Arabtec, $87m Sky Gardens deal
Arabtec has won a contract worth $87m from Kuwait-based First Dubai for Real Estate Development to build a 47-storey residential tower, called Sky Gardens, in the Dubai International Financial Centre. The tower will have a total of 575 studio, one, two and three bedroom apartments and penthouses.

Al Ameera bids soon
Tameer Holding will soon invite contract bids for the $327m Al Ameera Village project, a senior official told Gulf News. The development will have a cluster of residential units, set for completion in 2007. The company is also building the 107-storey Princess Tower, which it says will be the world's tallest residential tower, at Dubai Marina.

No go-slow says Nakheel
Nakheel has denied media reports of a slowdown in construction of its offshore island projects, the World and Palm Deira. CE James Wilson told Gulf News both projects are proceeding on schedule, with 71.5% of the World project completed to date. The Dubai government-owned developer currently has a total of 220 projects running.

$27bn deals at Cityscape
Property developers racked up deals worth $27bn prior to and during Cityscape, the three day property expo that concluded yesterday, with Saudi companies alone reporting $6.8bn worth of business, according to organisers. The event registered a record 300 exhibitors from 51 countries.

Kling designs villas for Falcon
German design firm Kling Consult will carry out the concept design for 345 villas in the Falcon City of Wonders project at Dubailand, following an agreement. The villas will form part of the first phase of the project, which will also include a museum about the history of world civilizations and the development of the UAE.