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In the news this week
The Ministry of Transport, Communications and Information Technology, Oman signed three strategic agreements related to roads, ports, and maritime services. The first agreement was signed with Galfar Engineering and Contracting for the implementation of a 30-km long Izki-Nizwa dual carriageway project in A’Dakhiliyah Governorate.
The second agreement for the design, construction, management, and operation of a port for transporting quarry products in the Wilayat of Shaleem W’Al Halaniyat Islands was signed with Manji International Ports.
The third agreement with Omani Integrated Logistic Services (ILS Oman) company involves devising an investment framework for the operation, management and development of ship supply and crew change activities at Port Sultan Qaboos.
Meeras awarded an estimated US$544 Mn contract Arabian Construction Company (ACC) to build its Design Quarter residential project in Dubai’s Design District. The development is spread across three buildings offering over 558 residential apartments.
The construction works are expected to be completed in 2027. The enabling works are progressing on the project and are being undertaken by International Foundation Group. Arif & Bintoak is the project consultant.
NMDC Energy, part of the Abu Dhabi-based NMDC Group, announced that it has won a US$2.6 Bn contract to work on a major energy project in Abu Dhabi. NMDC Energy will handle the engineering, procurement, and construction (EPC) services for the project. The work will begin on March 31, 2025 and will be completed in 57 months.
SOL Properties launched its latest flagship mixed use project, SOL Levante valued at US$272 Mn in Dubai’s Jumeirah Village Triangle (JVT). The project will feature 612 residential units, which include studios, one-bedroom, and two-bedroom apartments. The development also incorporates 100,000 sq. ft. of office space and 50,000 sq. ft. of retail area.
Doosan Enerbility announced the signing of a construction contract with the Saudi Electricity Co. (SEC) for the PP12 Combined Cycle Power Plant valued at US$610.7 Mn.
The power plant, when completed, will have a capacity of 1,800 megawatts (MW). Doosan Enerability along with SEPCO3 signed another EPC contract for the Rumah 1 and Nairyah 1 combined cycle power plant projects with the developer consortium consisting of ACWA Power, Korea Electric Power Corporation (KEPCO) and Saudi Electricity Company (SEC). Siemens Energy along with Harbin Electric International was awarded a US$ 1.6 Bn EPC contract for Rumah 2 and Nairyah 2 gas-fired power plants.
Badreldin Group together with InterContinental Hotel Group launched West Cairo’s tallest towers development comprising 40 storeys and 150m tall. The development will have residential, commercial and hospitality elements and include dedicated concierge services, conference rooms, co-working spaces, health and wellness facilities and a dynamic podium with retail and F&B offerings.
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