Friday 3 February 2023
 
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Aldar-Dubai Holding JV to develop new lifestyle projects

Abu Dhabi developer Aldar Properties said it has signed an agreement with Dubai Holding, a leading UAE investment conglomerate, to set up a joint venture entity for developing new living experiences across prime locations in Dubai.   The agreement, which marks A

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Masdar City breaks ground on 30,000-sq-m sustainable project

Abu Dhabi's Masdar City has announced the groundbreaking of its 30,000-sq-m sustainable community, The  Link, a 30,000-sq-m sustainable community featuring the region's first net-zero energy shared living and working facility.   It will boast four l

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Saudi Dussur-Korean JV breaks ground on $240m steel plant

SeAH GSI, a joint venture between the Saudi Arabian Industrial Investments Company (Dussur) and the leading Korean steel manufacturer - SeAH CSS, has broken ground on its first of its kind stainless-steel seamless pipes and tubes production facility in Saudi Arabia.  

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Bloom starts handover of 181 Abu Dhabi homes ahead of schedule

Leading UAE real estate developer Bloom Holding has announced that it has begun the handover of its 181-unit residential project Aldhay - the fifth phase of the gated community project Bloom Gardens - located on the Eastern Mangrove Corniche in Abu Dhabi.   Aldh

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RSG gets top Leed status for Saudi workers' village residential units

Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, said it has achieved Platinum Leed certification (Leadership in Energy and Environmental Design) for a collection of villas and townhouses at Tu

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Acwa Power hits record production in 2022 with new RO projects

Acwa Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, said it has added 2.4 million cu m/day of water desalination capacity across four reverse osmosis megaprojects in 2022, the largest in a calendar year in

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EPC leader NMDC’s net profit grows 30pc to $350m in 2022

National Marine Dredging Group (NMDC), a world-leading EPC and marine dredging group with over $15 billion of projects under execution, has grown its net profit by 30% in 2022 to reach AED1.3 billion ($350 million). This is compared to the net profit of AED1 billion reported

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King Abdullah Financial District partners with Sumitomo Corporation

The King Abdullah Financial District Development and Management Company (KAFD DMC) has signed a MoU with Sumitomo Corporation Middle East (SCME) to use its innovative eco-friendly coating solutions to reduce the heat island effect on surfaces within KAFD.   KAFD

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PIF, AeroFarms to build indoor vertical farms in Saudi Arabia

Saudi sovereign wealth fund PIF (Public Investment Fund) today (February 1) signed an agreement with AeroFarms, a US-based commercial market leader in vertical farming, to set up a new company in Riyadh that will build and operate indoor vertical farms in the wider Mena region. &

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Saudi Fund to provide finance for key Oman infrastructure project

Saudi Fund for Development (SFD) said it has signed an agreement with Omani authorities to provide finance for a key infrastructure project coming up within Al Dhahirah Special Economic Zone in Oman at a total cost of SR1.2 billion ($320 million).   This comes f

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