Mabanee 2011 profits touch KD 20.78 million
February 22, 2012
The board of Mabanee Real Estate Company endorsed the financial statements of the last fiscal year which ended on Dec. 31, 2011 wherein the company achieved profits worth 20.78 million Kuwaiti dinars. This was part of a press release on Tuesday.
The earnings per share (EPS) was estimated at 37.62 Kuwaiti fils and the company achieved 11 percent growth when compared with the previous fiscal year 2010. During 2010 the company achieved profits worth KD 18.67 million and an EPS of 33.79 fils.
The total assets increased by 20 percent while the"...
Architects Ortner + Ortner Baukunst have built a PV pavilion with customized solar modules from Odersun on the campus of Potsdam University of Applied Sciences
February 18, 2012
A social space with solar external skin designed by architects Ortner + Ortner Baukunst has been erected on the campus of Potsdam University of Applied Sciences. Designed as a “live gallery”, a PV pavilion has been created with 4-metre-high break-proof solar modules from Odersun AG.
The 35-meter-long photovoltaic pavilion adds the finishing touch to the university"...
KBR Awarded VCC License and Basic Engineering Package for TAIF Group’s Refinery at Nizhnikamsk, Republic of Tatarstan, Russia
February 15, 2012
KBR (NYSE: KBR) today announced it was awarded a contract by TAIF Group to provide licensing and engineering services for the Veba Combi Cracker (VCC) to be implemented at the Nizhnikamsk refinery in the Republic of Tatarstan, Russia.
Under the terms of the contract, KBR will provide the License, Basic Engineering Package (LBEP), and other services for TAIF’s VCC-based"...
Kuwait real estate sector set for recovery in 2012, bank report suggests
February 11, 2012
Residential sales accounted for 54% of the total sales, investment was 37% and the commercial sector 9%.This is similar to 2010 when sector shares were 55%, 33%, and 12% respectively.
Last year also saw an 11% increase in the total number of transactions, with most of the increase coming from residential property transactions.
‘The real estate sector recovered further in 2011, with special sustained interest in the investment sector, i.e. apartment buildings that generate income,’ it reported.
Loans to real estate also showed some improvement, up 4.8%, the report...
Saudi Arabia Builds Stadium to Accommodate Women
February 1, 2012
Saudi Arabia is building its first stadium especially designed to allow women who are currently barred from attending soccer matches because of the kingdom's strict public gender segregation to watch games.
The stadium in the Red Sea port city of Jeddah is scheduled to be completed in 2014 and will have private cabins and balconies to accommodate female spectators, according to Al Sharq, a state-owned newspaper.
"Sources close the stadium said more than 15 percent of the facility will be allocated for families when the facility is fully completed in 2014. Besides families, female journalists...
Al Hamra Village positive for 2012 with 84% occupancy
January 31, 2012
Al Hamra village is enjoying a total occupancy of approximately 84% and the coming year is set to see more new developments with the completion of the Waldorf Astoria Hotel at Al Hamra Palace and the expansion at Al Hamra Mall.
Apart from the residential comforts, Al Hamra Village also provides attractions such as the Al Hamra Fort Hotel & Beach Resort, Banyan Tree beach Resort, Al Hamra Palace Hotel & Resort, Al Hamra Golf Club, Al Hamra Marina & Royal Yacht Club, Al Hamra Mall as well as several restaurants.
The Royal Breeze Residence, at phase three of Al Hamra...