5 March, 2024

New residential development project launched in Saudi Arabia

Roshn has launched the fourth phase of its flagship project, 'Sedra,' in capital Riyadh. Unveiling the new phase, it is set to introduce 4,860 residential units to the development, spread over a sprawling 1.9 million sq m area, interspersed with attractive public spaces which account for 30% of the phase's footprint. SEDRA's latest phase offers a variety of home typologies, with 10 floorplans and 2 facades to choose from, and a focus on units with three-, four- and five-bedrooms that cater to all family demographics. 
All of them are designed to honour traditional architectural forms of the region while incorporating cutting-edge materials, engineering, and technology, preserving the Kingdom's heritage while offering customers all the benefits of modernity. Sedra's latest phase includes a rich array of amenities designed to support healthy and fulfilling lifestyles, including an expansive Sports for All Federation Dome, the largest in the kingdom, shaded footpaths, green spaces as well as  neighbourhood retail centres and mosques. Strategically located north of the third phase, Sedra 4 is near to several important landmarks, including Princess Nourah University, Imam Mohammed Ibn Saud University, King Khalid International Airport, and the SAR railway station. SEDRA 4 will be accessible directly via Airport Road, with Metro Stations F2 and A7 nearby. Once completed, this phase is projected to achieve a Mostadam gold rating, a green building rating system developed by the Saudi Ministry of Housing and administered by Sustainable Building.

5 March, 2024

Agreements signed for water rehabilitation project in Jordan

The Ministry of Water and Irrigation has signed an agreement under the sixth phase of the Deir Alla and Karameh water networks rehabilitation project in Balqa for the drilling of 16 wells in Abu Zyghan area. The value of the agreement stands at 97.24 million euros, funded through a loan from the European Investment Bank (EIB) and self-finance, while the funding for the studies, design and supervision aspects was secured via a grant from the USAID.
Aimed at improving the water supply across 17 areas in Deir Alla and Karameh districts, this scheme is structured around seven distinct packages. Through the adoption of natural flow pumping techniques, the project seeks to extend the operational longevity of water networks, enhance service efficiency and promote equitable water distribution. The ministry's commitment to addressing the challenges posed by surging water demand across the Kingdom. The drilling of the 16 wells in Abu Zayghan, at a cost of $13.550 million, includes an exploratory well designed to bolster water availability in Deir Alla and Karama.

5 March, 2024

Contract awarded for a steel industry in Iraq

Iraq has awarded a contract to a Chinese company to build an industrial city for the production of steel and other metals to cater for local demand. The project is based in the Southern Basra city and is the first of its kind in Iraq, which has been locked in a massive post-war rebuilding plan. This project will be dedicated to steel industries as well as aluminium and other metals, it will be built by a Chinese company on a 7,500-square-metre site in Basra.

5 March, 2024

Consultancy bids has invited for oilfield development in Kuwait

OPEC producer Kuwait is planning to invite bids for consultancy services for the development of one of the largest oilfields in the North. Development of Bahra field, one of Kuwait's oldest oil fields, would eventually lift its production to nearly 145,000 barrels per day (bpd) as part of the country's long-term oil strategy until 2040. After it was discovered in 1936, the field was producing nearly 3,000bpd, which was boosted now to around 45,000bpd. The field, which consists of six main reservoirs, has the capacity to produce 110,000bpd at the end of 2024 and capacity could be lifted to 145,000 later.

4 March, 2024

Deal signed to develop mixed-use project in Saudi Arabia

Azad Properties, Proper Developments, and Hilton have announced the official signing of a transformative real estate collaboration, further contributing to the evolution of Jeddah's thriving real estate landscape. The hospitality-oriented mixed-use development within Souq7, developed by Proper Developments, includes a Hampton by Hilton hotel, retail spaces, and offices. Expected to open in 2026, Hampton by Hilton Souq7 will bring the brand's award-winning thoughtful and friendly hospitality to guests staying in the missed-use community. The 216-key hotel will feature a variety of guest rooms, a fully equipped fitness centre, and two meeting rooms to cater to business travelers, as well as several value-added amenities such as a lobby lounge, contactless arrival, and a complimentary breakfast. The retail built-up area spans 3,900 sq m, offering a diverse array of shopping experiences, while the office spaces encompass 6,800 sq m, catering to the needs of modern businesses.

4 March, 2024

Agreement signed to operate resorts in Saudi Arabia

Dan Company, a subsidiary of Saudi sovereign wealth fund PIF which specialises in the fields of agri-, eco- and adventure tourism, has signed an agreement with global hospitality major Hilton to operate three of its key resorts located in the Al Ahsa region of Saudi Arabia's Eastern Province and Unesco World Heritage site, which is home to Al-Ahsa Oasis - the largest date palm oasis in the world. With lush surroundings and homegrown farms at its doorstep, the 1.8 million sq m master development aims to create a premium farm-based tourism destination in the heart of Al Ahsa, thus attracting visitors looking to connect with nature and enjoy a diverse range of experiences in the significant agricultural region. The agreement for the resorts - Al Ahsa Agritourism Resort, LXR Hotels & Resorts; Al Ahsa Eco Resort, Curio Collection by Hilton; and Al Ahsa Adventure Resort, Curio Collection by Hilton - was sealed by the visiting global Hilton leaders with Dan Company during their recent visit to the kingdom. 
The resorts will be easily accessible via main roads, with Riyadh, Dammam, Khobar, Jubail, Bahrain, and Qatar within a one-and-a-half to three-and-a-half-hour drive away. The signing of these three hotels further expands its footprint in Saudi Arabia, where the group plans to quadruple its portfolio. Each resort will have a distinct offering, from luxury at the LXR Hotels & Resorts Agritourism Resort, wellness and wellbeing at the Curio Collection by Hilton Eco Resort, and outdoor adventure at the Curio Collection by Hilton Adventure Resort. A central activation area will also be available to guests and the public, which will include a nature garden, an amphitheater, dining and retail options, a farmers' market, and other multi-purpose spaces for local agricultural vendors and retailers to exhibit.

4 March, 2024

$159mln EPC contracts signed for gas pipeline projects in Saudi Arabia

Saudi-listed Gas Arabian Services Company (GAS) has signed two engineering, procurement and construction (EPC) contracts worth 598.01 million Saudi riyals ($159.46 million) with state-owned Saudi Power Procurement Company (SPPC) for gas pipelines. The first EPC contract for the Qassim pipeline is valued at SAR341.90 million, while the Taibah pipeline contract is worth SAR256.10 million. The duration for each contract is 22 months.

4 March, 2024

Construction work started for hotels projects in Egypt

SODIC (Sixth of October for Development and Investment Company) has started construction of four hotels in North Coast and West Cairo containing a total of 500 keys. The hotel projects are expected to help double the contribution of the hospital and retail business to overall revenues from the current 7 percent to approximately 15 percent by 2027.
'The Estates' project covers an area of over 630,000 square metres (sqm) and consists of 446 units. To date, 205 units have been delivered since November 2023, which represents approximately 50 percent of the project. The project's commercial component spans 2,751 sqm. As for the second project 'VYE,' the 464-acre project, which is being implemented in partnership with the New Urban Communities Authority (NUCA), includes more than 5,000 units.

4 March, 2024

First & integrated largest entertainment destination has launched in Egypt

Magic Land Al-Hokair, a subsidiary of Abdulmohsen Al-Hokair Group in the tourism and development sector, has launched Tanza in partnership with the Egyptian Media Production City company. The project, which covers an area of 250,000 sqm, is the first and largest integrated entertainment destination in Egypt, with investments worth EGP 1.1bn. Tanza aims to reshape and redefine the entertainment concept in Egypt through its unique business model and comprehensive entertainment agenda, which is unprecedented in Egypt and the Middle East. Tanza also supports the efforts of the Egyptian government to transform Egypt into a distinguished and attractive tourist destination worldwide.
Tanza offers a variety of entertainment options for all ages and tastes, as it features seven entertainment zones, including adventure, racing, sports games, forest, cinema and theater, children's area, and a dolphinarium. Tanza also hosts leading restaurant brands to cater to the visitors' culinary needs. The project introduces a new concept in the tourism and entertainment world in Egypt, with its immense production capacity and capabilities reaching global standards and promising a bright future. The project progresses according to a defined and studied strategy, focusing on meticulously studying the needs of the Egyptian market and adding value not only to customers but to the entire sector. The project's goal is to redefine the entertainment industry in Egypt, attract more tourists and investors worldwide, and put Egypt on the map of global tourism.

1 March, 2024

$225m carbon anode project to come up soon in Oman

Adding to Sohar Freezone's increasingly diverse metals cluster, a land lease agreement was signed last week for the establishment of a first-of-its-kind project that will manufacture prebaked carbon anodes for the global aluminium smelting industry. Total investment in the venture is estimated at $225 million. Sanvira Tech SFZ - a partnership of Omani and Indian investors - will develop the facility on a 155,000 m2 site at the free zone. At full capacity, the plant will manufacture around 300,000 tonnes per annum of prebaked carbon anodes for markets in the GCC, Europe and India. Significantly, the new project will be built downstream of a calcined petroleum coke plant that was launched at Sohar Freezone in November 2022 with an investment of around $156 million (RO 60 million). That project was developed by Sanvira Carbon (FZC), a joint venture between India's Sanvira Industries, Oman National Investment Development Company (Tanmia) and Omani chemicals manufacturing firm United Business Trading (UBT). With a production capacity of around 600,000 tonnes per annum of calcined petroleum coke, the plant is ranked among the largest of its kind in the region. The upcoming investment by affiliate Sanvira Tech will help boost value creation from the calcined petroleum coke project. Already, the new company has secured international offtake commitments covering part of its future output.

1 March, 2024

Plans underway to establish new factory in UAE

Petrozo Energy, a leading Singapore-based oil and gas company, has announced plans to establish a new manufacturing facility on a 430,000 sq ft area in the Hamriyah Free Zone, Sharjah. Under the agreement, a new Petrozo Energy plant will be set up in Sharjah's Hamriyah Free Zone with an estimated investment of AED120 million ($35.3 million). The state-of-the-art facility is projected to have a substantial monthly output capacity of 6,000 metric tonnes, equating to an annual production of approximately 72,000 metric tonnes. This expansion is expected to secure the company a 15% share of the total market production.

1 March, 2024

Construction work to commence soon on $19mln wastewater treatment project in Saudi Arabia

Saudi-listed Nama Chemicals Company is implementing a wastewater treatment project finalised in 2022 for treating wastewater fro9m its calcium chloride and epoxy resin plant. The project was delayed due to difficulties in securing the necessary financing. An amended contract, leading to a 26 percent rise in contract value to SAR 71.24 million ($19 million), has been signed to provide funding for the treatment units for over five years. Work on the project is expected to start on 10 March 2024, and end on 10 August 2025. Trial production will run for two months. The project will be implemented under a lease-to-own arrangement wherein project cost will be paid by Nama Chemicals as rental payments for five years, and at the end of that period, they will become the owners of the treatment units.

1 March, 2024

Contract for MEP works awarded for headquarters project in Saudi Arabia

Hassan Allam Holding announces that its subsidiary Kortech has been awarded the complete Mechanical and Electrical works for the head quarters of one of the top developers in the Kingdom of Saudi Arabia within the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. Kortech's extensive scope of works for the new offices in the iconic Tadawul Tower which spans the 23rd to the 30th floor, encompasses electrical works, fire fighting systems, plumbing works, HVAC systems, ELV ICT and communication solutions, data centers, broadcast systems, 4K video walls, contributing to a total approximate built-up area of 21,000 m2.

1 March, 2024

Construction work underway on hotels in Egypt

SODIC (Sixth of October for Development and Investment Company) has started construction of four hotels in North Coast and West Cairo containing a total of 500 keys. The hotel projects are expected to help double the contribution of the hospital and retail business to overall revenues from the current 7 percent to approximately 15 percent by 2027. 'The Estates' project covers an area of over 630,000 square metres (sqm) and consists of 446 units. To date, 205 units have been delivered since November 2023, which represents approximately 50 percent of the project. The project's commercial component spans 2,751 sqm. The 464-acre project, which is being implemented in partnership with the New Urban Communities Authority (NUCA), includes more than 5,000 units. SODIC is targeting the delivery of 1,991 units of VYE between 2025 and 2026, with the initial phases set to be handed over in the second quarter of 2025. The project is 45 percent complete.

1 March, 2024

$40 billion agreement signed for green hydrogen renewable energy projects in Egypt

Egypt signed seven Memoranda of Understanding (MoUs) in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years. The agreements represent a new step for the Sovereign Fund of Egypt (TSFE) in its investment partnerships with major global companies to establish green hydrogen projects in the Suez Canal Economic Zone. The agreements cover a wide range of projects, including the production of green hydrogen, green ammonia, and renewable energy.

1 March, 2024

Ground broken for green industrial data centres in Dubai

Emirates Global Aluminium (EGA) has broken ground on the region's first 100% renewable energy powered industrial data centres at its Jebel Ali and Al Taweelah sites. The new data centres will enable EGA to further deploy artificial intelligence and automation solutions at the heart of the company's industrial operations, while reducing EGA's total IT energy consumption by 50% through real-time Artificial Intelligence-optimised power, cooling management and latest generation computer infrastructure. EGA is developing the new data centres with local technology provider, Scientechnic. The construction is a key part of EGA's digital roadmap, which is transforming EGA's operations through Industry 4.0 adoption and broader digital transformation.
The data centres will improve the resilience of EGA's computing and will be certified to the Uptime Institute's Tier III standard, a global benchmark for data centres. The development of the data centres and the use of the hybrid cloud together increase EGA's data processing capacity by 2,300 times while significantly reducing unit processing costs, future proofing EGA's computing for the company's digital transformation.

29 February, 2024

Two new developments worth $26billion launched in UAE

Emaar Properties, a global property developer of pioneering architectural landmarks, announced the launch of two new major projects in Dubai -- The Heights Country Club and Grand Club Resort next to The Oasis, with a total development value of AED96 billion ($26.14 billion). The Heights Country Club, sprawling across 81 million sq ft and valued at AED55 billion, is poised to set a new standard in premium high-end living.  Designed to offer an exclusive retreat, it merges state-of-the-art amenities with serene landscapes, creating a haven of comfort and elegance. Spanning over 60 million sq ft and boasting a development value of AED41 billion, the Grand Club Resort features the best of wellness and opulence. The resort is meticulously designed to house world-class wellness facilities, offering an unparalleled experience in luxury hospitality. Both developments will feature environmentally conscious designs that are consistent with the company's goals of sustainable development and future-ready living spaces. These exclusive lifestyle destinations will be a harmonious blend of exclusivity, sustainability, and innovative design, setting new standards for high-end real estate in the UAE.

29 February, 2024

$41mln retail park launched in Dubai

Dubai-based Samana Developers has launched a 150 million UAE dirhams ($40.84 million) Samana Retail Park in Arjan master development. The retail community is near the Greek-inspired Samana Mykonos Signature residential project. The project is scheduled for handover in the first quarter of 2027.

29 February, 2024

Tender to commence soon for water desalination project in Egypt

The Suez Canal Economic Zone (SCZONE) has confirmed that it will tender a water desalination plant for the Zone soon. Preparations are underway in cooperation with European Bank for Reconstruction and Development (EBRD) to offer the first phase of the water desalination plant with a production capacity estimated at approximately 250,000 cubic meters per day through an international tender. EBRD is working with SCZONE since February 2023 to digitise investor services and re-engineer more than 60 services. These will be available during the second half of 2024.

29 February, 2024

Plans underway to build silos and bunkers in Iraq

Iraq is planning to build 4 new large silos and 17 underground bunkers to store grain and other cereals in various parts of the country. The General Company for Cereal Trade has obtained cabinet approval for the projects in Kirkuk in North Iraq and other Governorates. Construction of the silos will take one to two years each given their large storage capacity. Each bunker will store nearly 6,000 tonnes.

29 February, 2024

$129mln mixed-use project launched in Egypt

Egyptian developer Master Group announced the launch of a new mixed-use project in New Administrative Capital (NAC) at an investment of 4 billion Egyptian pounds ($129mln) investments. 'City Oval The Club' project spans an area of 30 acres in NAC's R8 area. The project comprises of duplexes, apartments, a commercial hub and leisure facilities.

29 February, 2024

Contract to be awarded soon for oil field building project in Kuwait

Kuwait Oil Company (KOC) is expected to award the engineering, procurement and construction (EPC) contract for its Office Building for Oil & Vital Protection Department and Perimeter Fence project in South Ratqa Field by the second quarter of 2024. The EPC tender was issued on 10 December 2023 with a bid submission deadline of 10 March 2024. The EPC contract is expected to be awarded by June 2024, with the overall project completion and commissioning scheduled for the first quarter of 2026.

29 February, 2024

Agreements signed to establish community retail centres in Abu Dhabi

Khalifa Economic Zones Abu DhabiKezad Group has announced two land lease agreements with Sam Force Trading, to create vibrant retail community centres. Under the agreements, Sam Force will construct and operate community retail centres on two prime locations in Kezad which will cater to the diverse needs of residents and businesses within the Kezad community. The centres in Khalifa Industrial Area (Kezad Al Ma’mourah) and ICAD (Kezad Musaffah) will encompass a diverse commercial and retail offering, including restaurants and cafes, supermarkets, and business centres, enriching the community's lifestyle and core amenity availability. The development of these retail centres is a testament to Kezad's role as a catalyst for economic growth and its dedication to meeting the evolving needs of its diverse community.

29 February, 2024

New business complex project launched in Egypt

Egypt's Treskon Development has announced the official launch of its new project, Katameya Business Complex, in New Cairo. The 3 billion Egyptian pounds ($97 million) project is situated on a 10,000 square metre plot and will comprise two basement levels, a ground floor, and three additional floors. The retail units will occupy 40 percent of the total area while office units will occupy the remaining 60 percent of the project with construction already underway.

29 February, 2024

$40bln deals signed to develop green energy projects in Egypt

Egypt has signed seven memorandums of understanding (MOUs)with international companies for the development of renewable energy and green hydrogen projects in the Suez Canal Economic Zone (SCZONE). The MOUs are expected to culminate in investments worth $12 billion for the pilot phases and $29 billion for the first phases, with total investments from all phases expected to exceed $40 billion in 10 years.

29 February, 2024

New premium mixed-use project unveiled in Oman

Al Faiha Development Company has announced the launch of its premium project, Smart Home, featuring residential apartments and offices in the Al Ghala Heights. Spread over a 13,000 sq m area on an area opposite Madinat Al Irfan, Smart Home comprises a mall, restaurants, a temperature-controlled swimming pool and a comprehensive health club, thus ensuring a comfortable and sustainable environment for residents. The project will boast nine floors and a penthouse in addition to parking facilities and a variety of residential units of different sizes.
These smart apartments are an integral part of the project concept, allowing residents to benefit from cutting-edge technologies to enhance their quality of life. These aim to provide a smart and sustainable living environment that promotes quality of life and offers a comfortable and secure lifestyle. The integrated residential experience will include entertainment, marketing and sports facilities to meet all family needs. It is a pioneering real estate endeavour that boasts comprehensive smart specifications in its residential units, including remote control features, alongside integration of artificial intelligence to provide essential services for families. Its smart amenities will include childcare services, a private cinema for residents, laundry facilities and taxi services. These smart residential apartments embody our aspirations to deliver a unique living experience. This combination of comfort and technology aims to create a sustainable and secure environment for all residents. When completed, the project will be an architectural icon, combining modern designs with authentic Omani architecture.
The project will have the finest integrated services, meeting the highest international standards and aligning with future technological advancements. Modern communication networks and diverse parking facilities, totalling over 800 spaces distributed underground and some in front of residential units, will be provided. The mall, offices and residential units will be interconnected to form an integrated environment and an attractive place for living, working and shopping under one roof.

28 February, 2024

Redevelopment work starts on copper mines project in Oman

Minerals Development Oman Company (MDO) has started the redevelopment work on the Lasil and Al Baydha copper mines in Block 4 of the wilayats of Sohar and Liwa. The production of copper ore from the Lasil mine is anticipated to begin 2024, while production from the Al Baydha mine is expected to commence in 2026. Once the project gets completed, these mines will boast a production capacity of 800,000 tonnes of copper ore per annum. The project's initial phase is expected to last four years based on the current reserves. The redevelopment of the Lasil and Al Baydha mines is its first copper mine project.
This was a result of the intensive exploration programmes carried out by MDO in 2022 which revealed the potential of commercial reserves of copper ore estimated at approximately 2.78 million tonnes in Block 4, part of Oman Mining Company geological assets. The project will encompass a series of phases, including the mobilisation and construction of the mines, open-pit mining operations, and then the commencement of processing and concentration operations. However, the company is progressing exploration campaign at the surrounding areas to hopefully secure new reserves and extend the production period. The project, strives to enrich local value addition and optimise value chains in collaboration and partnership with the private sector. MDO had signed up a national contractor for the project, while the processing contract has been awarded to Mawarid Mining for processing the copper ore in its concentrator located in the Wadi Al Jizzi, Sohar.

28 February, 2024

Construction work underway for service roads project in Oman

The Ministry of Transport, Communications and Information Technology announced the completion of 40 per cent of the service roads of Dibba-Khasab road in Musandam Governorate and the link road leading to the Niyabat of Lima at a length of 9 km out of 22 km on 27 February, 2024. The cost of the project exceeds RO 151 million.

28 February, 2024

Plans underway to develop logistics facilities in Dubai

Dubai South, an aviation, logistics and real estate master development, and the Abu Dhabi-listed Aldar Properties have entered a joint venture to develop Grade A assets in Dubai, including build-to-lease and build-to-suit facilities. The first project will be a Grade A build-to-lease logistics facility located in the Dubai South Logistics District, totalling 24,000 sqm of gross floor area (GFA). Aldar will be responsible for the design, development, and delivery of the assets. This first facility is expected to be completed and tenant ready by Q4 2024 and paves the way for further development for third-party logistics (3PL), ecommerce, and retail tenants. The projects being developed with Dubai South form part of Aldar's recently announced 1 billion UAE dirhams ($272 million) investment in logistics real estate.

28 February, 2024

Announcement of mixed-use development in Egypt

MARAKEZ has announced the expansion of its branch of The GrEEK Campus West at Mall of Arabia. The GrEEK Campus West is a dynamic hub for startups and corporates, launched in 2020 as a result of the successful collaboration between MARAKEZ and Sawari Ventures. The GrEEK Campus West covers an area of 12,000 sqm, divided into three zones that foster innovation and collaboration. The expansion will add another 3,000 sqm to the hub, which is expected to open in May 2024.
The GrEEK Campus West at Mall of Arabia provides a comprehensive 360-degree solution for all workspace needs, including furnishing, building management, housekeeping, maintenance, internet connection, and more. The hub also gives companies access to a wide range of amenities, such as 40+ restaurants and cafés, 200 local and international brands, a 34,000 sqm park, a registry office, a clinic, a nursery, a gym, and various ATMs and banks. This expansion reflects MARAKEZ's commitment to creating vibrant, integrated communities that enhance the way people live and work.

28 February, 2024

Announcement of partnership to development of feddan in Egypt

Madaar has announced a strategic partnership with Crystal Lagoons to develop a 45-feddan crystalline lagoon at the Azha North resort in Ras El Hekma at the North Coast. The resort, which covers an area of 250 feddan, will feature the swimmable lagoon as its main attraction, offering a variety of aquatic and sports activities for its residents. The lagoon in Azha North will be expanded to 19.5 hectares upon completion, allowing residents to enjoy water sports such as swimming, kayaking, and paddle boarding, with a stunning view of the Red Sea.

27 February, 2024

Residential development project work resumed in Iraq

A memorandum of understanding signed between the National Investment Commission (NIC) and South Korea's Hanwha to resume work on Bismayah City residential development.

27 February, 2024

Bids received for development and operation of electric vehicle charging project in Bahrain

Bahrain's Ministry of Electricity and Water Affairs (MEWA) has received 5 bids for its Request for Proposals tender on behalf of the Ministry of Information to develop and operate a solar power plus Electric Vehicle (EV) charging project. Bidders and the tariff rate quoted were as under:
- Yusuf Bin Ahmed Kanoo (BHD 0.022 or USD 0.058 / kWh accepted with condition)
- Alpha Energy Generations Co. (BHD 0.021 or USD 0.056 / kWh)
- Micro Centre (BHD 0.022 or USD 0.058/ kWh)
- Yellow Door Energy Projects Co. (BHD 0.022 or USD 0.061 / kWh)
- Siraj Power Contracting (BHD 0.025 or USD 0.066 / kWh, suspended)
The project comprises grid-tied solar photovoltaic (PV) power plants on building rooftops and car parks with a minimum capacity of 2.5 MWac (Megawatt AC) and EV charging stations at the Ministry of Information premises. The duration of the Build-Own-Operate-Maintain (BOOM) contract is 20 years. The tender was issued on 19 October 2023 with a bid opening date of 15 February 2024. Bidders must have successfully commissioned at least five grid-tied solar PV projects on a turnkey basis (out of which at least one is Solar PV carpark project, or successfully commissioned at least 2.5 MWac grid-tied solar PV projects on a turnkey basis in the last five years in any country or cumulative over all members in the case of a consortium.

27 February, 2024

Bid submission deadline extended for waste-to-energy project in Iraq

Iraq has extended the bid submission deadline for the construction of a waste-to-energy (WTE) Public-Private Partnership (PPP) project in the capital Baghdad to 31 March 2024. The previous deadline was 8 March 2024. The project, located in Nahrawan area, is being procured on Design, Build, Own, and Operate (DBOO) basis and is designed to handle nearly 3,000 tonnes of waste. The commission has specified a generation efficiency higher than 30 percent and a landfill rate less than 5 percent for this project.

27 February, 2024

Agreement signed to expand solar power plant in Egypt

El Gouna City, an integrated residential project being developed by Orascom Development Holding (ODH), has renewed its partnership with SolarizEgypt to expand an existing 7.2 megawatts (MW) capacity solar photovoltaic (PV) power plant, located in El Gouna City on the Red Sea coast. Under the agreement, SolarizEgypt will invest 200 million Egyptian pounds ($6.5 million) to build and operate the 7.2MW second phase, bringing the total capacity of both phases to 14 MW. The 7.2MW first phase, built at an investment of EGP97 million by SolarizEgypt, started operations in 2022 and meets nearly 16 percent of El Gouna City's energy demand. Phase 2 is scheduled to start operations in the fourth quarter of 2024, and combined production of both phases is expected to touch 32,000 MWh annually. The project paves the way for a new era of utilising green energy sources. It represents a live experience of private sector investment in alternative energy.

27 February, 2024

New luxury hotel featuring various amenities launched in UAE

Mercure, part of Accor, a world-leading hospitality group, has expanded its portfolio in the Middle East region with the opening of the Mercure Dubai Deira. Here  guests can experience the rich local heritage, tapestry of culture, and flavours of Dubai. Set in the heart of Deira, the hotel is conveniently located 15 minutes from Dubai International Airport. The property is located by the Gold Souk Metro station and Dubai Bus station allowing easy travel, while also being surrounded by the Deira Waterfront Market, Dubai Creek, the bustling Gold and Spice Souk and heritage museums. The hotel offers a variety of room types including classic, superior, privilege and family suites. As part of the hotel's local charm, guests are greeted with welcome postcards and children can take part in a heritage-inspired treasure hunt on arrival. The culinary journey at Mercure Dubai Deira features Farmstead that boasts a unique garden-to-table concept, with indoor and outdoor seating offering low-carbon footprint meals sourced just steps away from the kitchen. With an array of amenities available, the hotel offers rooftop infinity swimming pool, boasting views of the Deira heritage area and the modern Dubai skyline including the iconic Burj Khalifa, while families can find a dedicated kids' swimming pool. Conveniently situated near the Atmos Rooftop Lounge, guests can indulge in cocktails showcasing spices and botanicals that can be found in the Dubai spice souk, as well as bites, while basking in the sun. For fitness enthusiasts, the hotel offers a 24-hour fitness centre well-equipped for all essential exercise needs.

27 February, 2024

Construction and maintenance works contract to be awarded soon in Bahrain

Bahrain's Bilaj Al Jazayer Real Estate Development Company (BAJRD) is expected to award the main construction and maintenance contract works package for its Bilaj Al Jazayer Hotels and Residences project by the second quarter of 2024. The tender for the construction and maintenance contract was floated on 24 July 2023. The bid submission deadline was postponed to 8 October 2023 from 3 September 2023 and the tender was opened on 9 October 2023. The contract is expected to be awarded by early second quarter of 2024. The commercial bidders list comprised of Dadabhai Construction ($121.11 million), Poullaides Construction Company ($142.34 million), Almoayyed Contracting ($153 million), Cebarco Bahrain ($126 million), Nass Contracting Company ($137 million), Mohammed Jalal Contracting Co ($116.04 million), and Tamcon Contracting (TAMCON) ($158 million). The project's scope of work involves the construction of all building structures and all associated external works. The overall project completion and commissioning is scheduled for the fourth quarter of 2026.

27 February, 2024

Construction work resumed on residential city project in Iraq

Iraq and Hanwha signed a memorandum of understanding on February 26, 2024 allowing the South Korean company to resume work on Bismaya residential city project after a one-year freeze due to financial rifts. The National Investment Commission (NIC) inked the agreement with Hanwha to restart the $7 billion project in the capital Baghdad.

26 February, 2024

Construction work underway for hospital project in Oman

Work on the new RO138 million Sultan Qaboos Hospital in Salalah is nearly 60.5 percent complete. The project, spread over 100,000 square meters, consists of seven floors that can accommodate 700 hospital beds and 3,238 rooms, and will be provided with the latest medical devices, and other specialties. The main building of the hospital includes an accident and emergency unit, a medical imaging unit, a rehabilitation unit, and a chemotherapy unit, in addition to a dialysis unit, burns and orthodontics, day clinics, and care units for children - intensive care for adults - stroke care - intermediate care, operating rooms, delivery rooms, the private ward, the VIP ward, and the nuclear medicine unit. The new hospital will also have four surgical wards, four pediatric wards, four internal medicine wards, four obstetrics and gynecology wards, 16 beds in the intermediate and intensive care unit, 31 beds in the adult intensive care unit, 15 beds in the pediatric intensive care unit, and 38 beds in the neonatal and premature infants' intensive care unit. There are 12 beds in the burn unit, 32 beds in the daycare unit, and 32 beds in the dialysis unit. It will include an annex consisting of a lecture hall that can accommodate 250 people, a health education department, in additional to departments for equipment, medical devices, stores, pathology laboratories, and a central sterilization unit. It is worth noting that health services in Dhofar Governorate have witnessed growth at multiple levels and expansion of therapeutic services at the level of Sultan Qaboos Reference Hospital and primary health care institutions. The total number of health institutions in the governorate has reached 44 institutions, including 7 hospitals and 36 health centers.

26 February, 2024

Plans announced for new liquefied natural gas project in Qatar

Qatar's Minister of State for Energy Affairs disclosed the firm's plans to proceed with a new LNG expansion project, called the North Field West (NFW), to further raise the country's LNG production capacity by almost 85% from current production levels before the end of this decade. QatarEnergy has focused its efforts and attention on determining how far west the North Field's productive layers extend in order to evaluate the production potential from those areas. That extensive appraisal drilling and testing had confirmed the extension of productive layers of Qatar's giant North Field towards the west, allowing for the development of a new LNG production project in Ras Laffan. The presence of huge additional gas quantities at the field, estimated at 240 trillion cubic feet, which raises the Persian Gulf state’s gas reserves from 1,760 to more than 2,000 trillion cubic feet. This also pushes the condensate reserves from 70 to more than 80 billion barrels, in addition to large quantities of liquefied petroleum gas, ethane, and helium.
These are very important results of great dimensions that will take Qatar's gas industry to new horizons, as they will enable to begin developing a new LNG project from the North Field's western sector with a production capacity of about 16 mtpa. As such, the State of Qatar's total LNG production will reach about 142 mtpa when this new expansion is completed before the end of this decade. This represents an increase of almost 85% compared to current production levels. With the completion of this project, the State of Qatar's total hydrocarbon production will exceed 7.25 million barrels of oil equivalent per day.
Moreover, the Qatari heavyweight is expected to begin right away the basic engineering work necessary to ensure that the planned progress is achieved according to the approved schedule for this new project. QatarEnergy is continuing with the work to implement various elements of the North Field production expansion projects, including the North Field East (NFE) and the North Field South (NFS) projects.

26 February, 2024

3 new mega power plants to be built in Iraq

Germany's Siemens is offering to develop three mega power plants in Iraq with a generation capacity of 4,800 megawatts (MW) each to tackle chronic electricity supply shortages.

26 February, 2024

Plans underway to build new civilian airport in Iraq

Iraq is planning to build a new civilian airport in the Southeastern Maysan governorate within plans by the Transport Ministry to expand air and land transport services. The project has been presented to the cabinet to approve needed funds but added more studies are needed to determine its location and other details.

26 February, 2024

Two new specialized day surgery centers to be launched in Saudi Arabia

Burjeel Holdings PLC, a leading super-specialty healthcare provider announced, its intention to launch the Group's first two Specialized Day Surgery Centers in Riyadh by 2025. The centers will provide sophisticated minimally invasive comprehensive services constituting key specialties, including Oncology, Advanced Gynecology, Orthopedics and Neurology. The Group plans to introduce internationally affiliated centers to the Kingdom to ensure its customers gain access to the best services, including the most advanced robotics solutions for patient care. Burjeel's Specialized Day Surgery Centers will be wholly owned and operated by Burjeel Holdings. It will provide a specialized service offering in the Kingdom, a market with significant growth expectations and strong demand for tailored healthcare services.

26 February, 2024

$190.6mln contract awarded for road improvement project in Dubai

The Roads and Transport Authority (RTA) has awarded a contract worth AED700 million for Al Khail Road Improvement Project. This project features the construction of bridges spanning 3,300 metres, along with road improvement works covering 6,820 metres across seven locations along Al Khail Road, including Zabeel, Meydan, Al Quoz 1, Ghadeer Al Tair, and Jumeirah Village Circle. The project contributes to expanding the capacity of current intersections and bridges by approximately 19,600 vehicles per hour to streamline the traffic flow along Al Khail Road, eliminate traffic overlapping at flyovers crossing Al Khail Road, ensure a smooth traffic flow, and cut down travel times by 30 percent. The project aims to enhance seven locations along Al Khail Road, starting with Zabeel, particularly between Oud Metha Street and Financial Centre Street intersections. This includes constructing a three-lane bridge spanning 700 metres to accommodate about 4,800 vehicles per hour, linking traffic from Zabeel Palace Street and Oud Metha Road directly onto Al Khail Road in the direction of Abu Dhabi. Additionally, the project involves improvements of surface roads extending 850 metres to link the traffic inbound from Al Khail Road heading to Financial Centre Street in the direction of Sheikh Zayed Road. The second site is Meydan along Al Khail Road between Al Meydan Road and Ras Al Khor Road intersections. It covers the construction of a two-lane bridge extending 610 metres to accommodate 3,200 vehicles per hour, linking traffic from Al Meydan Road onto Al Khail Road in the direction of Deira. Works at this site also include improvements of surface roads extending 1,550 metres to connect the traffic coming from Al Khail Road heading to Ras Al Khor Road.
At the third site in Al Quoz 1 on Al Khail Road between the intersections of Al Meydan Road and Al Waha Street, the project entails the construction of a two-lane bridge stretching 650 metres, accommodating 3,200 vehicles per hour to link the traffic from Al Meydan Road onto Al Khail Road in the direction of Abu Dhabi. Furthermore, the project includes improvements to surface roads extending 2,170 metres to link the traffic from Al Khail Road to Al Waha Street and Latifa bint Hamdan Street. The fourth site is located in Ghadeer Al Tair along Al Khail Road between the intersections of Al Meydan Road and Latifa bint Hamdan Street. It includes the construction of a two-lane bridge extending 640 metres with a capacity to accommodate 3,200 vehicles per hour to link the traffic from Latifa Bint Hamdan Street onto Al Khail Road in the direction of Deira. Additionally, the project includes improvements on surface roads extending 1,350 metres to link the traffic coming from Al Khail Road heading to Al Meydan Road. The fifth site of the project is situated at the Jumeirah Village Circle along Al Khail Road between Hessa Street and Al Khamila Street. The construction works include a two-lane bridge spanning 700 metres capable of accommodating 3,200 vehicles per hour to link the traffic coming from Al Khail Road to Hessa Street. Additionally, the project involves upgrades to 900 metres of surface roads, enhancing traffic connectivity from the Jumeirah Village Circle to Al Khail Road in the direction of Deira. At the sixth site, the project entails surface widening works on Al Khail Road in Al Jaddaf, through the addition of a new lane to enhance traffic flow in the direction of Deira to increase the road's capacity by approximately 2,000 vehicles per hour. At the seventh site, the project involves constructing a surface widening of Al Khail Road at the entrance to Business Bay by adding an extra lane to ensure smoother flow to Business Bay area from Al Khail Road and step up the traffic safety of that sector of the road in the direction of Abu Dhabi.

26 February, 2024

SAR 60.6 million land lease contract signed for two sports clubs development in Saudi Arabia

Armah Sports Co. signed a land lease contract with Ahmed Al Dahash in Al Munsiyah district, in Riyadh, to establish and operate a men and women's sports club under its B-Fit brand. The rental value of the land is SAR 3.03 million with a total contract value of SAR 60.6 million. The company will rent the 6,200 square meter (sqm) land plot for 21.5 years, beginning on the date of signing the contract and including a year and a half grace period with no leasing value.

26 February, 2024

Two agreements worth SAR21 million signed for new hospital project in Saudi Arabia

Dallah Healthcare Co. and Fitaihi Holding Group announced that their associate, International Medical Center Co. (IMC), signed design and project management agreements with specialized consulting firms to establish a new integrated various specialties hospital at a total value of SAR 21 million. The new hospital will be built on land owned by the International Medical Center in North Obhur, Jeddah, spanning 20,800 square meters (sqm). The first agreement was signed with Dar Al-Handasah Co. for hospital design with an eight-month term, and the second with Midrar Development Management Co. Ltd. for project management with a 31-month term. The foundation stone for this new hospital will be laid after getting the necessary official approvals. Dallah owns 27.18% of IMC, while Fitaihi Group owns 19.25%. IMC owns the International Medical Center Hospital on Hail Street in Jeddah, which has a total area of 20,237 sqm and a capacity of 300 beds in various specialties.

26 February, 2024

Plans announced for creek restoration in Dubai

A new project will repair and rebuild the iconic Dubai Creek walls, which weathered various challenges for over 50 years. It will prevent potential flooding during harsh weather conditions and minimise disruptions to commercial traffic. The project by Dubai Municipality, which costs Dh112 million, is set to be implemented in two phases. The initial phase will restore a 2.1km stretch along the Deira side of Dubai Creek. The site will be divided into multiple sections, and each segment will be sequentially patterned to ensure uninterrupted docking traffic. The second phase will cover a 2.3km length on the Bur Dubai side. The project will also install 200 anchors along the creek to ensure safe navigation services and facilities. The project is set to improve security and safety measures for maritime traffic and commercial operations within Dubai Creek. The project's 14-month timeline includes the restoration of the 2.1 km Deira pier, which will involve replacing and repairing damaged sections of the concrete wall, reaching a depth of 8 meters and increasing its height to 3 meters. These improvements will ensure the safe docking of ships in the area. Dubai Creek is one of the most vital historic maritime channels in the Emirate, marking the initiation of Dubai's trade interactions with the world over a century ago.

26 February, 2024

Two new residential projects unveiled in Egypt

The Ark has unveiled its most significant and first launch to date in New Cairo, with an exceptional location centrally located within the vibrant Fifth Settlement area. This highly anticipated announcement encompasses two flagship projects: CLIFF and EDGE , both on The Ark land. That alongside a prime location, the projects feature a range of exceptional services and facilities, such as state-of-the-art security and safety devices surrounding all areas, advanced fire fighting equipment, and an underground car parking spanning up to 4 floors with easy access for individuals with special needs. Additionally, the project incorporates extensive use of solar energy, making it environmentally friendly and aligned with sustainable development strategies.
EDGE is one of the most prominent serviced residences as it stands out from others by achieving the highest level of luxury in its lavish residential units, fully automated by Vimar Italy, making it an ideal place to live in, as it is serviced by a world class hotel, first of its own in Egypt. The residential apartments vary between penthouses, duplexes, along with 1/2/3 bedroom apartments and studios of various sizes, each with dedicated private parking areas and private swimming pools, lounges, etc. within each building. Additionally, the establishment boasts state-of-the-art gymnasiums, comprehensive sports and health centers, and an array of versatile meeting rooms, providing ample space and facilities for various activities and gatherings. The ground floors consist of various commercial spaces and green areas surrounding all units and designated walking areas.
CLIFF, on the other hand, provides the best and most upscale working environment suitable for all business types. The project offers sophisticated workspaces that have been extensively studied and uniquely executed, including offices, bridge offices, and loft offices with private entrances creating all sorts of opportunities for businesses in a strong and well-designed product mix.

26 February, 2024

Agreement signed to build new recycling plant to be built in Iraq

A Romanian company will build a recycling plant in the Southern Iraqi oil hub of Basra under an agreement signed with the local government. Dana Electro Recycle signed the memorandum of understanding with Basra Municipality on February 25, 2024. The project includes waste recycling and power generation.

26 February, 2024

Offers received for development of land in Egypt

The Egyptian government has received several Gulf offers to develop the land of Ras Ghamila in the city of Sharm El-Sheikh. Among the bidders are a Qatari conglomerate affiliated with the Qatar Investment Authority (QIA) and a Saudi consortium affiliated with the Saudi Public Investment Fund (PIF). The submission of offers is still open for companies interested in development through partnership arrangements. The winning alliance will be announced within two months after evaluating the submitted offers. 
Ras Ghamila is a prime location in the city of Sharm El-Sheikh, South Sinai, directly overlooking the Red Sea. It is adjacent to Sharm El-Sheikh Airport, making it a unique tourist resort that can be marketed in international tourism markets. The area of Ras Ghamila covers 860,000 feddan and that large consultancy companies will be enlisted in collaboration with various relevant ministries, including the Ministry of Housing. The development plan includes the establishment of a 4-star hotel with a capacity of 844 rooms, as well as 1,288 hotel apartments. The concept of the project and the comprehensive urban development plan for Egypt 2052 identified the North Coast region as the first promising area capable of accommodating the largest population increase in Egypt, due to its very promising potential. It includes lands along the coast with climatic and geographical conditions suitable for accommodating the largest population and development.

26 February, 2024

$970mln commercial and residential project launched in Egypt

Egypt's Upwyde Developments has launched its 30 billion Egyptian pounds ($970 million) Jazebeya project, located in the 6th of October city. The 40-acre project comprises residential, and commercial portions. The first phase includes 835 units with delivery expected to start by 2027. Raef Fahmi Architects is the main consultant for the project.

23 February, 2024

1,000 MW solar plant will be built in Egypt

Norway’s Scatec ASA Company will build a 1,000 MW solar power plant in Egypt under an agreement it signed with Egyptalum. Scatec would construct the plant near its production facilities in the Eastern town of Nag Hammadi. The project would be set up in two phases, the first of which has a capacity of 500MW and would be completed within 18 months, adding that Phase 2 would be finished within 24 months. The project is intended to support its plan to cut power costs.

23 February, 2024

$76mln operations & maintenance contracts awarded for water projects in Saudi Arabia

Alkhorayef Water and Power Technologies Company has signed three operations and maintenance (O&M) contracts worth 285.33 million Saudi riyals ($76.09 million) with state-owned National Water Company. The first contract, worth SAR 102.19 million, covers the operation and maintenance of Makkah's environmental services networks for 60 months. The second contract, valued at SAR 112.60 million, entails operating and maintaining Dammam's water and wastewater network for 36 months. The third contract, worth SAR 70.54 million, will see the company operate and maintain water and sewage water networks for 36 months in the Taif region.

23 February, 2024

Contract award is expected for an overhead line project in Kuwait

Kuwait’s Ministry of Electricity & Water & Renewable Energy is expected to award engineering, procurement and construction (EPC) contract for the Supply and Installation of a 400kV overhead transmission line to Abdali Z station by the second quarter of 2024. The EPC contract tender was issued on 14 January 2024 with a bid submission deadline of 18 February 2024. The contract is expected to be awarded by early May 2024, with the overall project completion and commissioning scheduled for the third quarter of 2025. The project’s estimates cost at $70 million.

23 February, 2024

Agreement signed to establish biogas production unit in Egypt

Enppi signed a cooperation agreement with BioEnergy to establish a biogas production unit. The agreement includes coordination between the two companies in accordance with the social responsibility strategy and the third axis of environmental protection projects to support rural communities. It also includes providing biogas as a source of clean energy and high-quality organic fertilizer within rural communities.

23 February, 2024

$300mln agreement signed for integrated medical and educational project in Egypt

Egypt’s New Urban Communities Authority (NUCA) signed a land sales agreement with NHMC Medical Services (Egypt), for an integrated educational medical city and urban development project in Shorouk City. The entire project will be built on a 72-acre plot of land, with 65 percent dedicated to urban projects and 35 percent to the educational medical city. The total investment for the entire project amounts to $300 million.
The project will house the first English colleges of medicine, nursing, and physical therapy in the Middle East and Africa (MEA) region, in partnership with the University of Buckingham, and the first educational and private hospital affiliated with the University of Buckingham in the region. The project will include a hospital in collaboration with US pharma company Johnson & Johnson and top surgeons for specialised face, jaw and knee surgeries. It will include a dedicated medical area for elderly with 76 beds and a sports academy for people with special needs. Additional components include an international school, residential units including villas, apartments and hotel apartments; commercial units including malls, and office buildings for various medical specialties. The project is expected to create over 2,000 job opportunities.

23 February, 2024

Announcement of expansion of residential development project in Dubai

Emaar Properties has announced a significant expansion of The Oasis, its flagship residential development in Dubailand. The mega project will see a 108 percent increase in its land space, which will increase the development value to 73 billion UAE dirhams ($19.88 billion) from AED34 billion. The Oasis is growing not only in size but also in vision, enabling us to bring significant new projects to the market and further elevating our sales levels. With 25 percent of its land dedicated to recreational areas, The Oasis focuses on a resort-style living experience. The expanded green spaces, lakes, jogging tracks, and luxury amenities aim to encourage a community-focused, active, and healthy lifestyle.

23 February, 2024

Plans underway to launch luxury hotel in Saudi Arabia

Riyadh is set to welcome a new 280-key luxury hotel following an agreement signed by Saudi Real Estate Co., also known as Al Akaria. The deal with Marriott International will introduce the Autograph Collection brand to the Saudi capital, paving the way for the opening of the new hotel. Scheduled to commence construction in 2025, the hotel is anticipated to welcome visitors by 2028 upon its completion. The deal reflects Al Akaria's commitment to promoting tourism and hospitality in Riyadh, aligning with the goals of the Kingdom's Vision 2030 to create appealing destinations for residents and visitors. The new hotel will contribute to the development of a mixed-use destination, featuring commercial facilities, restaurants, and entertainment areas.

23 February, 2024

Contract award is expected for an aquaculture project in Abu Dhabi

Environment Agency Abu Dhabi (EAD) is expected to award the design, build and operate (DBO) contract for its sea-cage aquaculture project in Al Sila by the second quarter of 2024. The tender for the DBO contract was issued in January 2024 and the bid submission is scheduled on 26 February 2024. The contract is expected to be awarded by early April 2024.
The scope of work for the proposed project involves construction and operation of a finfish sea-cage aquaculture project in Al Sila as part of the Emirate's initiative to develop a sustainable aquaculture industry. The scope includes two main parts: project design and build services, and project management and operation services. The selected bidder is required to develop detailed designs for 24 sea cages capable of producing around 700 tonnes of fish annually, as well as land-based supporting facilities, including infrastructure and buildings. Additionally, the bidder must execute the construction phase of the project and fully operate and manage it, including tasks such as sourcing and purchasing fish juveniles and feeds, marketing harvested fish, providing training to government staff, and studying environmental effects on the project.
Deliverables include detailed designs, sea cages, land-based facilities, progress reports, and a final report with recommendations. The duration for Design and Build is expected to be completed within 18 months followed by Operations and Management for period of 24 months.

23 February, 2024

$116mln residential building project tendering process initiates in Dubai

Dubai-based property developer AMIS will kick off the tendering process in February, 2024 for 425 million UAE dirhams ($115.71 million) The Woodland Residences in Meydan, followed by the commencement of enabling works in April or May, 2024. This well-planned timeline ensures an efficient project execution, the project is anticipated to be delivered by mid-2026.

23 February, 2024

New $4billion joint venture launched in Bahrain

Eagle Hills International, an Abu Dhabi-based private real estate investment and development company, has signed a $4 billion joint venture agreement to establish Binaa Al Bahrain, a newly formed real estate development company. This development is poised to become a leading developer in the kingdom, boasting a portfolio of prominent real estate projects strategically situated across various governorates within Bahrain including the Capital, Muharraq, the Southern and Northern Governorates. The agreement, which brings together the private sectors of both the Kingdom of Bahrain and the UAE, will see Binaa Al Bahrain leverage its strong business relations to drive innovative and transformative real estate projects in the kingdom through a number of local partnerships with esteemed organisations including Edamah, the Bahrain Real Estate Investment Company, and Mumtalakat, the kingdom's sovereign wealth fund. In line with the Kingdom's Economic Vision 2030, Binaa Al Bahrain aims to contribute to the long-term development of the kingdom through its iconic projects. 

23 February, 2024

Bids invited for new oil sites in Iraq

OPEC producer Iraq intends to invite bids for new oil and gas concession areas in April within a post-war drive to develop its hydrocarbon resources. The Oil Ministry has started selling documents outlining concession details within its 6th licensing round and the remaining sites in the 5th round that was unveiled in 2023. Shell and Italy’s ENI are among global firms which have bought documents. The remaining part of the 5th licensing round as well as the 6th round will be launched at the end of April, 2024. The 5th licensing round comprises 8 exploratory wells and 8 producing wells while the 6th round includes 11 promising oil wells and 3 gas wells.

22 February, 2024

Agreement signed for 1 GW solar power station project in Egypt

Aluminium Company of Egypt - Egyptalum, affiliated to the holding company of metallurgical industries, has signed an agreement with the Norwegian company Scatec to establish a 1 GW solar power station to generate electricity for the industrial complex in Nagaa Hammadi. The station will be built in two phases, with a capacity of 500 MW for each phase. The first phase is expected to be completed within 18 months from the date of signing, and the second phase within 24 months. The solar station is planned to be located near the aluminum factory in Nagaa Hammadi. Scatec, a comprehensive developer of energy and green fuel projects, will be responsible for project development, financing, equipment installation, and study procedures.

22 February, 2024

$76 million operation & maintenance contracts signed in Saudi Arabia

Alkhorayef Water and Power Technologies Co., Saudi Arabia announced the signing of Operation and maintenance Contracts in Makkah, Taif and Dammam cities. The cobmined value of the contracts is SAR 285.3 million. The contracts was awarded by National Water Company, Saudi Arabia. In Makkah City, the works related to the Operation and maintenance of Environmental Services for a duration of 60 months. In Dammam City, the works related to the Operation and maintenance of Water and Wastewater for a duration of 36 months. In Taif City, the works related to the Operation and maintenance of water and sewage water networks for a duration of 36 months.

22 February, 2024

Agreement signed for the operation of new waterfront project in Bahrain

The Bahrain Tourism and Exhibitions Authority (BTEA) has officially signed an agreement with Edamah, the real estate arm of Bahrain Mumtalakat Holding Company, under which it will take over the management and operations of the Galali Coast Waterfront Project. Scheduled to commence in the second quarter of 2024, Galali Coast stands as the newest tourist attraction in the Muharraq Governorate from BTEA, spanning the road leading to Amwaj Islands and covering an expansive area of 100,000 sq m. The innovative development is set to feature a diverse array of services, restaurants, entertainment venues and engaging events. The inclusion of these elements aims to enhance Bahrain's position on the tourism map, solidifying its appeal as a sought-after destination.

22 February, 2024

New waterfront garden villas launched in UAE

Dubai real estate master developer Nakheel has announced the launch of exclusive Bay Villas, on Dubai Islands B, a part of the city's premier living, entertainment, leisure, and tourism waterfront destination, Dubai Islands. This new development comprises waterfront villas, semi detached residences and townhouses as well as garden villas, set within a lush, landscaped gated community, offering luxurious coastal living in close proximity to key locations across Dubai. Residents can enjoy beach access with a central park and landscaped corridors ensuring abundant scenery in every location. Swimming pools are served by community pool houses, with sports facilities, children's playgrounds, and a linear park leading to the waterfront for residents directly from their homes. Bay Villas offer a unique living experience that reflects the region's rich traditions. Each residence is carefully crafted to pay homage to Emirati culture, where contemporary design is infused with traditional elements, creating spaces where light enhances the natural, warm colours reminiscent of the desert landscape.

22 February, 2024

New research and development unit to be built in Saudi Arabia

Alat, an innovative company powered by Saudi wealth fund PIF, has announced a major collaboration with US-based Carrier, a global leader in intelligent climate and energy solutions, to develop a cutting-edge manufacturing and research and development (R&D) facility in the kingdom aimed at decarbonising emissions in buildings, and dramatically increasing their energy efficiency. The duo will deliver advanced heating, ventilation and air conditioning (HVAC) solutions which includes high-tech Heating Ventilation Air Conditioning Systems (HVAC) and products like VRF (Variable Refrigerant Flow), chillers, and Air Handling Units (AHUs). Through these tieups, Alat aims to deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon zero manufacturing.

21 February, 2024

Agreements signed to develop residential units in Saudi Arabia

National Housing Co. (NHC) signed six agreements with real estate developers at a total value of more than SAR 2 billion to develop and build over 3,800 residential units. The agreements were signed on the sidelines of the Restatex Riyadh Real Estate Exhibition, in partnership with real estate companies such as Ratal Urban Development Co., Faisal Abdullah Bin Saedan Real Estate Investment and Development Co., Mohammad Al-Habib Real Estate Co., Masaken Real Estate Co., Shugan Construction Co., and Ishraqat Al-Tamaiuz for Real Estate Development Co. NHC launched sales in three projects within Al-Assalah Community. The first project, Nesaj Al Asala, spans a total area of 93,000 square meters (sqm), providing 366 under-construction residential units of the villa type in partnership with Ratal. The second project, Malify Asalah, covers an area exceeding 45,000 sqm, offering 166 under-construction residential units of the villa type, in partnership with Faisal Abdullah Bin Saedan Real Estate. The third project, Ishraqat Al-Assalah, provides 89 villa-type residential units, spanning an area of over 28,000 sqm, in partnership with Ishraqat Al-Tamaiuz.

21 February, 2024

Plans underway to launch specialized day surgery centers in Saudi Arabia

Burjeel Holding PLC plans to launch two new specialized day surgery centers in Riyadh by 2025. The centers will provide sophisticated minimally invasive comprehensive services constituting key specialties, including oncology, advanced gynecology, orthopedics and neurology. The healthcare provider also plans to launch two international affiliated centers in the Kingdom. The two new centers are projected to generate annual revenue of at least SAR 150-200 million once fully ramped up.

21 February, 2024

94km ring road design preparation ongoing in Iraq

A foreign company has completed the designs for a 94-km ring road which will be constructed around the Iraqi capital Baghdad to ease traffic congestion. The 100-metre-wide road, on the cards for nearly two years, will connect all entrances of Baghdad and some of the motorways near the capital. Designs for this strategic project has been completed in coordination with an international company. The project will be launched after the designs are approved by the relevant authorities.

21 February, 2024

New top-class logistics park to be built in Saudi Arabia

Arcapita Group Holdings Limited, the global alternative asset manager based in Bahrd , has announced a strategic collaboration with Rikaz, a prominent large-scale real estate developer in Saudi Arabia, for the development of a top-class logistics park - The Node - in capital Riyadh, which is designed to meet the specifications of prominent international and regional tenants. The Node is a 3-million-sq-m development that is poised to become Riyadh's premier logistics hub. The first phase of the project will cover an area of approximately 400,000 sq m that will house 'grade A' warehousing facilities, developed as per global standards by Arcapita and Rikaz for a variety of commercial tenants. Strategically located in eastern Riyadh, the project will have easy access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, thereby serving as a strong node for tenants to service customers in Riyadh, across the kingdom.

21 February, 2024

Expression of Interest invited for highway project in Saudi Arabia

The Roads General Authority (RGA) in collaboration with the National Center for Privatization & PPP (NCP) and Aseer Development Authority, announced the launch of the Expression of Interest (EOI) phase for the Aseer - Jazan highway project. The tender aims to attract best in class road works companies to assure the project delivers the highest level of efficiency, service and traffic safety. The length of the highway is 136 km (3 lanes in each direction) and its spans from Al Farah area in Aseer region to the Red Sea through Jazan region. It consists of 6 intersections, 57 bridges with total lengths 18 km, 11 tunnels with total lengths 9.2 km. The contract type is DBFOM and duration of the contract is 30 years. Interested bidders need to submit the EOI by 19 March, 2024.

21 February, 2024

RO44mn new deals signed in Oman

Salalah Free Zone has signed five new investment agreements worth RO44mn with a local and international investor from Kuwait, Iraq, Jordan, and Hong Kong. The first agreement was signed with Naseem Salalah Trading and Manufacturing Industries Company, representing Iraqi investment, to establish a factory to produce paper tissues with an investment of RO38mn.
The zone signed second agreement with Kuwait Engineering Industries Company, which will establish a modern factory for manufacturing air conditioning devices bearing the brand name 'Moria' at an investment cost of RO4.56mn. The factory will have a production capacity of 90,000 air conditioning units annually.
The third agreement with Tawfiq Medical Supplies Company from Jordan includes the establishment of a specialised factory for the production and refilling of blood sugar test strips, with an investment amounting to RO760,000 and a production capacity of up to 100mn sugar test strips annually.
The fourth agreement was with an Omani firm, Wadi Hawjar Company, to establish a specialised factory for mixing and producing raw materials from frankincense derivatives with an investment amounting to RO247,000.
The fifth and last agreement was with Green Stream Solutions Company from Hong Kong, which plans to establish an import, repackaging, and export company for potash fertilizers in Salalah Free Zone with an investment of RO57,000.

20 February, 2024

SAR 26.3M contract inked to establish feed production plant in Saudi Arabia

Balady Poultry Trading Co. (Balady Poultry) signed a contract with China-based FAMSUN Group Co. Ltd. on 19 February, 2024 to establish a feed production plant, which will include three poultry feed production lines, at a total cost of $7 million or SAR 26.3 million. The contract term is 508 days. The new plant will have a capacity of 60 tons per hour, and will consist of corn storage silos in Khamis Mushait, at Wadi bin Hashbel City. The contract aims to enhance the company's self-sufficiency in terms of the production of poultry feed and reduce costs with the continuity of the supply of feed to the company's farms and ensure the quality of feed.

20 February, 2024

New housing units project launched in Egypt

Saudi Egyptian Developers has launched for sales process for the second phase of the 'Arabesque' project near the Museum of Civilization. The second phase will offer 340 housing units of various sizes distributed within 13 buildings. New Urban Communities Authority (NUCA) has contracted marketing, selling and customer service for its Arabesque project to Saudi Egyptian Developers. The project is the first integrated gated urban community in the Majar al-Oyoun area in the heart of Old Cairo, one of the most important and beautiful tourist and historical areas in Cairo. The buildings have distinct facades designed in the classical 'arabesque' style with modern touches. The Arabesque project comprises of 79 buildings containing 1,924 residential units of different sizes, in addition to commercial units, and includes restaurants, cafes, cinema, theatre, and a commercial mall.

20 February, 2024

Plans underway to launch vertical forest project in Egypt

Egypt's Misr Italia Properties is planning to deliver 3,000 units in El Bosco New Capital, located in the New Administrative Capital, 2024. Plans underway to launch the Vertical Forest project in El Bosco New Capital, which comprises of three buildings with one building housing serviced apartments. The project's commercial zone, spread over an area of 67,000 square metres (sqm) will be launched in the coming months. 5.5 billion Egyptian pounds have invested ($179 million) in the project to date. Misr Italia Properties have signed with Telecom Egypt (WE) to provide communications, surveillance and artificial intelligence services for the project.

20 February, 2024

JV formed to establish power transformers manufacturing company in Saudi Arabia

Oman-based Voltamp Energy Company, has signed a joint venture (JV) agreement with Saudi-based Al Sharif Holding Group to establish a new company for manufacturing high-voltage power transformers in Saudi Arabia. Voltamp Energy's new JV plant in Saudi Arabia will be established with an investment of RO9.5mn and will manufacture high-voltage 132kV class power transformers.
The construction work for the transformer manufacturing facility began immediately after signing the joint venture agreement. Production is expected to begin at the beginning of 2026. Any developments or other information about this project will be disclosed in the future.

20 February, 2024

New automotive aluminium component plant to be launched in UAE

Khalifa Economic Zones Abu Dhabi (Kezad Group), one of the largest operators of integrated and purpose-built economic zones, has signed a lease agreement with Automotive Precision Technology (APT), a subsidiary of UAE-based Al Ghurair Group, for an automotive aluminium component manufacturing facility. APT will be setting up its advanced manufacturing facility on a 30,000-sq-m area within Kezad that is strategically located adjacent to Emirates Global Aluminium. It will be operational by early next year.

20 February, 2024

New headquarter opening announced in UAE

Mered, an international real estate developer, has announced the opening of its new HQ in the heart of Dubai Internet City. It boasts a design concept by Pininfarina that blends the natural world with the sophistication of the Italian architecture and craftsmanship. The office showcases how the brand is set to redefine the essence of real estate development in the most captivating way. The sales area radiates sophistication and elegance in every detail. From the sculptural counter to the use of natural and artificial lighting that gracefully guides visitors through the space, each feature is meticulously chosen. The lobby, divided by stylish bronze glass partitions, creates a seamless connection with the behind-the-scenes sales area. Pininfarina's influence is evident in every facet of its office, with each element reflecting its values of purity, elegance, and innovation.

19 February, 2024

$1.3bln an ambitious mixed-use project will be built in Oman

The ambitious Al Khuwair Downtown and Waterfront Development Project, boasting a hefty $1.3 billion investment, is set to redefine urban living in Oman's capital. Spanning an impressive 3.6 million square metres, surpassing the area of Muscat International Airport, this initiative promises a vibrant new hub of Muscat Governorate. Crucial agreements are already in place, paving the way for the project's operational plan and the launch of construction work to commence before the end of 2024. Embracing cutting-edge technology, developers will be seamlessly integrating modern planning tools with the unique landscape of Al Khuwair site.
The renowned Zaha Hadid Architects, carrying on the legacy of the late visionary Iraqi architect, has been entrusted with designing a key 38,000-square-metre section of the project. Zaha Hadid Architects is partnering with well-known real estate services and investment firm CBRE in the project design. Expanding its reach further, the Ministry has partnered with Al Tawoos Company for the development of a mixed-use tower. While initial impressions might suggest towering structures, the Ministry has clarified that Al Khuwair Downtown will feature a cluster of buildings, each standing tall at approximately 35 to 40 floors. The 12-month design phase prioritises creating a distinctive waterfront landmark, with the strategic location within the flight path securing approval for structures up to 150 metres (50 floors) from the Civil Aviation Authority. A budget of around $8 million has also been allocated to support the brand identity and marketing of this new urban landmark.
Significantly, Al Khuwair Downtown and Waterfront Development Project is one of the bigger investment prizes in a portfolio of urban initiatives unveiled by the Ministry in recent months for investments and development partnerships. Investment and partnership opportunities encompass the sizable portfolio of urban development projects unveiled by the Ministry recently. The flagship Sultan Haitham City and other envisioned Future Cities across the country stand out. These developments offer a clean slate for urban development. Further contracting and partnership opportunities will arise when the Ministry releases tenders for basic services and other contracts during the Phase 1 development of major urban projects. The Greater Muscat Structural Plan also holds promise for shaping the capital city's expansion and growth. Al Jabal Al Akhdhar initiative presents opportunities for investment in a sustainable and eco-friendly development amidst nature. The Ministry's Sorouh Programme for Integrated Housing Scheme also offers investment potential. Eleven such integrated neighbourhoods are planned nationwide, with four currently open for investment through the Tatweer platform.

19 February, 2024

Plans underway to convert an airport to museum in Oman

The old Muscat airport terminal building will be redeveloped as a multi-purpose facility, with plans to convert it into an aviation museum that will showcase the history of aviation of the country. Only competition can bring down the ticket prices on the domestic, which was also echoed by the Minister of Transport, Communications and Information Technology (MoTCIT). The new National Aviation Strategy will reflect the paradigm shift in the function and the role of the CAA in the coming years.

19 February, 2024

$3mln recycling plant will be established at Oman

Sohar Port and Freezone has signed a land lease agreement with Starsun Sohar to establish a $3 million recycling plant for lead-acid batteries with the freezone. The recycling plant, covering an area of 7,000 sq m, will focus on recovering valuable materials from locally used batteries, with a projected production capacity of 1,000 tonnes per month. The facility will also export lead ingots, lead oxide, and red lead oxide to key markets, including India, China, Korea, and several European countries. These products will be traded on the London Metal Exchange, bolstering global trade capacities.

19 February, 2024

Cornerstone laid for new logistics centre in Saudi Arabia

National Shipping Company of Saudi Arabia (Bahri) has laid the cornerstone for a new logistics centre at Jeddah Islamic Port. This state-of-the-art facility, which will cover a total area of 95,436 sq m, will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas, handling services, and other value-added services, with the aim of enhancing logistics capabilities and supply chain in the Kingdom of Saudi Arabia, enabling multinational companies to establish their logistics hubs in the Center. The new Jeddah logistics facility will be equipped to store reefer, insulated, and dry containers. It will also provide a wide range of services to its customers, such as container maintenance, repair, and cleaning, bonded storage, and haulage. The facility is expected to be operational in the first half of 2025.

19 February, 2024

Memorandum signed for a key sustainable project in UAE

Besix, a pioneer in sustainable waste solutions and a key player in the region's energy transition, has announced that it has signed a MoU with Dubai Municipality, Emirates National Oil Company (Enoc) and Japanese group Marubeni for a key project that will eliminate landfilling as part of its plans to achieve 'UAE Net Zero' by 2050. Besix combines its construction expertise with the integration of waste management technologies, facilitating the synthesis of diverse contributions towards SAF conversion. Dubai Municipality anchors the initiative, providing indispensable resources including municipal solid waste (MSW), energy for SAF conversion, and land for facility development, demonstrating their commitment to sustainability and a shared vision for a better world.

16 February, 2024

Plans underway to built a car manufacturing facility in Egypt

Egypt plans to build an electric and diesel car manufacturing factory with a production capacity of up to 6,000 vehicles in collaboration with Hinduja Group. The move will help bolster the North African country’s economy and create job opportunities for Egyptians. The facility will be established in collaboration with Egypt’s state-owned El-Nasr Automotive Manufacturing Co.

16 February, 2024

100 water and sewage projects to be launched in Iraq

Iraq intends to carry out nearly 100 projects covering water and sewage networks as part of a post-war drive to rehabilitate its infrastructure. These projects to be launched in 2024.

16 February, 2024

International industry city planned to be built in Iraq

Iraq has moved a step closer to the construction of an international industry city in the Southern oil hub of Basra with the aim of attracting industrial capital. A government committee, grouping officials from several government offices, will work to accomplish plans to build this industry city.

15 February, 2024

Foundation stone laid for market and trading platform in Dubai

The foundation stone for Bharat Mart, a market and trading platform for Indian businesses was laid in Dubai, during a ceremony held at the World Governments Summit 2024. Plans for the marketplace were unveiled by DP World. Expected to open in 2026, Bharat Mart will offer a world-class trading platform for Indian manufacturers and exporters to access global markets. Envisaged over a 2.7 million sq ft area, Bharat Mart is poised to become a mega distribution hub for Indian businesses to trade domestically in the UAE and re-export to regional and global markets. The Phase One of the project encompasses 1.3 million sq ft area. Bharat Mart is projected to house 1,500 showrooms catering to retail and wholesale customers, and over 700,000 sq ft of Grade A warehousing space, providing tenants with combined free zone and onshore benefits. The facility will also offer light industrial units, office spaces and meeting facilities. Bharat Mart will be conveniently located 11 km from Jebel Ali Port, the largest seaport in the Middle East, and 15 km from Al Maktoum International Airport, providing seamless multimodal logistics solutions for Indian exporters. Through the Jebel Ali ecosystem, traders will have direct connectivity to more than 150 maritime destinations and air links to over 300 cities. With it's world-class infrastructure, logistics capabilities and business-friendly ecosystem in Jebel Ali Free Zone (Jafza), Bharat Mart will be the ideal gateway for Indian goods to efficiently reach the UAE and other high-growth markets in the Middle East, Europe and Africa. The market will be situated in the Jebel Ali Free Zone (Jafza) and will be part of a wider trade ecosystem that DP World is developing through the Dubai Traders Market, a hybrid retail and wholesale marketplace that will host traders from around the world.

15 February, 2024

Deal signed for 1GW solar power plant project in Iraq

Iraq's Ministry of Electricity announced the imminent signing of a contract with Saudi Arabia's ACWA Power to build and operate a 1000-megawatt (MW) solar power plant in Najaf. The deal has been finalized after being delayed for three years. Both sides agreed to expedite technical and legal discussions to finalise the contract, while ensuring it addresses the project timeline, pricing, and rights of both parties.

14 February, 2024

First green hydrogen plant in Iraq to be built

Iraq is planning to build its first green hydrogen plant with a production capacity of 800 tonnes per year as part of a post-war strategy to gradually switch to renewable energy. The project will be set up in South Iraq and it also includes a 130-megawatts (MW) solar power plant.

15 February, 2024

AED5 billion lithium processing plant will be built in Abu Dhabi

Khalifa Economic Zones Abu Dhabi (KEZAD Group) and UAE-based Titan Lithium have announced the signing of a 50-year land lease agreement for the establishment of a state-of-the-art lithium processing plant in Khalifa Industrial Area (KEZAD Al Ma’mourah). To be developed in three stages with AED 5 billion in investment by Titan Lithium, the plant will produce battery-grade lithium carbonate and lithium hydroxide for battery makers and electric vehicle OEMs around the world. Spanning over 290,000 square metres, the plant represents a critical turning point in the UAE's development as a key force in the worldwide lithium processing market.
It also reinforces AD Ports Group strategy to be involved across the entire supply chain in the automotive industry with end-to-end logistics solutions, from the factory to the end customer. Once established, the plant will be importing approximately 150,000 tonnes of Lithium annually from its mines in Zimbabwe for processing through the adjacent Khalifa Port. This is a clear illustration of AD Ports Group symbiotic ecosystem built in Abu Dhabi, whereby the whole ecosystem benefits through revenue synergies from a significant development for one of the five vertically integrated clusters. The project is poised to create a number of job opportunities, stimulate the local economy, and place Abu Dhabi at the forefront of the lithium processing industry. As the world transitions to renewable energy sources, the role of lithium as a key component in this shift becomes increasingly vital. The proposed plant will use state-of-the-art technologies and the best sustainable practices in its operations, ensuring the highest level of environmental responsibility while driving forward the global electric vehicle revolution. Availability of processed Lithium is crucial for the manufacturing of battery packs used in electric vehicles, a rapidly growing sector in the global push for sustainable energy solutions.

15 February, 2024

$109 million contract awarded for overhead transmission line project in Oman

Oman National Engineering & Investment Company SAOG (ONEIC) has awarded two projects, for the eastablishing of 132/33KV Electricity Transmission lines associated with 132kV transmission lines in Dhofar Governaorate. The Project was awarded by Oman Electricity Transmission Company SAOC, (Member of Nama Group). The value of the contracts is OMR 41,963,337. The duration of the contract is 18 months.

15 February, 2024

Announcement of a tender for a metro project in Iraq

Iraq's National Investment Commission (NIC) has announced a tender for the construction of a metro transport system in Baghdad. The project is being offered on a design, build, operate, maintain, finance, and transfer ownership (DBOMFT) model, and the deadline for receiving Investment bids is Thursday, 11th April, 2024. According to the tender document:
Baghdad Metro is a group of lines (routes) using advanced trains that operate automatically and operate without a driver. The metro routes pass through stations above, below and on the ground with two tracks back and forth.
The Baghdad Metro Project includes seven (7) main lines (routes) with a total length of (150) km, one-hundred fifty kilometer, (64) sixty-four metro stations, four (4) workshops and depots for trains, (2) two metro train control and management centers and power generation stations.
The train carriages consist of a gold class cabin, a special cabin for women and children, and tourist cabins. The carriage design also contains seats that meet the needs of the elderly and people with special needs.

12 February, 2024

$13million contracts awarded for new residential project in Egypt

Egypt's REKAZ Development has awarded two contracts worth 400 million Egyptian pounds ($13 million) to Atom Construction and AROMA Landscaping to complete construction and landscaping works for the first and second phases of its Lazuli project in Hurghada City on the Red Sea coast. Spread over an area of 40,000 square metres, Lazuli includes apartments and townhouses as well as clubs, a business centre, a paddle court, a swimming pool, a 35-mettre boardwalk and a lagoon. The project has been designed by DARA Architects, a subsidiary of REKAZ Development.

13 February, 2024

Electricity interconnection project to be implemented in Saudi Arabia

Greece's Independent Power Transmission Operator (IPTO) and Saudi Arabia's National Grid SA have signed an agreement to study the implementation of the Greece-Saudi Arabia electricity interconnection project. The two sides agreed to establish a special purpose company 'Saudi Greek Interconnection' for conducting the feasibility study. This project will enable the more effective use of renewable energy, access to sustainable electricity generation and improved security of electricity supplies.

12 February, 2024

New branded residences to be launched in Dubai

Rove, a leading lifestyle hotel and residence brand, has partnered with leading homegrown real estate platform IRTH to develop two new properties in Dubai, including the upcoming Rove Home Marasi Drive at Business Bay. A joint venture between leading Dubai developers Emaar Properties and Meraas Holding, Rove is boosting its presence in the UAE residential market and now aims to launch 3,000 branded residences in the next five years. It is being designed to be a peaceful and green oasis with various amenities for residents to enjoy. Spread across three distinct zones at different heights, it will feature a mix of fully furnished studios, one- and two-bedroom apartments along with other key amenities including a floating podium level, indoor and outdoor swimming pools as well as co-working spaces and a range of recreational and fitness facilities. Every building has its own ecosystem and community, offering a range of amenities for residents to be entertained from dusk to dawn, including co-working spaces, arcades, Rove Cafés, convenience stores, and sports facilities.

12 February, 2024

110 projects to be launched in between 2024 and 2026 in Saudi Arabia

Saudi Aramco is planning to carry out 110 projects during 2024-2026 as it is pushing ahead with capacity expansions and other development plans. The projects include 67 in oil, gas and petrochemicals, 20 in pipelines and 23 infrastructure projects.

12 February, 2024

$81million commercial development project launched in Egypt

Egyptian developer ASALDI Properties announced its debut project with the 2.5 billion Egyptian pounds ($81 million) - Shades commercial project in East Cairo. The four-storey Shades will have a built-up area of 48,000 square metres with a total leasable area exceeding 18,000 sqm. The project will offer offices, clinics, restaurants, shops, recreational areas, and a parking garage for more than 400 cars. The completion of this development is anticipated by the end of 2025.

12 February, 2024

Bids to be opened for metro project in Iraq

Iraq has decided to open bidding for the much-delayed project to build its first elevated metro in the capital Baghdad on February 12th, 2024.

12 February, 2024

New boutique compound launched in Iraq

Egyptian developer Memaar Al Ashraaf has announced a new residential and commercial boutique compound on a 10-acre plot in New Cairo. Yasser Beltagy Architect (YBA) has been awarded the design contract. The company plans to deliver the compound three years after the official launch date.

12 February, 2024

90km express railway line project planned in Iraq

Iraq is planning to announce a 90-kilometre express railway project connecting the holy cities of Karbala - Najaf soon. The Najaf-Karbala express train project comprises four main stations starting from Najaf Airport, passing through Karbala Airport, and ending at Baghdad Bus Station in Karbala city. The project will reduce the travel time between the two cities to 20 minutes and transport up to 25,000 passengers per hour. The trains will run on elevated bridges at speeds of 240 km/hour. Consultancy contracts have been signed for the project.

7 February, 2024

Contract to be awarded soon for first waste-to-energy project in Iraq

Iraq will soon award a contract for its first waste-to-energy project in the capital Baghdad after several global companies submitted bids. The project will use nearly 3,000 tonnes of waste to generate electricity and sell it to the government, which has been locked in a drive to tackle a persistent power supply gap. The project will be awarded in the next few days, adding that similar projects are in the pipeline to utilise waste in the capital, estimated at 12,000 tonnes per day.

8 February, 2024

Plans underway to construct biodegradable polymer facility in Abu Dhabi

Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of integrated and purpose-built economic zones, has welcomed Gulf Biopolymers Industries Ltd. (GBI) to the KEZAD ecosystem. The GBI facility will be the first unique producer of biomass-based, recyclable and biodegradable polymer in the Middle East. GBI's commitment to sustainability and innovative technology in manufacturing Poly Lactic Acid (PLA) and its additional upstream products resonate with KEZAD's vision of promoting eco-friendly and technologically advanced business environments. GBI's state-of-the-art facility across 135,000 sqm in KEZAD, with a capacity of 30,000 million tonnes per annum is dedicated to producing PLA, a fully biodegradable material derived from renewable resources. GBI's venture is a leap towards meeting the global demand for sustainable products and driving further research and development in biodegradable polymers.

9 February, 2024

Contract awarded for new steel plant project in Iraq

Iraqi company Muhaj Baghdad has awarded Italy's Danieli the contract to build a new rolling mill plant for rebar production. The plant will be located in the industrial area of Al-Hilla near Baghdad and will have a capacity of 500,000 tons per year. The plant will utilize Danieli's special high-speed rolling technology to produce quality rebar in diameters ranging from 10 to 40 mm. It will feature a combination of 12 horizontal-vertical housingless stands and a six-pass, fast-finishing block for efficient production. Danieli will supply equipment, Danieli Automation L1 automation systems, and provide advisory services for installation, plant startup, and training. The mill layout has been designed to accommodate a future wirerod line, indicating potential for expansion beyond rebar production. The new high-speed mill is expected to commence operations in late Q3 2025.

9 February, 2024

Plans unveiled to establish new substations in Kuwait

The Ministry of Electricity, Water and Renewable Energy, there is a plan to establish and operate 14 secondary transfer stations in Khaitan Residential Project in 2024. A total of 22 stations were installed during 2023. The last date for establishing the stations in the area is December 24, 2024. The secondary substations will be responsible for transferring electricity from the main substations to the residential plots in the area. The main substations in the area have been established. 
Coordination is underway to complete all electricity and water facilities in the area including the supply and extension of ground cables to connect the main substations in the area to the electrical network through a tender to supply and extend ground cables in various areas (the ninth stage). The keenness of the ministry to finish establishing all electricity and water facilities in the area, the ministry will receive requests for power connection from the people of the area as soon as the electrical infrastructure in each residential plot is completed.

9 February, 2024

New 380kV substation project contract awarded in Saudi Arabia

Larsen & Toubro (L&T), the Power Transmission & Distribution (PT&D) business has won multiple orders in the Middle East. In Saudi Arabia, an order has been received for turnkey construction of a 380kV Substation. The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait and Saudi Arabia. In an ongoing 220kV Power Supply Project in the UAE, an additional order has been secured.

9 February, 2024

New Residential Building has launched in Egypt

IL Cazar Developments has launched its latest project, THE CREST, in New Cairo, with a total investment of about EGP 60bn. The project is part of the company's expansion plan to launch several diverse projects in 2024 and 2025. THE CREST is a residential project that covers an area of 158 feddan. It offers various residential units, such as apartments, villas, quadros, and townhouses, with different sizes and views. The project has 3,000 residential units, with spaces ranging from 85 sqm for apartments to 400 sqm for villas. The project construction is planned to start in the summer of 2024, and the delivery is expected to begin by the end of 2027. The project provides various services with a total area of about 35,000 sqm, and has a built-up area of only 17%. The rest of the project area is dedicated to services and green spaces.

8 February, 2024

$226.6 million land rig contracts awarded in Saudi Arabia

Arabian Drilling Company, Saudi Arabia, announces multiple contracts awards from Aramco for three additional Land Rigs. The contracts' firm terms durations are five years with estimated aggregate contracts value up to eight hundred and fifty (850) Million Saudi Riyals. These 3 contract awards are for additional land rigs assigned to Aramco's Unconventional Program. The three land rigs are to be added to the Company's current land rig fleet of 48 units, representing a land rig fleet increase of 6.25%.

7 February, 2024

$55mln agreement inked for greening project in Kuwait

A Kuwaiti company has won a greening project in the Gulf state with a value of around 16.7 million Kuwaiti dinars ($55 million). The five-year contract, awarded by the Agriculture and Fisheries, covers 'development and maintenance' of planted areas and irrigation systems in Khiran City in South Kuwait.

7 February, 2024

Agreement inked to establish natural gas distribution network in Egypt

Somabay, a Red Sea resort, and TAQA Gas, a subsidiary of energy leader TAQA Arabia, signed an agreement to establish a natural gas distribution network, marking a significant step towards sustainable tourism in Egypt. This partnership aligns with the government's goals of reducing carbon emissions and fossil fuel reliance in tourist zones. The agreement was signed between Abu Soma Touristic Development and TAQA Gas.

7 February, 2024

Bidders invited for 100MW solar power project in Bahrain

The Electricity and Water Authority (EWA), Bahrain intends to implement a project to establish Solar Power Stations at Al Dur area in the Southern Governorate of the Kingdom of Bahrain. The establishment of this project is in line with the National Goals of diversifying and sustaining energy resources for achieving the goals of the energy transformation plan in Bahrain. The expected production capacity of the project is between 90 and 100 megawatts. The tender for construction works of the Project will be implemented on Turnkey basis which includes Engineering, Design, Manufacturing, Supply of materials, Installation, Testing & commissioning and Civil & Electromechanical works as well as the connection of the stations to EWAs Electricity Transmission network. The project implementation period is 18 months from the date of Award of the tender. Bid Submission date is 03 April 2024.

8 February, 2024

Contracts awarded for major power projects in Saudi Arabia

Larsen & Toubro (L&T) has announced that one of its key subsidiaries - Power Transmission & Distribution (PT&D) - has secured large multiple orders - valued in the range of Rs25 billion to Rs50 billion ($301 million to $602 million) - from its prime GCC markets. Its biggest order in the region came from the Kingdom of Saudi Arabia for the turnkey construction of a 380kV substation. The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait as well in the kingdom. In an ongoing 220kV power supply project in the UAE, an additional order has been secured.
The first was an order from the UAE for providing engineering, procurement, construction, installation (EPCI), testing and commissioning services for a 400/132kV substation, while the second one was from Kuwait for an order to establish 400kV overhead transmission lines along with associated 400kV underground cable interconnections. L&T also also bagged another major order from Saudi Arabia to provide turnkey EPC services for setting up renewable energy, power utilities and water systems for Saudi Arabia's ultra-luxury tourism destination, Amaala, in the Red Sea region.

8 February, 2024

49 contracts worth AED 22 billion awarded in UAE

Aldar Properties has announced the awarding of 49 contracts, totalling AED 22 billion, for a series of projects, including infrastructure, residential, commercial, and mixed-use developments across Abu Dhabi. The contracts were awarded to 36 UAE based companies with almost 50% of the value – AED 10.5 billion – being recirculated to the local economy, in line with the National In-Country Value (ICV) programme, which was launched by the UAE government as part of the Projects of the 50. The ICV programme is crucial to economic and social development, job creation, and the growth of the national GDP. The awarded contracts will result in the delivery of villas, townhouses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi's key growth locations, including Yas Island, Saadiyat Island, and Al Shamkha. 53% of the contracts were awarded for Aldar owned projects, while the remaining 47% are projects being delivered on behalf of the Abu Dhabi government.

6 February, 2024

250k new hotel rooms planned to be built in Saudi Arabia

Saudi Arabia plans to add 250,000 hotel rooms by 2030, with the private sector signing contracts to build 75,000 of them. The target for 2030 is approximately 550,000 hotel rooms. And approximately 12 resorts on the Red Sea will open within a year and a half.

6 February, 2024

Contract awarded for two water treatment plant development in Saudi Arabia

Alkhorayef Water and Power Technologies Co., Saudi Arabia announces the awarding of Contract for Operating and maintaining of first water treatment plant in Buraidah and Operating and maintaining of fourth water treatment plant in Riyadh Al-Khubara, awarded by Saline Water Conversion Corporation (SWCC). The value of the contract is SAR 82 million. As part of the contract, the company will perform the works related to Operating and maintaining of these two plants for 24 months.

6 February, 2024

Construction work underway for botanic garden in Oman

Construction work progress was reviewed at the Oman Botanic Garden on February 4, 2023. The project site was visited to monitor progress of work and discuss construction and appreciate efforts made by the project team. It will showcase all the native plant species of Oman in carefully created natural habitats, from bone-dry deserts to lush green monsoon forests. The garden will also feature traditionally cultivated crops and the many ways people use plants in Oman. Located at the foothills of the Al Hajar mountains in Al Khoud, the site is one of only a handful of locations in the world where the ancient seabed is visible sitting 100m above sea level. 1,407 species of indigenous flora have been grown in environments simulating their natural habitat. The team has conducted about a thousand field trips since the beginning of the project. It is the first of its kind in the region; no other botanical garden represents the entire flora of one country in habitat settings, presenting an unprecedented opportunity for visitors to experience the natural vegetation of Oman while learning about agricultural heritage, cultural traditions and the legendary hospitality of the country. The project will include cable cars, nurseries, a visitor centre, research centre, field study centre, habitat gardens, habitat pavilions, amenity areas, play areas and family zones in garden settings that are unique to Oman.

6 February, 2024

Agreement signed to establish industrial complex in Abu Dhabi

The Abu Dhabi Department of Economic Development (ADDED) and HYCAP Group, the net zero asset management company, have signed an agreement to develop the production, storage, and transport of green hydrogen, spearheading the transition to net zero in line with the UAE's Net Zero 2050 Strategy and National Hydrogen Strategy. The Memorandum of Understanding between HYCAP Middle East and ADDED will also see the two organisations join forces to assess establishing an industrial complex in Abu Dhabi with the involvement of local partners. The complex will specialise in industries related to hydrogen and the advancement of renewable energy sources, aiming to attract and establish more industrial companies and bolster the value chains within this sector. The complex will contribute to the development of Abu Dhabi's sustainable industrial sector and the goals of the Abu Dhabi Industrial Strategy (ADIS), which seeks to develop value chains for targeted sectors. It will also consolidate Abu Dhabi's position as the region’s most competitive industrial hub.

5 February, 2024

Agreements signed for new residential city in Iraq

The signing ceremony for the new Ali Al-Wardi Residential City project took place in Iraq. This project is the largest of five new residential city projects prioritized by the government. The aim is to reduce population pressure on Baghdad and tackle the challenges posed by the housing crisis.
Key statistics:
Project: Ali Al-Wardi Residential City
Location: Approximately 25 km southeast of Baghdad
Proximity to Airport: 74 km from Baghdad Airport
Total Land Area: 61 million square meters
Residential Units: More than 100,000
Green Areas and Parks: 5 million square meters
As the largest residential city in Baghdad, the project aims to create a smart and environmentally friendly residential community that effectively integrates human needs and provides a unique experience for residents.

5 February, 2024

11 free zones to be built in Egypt

Egypt is set to establish 11 free zones across different newly-built cities across the country to boost industrialization and attract foreign investments. These free zones would be roughly 150 acres each in cities like New Obour, New October, New Alamein, and specific cities in Upper Egypt, among others. The main goal of this development is to quickly provide ready industrial land, specifically for projects that export their products abroad.

6 February, 2024

New cycling track project launched in Saudi Arabia

The Sports Boulevard has officially unveiled an immersive cycling experience, Riyde, through a partnership with the global technology company BKool. Visitors will get to experience a virtual 5.24-km route, equivalent to 10-15 minutes of cycling, tailored to different fitness levels. Additionally, they will be able to use virtual reality technology to explore the transformative vision of Riyadh through the completed Sports Boulevard. This collaboration, combining the expertise of a pioneering virtual cycling simulator with the innovative vision of the Sports Boulevard, is aimed at boosting fitness levels in Riyadh.
Riyde will utilise cutting-edge technology to create a virtual cycling experience. Residents will get to ride virtual routes, compete against each other, and enjoy an immersive cycling booth equipped with world-class hardware, thanks to the partnership with BKool. The Riyde booth, operational for an initial two-week period at public locations, provides an indoor, air-conditioned setting for friends, family, and colleagues to socialize, exercise, and compete. The immersive Riyde experience was a fantastic way for the Sports Boulevard to provide residents with cycling facilities and to boost sports participation while we are building Sports Boulevard's city-wide infrastructure. The endeavour includes over 4.4 million sq m of greenery, open spaces, and up to 50 multidisciplinary sports facilities.