UAE approves four-year federal budget focused on social spending

The United Arab Emirates approved its federal budget to 2026 and focused most of next year’s spending on social benefits and development. The Gulf country approved a total of 58.9 billion dirhams ($16 billion) of spending in 2022, nearly the same as last year. Most of the spending is going to development and social benefits, according to the state-run WAM news agency. Nearly 16% will go to higher education, 6% to social affairs, 8.4% to the health sector and 3.8% to infrastructure and economic resources. The total budget allocation for 2022-2026 is…

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Investors step in to take control of Elliot’s £70m Liverpool hotel

A consortium of investors has exchanged contracts on the stalled 306-bedroom hotel project on Norfolk Street.  Last year, receiver David Currie & Co was brought in to sell the 16-storey Baltic Triangle building on behalf of charge holder Virtuoso Investments, a company based in the Seychelles that had invested in the scheme.  In March, administrators HBG Insolvency were drafted in to speed up the sale process.  Now, a group of investors has taken control of the £70m project and intends to build it out.  “When my schemes were placed in administration I made a promise that I…

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Brent Cross Town: £6bn regeneration scheme will be London’s biggest ’15-minute town’

The project is the capital’s most ambitious since the start of the coronavirus pandemic. London’s most ambitious regeneration project since the start of the pandemic will become the capital’s biggest “15 minute town” where shops, offices, restaurants, parks and the train station are all within a quarter of an hour’s walk, developers said today. Details of Brent Cross Town, a £6 billion scheme near the north west London shopping mall were unveiled for the first time by property joint venture Argent Related. Argent, which has teamed up with US firm Related Developments, is the company…

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