United Arab Emirates: Thursday, November 19 - 2009 at 11:43
Dubai-based contractor Drake and Scull International has said it has acquired an 82% stake in Germany's Passavant-Roediger in a Dhs145m deal. The remaining 18% will remain with Bilfinger Berger, a publically listed German firm internationally active in construction services. Passavant-Roediger, a global developer of wastewater, water and sludge treatment technologies, has projects around the world including Algeria, Jordan, Lebanon, Egypt, UAE and Saudi Arabia. The company's current backlog stands at over Dhs450m.
United Arab Emirates: Thursday, October 29 - 2009 at 16:39
A number of market reports released at the beginning of Q4 2009 have broadly concurred on the state of Dubai's property market. The consensus appears to be that while villa sale and leasing prices will broadly stabilise from September onwards, apartments are likely to come under further pressure as new units come online over the next two years.
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