2006
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L&T, $22m sewerage plant
Larsen & Toubro said it has won a $22m deal from Oman to build a sewage treatment plant, according to Reuters. India's largest construction company said it would start work on the project in March 2006 and hoped to complete it in 18 months.
ETA, $272.3m Burj Dubai contract
An ETA Group-led joint venture which includes Japan-based Hitachi Plant Engineering and Construction and India's Voltas has won a contract worth $272.3m for mechanical, electrical, plumbing and fire-fighting works at Emaar's Burj Dubai. The tower is currently rising at the rate of a floor a week.
$2.4bn Jeddah realty developer
The development company behind the new $27bn new financial city outside Jeddah has fixed its capital at $2.4bn, said Emaar Properties which is leading a consortium of Saudi companies. However, no indication of the size of individual group's stakes in the project were given.
$252m Lulu contract for Hamad
The Al Hamad Construction and Development Company has been awarded the construction contract for the $252m Abraj Al Lulu development in Bahrain by the Pearl Development Real Estate Company, a consortium of investors from Bahrain, Saudi Arabia and the UAE.
$20bn Oman Blue City phase one
A $1.9bn construction deal for phase one of Oman's $20bn Blue City, about 100km from Muscat was signed late last week with a joint venture between Enka Insaat ve Sanayi of Turkey and Aktor Ate of Greece. Phase one comprises 5.5 sqkm, four hotels, two PGA golf courses and thousands of homes.
650 Durrat Al Bahrain villas sold
More than 70% of villas in the Durrat Al Bahrain's second phase have been sold to Gulf investors, CEO Jassim Al Jowder told journalists. Out of 800 villas to be built, 650 have been sold, he said, and reclamation work for seven islands has been completed. The sales office will be opened at the site in February.
Motivate Home Owner event grows
Organisers of Home Owner Dubai 2006, Motivate Events, have reported that the event, to be held 26-28 January 2006 at the Madinat Arena and Ballrooms, has doubled in size from the 2005 event which attracted 110 exhibiting companies and over 4,095 individual visitors.
Dubai Waterfront sponsors golf
Nakheel's huge Dubai Waterfront project is to be co-sponsor of the 2006 Dubai Desert Classic at the Emirates Golf Club from February 2-5. The Dubai Waterfront will be the world's largest waterfront development, and this high-profile sponsorship underlines Nakheel's commitment to this project.
Plug-Ins win an apartment
UAE based Plug-Ins Electronix is offering the chance to win an apartment in Dubai during the Dubai Shopping Festival this month. For every Dhs200 spent in their stores customers get a scratch card with the opportunity to win a furnished apartment in Dubai.
Tameer, EIB mortgage link
Tameer Holding has signed up Emirates Islamic Bank to offer mortgages and finance for its UAE property developments. Finance will be available for Tameer's Al Dana 1, Al Dana 2 and the Princess Tower projects.
Damac, apartment plus Jag
Damac Properties is promoting its residential, office and retail properties by offering a range of Jaguar cars during the Dubai Shopping Festival 2006. The Jaguar X-type comes with the purchase of studio or one bedroom apartment or an office space, the S-type with a two or three bedroom apartment, and the XJR with a penthouse or duplex. Conditions apply on all offers.
Al Raha Gardens, new website
Abu Dhabi-based Aldar Properties has re-launched the website for its Al Raha Gardens development. Al Raha is the first development sold to UAE nationals in Abu Dhabi on a freehold basis. It offers residential accommodation in a landscaped environment, with shops and schools.
$271m Dubai Lifestyle City
ETA Star Projects, part of ETA Ascon Group, has launched its $271m Dubai Lifestyle City project which it will build in Dubailand. The city will host the IMG Sports Academy, which will include tennis and golf academies. It will have a luxury hotel, sports centre and 20,000-sqft health club. The project is expected to be finished by 2007, according to statement.
Dubai roads, $1.9bn upgrade
Dubai will invest $1.9bn on its road infrastructure over the next five years in an effort to help decrease traffic congestion and improve road safety, reported Gulf News. The aim is to increase public transport use to 30% of commuters from the current 5% over the next 15 years, according to Dubai Roads and Transport Authority CEO Mattar Al Tayer.
Residential tower at Trade Centre
Dubai Municipality has issued a licence for the construction of $54.2m, 70-storey residential tower in the Trade Centre area. It will have a total of 560 studio, one and two bedroom apartments, and shops covering 13,000 sq ft. Parking will be available for 605 cars.
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