SAUDI ARABIA. The chairman of Kingdom Holding Company, HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who has been the driving force behind the decision to build the world's tallest tower in Saudi Arabia, announced that the construction contract has been signed today.
Kingdom Tower, with a height of over 1,000 meters, will begin construction imminently in Jeddah, Saudi Arabia.
Kingdom Tower will be the centerpiece and the first construction phase of Kingdom City, Jeddah Economic Company's (JEC) new urban development of more than 5.3 million square meters of land in the
UAE. 65% of respondents expect to spend less on projects than last year; increasing number of disputes owing to shrinking budgets and payment delays; 62% of respondents had been involved in a dispute recently or expect to be involved in one in the next year.
SAUDI ARABIA. The slowdown is due to demand-supply mismatch and the country's overall macroeconomic scenario, according to JLL's latest report; The existing mismatch is expected to widen as more retail and office supply is expected to enter the market with the easing of backlog projects.
UAE. Average villa yields of 4.7% and apartments at 7.5% put affordable units at top of investor and tenant wish list; villa and apartment sales remain flat with prices down just 1.1% and 0.7% respectively, according to Chestertons MENA latest report.
UAE. Marketing and leasing solution for new Duja Tower development in Dubai; "RENTCafé will help us deliver a great applicant-to-resident experience and also help us to offer a broader range of services to current residents."
SAUDI ARABIA. Recent resolutions indicate a growing approach by the Ministry of Labour to require the complete Saudisation of certain activities within the retail sector. This article examines the existing requirements and also the proposal for a weighted Nitiqat.
INTERNATIONAL. "It's going to come to a point where there is just going to be no real economical benefit to any kind of production staying at any kind of level in those countries. And once they come off, that's going to obviously support oil prices."