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The new technology can help with tracking projects as contractors often have no idea how many workers are on site at one time and workers are frequently unsupervised

Saudi startup’s smart helmets upping safety on building sites

When Hassan AlBalawi first proposed a smart helmet that would track all employee movements on building sites, construction companies could not see the point.  “We were focusing on this problem of how to get technology into the construction field, measuring the drowsiness of construction workers. But it turned out the construction companies didn’t know or care,” […]

A view of Emaar India's Gurgaon Greens project in Haryana. Adani Realty and Emaar executives are holding talks in Dubai

Adani in talks to buy stake in Emaar’s Indian subsidiary

Adani Realty, owned by Indian billionaire Gautam Adani, is holding discussions with Emaar Properties to buy a stake in the Dubai-based developer’s Indian subsidiary, a news report said. Adani Realty and Emaar executives are discussing a possible transaction for a stake sale in Emaar India in Dubai, Business Today magazine reported, citing unnamed sources. The talks […]

Lionel Messi poses for a photo at Dubai Expo 2020. He and his Argentina teammates will soon be appearing on 'giant billboard on Sheikh Zayed Road' to advertise property

Project stardust: why Dubai developers still want celeb tie-ins

Lionel Messi, Rohit Sharma and Chris Hemsworth are just some of the famous faces who have promoted UAE real estate in recent years. Superstar sportsmen and Hollywood heroes do not come cheap, but are they really a good investment for developers or just an excuse for the CEO to get a selfie?  Many industry observers […]

A view of King Abdullah Economic City. Developer Emaar EC says it "stands at a vital inflection point"

Emaar EC’s new strategy to steer financial recovery

Emaar the Economic City (Emaar EC), the master developer of King Abdullah Economic City (KAEC) in Saudi Arabia, has initiated a SAR8.7 billion ($2.3 billion) turnaround plan a month after its first-half 2024 losses showed an almost five-fold increase from 2023. A capital optimisation plan will allow the Saudi-listed company to restructure its SAR3.8 billion in bank facilities. […]

GCC retail staff shortage Video length: 07:34

Retail staff shortage dents GCC shopper satisfaction

Shoppers across the Gulf Cooperation Council countries are being put off their purchases by a shortage of skilled staff in the region’s retail sector, as prices of products continue to rise. Annual retail sales in the six GCC countries are expected to grow to $300 billion by 2028, a 37 percent increase from 2022. But […]

A view of Royal Greens Golf and Country Club at KAEC. Developer Emaar EC's Revenue fell 74 percent year on year to SAR150m

King Abdullah Economic City developer’s losses at $185m

Emaar the Economic City (Emaar EC), the developer of King Abdullah Economic City near Jeddah, widened its losses in the first half of 2024 on higher finance costs and write-offs. Loss in the first half of the year reached SAR694 million ($185 million), compared with SAR76 million a year ago. Revenue fell 74 percent year […]

Dubai developer Emaar said property sales in the first half of 2024 hit a record high of AED31.5bn, rising 56 percent year on year

Emaar revenue jumps 17% as Dubai real estate thrives

Emaar Properties, the largest developer in Dubai, reported a net profit attributable to equity holders of AED5.3 billion ($1.4 billion) in the first half of 2024, a year-on-year increase of 8 percent. Revenue jumped 17 percent year on year to AED14.4 billion, thanks to high investor confidence and robust demand in Dubai’s real estate market. […]