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In UAE, a new residential development valued at US$2.18bn located northeast of Yas Island in Abu Dhabi, was launched by HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.
Aldar Properties in partnership with the Abu Dhabi Housing Authority (ADHA) is developing the project, named Balghaiylam, which is scheduled to be completed by 2026, and offering 1,743 high-quality ready-built homes with access to a broad range of facilities.
Taraf, the real estate division of Yas Holding, launched their new project, Terrazzo Residences in Jumeirah Village Circle (JVC), Dubai, with 60% of the property allocated to open and green spaces.
Spread over two low-rise buildings housing 1-3 bedroom apartments with high-end finishing, and connects residences with the outdoors through spacious apartments of glass façades, an infinity pool and expansive terraces.
UAE’s Masdar, Japan’s Mitsubishi Chemical Group Corporation (MCG) and Inpex Corporation signed an agreement to explore the production of the world’s first commercial-scale polypropylene made from CO2 and green hydrogen in Abu Dhabi. The green hydrogen and CO2 will be converted to e-methanol, which will subsequently be converted to propylene and polypropylene.
Renowned Swiss property developer Fortimo is set to unveil their first build-to-buy residential project in the UAE on 25 July 2023. The project, named The Golf Residence, is an 11-storey residential complex situated in the heart of Dubai Hills comprising 200 residential units.
It features one, two, and three-bedroom apartments, Oasis Paradise Pool, a resort-sized swimming pool surrounded by sunken seating areas and shaded cabanas; a state-of-the-art gym and basketball court; landscaped gardens; and the Kids Haven, an outdoor recreation space.
Saudi Arabia’s National Housing Company (NHC) has launched its new integrated living project, ‘Sadayem’ in North Obhur in Jeddah. It will cover a total area exceeding 3.8 million sq m and house over 8,000 residential units, including villas, apartments, and townhouses.
During the launch ceremony, NHC signed agreements with a number of developers, including Rattal Real Estate Development Company, Mayar for Development and Real Estate Investment Company, Dar and Emar for Real Estate Investment and Development Company, Mohamed Al Habib and Partners Company, Ajdan for Real Estate Development Company, Thabat Al Maskan Real Estate Company, and Ebar Al Mamlaka Real Estate Company.
Saudi Arabia’s Public Investment Fund signed a memorandum of understanding (MoU) with Japan’s largest power generation company JERA Co., Inc. to explore opportunities to develop green hydrogen projects and derivatives.
The two parties will begin feasibility studies for the potential development of green hydrogen and derivatives projects to support domestic and international markets.
ACWA Power, a Saudi-listed company and the world’s largest private water desalination company, signed a memorandum of understanding (MoU) with Egypt’s New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt. The MoU allocates approximately 3,000 square kilometres of land west of Sohag.
