Louvre Hotels, owned by US investment group Starwood Capital, said on Wednesday it planned to open 80 new hotels in 2011, mostly in Europe and Asia.
Egypt's stock exchange suspended trading in Palm Hills shares on Wednesday, saying it was awaiting a response from the company to a request for information. It did not provide further details.
Europe's luxury hotel brand, Rocco Forte Hotels has ventured in to the Middle East, and is on-track for its Q4 2011 opening in Abu Dhabi, the company said in a statement.
Oman Cement Co, the sultanate’s second-largest maker of the building material by market value, said first-quarter profit before tax fell to 4.67 million rials from 7.97 million rials a year earlier.
Egypt's South Valley Cement 2010 unaudited net profit fell 66 percent to 50.9 million Egyptian pounds ($8.6 million), the firm said in a statement to the bourse on Tuesday.
An Egyptian court ruled on Tuesday that the sale of state land to Palm Hills Development (PHD), the country's second-biggest listed developer, was illegal and scrapped the contract.
CapitaLand Ltd, Southeast Asia’s biggest developer, said first-quarter net income rose more than three times after it restated last year’s earnings.
Emaar Properties PJSC’s dollar- denominated bonds dropped after the builder of the world’s tallest tower in Dubai said first-quarter profit slumped 45 per cent, missing analysts’ estimates.
Jordan’s property sector showed steady performance, with minor price increases in residential sales amid the political unrest that has slowed the property market, according to Asteco’s Q1 Jordan r
Emaar Properties, UAE's biggest developer by market value, posted a 45 per cent drop in first-quarter net profit, missing analysts forecasts, as revenue dipped and losses from associate firms rose.
