UAE CONSTRUCTION & REAL ESTATE

Weekly Report

Issue - 2014 Week 18

25 to 01 of May, 2014

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

2

From:

TIMMINT

Market Intelligence

To:

Whom it may concern

Subject:

Weekly Status Report,

UAE Construction and Real

Estate Industry

Issue Year 2014, Week 18

Report Sections Page

UAE CONSTRUCTION

& REAL ESTATE NEWS 2

DUBAI REAL ESTATE

INDEX 6

Abu Dhabi REAL

ESTATE INDEX 7

MARKET

PERFORMANCE 9

WEEKLY TENDERS 10

Who We Are Visit our website www.timmint.com

Disclaimer:

This report was prepared as an

account of work sponsored by the

Company. Certain information has

been obtained from published

sources and is given as of the dates

specified. All the information in this

publication is verified to the best of

the authors’ and publisher’s ability,

but neither the company nor the

Management Team makes any

warranty, express or implied, or

assumes any legal liability or

responsibility for the accuracy

completeness or the results of such

use of the information. All such

information is subject to change

without notice.

UAE CONSTRUCTION & REAL ESTATE NEWS

Abu Dhabi approves $10.1bn infrastructure deals

he Expo 2020 master plan remains on track as per an updated progress report by

authorities. Plans have been drafted with a target date for all major construction

activities to be completed on site by October 2019, allowing for a full year of readiness

testing across networks, systems and technologies.

When unveiled upon completion, the project will include three zones, catering close to 250

participants. Dubai Expo 2020, which will run from October 20, 2020 to April 10, 2021, is also

pushing forward a one country-one pavilion policy.

One of the first main deliverables is the submission of the mandatory Registration Dossier by

2015 to BIE, which will include more in-depth content across key topics presented in the bid

document. In the early part of next year, following finalisation of the detailed master planning,

site readiness activity will commence on the Dubai Trade Centre-Jebel Ali site to prepare for full-

fledged construction after BIE approval.

Detailed master plan The 438-hectare site that includes a

dedicated gated 150-hectare Expo area, and a surrounding

residential, hospitality and logistics zone, will play host to

the 25 million visitors expected at Dubai Expo 2020. Expo

Village, a residential community development providing full-

time housing facilities for staff from participating countries

working on site, will target completion by 2018, following

which pavilion construction activities will start.

Theme and layout With the theme ‘Connecting Minds,

Creating the Future’ at its core, organisers aim to integrate

the three sub-themes of Mobility, Sustainability and

Opportunity, which will converge at the central Al Wasl

Plaza. At its peak, the Dubai Expo 2020 exhibition site is

designed to accommodate up to 300,000 visitors, with

average weekday attendance expected at 153,000.

Transport and Metro extension An extension to the

existing Dubai Metro Red Line will be constructed along

with a dedicated station on the Expo site to encourage

maximum usage of public transport systems. Additionally,

a bespoke zero-emission bus service will transport visitors

to and from the Expo from pick-up points throughout the

UAE, situated in key hotel and major population areas.

Sustainability Organisers are also keen to supply at least 50 per cent of the Expo Site’s energy

needs over its six-month duration with energy from renewable sources. Organisers state, in the

next six years, over 275,000 jobs are estimated to be created across the region to service the

Expo. The Expo committee states preliminary estimates indicate that the economic impact

generated by the event between now and 2021 will be approximately €17.7 billion.

T

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Source: emirates247.com

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

3

UAE steel market bracing for spirited run to Expo

2020

AE steel market might be in for turnaround in the coming years. Unending agony of

this region after the 2008 collapse, subsequent political crisis in MENA nations and

currency volatility in Turkey has taken heavy toll of the demand recently.

Once considered as the biggest demand driver for long steel mills in Turkey and CIS had come to

stagnancy as the reality sector crumbled under the weight of credit and infrastructure projects

dried up owing to lack of liquidity.

However the clock seems to be reversing during the last 6 months with demand

kindling from the infrastructure and construction sector. Even though it is not even a

pale shadow of the 2007-2008 levels nonetheless encouraging trend has emerged.

Dubai will host World Expo 2020 which brings with it concomitant hectic preparation.

Construction and infrastructure is slated to pick up majorly. It is expected that preparations for

the event will boost consumption of steel products, mainly long steel, by 20-25% in the next few

years.

The main projects are to start in 2015 and will allegedly cost the UAE government at least USD 8

billion. Grandiose plans to build new exposition centers, hotels, roads, bridges, one more airport

and extend its metro line are few to mention in Dubai. Significantly UAE has enhanced

production capacity in the recent past . However most of these mills have been operating at low

capacity utilization due to lack of demand. The country's rebar capacity is 4.28 million t, with only

3.1 million t in operation now. Some plants ran at 70-75% in 2013.

As the demand increases these mills will reach full capacity but even this won’t suffice. Turkish

mills can have feast supplemented by currency stability. The UAE imported 1.09 million t of

Turkish rebar against 1.01 million t in 2012 which is expected to gallop 2015 onwards once the

construction activity goes in full swing.

Source: steelguru.com

Dubai to host 12th OMAINTEC conference,

exhibition

ubai will host the 12th Operations and Maintenance

Conference in the Arab Countries (OMAINTEC) under

the theme of “Maintenance towards Globalisation”

from 18-20 May, 2014 at Atlantis The Palm Hotel & Resort in

Dubai. The conference aims to provide an opportunity for experts and specialists in the fields of

operations and maintenance in the Arab countries and their counterparts from developed

countries to exchange ideas and experiences in order to develop the sector in the region.

Besides the conference, the 12th Arab Maintenance Exhibition will take place this year within the

FM Expo exhibition in Dubai World Trade Centre from 19-21 May, 2014. Major companies like

Saudi Oger and the Bin-Ladin Group will be making their presence felt at this exhibition.

U

D

Source: ArabianIndustry.com

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

4

Occupancy in UAE hotels reaches 84% in March

otels in the UAE saw occupancy rise 1.1 per cent to 84 per cent during March, compared

to the corresponding period a year ago. However, visitors payed slightly lower room

rates, according to STR Global, a provider of hotel data.

The average daily rate (ADR) in the country touched Dh871.91, down 0.2 per cent, while revenue

per available room (RevPAR — a benchmark for performance) stood at Dh732.67.

In the last few months, brands such as Warwick International Hotels have opened properties in

the UAE. Sofitel Dubai Downtown’s opening will follow next month.

The UAE has 120 hotels in the pipeline with 34,671 rooms, according to the STR Global

Construction Pipeline Report for March.

Occupancy was “over 80 per cent” in Dubai’s hotels during March, according to Elizabeth Winkle,

managing director of STR Global. STR Global forecast the emirate’s hotel occupancy to reach 83.7

per cent in April.

In the two months that follow, occupancy could drop by 4 to 5 per cent due to the runway

repairs at Dubai International Airport, Philip Wooller, area director for the Middle East and Africa

at STR Global, told Gulf News. The repair work, which will start on May 1, is expected to reduce

the number of flights at the airport by 26 per cent.

Meanwhile, hotels in the Middle East and Africa saw occupancy reach 66.9 per cent last month,

marking a 0.7 per cent decline, while ADR reached $178.18 (Dh654.45) and RevPAR touched

$119.19. During the first quarter, the region’s hotel occupancy rose 1.2 per cent to 65.5 per cent.

ADR, meanwhile, was $179.74 and RevPAR was $117.72, marking an increase of 2.9 per cent and

4.2 per cent, respectively.

Occupancy in Beirut, Lebanon’s hotels reached 38.9 per cent, plummeting 25.1 per cent — the

largest drop in the region. RevPAR, meanwhile, was down 29.8 per cent to $54.45.

Elsewhere in the region, hotels in Egypt posted an occupancy of 43.7 per cent, which was down

18.8 per cent, while RevPAR was EGP198.11, marking a 20 per cent drop.

In Saudi Arabia’s hotels, occupancy was 71.1 per cent, which declined 1.3 per cent, and RevPAR

was 507.29 Saudi riyals (Dh496.60).

Source: gulfnews.com

H

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

5

Tender planned at $1.5bn tunnel enhancement

program in Abu Dhabi

H2M Hill is to issue tender documents in

the next month or so for two large regional

odour control facililties at the $1.5bn

Strategic Tunnel Enhancement Program (STEP) in

Abu Dhabi, set to be one of the world's largest

wastewater systems when it's commissioned in late

2015.

The program will feature three key components, a

41km-long deep sewer tunnel, 43km of smaller diameter link sewers, and a 30m³ per second

capacity pumping station located at the end of the deep tunnel sewer. Link sewers will be used

to intercept the flows from existing gravity sewers upstream of the existing pumping stations.

The flows will be channelled by gravity via the deep tunnel sewer to the main pumping station,

then lifted to central wastewater treatment facilities.

Back in 2011, CH2M Hill was engaged by pumping station contractor Odebrecht Construction to

provide design and constructing supervision, and permitting and authority approvals.

Richard Bryant, business development lead facilities & urban environments, MENAI region, for

CH2M Hill, said it had closed out Contracts T-02 and T-03 – the two Impregilo deep tunnel

contracts – and T-01 will be completed by the end of this year. All 41km of deep tunnels have

been excavated without a single incident – the last breakthrough was last October. T-01 is now

approximately 50% through the secondary lining.

Richard Bryant, business development lead facilities & urban environments, MENAI region, for

CH2M Hill, said it had closed out Contracts T-02 and T-03 – the two Impregilo deep tunnel

contracts – and T-01 will be completed by the end of this year.

All 41km of deep tunnels have been excavated without a single incident – the last breakthrough

was last October. T-01 is now approximately 50% through the secondary lining.

He said: “Over 50% of the 43km of link sewer has been pipejacked – the two

Zublin contracts should be complete by mid 2015 – although there is now an

additional 3.1m internal diameter section of link sewer connecting Al Reem

Island into the system, which will extend the completion of contract LS-01 to

the end of 2015.

“We have nine TBMs (tunnel boring machines) of varying sizes on the link

sewers, so with the eight TBMs on the deep tunnel contracts, we have used a

total of 17 TBMs on the programme.”

Source: ArabianIndustry.com

C

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

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DUBAI REAL ESTATE INDEX

Dubai Real Estate Sector Performance:

The chart for Dubai Real Estate Index illustrate the global performance of all Dubai real estate companies in the stock market for a period of one year, showing a year to date change of (+86.89%)

Real Estate Index - Year to Date Figures

Index as of 31 Dec Current Index YTD Change Indicator % Change

6,987.72 13,059.63 6,071.91

86.89%

Real Estate Index - 52 Weeks Price

High Date Low Date Current Price

13,473.36 24/4/2014 2,933.61 4/6/2013 13,059.63

Real Estate Index (one year)

Real Estate Index (last Week)

DFM Index (one year)

DFM Index (last week)

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

7

ABU DHABI REAL ESTATE INDEX

Abu Dhabi Real Estate Sector Performance:

The chart for Abu Dhabi Real Estate Index illustrate the global performance of all Abu Dhabi real estate companies in the stock market for a period of one year, showing a year to date change of (+47.94%)

Real Estate Index - Year to Date Figures

Index as of 31 Dec Current Index YTD Change Indicator % Change

4,668.16 6,905.97 2,237.81

47.94%

AD Real Estate Index (one year)

AD Real Estate Index vs. AD Index (One Year - %)

--- Abu Dhabi Real Estate Index (ADRE) --- Abu Dhabi Index (ADI)

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

8

The charts below show the positioning of the Real Estate sector among the other sectors in Dubai and Abu Dhabi Stock Markets.

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Banks 26%

Investment & Financial Services

12%

Real Estate 19%

Telecommunication

7%

Insurance 7%

Energy 5%

Industrial 9%

Consumer Staples

6%

Services 9%

Abu Dhabi Market

Banks 9%

Fin. / Invest.

24%

Insurance 9%

Real Estate 46%

Transport. 3%

Industrials 1%

Consumer Staples

2%

Telecom 3%

Services 3%

Dubai Market

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

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MARKET PERFORMANCE

The table hereunder reflects the performance of the listed Real Estate and construction companies in the Dubai stock market

during the last week.

Dubai Real Estate & Construction Companies (last week)

Companies Previous Closing

Close High Low Price Change No. of

Trades Volume Value

Value %

Al Mazaya Holding Company 1.34 0.00 1.54 0.00 0.20 14.93 1 106 163

Arabtec Holding PJSC 8.74 9.07 9.26 8.74 0.33 3.78 8,207 227,586,362 2,050,431,948

Deyaar Development PJSC 1.68 1.64 1.72 1.59 0.04 2.38 2,556 258,565,874 430,363,806

Drake & Scull International P.J.S.C 1.74 1.68 1.75 1.64 0.06 3.45 973 76,238,326 128,859,686

Emaar Properties PJSC 10.80 9.83 11.20 9.69 0.97 8.98 4,013 101,250,396 1,087,974,961

National Industries Group Holding (S.A.K.) 3.20 4.07 4.07 0.00 0.87 27.19 6 11,000 36,535

Union Properties PJSC 2.65 2.60 2.67 2.35 0.05 1.89 4,636 261,327,658 659,329,875

National Cement Company (P.S.C.) N/A N/A 3.83 3.83 N/A N/A N/A N/A N/A

The tables hereunder reflect the performance of the listed companies in the real estate sector followed by the listed companies

in the cement and construction sector in Abu Dhabi stock market during the last week.

Abu Dhabi Real Estate Companies (last week)

Companies Previous Closing

Close High Low Price Change No. of

Trades Volume Value

Value %

ALDAR Properties PJSC 4.30 4.02 4.40 3.97 0.13 3.23 6,210 353,051,015 1,471,770,533

Eshraq properties Co. 2.49 2.46 2.64 2.13 0.07 3.27 4,738 463,306,575 1,126,156,673

RAK Properties 1.27 1.25 1.35 1.23 0.05 3.94 1,336 119,055,320 153,772,228

Abu Dhabi Cement and Building Companies (last week)

Companies Previous Closing

Close High Low Price Change No. of

Trades Volume Value

Value %

Abu Dhabi National Co. for B and M 1.2 1.13 1.19 1.11 0.05 4.42 54 1,447,897 1,664,669

Arkan Building Materials Co. 2.58 2.43 2.50 2.31 0.03 1.25 34 455,034 1,114,225

Fujairah Building Industries P.S.C. 1.6 N/A N/A N/A N/A N/A N/A N/A N/A

Fujairah Cement Industries 1.23 1.23 1.23 1.23 N/A N/A 1 5,000 6,150

Gulf Cement Co. 1.49 1.54 1.54 1.45 0.04 2.72 80 3,941,213 5,801,650

Ras Al Khaimah Cement Company 1.52 1.43 1.53 1.42 0.04 2.80 73 3,862,211 5,734,339

Ras Al Khaimah Ceramic Co. 3.64 3.80 4.00 3.50 0.09 2.37 95 11,147,942 44,183,743

Ras Al Khaimah White Cement 1.82 1.89 1.80 1.71 0.09 5.00 6 190,200 343,656

Sharjah Cement and Industrial Development Co.

1.18 1.19 1.20 1.16 0.01 0.85 15 907,653 1,067,664

Umm Al-Qaiwain Cement Industries Co. 1.29 1.29 1.29 1.23 N/A N/A 2 98,600 124,878

Union Cement Co. 1.46 N/A N/A N/A N/A N/A N/A N/A N/A

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

10

The chart below shows the top 5 companies with the highest percentage change of price in the

real estate and construction sectors in both markets during the last week.

Weekly % Change of Price - Top 5 Companies

The chart below represents the top 5 companies by volume in the real estate and construction sectors in both markets during the last week.

Most Active by Volume - Top 5 Companies (last week)

27.19

14.93

8.98

5 4.42 3.94 3.78

0

5

10

15

20

25

30

NationalIndustries

Group Holding(S.A.K.)

Al MazayaHolding

Company

EmaarProperties

PJSC

Ras AlKhaimah

White Cement

Abu DhabiNational Co.for B and M

RAK Properties ArabtecHolding PJSC

0

50,000,000

100,000,000

150,000,000

200,000,000

250,000,000

300,000,000

350,000,000

400,000,000

450,000,000

500,000,000

Eshraqproperties

Co.

ALDARProperties

PJSC

UnionProperties

PJSC

DeyaarDevelopment

PJSC

ArabtecHolding PJSC

RAKProperties

EmaarProperties

PJSC

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

11

WEEKLY TENDERS Here is a list of the live tenders:

N: Issue Date Bid Due Date Title Issuer Sector

1 4/18/2014 5/5/2014 Maintenance Haritha Bin

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

2 4/18/2014 5/5/2014 Maintenance and Additions to Shaimaa School

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

3 4/18/2014 5/5/2014 Maintenance and Additions to the Mosque

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

4 4/18/2014 5/5/2014 Maintenance of School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

5 4/18/2014 5/5/2014 Maintenance and Additions to Khawla School

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

6 4/18/2014 5/5/2014 Maintenance and Additions to the Mosque Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

7 4/18/2014 5/5/2014 Maintenance and Additions to Umm School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

8 4/18/2014 5/5/2014 School Maintenance Flower of Cities

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

9 4/18/2014 5/5/2014 Maintenance and Additions to the Mosque

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

10 4/18/2014 5/5/2014 Maintenance and Additions to School

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

11 4/19/2014 5/8/2014 Provision of Training Module on Using Spatial

Planning Techniques

International Renewable Energy Agency

Services: Associations

12 4/23/2014 5/12/2014 Supply, Installation, Operation and Replacement of

Central AC

Ministry of Interior - UAE Governmental Institutions:

Ministries and Municipalities

13 4/22/2014 5/22/2014 Remove and Replace Aluminium Composite Panels

Dubai Electricity and Water Authority

Governmental Institutions: Regulatory and Administrative

Bodies

14 4/22/2014 5/5/2014 Maintenance of Dubai Immigration Main Office

Dubai - Naturalization and Residency Administrator

Governmental Institutions: International Organizations

15 4/22/2014 5/28/2014 Design and Build of the Boardwalk and Piers Nakheel Real Estate: Landlords and

Developers

16 4/22/2014 5/20/2014 Restaurant Buildings and Associated Infrastructure

Works Nakheel

Real Estate: Landlords and Developers

17 4/22/2014 5/20/2014 Construction of Retail Center Nakheel Real Estate: Landlords and

Developers

18 4/23/2014 5/6/2014 Repair of Fabric of Area-1, 18mx5.5m, of Car Parking Dubai Health Authority Governmental Institutions:

Regulatory and Administrative Bodies

19 4/23/2014 5/14/2014 Installation of New Gas Piping Network

Ministry of Public Works - UAE

Governmental Institutions: Ministries and Municipalities

20 4/23/2014 5/14/2014 Construction of Hospital

Environment Agency - Abu Dhabi

Services: Associations

21 4/23/2014 5/26/2014 Construction of Road Nakheel Real Estate: Landlords and

Developers

22 4/23/2014 5/29/2014 Implement the Project of Community Sports

Facilities

Abu Dhabi Sports Council (ADSC)

Education: Vocational Trade Education

23 4/23/2014 5/29/2014 Implement the Project of Community Sports

Facilities

Abu Dhabi Sports Council (ADSC)

Education: Vocational Trade Education

24 4/23/2014 5/29/2014 Implement the Project of the Sports Academy

Abu Dhabi Sports Council (ADSC)

Education: Vocational Trade Education

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

12

25 4/25/2014 5/15/2014 Provision of Power and Cooling Enhancement

Emirates Telecommunications Corporation

Telecommunications: Telecommunications Services

26 4/25/2014 5/14/2014 Provision of Power ft Cooling Enhancement

Emirates Telecommunications Corporation

Telecommunications: Telecommunications Services

27 4/25/2014 5/14/2014 Supply of Power and Cooling Enhancement

Emirates Telecommunications Corporation

Telecommunications: Telecommunications Services

28 4/25/2014 5/15/2014 Power and Cooling Enhancement

Emirates Telecommunications Corporation

Telecommunications: Telecommunications Services

29 4/25/2014 5/26/2014 Infrastructure for Third Party Plots Nakheel Real Estate: Landlords and

Developers

30 4/26/2014 5/13/2014 Maintenance of Bidiya School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

31 4/26/2014 5/13/2014 Provision of School Spent the Maintenance Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

32 4/26/2014 5/13/2014 Provision of Jasmine Maintenance Kindergarten Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

33 4/26/2014 5/13/2014 Provision of Maintenance Day Kindergarten Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

34 4/26/2014 5/13/2014 Maintenance of Anfal Kindergarten Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

35 4/26/2014 5/13/2014 Maintenance of Kindergarten Delight Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

36 4/26/2014 5/13/2014 Additions to the Building Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

37 4/26/2014 5/13/2014 Provision of Bottoms Maintenance School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

38 4/26/2014 6/4/2014 Creation and Delivery of Building Civil Defense

Department Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

39 4/26/2014 6/4/2014 Create and Accomplish Center Building Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

40 4/26/2014 5/13/2014 Provision of Maintenance School Riffa Secondary

School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

41 4/26/2014 5/13/2014 Maintenance of Muhallab School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

42 4/26/2014 5/13/2014 Maintenance and Additions and Maintenance Sur

Cordoba School Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

43 4/29/2014 5/19/2014 Renovation of the First Floor Abu Dhabi Chamber of Commerce & Industry

Services: Associations

44 4/29/2014 5/13/2014 Provision of Electrical Installations - Maintenance

Management Dubai Police

Governmental Institutions: Justice and Public Services

45 4/29/2014 5/18/2014 Design and construction of Extending Sheikh Zayed

Bin Sultan Street Department of Transport -

Abu Dhabi Construction

46 4/29/2014 5/11/2014 Construction of Windbreaks Al Ain Municipality Construction

47 4/29/2014 5/19/2014 Provision of EPC of Road and River Crossings of

Pipelines and Cables Petrochina International Iraq

Fze Services: Associations

48 4/29/2014 5/12/2014 Construction and Completion of a Residential

Complex Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

49 4/29/2014 5/12/2014 Construction and Completion of a Residential

Complex Ministry of Public Works -

UAE Governmental Institutions:

Ministries and Municipalities

50 4/29/2014 5/13/2014 Provision of Perform the Expansion Custody Light Ministry of Education Construction: Construction

and Design

TIMMINT Market Intelligence Weekly Report 25-01 May 2014

13

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