A new report predicts a further leg down to the UAE property market before prices and rents recover.
Strabag Oman was awarded a contract worth US$208mn from the Ministry of Transport and Communications (MoTC), Oman, to build access roads and a range of infrastructure at Duqm port.
Construction work has officially begun on the first phase of the US$7 billion New Doha Port in Mesaieed, with the foundation stone being laid by Shaikh Tamim Bin Hamad Al Thani, Crown Prince of Qatar.
Orascom Construction Industries (OCI), said that its 50 per cent owned Besix Group won a US$519mn joint venture contract with Al-Muhaidib Contracting Co. in Saudi Arabia for the design and construction of the King Abdullah Sports City development near Jeddah.
A report by Citigroup revealed that the UAE accounted for 56 per cent of the total cancelled and delayed projects for the main regional markets in August.