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.
Saudi Oger reached a deal with a group of leading banks to secure a landmark US$800mn senior term loan facility and a US$1.05 billion advance payment guarantee facility to fund the King Abdullah Project 2.
Bauer International is currently constructing a pedestrian tunnel at Nation Towers in Abu Dhabi, which, going under the existing Corniche Road, will link the shopping complex and other components to a purpose built beach club.
Egypt's Orascom Construction (OCI) posted a 15 per cent rise in second-quarter net profits and said it expected orders to grow this year as governments in the Middle East try to create more jobs by boosting infrastructure spending.
The Saudi Arabia?s Construction Contracts Index (CCI) has shown that the Kingdom?s construction sector saw awarded contracts increase by 43 per cent increase over the second quarter of 2010.