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United Arab Emirates News

Engineering & EPC;Real Estate

Alef group advances Sharjah's Olfah community with early works contract award

Alef Group has awarded the early works contract for its Olfah master-planned community in Sharjah to a leading local contractor. The scope includes site readiness and foundational work, moving the forest-designed, walkable development adjacent to Etihad Rail Station into initial construction phase.

United Arab Emirates | 1 week ago

Power & Utilities

Four developer groups compete for EWEC's 3.3 GW carbon-capture-ready CCGT project

EWEC has received four competitive proposals for the Al Nouf 1 IPP project, a 3.3 GW combined-cycle gas turbine plant designed for carbon capture readiness. The facility, set to be the UAE's largest single-site CCGT plant, will be located in Abu Dhabi's new Al Nouf Complex and is scheduled for commercial operations in Q3 2029.

2 weeks ago • United Arab Emirates

Mergers & Acquisitions

ADNOC and OMV name executive leadership for upcoming polyolefins giant Borouge Group International AG

ADNOC and OMV have appointed the senior leadership and supervisory board for Borouge Group International AG. The new entity, formed through the merger of Borouge, Borealis, and NOVA Chemicals, is scheduled to launch by late March 2026 under the leadership of incoming CEO Roger Kearns.

3 weeks ago • Austria;United Arab Emirates

Islamic Finance

Newgen's Dubai unit wins $2.22m software deal with Kuwaiti bank

Newgen Software Technologies' Dubai subsidiary has secured a $2.22 million contract from an undisclosed bank in Kuwait. The two-year agreement involves the implementation of Islamic finance origination and customer communication software, reinforcing the company's expansion in the Gulf region's banking sector.

4 weeks ago • Kuwait;United Arab Emirates

Construction

Arada awards AED 2.18 billion contract to UNEC for Sharjah's Madar Mall project

Arada has appointed United Engineering Construction Company (UNEC) to deliver the AED 2.18 billion Madar Mall at Aljada in Sharjah. The project, scheduled for completion in December 2028, will anchor the master development’s retail and entertainment offering and expand the emirate’s large-scale commercial real estate inventory.

2 months ago • United Arab Emirates

Mergers & Acquisitions

DreamFolks Services acquires a majority stake in Dubai's Easy to Travel

DreamFolks Services will acquire a 60.24% stake in Dubai-based Easy to Travel for ₹360 million, marking a strategic pivot toward international airport services distribution. The transaction supports DreamFolks’ diversification beyond domestic lounge operations and expansion into global travel markets.

2 months ago • United Arab Emirates

Latest News

Energy & Power | 3 days ago

EBRD approves USD 65 million for Egypt’s solar-plus-storage infrastructure project

The European Bank for Reconstruction and Development has committed USD 65 million to finance a hybrid 200 MW solar plant and 120 MWh battery storage facility in Aswan, Egypt. This initiative, developed by HAU Energy, marks a critical step in stabilizing the national grid while advancing the country's transition toward a low-carbon energy infrastructure.

Infrastructure | 3 days ago

USACE awards $113.8 million contract to J.F. Brennan for invasive carp deterrents at Brandon road project

The U.S. Army Corps of Engineers has awarded a $113.8 million contract to J.F. Brennan Company for leading-edge invasive carp deterrents as part of the Brandon Road Interbasin Project in Illinois. The award completes Increment I of the ecosystem restoration effort.

Energy & Power | 3 days ago

CoreMarine and Jumbo Offshore win contract for FLNG mooring installation in Argentina

CoreMarine and Jumbo Offshore have secured a contract from Southern Energy S.A. to transport, install, and hook up soft-yoke mooring systems for two FLNG vessels in Golfo San Matías. The project supports Argentina’s gas export expansion, with installations scheduled for 2027 and 2028.

Government & Policy | 3 days ago

NASA awards $76m data science contract to Development Seed for Marshall space flight center

NASA has selected Development Seed for a $76 million indefinite-delivery/indefinite-quantity contract to provide R&D services to the Office of Data Science and Informatics at Marshall Space Flight Center. The contract includes a two-year base period with three one-year options through June 2031.