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In the news this week
In Oman, the Ministry of Finance has shortlisted ten companies for a public-private partnership (PPP) scheme to build and operate 42 new schools across the sultanate. The shortlisted companies are: Aberdeen Standard Investcorp Infrastructure Partners, Tamasuk Holding, Al Madina Real Estate, Vision International Investment Company, Galfar Engineering & Contracting, Oman Investment Corporation, Lamar Holding, Renaissance Services, Muscat National Development & Investment (ASAAS), and Alghanim International General Trading & Contracting. The next step is to call the shortlisted firms for the request for proposal (RFP) tender.
TotalEnergies and Veolia have signed an agreement to start the construction of the largest solar photovoltaic (PV) systems providing power for a desalination plant in the city of Sur in Oman. The power plant will be located on the site of the Sharqiyah Desalination plant. The 17-megawatt peak (MWp) solar project will be the first of its kind to be installed in the region and will produce annually over 30,000 megawatt-hours (MWh) of green electricity.
In UAE, ADNOC Drilling has received contracts worth US$2bn from Abu Dhabi National Oil Company (ADNOC) for the Hail and Ghasha Development Project. The contracts include $711m for the supply of four Island Drilling Units and another $1.3bn for the provision of integrated drilling services and fluids for the project. Each of the contracts will have a ten-year period.
Sharjah real estate developer Alef Group has launched Zone 3 of its Al Mamsha Sharjah development, which is being developed at an investment of $435.6mn. Zone 3 will comprise 2,210 units, offering a range of one-, two- and three-bedroom apartments with their own private terraces. Zone 3 is part of the larger Al Mamsha Sharjah masterplan, which is valued at $1.3bn. The project is taking shape in the Al Muwaileh area of Sharjah and is billed as the city’s first fully walk-able community.
In Egypt, Ishraq Hospitality, the asset management and hospitality division of Mohamed & Obaid AlMulla Group, and Capital Elite Development, an Egypt-based real estate company, have signed a deal to launch two new hotels in Cairo’s New Capital in Egypt. The properties will jointly add around 600 keys to the Egyptian hospitality market when they open to guests in 2025.
