Dubai Travel Guide

Dubai-based contractor Drake & Scull aims to raise 1.2 billion dirhams ($326.7 million) in an initial public offering and is in advanced talks with takeover targets as it expands in the Middle East and North Africa.

The long-awaited IPO comes amid a rush of listings in the GCC region, where oil-fuelled growth in real estate and infrastructure has confounded weakness elsewhere.

Demand remains strong in the region and revenue should continue to increase at 25-30 per cent per year, Qais Saleh, the group’s strategic planning director, said.

“We have separate discussions, some advanced, some less so, with companies in the region and we will announce in due course,” Saleh said.
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Emaar Properties has partnered with Dubai Municipality on a water use efficiency initiative aimed at reducing sewage production in 58 properties along Sheikh Zayed Road. Specific water saving measures are being put in place along these buildings on Sheikh Zayed Road, a measure in line with the current focus of Dubai to promote green buildings.

Mr Ahmad Al Matrooshi, UAE Managing Director, Emaar Properties, said: “Dubai Municipality has unveiled a pioneering and model initiative that will contribute a long way to the Green Dubai vision announced by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. Enhancing water use efficiency can be integrated into the every day lifestyle of individuals and the sewage reduction programme will help achieve this.”

The new initiative includes the installation of water saving devices in taps, showers, cisterns, toilets and water tanks, eventually contributing to 15 to 35 per cent reduction in water use depending on the building. Residents will also benefit from reduced water bills. Work has already begun and is being undertaken by City Services and MEET. Emaar is adopting the programme in all new developments including towers within Downtown Burj Dubai.
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