Tiger Woods Dubai signs new infrastructure deal

The Tiger Woods Dubai, a member of Tatweer Dubai, has announced the signing of a new agreement with UAE–based Al Nasr Contracting Company for infrastructure works at the 55 million sq ft development.

With a primary focus on the golfing components of the project, Nasr’s scope of work will include tunnel boring and construction of a pump stations for the provision of water to the courses 3.3 million sq feet of lakes, installation of permanent irrigation lines and constructions of roads and utilities connecting residential plots with the clubhouse.

Abdulla Al Gurg, project director, The Tiger Woods Dubai, said: “Al Nasr has a strong track record and has proven to be an invaluable partner in the development of The Tiger Woods Dubai.

“Quality, integrity and excellence remain central to this unique project and we are happy to have the commitment of Al Nasr as we proceed toward our goal of becoming one of the most sought after golf destinations in the world.”

Said Saade, general manager, Al Nasr Contracting, said: “We are certainly pleased to be continuing our relationship with The Tiger Woods Dubai and intend to contribute key deliverables to what we are sure will be a landmark development.”

Source: Trade Arabia News

JP Morgan to advice on Qatar property merger

Qatar Real Estate Investment Co (Alaqaria) said on Sunday it had appointed JP Morgan as the financial adviser for its proposed merger with Barwa Real Estate Co.

In January, Qatar's government ordered the two domestic property firms to merge, one of four consolidations announced in the world's biggest exporter of liquefied natural gas in recent months as the global financial crisis batters the Gulf.

Consolidation in the oil-exporting Gulf region has been on the rise since late last year as the financial crisis and an oil price slump ended an economic boom, forcing firms involved in everything from property to investment to search for ways to weather the downturn.
"Alaqaria has appointed JP Morgan to act as its exclusive financial advisor to conduct the necessary analysis," Qatar Real Estate said in a statement on the bourse website.

Barwa, an affiliate of state-owned Qatari Diar, and Alaqaria, in which the government owns a minority stake, said in January they were in the early stages of examining terms and conditions of the merger.

Source: Trade Arabia News