UAE Focus

WITH projects worth Dh1.05 billion ($286 million) in hand and a further two valued at Dh600 million ($163.5 million) in the pipeline, Abu Dhabi Land (ADL) expects to be busy at least for the next 18 months.

DANUBE Building Materials is to open its biggest Buildmart retail showroom within a mall this month. Set to occupy an area of 35,000 sq ft within the Dalma Mall in Abu Dhabi, the store will mark the company’s 10th retail facility in the GCC, and its fourth branch within a local shopping mall.

THE Al Habtoor Leighton Group (HLG) confirmed it has been awarded a contract worth Dh701.5 million ($191 million) to complete Daman’s Buildings by Daman project in Dubai International Financial Centre (DIFC). Developer Daman had announced that HLG had been placed as preferred contractor in May.

TRIPP Lite, a leading manufacturer of power protection and connectivity equipment, has unveiled its Product Selector Guides, an online handbook to power protection, power distribution, network control and connectivity solutions.

DPG completes Ghoroob projectDUBAI Properties Group (DPG), a member of Dubai Holding, has announced the successful completion of Ghoroob, an affordable residential development, in the heart of Mirdif in Dubai. The 3.

DUBAI’S multi-billion-dollar Metro celebrated its first anniversary last month, with the Roads and Transport Authority (RTA)  announcing that the project had ferried 30 million passengers over its first 12 months.

LEADING property management company Asteco has launched its exclusive furnishing subdivision, Buy Dubai, which is supporting the UAE economy by sourcing 80 per cent of products from local manufacturers. “Asteco was founded in Dubai and as such we believe in supporting the community that has enabled us to build a successful business.

BASF Construction Chemicals says its recently-launched Sewerage, Oil and Gas, and Industrial Coatings (Sogic) range has received a “tremendous” response from the UAE market. The first major contract to be awarded to the company, recognising the range’s superior capabilities, has come for the new Dh227 million ($61.

AL ROSTAMANI Pegel (ARP) has been awarded a project for the construction of a hotel and hotel apartments in Dubai by Nilona Holding, a member of the Onyx Group engaged in diverse business activities in the UAE and Sri Lanka. Construction has already begun, and the expected date of completion of the hotel tower is January 2012.

DUBAI Multi Commodities Centre (DMCC), the operator of the Jumeirah Lakes Towers (JLT), announced the completion of its 50th tower. The completion of the commercial tower, Armada Tower P2 (Armada Tower), part of the Armada Group portfolio, completes the three-tower mixed-use development, offering residential, commercial and retail facilities.

CONFIDENCE seems to be returning to the market, states the UAE-based Belhasa Projects (BHP), which has witnessed a surge in orders booked during the past three months.

EMIRATES Steel has signed a seven-year project financing agreement with a consortium of seven conventional banks and two Islamic finance institutions worth $1.1 billion. The project finance debt was raised through a $367-million Islamic facility and a $733-million conventional facility, each of a seven-year tenor.