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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved the establishment of Dubai’s budget for the fiscal years 2025-2027. This three-year budget cycle includes a total expenditure of AED 272 Bn and a projected revenue of AED 302 Bn.
For 2025, 46% of the budget is allocated to infrastructure, encompassing projects for roads, bridges, tunnels, transportation systems, parks, and renewable energy facilities. This investment will also support the expansion of Al Maktoum Airport and the development of Dubai’s rainwater drainage network, further enhancing quality of life and sustainable transport.
Dubai South and INDU Kishore Logistics have commenced construction on a new logistics facility within Dubai South’s Logistics District. Covering 23,000 square meters, the facility will offer a storage capacity of 75,000 pallets and is expected to be operational by Q3 2025.
This addition will significantly enhance Dubai South’s logistics infrastructure and support regional storage demands.
The Mohammed Bin Rashid Aerospace Hub (MBRAH) has signed an agreement with Liebherr-Aerospace to establish a new Maintenance, Repair, and Overhaul (MRO) facility at Dubai South.
Spanning 2,400 square meters, the facility will be situated within MBRAH’s Aerospace Supply Chain cluster, with completion anticipated by the end of 2025. This collaboration aims to further strengthen Dubai’s aerospace capabilities.
AGI Palace Group, a joint venture of Abu Ghazaleh Investments and Palace Group, has appointed New York-based architects Kohn Pedersen Fox (KPF) to design their luxury residential project, The Cliffs, on Dubai Water Canal.
Covering a 185,339 sq. ft. plot in Jumeirah, this US1.1 Bn development will feature high-specification, ultra-luxury residences, marking AGI Palace Group’s inaugural project.
In Bahrain, Petrofac has been awarded a substantial two-year contract by Bapco Upstream W.L.L. to advance gas production within the Bahrain Field. Petrofac will enhance production through well hook-ups, pipeline installations, and tie-ins, supporting Bapco’s plans to meet the Kingdom’s growing gas demands.
Oman’s Ministry of Transport, Communications, and Information Technology has awarded Galfar Engineering and Contracting Company a US 119.5 Mn contract to expand the Izki-Nizwa road.
The 30.2 km project will upgrade the route with 10 new roundabouts, improvements to existing roundabouts, and one traffic signal, enhancing connectivity in the region.
The King Abdullah Financial District Development and Management Company (KAFD DMC) in Riyadh has launched a monorail project designed to improve transportation within the district. A 3.6 km driverless monorail system will connect key destinations, including office buildings and leisure spaces, through six strategically located stations.
The project, awarded to a joint venture including CRRC Hong Kong, CRRC Nanjing Puzhen, and Hassan Allam Construction Saudi, is expected to enhance pedestrian and transit accessibility within the district.
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