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In the news this week
Shamal Holding, the owner and curator of Dubai Harbour, has announced its first residential project, Dubai Harbour Residences, featuring a range of apartments and penthouses with generous layouts, high ceilings and large terraces designed to be enjoyed year-round.
Dubai Harbour Residences is designed for superior liveability and will provide a beachfront collection of low-rise residences with epic panoramic sea and city views set against an iconic backdrop.
RAK Properties has launched EDGE, a striking residential development on Raha Island, due for completion in Q2 2027. Featuring 237 elegant homes with panoramic sea views, the tower will frame the entry to Raha Island with stunning views.
Rak Properties has entered a strategic agreement with RAKEZ to further enhance the attractiveness of the project to support the Golden Visa applications for project’s clients, enabling them to enjoy the benefits of long-term residency in the UAE.
The Kuwaiti-Saudi higher steering joint committee has given the go-ahead for a feasibility study on the rail link project between Kuwait City and Saudi capital Riyadh, which is set to open new horizons for logistic services between the two GCC oil-producing nations
Dubai-based Acube Developments will break ground on Electra, its latest residential project, in Jumeirah Village Circle in the second quarter of 2024, with handover expected in the second quarter of 2027. The developer will be utilising efficient construction techniques, strategically sourcing materials, and optimising project timelines to effectively manage costs.
Abu Dhabi-listed AD Ports Group and Orascom Construction have signed a memorandum of understanding (MoU) to develop a green methanol storage and export facility in Egypt. The facility aims to supply low-carbon fuel for maritime transport, AD Ports said in a statement on Tuesday. The value of the project and construction timeline has not yet been confirmed.
Nakheel, a member of Dubai Holding, has signed up DBB Contracting and Khansaheb Civil Engineering for the construction of infrastructure at Palm Jebel Ali, a premium development spanning 13.4km area in Dubai that will be home to 35,000 families.
DBB Contracting is a unit of the Dutco Group, a specialist in civil, mechanical and electrical engineering as well as dredging works, while Khansaheb Group is a leading construction and facilities management company.
Construction work is well in progress on the first phase of the SR17.2-billion (US$4.58 Bn). The Avenues Riyadh, is set to become one of the largest commercial malls in the Middle East, with a gross leasable area of around 370,000 sq m.
Kooheji Contractors, a leading Bahraini construction firm, said it has achieved a milestone in the development of the Marassi Terraces, Kooheji Contractors commenced work on MT1 on September 21 last year with an anticipated project completion date of November 20, 2025.
Diriyah Company has announced that it has started the construction work on a premium office, ‘The City of Earth’ within its key project – Diriyah Square. The five low-rise office buildings, designed with sustainability in mind, will offer nearly 39,000 sq m of gross leasable area.
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