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In the news this week
In Oman, local construction firm Saif Salim Essa Al Harasi & Co LLC (SAH) and JV partner Turkish Sembol Construction has won the contract for the Oman Cultural Complex project in Muscat for US$384 million.
The complex will include a 1,000-seat auditorium, a 20,000 sq.m National Library laid out across five floors, a National Archives featuring kilometres of archival shelf space, an exhibition centre, cultural centre and cinema hall.
In UAE, National Properties announced that it has signed up East Coast Contracting & Trading LLC as the main contractor for its iconic 399 Hills Park Project within the Dubai Hills community. Valued at US$272 Mn, the two towers development is scheduled for completion in Q4-2025 and comprises one, two- and three-bedroom apartments.
Damac Properties awarded a US$326.7mn contract to Darwish Engineering Emirates for the main works package for 275 villas in the Venice cluster in its Damac Lagoons community.
Damac also announced that contract award is imminent on 2 clusters with a total of 1,432 villas, while 1,025 villas across 2 clusters are in the final stages of design.
LEOS Developments officially unveiled its second residential community in Dubai – Weybridge Gardens, a mid-rise community in Dubailand comprising 187 contemporary apartments. The project is set for completion in Q2, 2025.
H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has endorsed a plan to establish a world-leading Smart and Autonomous Vehicle Industries (SAVI) cluster in Abu Dhabi.
The SAVI cluster is expected to contribute nearly $32 billion to the UAE economy and generate 30,000-50,000 jobs. The multi-modal cluster is designed to transform the development of smart and autonomous vehicles across air, land and sea.
Saudi Crown Prince and Prime Minister Mohammed bin Salman announced the launch of the master plan for the new Abha International Airport.
The terminal area will be expanded to 65,000 square meters from the current 10500 square meters. With the expansion, the airport’s capacity will increase tenfold to accommodate over 13 million passengers annually from the current capacity of 1.5 million passengers.
