The temporary freeze on rents in Abu Dhabi has been implemented to create a predictable, people-centred residential environment where households and businesses can plan with confidence and security, said Abu Dhabi Real Estate Centre (ADREC) in a statement.
A consortium led by Abu Dhabi National Energy Company (Taqa) with Saudi group Aljomaih Energy and Water Company and China's Sembcorp Industries has secured the contract for the Taweelah combined cycle gas turbine (CCGT) project in Abu Dhabi with a 2.6GW capacity.
Arabian Construction Company Group has appointed Eric Savage as its new Chief Technology Officer (CTO). In this role, Savage will lead ACC’s technology strategy, overseeing enterprise systems, cyber security, IT infrastructure, data initiatives and digital innovation across the business.
SAB Invest, the investment arm of Saudi Awwal Bank (SAB), has joined hands with Retal Urban Development Company for the launch of a CMA-regulated real estate investment fund valued at SAR1.9 billion ($502 million). The project will be developed on a 19,000sqm site in Riyadh's Almalqa district.
The World Cement Association (WCA) has announced that CBMI Construction Company has become its Associate Corporate Member. Established in 1959, CMBI is a global leading service provider of green and low-carbon solutions for the cement and building materials industry.
Damac Digital has announced that its planned IT capacity landbank has reached 6,000MW across 13+ countries and a planned portfolio of 35+ sites, positioning it as one of the fastest-scaling global digital infrastructure platforms serving hyperscale cloud, AI and sovereign compute demand.
Elsewedy Electric, a leading provider of energy and infrastructure solutions in EMEA region, said the group continues its efforts to empower Saudi women and actively engage them in the workplace. Its Saudi female employees currently represent 6.5% of the group’s total workforce in the kingdom.
Leading Saudi developer Rikaz said its consortium comprising Aljada First Development and AlMajdiah Real Estate has been awarded a key contract to develop East Hindawiyah, a SAR2 billion ($533 million) mixed-use project coming up near the Grand Mosque in Makkah.
As markets await greater clarity on the direction of US-Iran talks, two constituencies are watching closely - Global investors, where a deal means lower oil prices and renewed momentum, and Dubai's real estate, where restoration of transactional confidence would back normalisation of market activity, said an expert.
AD Ports Group has announced that it has acquired Brazil’s leading independent agri-bulk port terminal operator Corredor Logística e Infraestrutura (CLI) at an enterprise value of AED3.1 billion ($835 million). This CLI deal gives AD Ports Group an entry point into Latin America.
