logo

Qatar set to award aeronautical academy redevelopment project in Q3

Zawya11-07-2025
Qatar's Public Works Authority, Ashghal, is expected to award the design-build contract for the redevelopment of the Qatar Aeronautical Academy in Ras Abu Aboud by August 2025, a source familiar with the project told Zawya Projects.
The tender was issued on 17 November 2024 with bid submissions closing on 13 April 2025.
'The award is expected in August 2025,' the source told Zawya Projects, adding that the project cost, according to his estimates, is $70 million.
The project will span a total area of 50,931.55 square metres and includes the construction of two new buildings and the renovation of two existing buildings inside the aeronautical academy at Ras Abu Aboud, and construction of two new buildings at the adjacent Doha International Airport site as part of the same academic complex.
The targeted project completion is in the third quarter of 2028, the source said.
(Reporting by Deva Palanisamy; Editing by Anoop Menon)
(anoop.menon@lseg.com)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt: Hassan Allam Chief Executive Officer (CEO) pays a courtesy call on Ambassador
Egypt: Hassan Allam Chief Executive Officer (CEO) pays a courtesy call on Ambassador

Zawya

time10 hours ago

  • Zawya

Egypt: Hassan Allam Chief Executive Officer (CEO) pays a courtesy call on Ambassador

On 20 July 2025, Mr. Ahmed Mustafa, CEO of Hassan Allam, together with Mr. Mahmoud Seliman, Marketing Advisor, paid a courtesy call on H.E. Mr. Thanawat Sirikul, Ambassador of Thailand to Egypt, at the Royal Thai Embassy. Both parties discussed cooperation in promoting trade and investment between the two countries in the residential construction, infrastructure and construction materials businesses. The company is interested in working with Thai partners to assemble products for export to Europe and Africa, where Egypt enjoys special tax privileges and is located near both major markets. The company also believes that Thailand has potential to invest in Egypt in the hospitality and tourism sectors, and is ready to enhance awareness of the potential and economic opportunities in Egypt, as well as provide advice on investment loans to Thai entrepreneurs. Hassan Allam, which is over 89 years old, is one of the largest companies in Egypt and has signed a Memorandum of Understanding with SCG International, a Thai conglomerate, to enter the Middle East and Africa markets in 2023. Distributed by APO Group on behalf of Royal Thai Embassy, Cairo, Egypt.

Alrayan Bank reports a net profit of Qar 821mln for H1 2025
Alrayan Bank reports a net profit of Qar 821mln for H1 2025

Zawya

time12 hours ago

  • Zawya

Alrayan Bank reports a net profit of Qar 821mln for H1 2025

Net financing assets closed at QAR 112.1 billion and Deposits at QAR 110.7 billion representing a YOY increase of 3.4% and 1.6% respectively Cost to Income (efficiency) ratio 28.3% The Capital Adequacy ratio stood at 25.9% Doha: AlRayan Bank QPSC released today its consolidated financial statements for the six-month period ended 30 June 2025 with a Net Profit attributable to the equity holders of the bank of QAR 821 million. His Excellency Sheikh Mohammed Bin Hamad Bin Qassim Al Thani, Chairman of the Board commented: 'We continue to deliver strong performance across our operations in Qatar and overseas. The Group achieved its highest-ever total asset base, reaching QAR 176 billion as of 30 June 2025, an increase of 8.8% compared to 30 June 2024. During the first half of the year, financing assets grew by 3.4% year-on-year, driven by continued demand from both Corporate and retail clients. Investment securities also increased by 26% year-on-year, reflecting our continued focus on value-generating assets. We are also proud to have received distinguished recognition for our leadership and innovation. In Q2, the Bank was awarded ' Best Islamic Bank Qatar 2025 ' and ' Best Innovation in Retail Banking Qatar 2025 ' by International Banker. These accolades reaffirm our position as a market leader and highlight our unwavering commitment to digital excellence and customer-centric Sharia-compliant banking solutions'. Commenting on H1 financial performance, Omar Abdulrazaq Al Emadi, Acting Group Chief Executive Officer said: 'I am pleased to announce that the Group recorded a net profit of QAR 821 million for the first half of 2025, representing a 4.1% increase compared to the same period last year. This strong result reflects our solid fundamentals and continues focus on sustainable growth. We maintained a healthy efficiency ratio of 28.3%, despite the ongoing expansion of our digitalization & transformation strategy. This reflects our commitment to cost discipline while continuing to drive innovation across the Bank. In May 2025, AlRayan Bank successfully issued a USD 500 million 5-year Senior Unsecured RegS Sukuk which was oversubscribed more than 3 times, reflecting strong investor confidence and financial strength and creditworthiness of AlRayan Bank, backed by strong asset quality, liquidity, and capitalization. Our strategy continues to remain centered on building a future-ready, customer-focused, and Sharia-compliant financial institution that delivers lasting value to all stakeholders' Group Key Financial Highlights Financials - QAR million H1-2025 H1-2024 Change Total Asset 176,341 162,145 8.8% Financing assets 112,096 108,409 3.4% Investments securities 48,463 38,436 26.1% Deposits 110,667 108,935 1.6% Total equity 25,361 24,659 2.8% Net profit attributable to shareholders 821 789 4.1% Earnings Per Share (QAR) 0.088 0.085 4.1% Performance indicators H1-2025 H1-2024 Efficiency (%) Cost to Income 28.3% 26.2% Financing Quality Non-Performing Financing (QAR million) 6,309 6,641 NPF ratio (%) 5.38% 5.86% Capital Management (%) Capital adequacy ratio (CAR) 25.9% 23.7%

Laverde Developments continues deliveries in the New Administrative Capital with construction progress reaching 70%
Laverde Developments continues deliveries in the New Administrative Capital with construction progress reaching 70%

Zawya

time13 hours ago

  • Zawya

Laverde Developments continues deliveries in the New Administrative Capital with construction progress reaching 70%

Ibrahim Lashin: Laverde eyes expansion beyond the New Capital to North Coast and West Cairo Laverde Developments is accelerating its efforts in Egypt's New Administrative Capital through the execution and handover of residential units in its two flagship projects: Laverde New Capital and Laverde Casette. These projects reflect the company's commitment to offering modern residential communities where infrastructure, green spaces, and high-quality services are seamlessly integrated. In line with its construction timeline, the company has recently started delivering the first phase of Laverde New Capital. Over 120 residential units have been prepared for handover, with clients already beginning interior finishing work—marking a major milestone that reaffirms Laverde's focus on quality, client satisfaction, and market credibility. Chairman Ibrahim Lashin stated that construction progress has reached advanced levels, with Laverde New Capital achieving 70% completion in residential phases and Laverde Casette surpassing that figure. This accelerated pace in several project phases underscores the company's efficiency and commitment The Laverde New Capital project covers approximately 35 acres, with 80% of the land dedicated to green and service areas, and only 20% to construction. This approach creates a balanced urban design and a comfortable residential environment. Meanwhile, Laverde Casette spans 50 acres and maintains an even lower building density—just 10%—with 90% of the land allocated to landscaping and amenities, offering residents an open, nature-centric lifestyle. Lashin added that the current handovers involve residential apartment buildings in Laverde New Capital, which features a mix of apartment buildings and villas. In contrast, Laverde Casette focuses primarily on villas, including Townhouses, Twin Houses, and Standalone Villas, with only four residential buildings on the site. In terms of unit sizes, Laverde New Capital offers apartments ranging from 135 sqm to 270 sqm, and villas from 480 sqm up to 1,063 sqm. Laverde Casette offers villas ranging from 284 sqm to 639 sqm—ensuring a wide selection to meet the preferences of diverse client segments. Looking ahead, Laverde Developments is actively exploring new investment opportunities in key locations such as Egypt's North Coast and West Cairo. The company continues to study market trends to identify expansion avenues that align with its long-term development goals. Lashin emphasized that Laverde adopts a flexible strategy to navigate current real estate market challenges, including rising construction costs, fluctuating interest rates, and shifts in consumer demand. As part of this approach, the company is diversifying its product portfolio—not only in terms of apartment and villa types, but also by integrating hotel suites, retail outlets, and office spaces into its projects. Through this product diversity, Laverde ensures market adaptability and broad customer appeal, securing its leadership position in Egypt's real estate sector and strengthening its growing property portfolio.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store