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In the news this week
The 45,000-seat New Murabba Stadium will serve as a key venue for FIFA World Cup 2034, blending modern design with Saudi heritage. Scheduled for completion by 2032, the multi-purpose stadium will feature advanced technology, illuminated spaces, and sustainable architecture, solidifying Riyadh’s position as a global hub for sports and entertainment.
KEZAD Group and Witthal Gulf Industries LLC signed a Memorandum of Understanding (MoU) during Automechanika Dubai 2024 to establish the UAE’s first lithium battery recycling plant. The facility, which is scheduled to commence full operations by Q2 2027, will have the capacity to recycle 5,000 tons of battery waste annually by 2027.
Parkin Company PJSC signed an MoU with AWQAF Dubai to develop a multi-storey car park in Al Sabkha. Spanning 175,000 sq. ft., the facility will feature 350 parking spaces across seven floors and 9,600 sq. ft. of retail space, enhancing urban infrastructure in Dubai.
Kamdar Property Development unveiled 105 Residences in JVC, offering premium studio, 1-bed, and 2-bed apartments. Amenities include a rooftop cinema, fitness studio, swimming pool, and children’s play area. The project highlights Kamdar’s dedication to innovative and community-centric living spaces.
Blossom76, Tranquil Infra’s latest residential project, features 111 units and extensive amenities, including a rooftop gym, yoga space, swimming pool, and retail spaces. Construction starts January 2025, with handover slated for Q1 2027. Emsquare Engineering Consultants and Adnann Contracting LLC are key project partners.
Saudi Arabia’s Minister of Investment Khalid A. Al Falih announced an ambitious plan to expand the Riyadh Metro network with a total investment of more than US$21 Bn. The expansion would include the seventh line of the Riyadh Metro which will span nearly 65km and will have 19 stations, 14 of which will be built underground and five overground. It will link Qiddiya Entertainment City, King Abdullah International Gardens, King Salman Park, New Murabba, Misk City and Diriyah Gate.
The Trump Organization is expanding its Gulf presence with a Trump Tower and Golf Community in Riyadh, in partnership with Dar Global. These luxury developments follow projects like the US$530M Trump Tower Jeddah and US$2.66 Bn Oman Golf Community, reinforcing ties with regional real estate players and showcasing luxury innovation.
RAK Properties finalized designs for Nikki Beach Resort & Spa on Hayat Island, spanning 33,580 sqm with 156 luxury keys. Created in partnership with Gensler, the project features suites and sky villas. Construction will begin soon, with completion set for 2027, elevating Ras Al Khaimah’s hospitality offerings.
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