Red Sea Housing teams up with low-cost housing firm
- No commercial Western Sahara discovery for Kosmos
Exploratory well in disputed territory fails to find commercial quantities of oil. Read story >> - Red Sea Housing teams up with low-cost housing firm
Brazils Direcional Engenharia will work with RSHS to build 500,000 affordable homes by 2020 in Saudi Arabia. - Oman receives bids for railway packages
Oman Rail has received bids from contractors for the first three major construction packages on the Oman national railway project. Eleven international consortiums submitted bids. Read story >> - Emal receives bids for power plant expansion
Emirates Aluminium (Emal) has received bids for the contract to expand the captive power plant at its complex at Khalifa Industrial Zone (Kizad) in Abu Dhabi by 235MW. Read story >> - Bahrain to promote Islamic private banking
Finance Minister Sheikh Ahmed bin Mohammed al-Khalifa has said that he wants to place greater focus on the development of Islamic private banks as part of plans to make Bahrain the centre of excellence for Islamic banking. Read story >> - Saudi Arabia to commission nine new desalination plants by 2020
The plants, being developed by Saudi Arabias Saline Water Conversion Corporation (SWCC), will have a total capacity of more than 3 million cubic metres a day (cm/d). SWCC has a further 4.6 million cm/d of strategic projects in the pipeline for commissioning between 2025 and 2030. Read story >> - Emaar seeks programme manager for Dubai Creek Harbour
Role could be expanded to include other Dubai and international projects. Read story >> - Arabtecs Egypt project faces difficulties
UAEs Arabtec is being told by Egyptian officials the conditions of the one million-home project may be breached if funds are raised through Egyptian banks. Read story >> - Oman to tender IWP
Oman Power and Water Procurement Company has tendered consultancy contracts for a new independent water project in Salalah. The desalination plant will have a capacity of 18-22 million imperial gallons a day, and a main contract tender is expected in late 2015 or early 2016. Read story >>
- Bahrains banking sector to come under pressure
The current low oil price environment and downgrade of Bahrains sovereign rating by Standard & Poors last month will do little to improve the fortunes of the countrys banking sector.
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