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In the news this week
In UAE, Khalifa Economic Zones Abu Dhabi (KEZAD) Group has signed an agreement with Renov8 Polymer Industries to set up an advanced recycling facility. Renov8 Polymer Industries will invest US$150m, to develop a 30,000 square metre plot in KEZAD’s Polymers Park, as well as an expansion plot of 38,000 square metres adjacent to the primary facility, for the recycling of mixed plastic waste.
In Dubai, AHS Properties announced that it has acquired two low rise apartment buildings plots — one in Palm Jumeirah, and the other on the Dubai Canal. The buildings, which are both nine storeys high, comprise only 25 penthouses and sky villas, offering residents an exclusive and private experience, with some of the most sought-after views in the city.
Majid Al Futtaim Communities announced the launch of Lanai Island at Tilal Al Ghaf, as the first phase of Island Estates, a new ultra-luxury concept under the banner of ‘Signature Living by Majid Al Futtaim’. A limited release of 13 luxurious mega-mansions, the project is designed in collaboration with award-winning South African architect firm SAOTA and with stylish interiors by Kelly Hoppen Interiors.
In Saudi Arabia, The Royal Commission for AlUla announced completion of design works for its first purpose-built residential neighbourhood. The new neighbourhood will be home to over 700 units and more than 260,000 square metres, south of the hospital district in AlUla County.
Lucid Group, a US-based electric vehicle company, has signed up with local contractor Al Bawani for the construction of its first international production plant in Saudi Arabia which will have a capacity to roll out 155,000 vehicles per year. The new facility will come up on a 1.3-million-sq-m campus plot at the King Abdullah Economic City (KAEC).
In Oman, Galfar Engineering & Contracting announced that it was awarded a contract by Ministry of Health valued at US$ 47.3 million for the Construction of the New Central Public Health Laboratory (CPHL) at Al Khoud wilayat A’Seeb in Muscat Governorate. The duration of the contract is 24 months.
Heavy Engineering Industries & Shipbuilding Co. (HEISCO) signed a contract valued US$160.2 million, along with its consortium including its subsidiary Gulf Dredging & General Contracting Co. and Hyundai Engineering and Construction Co. for a project by Kuwait Port Authority. The scope of the project involves implementation of rehabilitation works from Berths 1-7 in the Shuwaikh port.
