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In the news this week
In Saudi Arabia, Diriyah Company announced the awarding of a US$2.13 Bn contract to build four luxury hotels and the Royal Diriyah Equestrian & Polo Club as part of the Wadi Safar master plan. The contract was awarded to a joint venture of Urbacon Saudi Co. and Al Bawani Co. Ltd, and construction will commence shortly. It is the biggest single contract awarded to date by the Diriyah Company.
Aramco signed a non-binding Letter of Intent (LoI) with a joint venture of Técnicas Reunidas and Sinopec, for the potential development of three gas compression plants at Jafurah, the largest unconventional gas field in the Kingdom of Saudi Arabia.
The LoI also relates to potential work to install a 230kV power connection at the gas plant substation area and upgrade the water pump system. If awarded, the total value of the project is estimated at approximately US$2.24 Bn with an execution time of 44 months.
Zakat, Tax, and Customs Authority (ZATCA), Saudi Arabia, in collaboration with the National Center for Privatization & PPP (NCP), received Expressions of Interest (EOI) from 59 local and international companies for the Residential Buildings project at Land Ports in the Kingdom of Saudi Arabia.
This project entails the design, development, operation, and maintenance of residential areas across 9 of the Kingdom’s land ports. ZATCA and NCP also received EOIs from 54 companies for the Water and Sewage Treatment Plants Project at ten Land Ports through a Public-Private-Partnership (PPP).
Abu Dhabi Investment Office (ADIO), together with Khalifa University of Science and Technology (Khalifa University), awarded KUnnected Living, a consortium led by Plenary Group, BESIX Group, and Mazrui International, a project to develop world-class student accommodation facilities in Abu Dhabi.
The development is the largest student accommodation project in the GCC to be developed under a PPP model and includes a 23-year concession to design, build, finance, and maintain 3,260 student rooms and communal facilities located across Khalifa University’s Main Campus and its Sas Al Nakhl (SAN) Campus.
Emirates Water and Electricity Company, EWEC issued a Request for Proposals (RFP) for the development of the Taweelah C Independent Power Producer (IPP) project, a new carbon-capture-ready Combined Cycle Gas Turbine (CCGT) plant located in the Al Taweelah Power and Desalination Complex in Abu Dhabi.
Expected to begin commercial operations in Q3 2028, Taweelah C’s efficient natural gas turbine technology will generate up to 2.5 gigawatts (AC). Responses to the RFP are expected in Q4 2024.
Aldar Properties announced the launch of The Arthouse, an exclusive residential community in Saadiyat Island in Abu Dhabi. It will feature a collection of vibrant spaces, including an art studio, gallery, and creative rooftop majlis, encouraging residents to collaborate, co-create, and
connect. Construction of The Arthouse is due to begin in the first quarter of 2025.
Kuwait’s Public Institution for Housing Welfare (PAHW) announced the award of a contract valued at US$294 Mn to China-based Avic International Holding Corporation for road works and infrastructure networks covering a total of 6,568 housing units across four residential suburbs within the South Sabah Al Ahmad City project. The scope of work includes the implementation of infrastructure within the suburbs N1, N2, N3, and N11, as well as rain, sewage, irrigation, treated water, and freshwater networks.
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