The over one kilometre tall Kingdom Tower will replace Dubai’s Burj Khalifa, 828 metres tall, as the highest in the world.
The proposed reforms include replacing a contentious sponsorship law, known as “kafala”, in which workers need their employer’s permission to change jobs.
Kingdom City in Jeddah will also include mixed-use residential and commercial developments, the chief executive said.
The company made a profit of OMR8.23 million ($21.4 million) in the three months to March 31.
The firm made a net profit of Dhs45.7 million ($12.4 million) in the first three months of 2014.
The second phase of the project is scheduled to be completed by 2016, RTA chairman Mattar Al Tayer said.
The Dubai-based contractor said is planning a series of acquisitions and mergers.
The six storey property is set for a 2015 completion.
The value hotel brand plans to supply over 1,750 new hotel rooms and serviced residences.
Constella is to be the first Hotel Apartments in Dubai to Receive Official Sharia-Certification
The Omani contractor will construct phase two of the Al Ghurair plant expansion in Abu Dhabi’s ICAD – I Mussafah.
72 By Hues is looking to capitalise on Sharjah’s growing tourism market.
The 10-year deal will be linked to the city’s railway project and will handle the procurement, operation and maintenance of the buses.
Arabtec is trying to evolve from a local contractor into a multinational development company as its finances are boosted by a recovery in Dubai’s property market.
Additions include a tunnel under the southern runway, nine new aircraft stands and an automated passenger mobility system.
The company had earlier proposed a cash dividend of Dhs0.1 ($0.03) per share plus bonus shares worth 30 per cent of its share capital.
The new subsidiary specialises in the training of Emiratis across a variety of sectors.
The contractor has won a series of deals in the region recently, including the development of Abu Dhabi’s main airport and the building of a Louvre Museum.
Facilities under development include The Butterfly, DuBiotech’s headquarters, the Makateb development and the Publishing Pavilion.
Wire World is set to cover 25,000 square feet and will be located adjacent to Meydan Racecourse.
The project was designed by award-winning architects Rafael Vinolycovers and developed by state-owned investment company Mubadala.
Ras Al Khaimah’s biggest property developer gained revenues of Dhs86 million for the first three months of the year.
The project will include the upgrade and refurbishment of all 393 guest rooms
The 60,000 seat venue has taken 14 months to construct.
UAE developer says it is awaiting approval for the master plan of the project, which is expected to house 200,000 to 250,000 people upon completion.
The firm will undertake the civil construction portion of the mixed use development in Algiers, it said in a statement.
The Gulf state has cut down the number of stadiums to eight from the original plan of 12, a senior official said.
The Kingdom Tower project has been undergoing exhaustive testing works before construction begins on April 27.
The firm’s operating profit fell 96 per cent partly due to reforms in Saudi Arabia’s labour market.
Dubai’s Roads and Transport Authority (RTA) confirmed that the diversion of utility lines is almost complete.