News

June saw a 1.1% improvement in Canada’s Lumber production

Posted on Sep 22, 2021 Source

  • Canada’s lumber production increased 1.1% in June 2021 compared to June of last year.
  • The production reduced 0.02% from May 2021 to 4,928.2 thousand cubic meters in June and sawmills shipped 4,777.5 thousand cubic meters of lumber in June which is  3.7% down from May and 0.7% down from June 2020.

SOL Properties begin a new project of 275 residential units in Jumeirah

Posted on Sep 22, 2021 Source

  • SOL Properties, a real estate development branch of Dubai-based Bhatia Group launched SOL Serene in the Jumeirah Village Circle (JVC) community.
  • SOL Serene features 275 apartments, includes one and two-bedroom units and studios.

Dunkley Lumber Company declared $100 million worth of expansion to expand lumber production in the sawmill

Posted on Sep 22, 2021 Source

  • The expansion aims to increase lumber production capacity by 75% annually from the current 130 million board feet to 230 million board feet.
  • Privately owned Canadian Forestry company, Dunkley Lumber Company, will increase production in Saskatchewan sawmill facility to create 240 direct and indirect jobs through growth in lumber sales and exports 

Egypt launches 9 projects of $5 million in Sharqia

Posted on Sep 22, 2021 Source

  • Egypt launches 9 new projects in Sharqia Governorate's Minya El-Qamh, worth EGP 74.8 million.
  • Four projects at EGP 65.6 million will be inaugurated in the road and bridge sector.
  • Two youth centers and two veterinary centers will develop in the governorate, valued at  EGP 2.4 million and EGP 843,000

Russia adopts new law for the development of forest inventory

Posted on Sep 22, 2021 Source

  • In early 2022, the Federal Forest Inventory plan will operate to change forest management works
  • The law gives timely and credible information about forest resources to forest users.

Aldar and ADQ’s consortium to acquire 90% stake of Sixth of October for Development and Investment Company (SODIC)

Posted on Sep 22, 2021 Source

  • Aldar Properties and Abu Dhabi holding company ADQ proposed to EGX-listed real estate company SODIC for a 90 % stake
  • The offer is for at least 51% of the share capital of The SODIC.

August saw a 0.6% decline in construction input prices in Washington

Posted on Sep 22, 2021 Source

  • Construction input prices are over 20.8% higher compared to last year despite the monthly decline.
  • The natural gas price increased by 132.2% yearlong and total steel mill products by 123.1% 
  • Iron and steel products grew by 95.2% and unprocessed energy materials and crude petroleum prices also witnessed a 79.2% and 74.8% increase 

Serenia Residences buys land in Jumeirah for $138.3 million to develop new beachfront

Posted on Sep 22, 2021 Source

  • The new project is estimated at AED2.5 billion, with 1.2 million square feet of area which will launch next year

Congestion continues to grow as vessel movements surged at San Pedro Bay Ports

Posted on Sep 22, 2021 Source

  • The surge in vessel movement per visit became the reason for the congestion as the average container required to load and unload per ship call at major gateway ports increased due to the pandemic.
  • The average container boxes per berth increased by 7.2% in the first half of 2021 compared to the first half of 2020.
  • At the port of Long Beach, the average call sizes are over 70% higher than before the pandemic
  • In Singapore and Shanghai, call sizes saw an increase...

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Al Akaria to raise $426.4 million for Qiddiya and Roshan projects

Posted on Sep 22, 2021 Source

  • Saudi Real Estate Company, Al Akaria will raise SR1.6 billion ($426.4 million) through property rights issues to fund projects in Qiddiya and Roshan
  • The company aims to revive previous projects, support and execute future projects and expand its activities 

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