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Construction

A five-year project for French engineering group Alstom to build an above-ground urban metro line in Baghdad will cost US$1.5 billion and be funded by the French government and banks, Iraqi officials said.

Housing projects in Egypt could see delays in delivery to clients and even face cancellations due to impact of the recent revolution in Egypt, according to a report by Jones Lang LaSalle.

Dubai has hired four local and international banks to raise US$800mn by securitising Salik road toll receipts and will use the proceeds to fund infrastructure projects according to a recent government statement.

Saudi Arabias construction sector recorded a big leap in Q1, with the value of contracts awarded by the government rocketing by more than five times over the same period of last year.

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