Latest news with #ChinaRailwayGroup
Zawya
37 minutes ago
- Business
- Zawya
Arada awards AED678mln construction contract for Armani Beach Residences at Palm Jumeirah to China Railway Group subsidiary
First phase of construction is complete with enabling, piling and shoring works finished Dubai, United Arab Emirates – Arada has awarded the main construction contract for the ultra-luxury Armani Beach Residences at Palm Jumeirah to a subsidiary of global construction giant China Railway Group Ltd (CREC). Valued at AED678 million, the contract will result in the development of the landmark project by the end of 2027. CREC subsidiary China Tiesju Civil Engineering has extensive experience across the Middle East, Africa, Latin America and Asia in executing complex projects. The conglomerate's track record of on-time delivery to an exceptional level of quality underscores Arada's commitment to setting a new standard for the high-end Dubai residential market. Designed in partnership with Armani/Casa Interior Design Studio and the Pritzker-Prize-winning Japanese architect Tadao Ando, Armani Beach Residences at Palm Jumeirah features panoramic views of the Arabian Gulf and Dubai's famed skyline, as well as 90,000 square feet of high-quality amenities and 57 individually designed homes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'This appointment marks a key step forward for a project that stands as one of Dubai's most anticipated ultra-luxury developments, and is in line with our promise to work with world-class partners on this landmark project. Set against the iconic backdrop of Palm Jumeirah, Armani Beach Residences reflects Arada's ambition to deliver exceptional design, craftsmanship, and a truly elevated lifestyle experience.' Launched in 2024, Armani Beach Residences at Palm Jumeirah has set a new benchmark for design-led ultra-luxury beachfront living in Dubai, combining minimalism, natural harmony and refined detail with impressive views of the Arabian Gulf and Dubai's skyline from the outer crescent of the iconic man-made islands. Every beautifully appointed home is defined by a desire to bring extravagant ocean and skyline views into its interior, with a wide array of configurations including including two-, three-, four-, five-bedroom and penthouse residences all offering unrestrained access to the exterior view. Armani Beach Residences at Palm Jumeirah also includes two presidential suites, which combine numerous different internal function areas – including a contemplative courtyard space with reflective pool, a personalised gym, libraries, a private cinema, and a private parking lounge with space for seven cars – with an opulent mega-terrace featuring an infinity pool. Buyers of penthouses and presidential suites will have the opportunity to work directly with Armani/Casa to deliver a truly bespoke interior scheme for their homes. The project was named Best Branded Residence at Robb Report's Best of the Best 2024 and also won Waterfront Project of the Year at the 2024 Pillars of Real Estate Awards. The show apartment for Armani Beach Residences at Palm Jumeirah is available for viewing at the Arada sales office in City Walk. About Arada Launched in 2017 and headquartered in the UAE, Arada was created to build spaces people connect with for healthier, happier and more meaningful lives. Arada's scope of operation covers property development, retail, education, healthcare, fitness, wellness and hospitality. The master developer has so far launched nine record-breaking communities in the UAE and has expanded into the Australian market, opening an office in Sydney in 2024. Arada also operates a portfolio of complementary brands and experiences, which includes large-scale gyms, F&B and retail assets, social initiatives and visitor destinations. For more information and high-resolution images contact media@ For more information about Arada:
Yahoo
23-06-2025
- Business
- Yahoo
World's Top 100 Companies Industry Report 2025
Discover insights from the World's Largest Companies (Top 100) report, providing a comprehensive analysis of industry giants like Airbus, BASF, and China Railway Group Limited. Evaluate market leaders, spot potential failures, and explore acquisition opportunities through exclusive data and financial assessments. Dublin, June 23, 2025 (GLOBE NEWSWIRE) -- The "World's Largest Companies (Top 100) - Industry Report" report has been added to offering. The World's Largest Companies (Top 100) report provides a detailed overview of the market and delivers a comprehensive individual analysis on the top 100 companies, including Airbus, BASF and China Railway Group Limited. The analysis conducted in the Top 100 World's Largest Companies report is ideal for anyone wanting to: See the market leaders Identify companies heading for failure Seek out the most attractive acquisition Analyse industry trends Benchmark their own financial performance Using an exclusive methodology, a quick glance of this World's Largest Companies (Top 100) report will tell you that 47 companies have a declining financial rating, while 5 have shown good sales of the largest 100 companies is meticulously scrutinised in an individual assessment and analysed using the most up-to-date and current financial data. Every business is examined on the following features: A graphical assessment of a company's financial performance Four year assessment of the profit/loss and balance sheet A written summary highlighting key performance issues Subsequently, you will receive a thorough 100-page market analysis highlighting the latest changes in the World's Largest Companies (Top 100) market. This section includes: Best Trading Partners Sales Growth Analysis Profit Analysis Market Size Rankings You can utilize the findings within this report to assess the attractiveness of potential acquisitions, gain a better understanding of the market, and identify sound companies with whom to trade. The report is split into two sections and uses both a written and graphical analysis - analysing the 100 largest World's Largest World's Largest Companies (Top 100) report contains the most-up-to-date financial data and the publisher applies these figures to create their unique and authoritative the first section thoroughly scrutinises the market and this section includes the following: Best Trading Partners: These are companies that are winning in both sales and financial strength - for example Facebook, Inc. has been ranked as a best trading partner in the industry. Sales Growth Analysis: This section reviews the fastest growing and fastest shrinking company - for example Rosneft Oil Company is among the fastest growing. Profit Analysis: Analysis of gross profit and pre-tax profit over the last ten years and a profitability summary comparing profits in the industry against small, medium and large companies. Market Size: Based on the largest 100 companies, this is a comparison between last year's market size and the most current figure. Rankings: The top 50 companies ranked by: Market Share, Sales Growth, Gross Profit and Pre-tax Profit. The next section focuses on company analysis and provides an in-depth analysis of the largest companies within the World's Largest Companies (Top 100) business is analysed using the publisher's unequivocal model and culminates in the production of The Publisher's Chart. The Publisher's Model uses a series of charts to graphically analyse an individual company and measure its ability to achieve sales growth while maintaining financial Publisher's Chart is a quick and dependable method of analysing a company's financial well-being. It's simple to understand: a rising line is good news and a falling line is bad this company analysis will tell you if a company is: Strong or heading for failure Utilising their investments Becoming burdened by debt Getting the most from their resources The Top 100 World's Largest Companies analysis also provides you with full business name and address, name and ages of directors and registration address. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
02-04-2025
- Business
- Yahoo
China urges firms to follow laws after Bangkok building collapse
China's embassy in Bangkok called on Chinese companies operating abroad to comply with local laws after a Chinese construction firm came under scrutiny for a deadly building collapse in last week's earthquake. The 30-storey skyscraper, set to house government offices, was the only major building to collapse in Bangkok when a 7.7 magnitude earthquake struck neighbouring Myanmar Friday, with tremors felt as far as the Thai capital. Thai authorities say they are launching a probe into the construction firms responsible amid suspicions they used substandard steel rebar in the structure. The development near Bangkok's popular Chatuchak market was a joint project involving China Railway No. 10 Engineering Group (Thailand) -- an offshoot of China Railway Group (CREC), one of the world's largest construction and engineering contractors. AFP was unable to reach the Chinese company involved in the project for comment. The Chinese embassy in Bangkok late Tuesday expressed "deepest condolences" for the collapse and urged firms to "strictly" comply with Thai laws. "The Chinese government has consistently urged Chinese companies overseas to abide by local laws and contribute positively to the society," the embassy said in a Facebook post only in Thai. Beijing has dispatched a team of rescue experts and disaster relief personnel to assist in Bangkok and vowed to "continue supporting Thailand as needed", it added. It has also urged Chinese firms to cooperate "strictly" with Thai authorities as they investigate the collapse. The local partner in the project, Italian-Thai Development (ITD), offered condolences on Monday to quake victims but said it was "confident" the incident would not impact its other projects. The collapse was the deadliest single incident in Thailand from the earthquake, with the majority of the kingdom's 22 fatalities thought to be workers on the building site. tak/sjc/mtp
South China Morning Post
02-04-2025
- Business
- South China Morning Post
Bangkok tower collapse: Chinese contractors under scrutiny amid ‘tofu building' claims
The collapse of a 30-storey tower in Thailand 's capital during last week's earthquake has raised questions about the use of shoddy building materials and alleged corruption in the Thai construction industry tied to Chinese contractors. Advertisement At least 13 people died when the State Audit Office tower in Bangkok's Chatuchak district crumbled to the ground on Friday, with thermal imaging suggesting scores of bodies remain buried in the wreckage. The under-construction skyscraper was the only building in the city to collapse, despite thousands of others swaying and cracking from the tremor, whose epicentre was in neighbouring Myanmar Construction on the tower – a joint venture between Thailand's Italian-Thai Development company and China Railway Number 10 Engineering Group, a local subsidiary of China's state-owned China Railway Group – began in 2020, but the US$60 million project had already faced delays and allegations of irregularities. A composite picture of satellite images shows the under-construction tower in Bangkok on December 25 (left) and after it had collapsed on Friday. Photo: Planet Labs PBC/Reuters Tests on steel rebar used in the building revealed substandard materials in some samples, according to Nontichai Likhitaporn, inspections director at the Thai Industrial Standards Institute. Investigators have yet to confirm whether the materials caused the collapse, however.
Yahoo
01-04-2025
- Business
- Yahoo
Chinese developer under scrutiny over Bangkok tower quake collapse
A Chinese construction company is facing questions over the deadly collapse of a Bangkok skyscraper -- the only major building in the capital to fall in a catastrophic earthquake that has killed more than 2,000 people in Thailand and neighbouring Myanmar. The 30-storey tower, still under construction, was to house government offices, but the shaking reduced the structure to a pile of rubble in seconds, killing at least 13 people and injuring nine. It was the deadliest single incident in Thailand after Friday's 7.7-magnitude quake, with the majority of the kingdom's 20 fatalities thought to be workers on the building site and hopes fading for around 70 still trapped. Sprawling Bangkok bristles with countless high-rise blocks, but none have reported major damage, prompting many to ask why the block under construction gave way. "We have to investigate where the mistake happened," said Thai Prime Minister Paetongtarn Shinawatra, who has ordered a probe into the materials and safety standards at the construction site. "What happened from the beginning since it was designed? How was this design approved? This was not the first building in the country," she told reporters on Saturday. The development near Bangkok's popular Chatuchak market was a joint project involving China Railway No. 10 Engineering Group (Thailand) -- an offshoot of China Railway Group (CREC), one of the world's largest construction and engineering contractors. - Questions raised - Testing of steel rebars -- struts used to reinforce concrete -- from the site has found that some of the metal used was substandard, Thai safety officials said on Monday. Industry Minister Akanat Promphan announced that a committee would be set up to investigate, saying one supplier of the steel had failed safety tests in December and may have its licence withdrawn. He did not name the supplier. Professor of Civil Engineering at King Mongkut's Institute of Technology Ladkrabang Suchatwee Sunaswat said there were questions to be answered. "We have to look at the design. At the beginning, how they calculate, how they design. And in the rescue mission, how they collect evidence at the same time," he told reporters on Saturday. - Safety complaints - The local partner in the project, Italian-Thai Development (ITD) offered condolences on Monday to quake victims but said it was "confident" the incident would not impact its other projects. Beijing-owned building conglomerate CREC is one of the world's largest construction and engineering contractors, with projects in more than 90 countries and regions, according to its website. The Bangkok construction collapse is not the first time CREC and its subsidiaries have come under fire after deadly incidents. A tide of anger was unleashed at authorities in Serbia following the deaths of 14 people when a roof collapsed in November last year at a train station built by CREC subsidiaries -- largely focused on reports of alleged shortcuts made with building projects. Roisai Wongsuban of the Migrant Working Group advocacy organisation said there have been a large number of complaints from migrant workers employed by Chinese companies in Thailand about lax safety standards and poor labour rights. "For Chinese companies we can't see the human rights due diligence, to see if labour standards are being met," she told AFP. "There is always a power imbalance between employer and employee." Bangkok's construction boom is powered by an army of labourers, a large proportion of them migrant workers from Myanmar, toiling on hot building sites for low pay. The Migrant Working Group has called on Thailand's labour ministry to hold the employers involved in the construction project criminally liable if they have failed to meet health and safety laws. - China sensitivities - AFP has asked China Rail No. 10 Engineering Thailand and CREC for comment but has not had a response. An announcement celebrating the completion of the main structure at the Chatuchak construction site posed on China Rail No. 10's official WeChat channel was deleted soon after Friday's quake. AFP archived the post shortly after the tremors hit but before the page was removed. Local media said that four Chinese nationals were apprehended on Saturday for attempting to retrieve documents from the collapse site. But China is the largest source of foreign direct investment in Thailand, injecting $2 billion into the kingdom in 2024, according to Open Development Thailand, and the government typically handles anything linked to Beijing with kid gloves. Paetongtarn said an investigation into the collapse launched on Monday would not be "specific to one country". "We do not want one particular country to think we are only keeping eyes on (it)," she said on Tuesday. At a small shelter near the site on Monday, 45-year-old Naruemol Thonglek waited for news of her boyfriend, electrician Kyi Than, who was missing under the enormous mound of concrete and twisted metal being lifted by mechanical diggers. "I'm devastated," she told AFP. "I've never seen anything like this in my entire life." sjc-ci/pdw/dhw
