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Two major contracts worth $124mn have been awarded by Sharjah-based developer Arada to Airolink Building Contracting. The deal will see the construction of nine premium apartment blocks comprising 740 homes in Aljada, the developer’s 24m sqft mixed-use mega-project located in the Muwaileh area of New Sharjah.
Dar Al Arkan Global, the leading real estate company in Saudi Arabia, has joined hands with Italian hypercar manufacturer Pagani Automobili, for the unveiling of the first apartment at the hi-tech DaVinci tower located in Downtown Dubai. The apartment, a residential masterpiece, for the first time gave prospective buyers a glimpse into the world’s first-ever Pagani-inspired exclusive space as well as the uniqueness of the Da Vinci tower’s apartment portfolio.
Oman’s five-year plan and Vision 2040 program outlines a roadmap to diversify Oman’s economy through increased government spending on key non-oil sectors, and a strategy to stimulate private investments in various sectors including the construction industry. Project Oman, the International Construction, Technology, Infrastructure, and Building Materials Exhibition kicks off this month, on the 24 – 26th of October at the Oman Convention and Exhibition Centre. You will find a link in the description to register for this event.
The Saudi Downtown Company (SDC) has been launched by His Royal Highness Crown Prince Mohammed bin Salman, Chairman of the Public Investment Fund (PIF). The SDC aims to build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia.
According to a statement, the company plans to improve infrastructure and build strategic partnerships with the private sector and investors, by creating new business and investment opportunities in key economic sectors including retail, tourism, entertainment, and housing.
The Saudi Ports Authority (Mawani) announced that it has signed seven contracts and Memorandums of Understanding (MoUs) with partners from the public and private sectors with a total exceeding US$240 million.
The contracts included establishing a new integrated logistics park at Jeddah Islamic Port, developing the infrastructure according to the latest global standards, as well as developing the new ports’ management system.
UAE’s real estate development company Bloom Holding announced that it is planning to expand its education portfolio to Egypt through a joint venture with New Era Education and New Giza Real Estate Development with the launch an international school in Egypt. The new school is planned to be opened in August 2024 in New Giza, West Cairo.
The Egyptian government is considering a plan to build four industrial complexes for cooking oil production within a period of three to five years with an investment cost of US$307 Mn and an estimated total production capacity of 2,400 tons per day.
