KBW Investments (KBW) and Sharjah’s Basma Group (Basma) have announced the formation of ARADA, a new property developer to be focused on mid-market residential properties. ARADA is the third company established by the two partners over the past year, following the formation of construction ventures Klampfer Middle East LLC and Arcadia Middle East LLC in April 2016, both headquartered in ...

Global credit rating agency Standard & Poor’s has lowered its long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah from ‘A/A-1’ to ‘BBB+/A-2’ with a stable outlook. The agency attributed the change largely to an increase in government debt and slower than expected fiscal consolidation. S&P also forecasts faster economic growth in 2017, increasing ...

Masdar, Abu Dhabi’s renewable energy company, is to build a new 300,000 tonne waste-to-energy plant in partnership with Bee’ah, Sharjah’s integrated environmental and waste management company. The news follows the signing of a Memorandum of Understanding (MoU) between Masdar and Bee’ah in 2016 to collaborate in the development of new energy projects. Owned by the government of Abu Dhabi, Masdar ...