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In UAE, Nakheel has appointed contractors for the construction of District One West, a gated community with 467 luxurious villas and mansions comprising four, five, six and seven bedrooms, within the prestigious Mohammed Bin Rashid Al Maktoum City in Dubai. The construction contracts have been awarded to Fibrex Contracting L.L.C and Ginco General Contracting L.L.C, with work set to commence soon.
Emaar Properties announced the launch of two new projects in Dubai – The Heights Country Club and Grand Club Resort next to The Oasis, with a total development value of US$26.14 Bn. The Heights Country Club, spreading across 81 million sq ft and is valued at US$14.98 Bn, while Grand Club Resort spans over 60 million sq ft and have a development value of $11.17 billion.
Arista Properties has unveiled the US$136 Mn Wadi Villas project in Dubai’s Meydan, District 11, Mohammed Bin Rashid Al Maktoum City. Designed by HBA Architects, the development will feature 30 luxurious 4, 5 and 6-bedroom mansions.
Abu Dhabi-based investment and holding company ADQ has unveiled plans to invest US$35 Bn in Egypt. ADQ will acquire the development rights for Ras El-Hekma for US$24 Bn to develop the region into one of the largest new city developments. ADQ will also invest an additional $11 billion in prime projects across Egypt to support its economic growth and development.
Saudi Real Estate Co., Al Akaria signed a five-year development management contract with the Royal Commission for AlUla and AlUla Development Co. for the Sidrat AlUla project in AlUla Governorate. The 260,230sqm project will feature 810 residential units, in addition to commercial and retail spaces, with a total area of 36,760 sqm, complemented by many services and green areas.
Aramco has selected contractors to execute engineering, procurement and construction (EPC) works on 17 packages on the phase 3 of Master Gas System network (MGS-3) in the kingdom at an investment of US$10 Bn. China Petroleum Engineering & Construction Company, Sepco, Larsen & Toubro Energy Hydrocarbon, Mapa, Nesma & Partners are among the contractors who have received letters of intent on the scheme.
In Oman, Al Faiha Development Company launched its premium project, Smart Home, featuring residential apartments and offices in Al Ghala Heights spread over a 13,000 sq m area and will have nine floors and a penthouse. The development will include a mall, restaurants, a temperature-controlled swimming pool and a health club.
