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In the news this week
Saudi Arabia has approved a US$1.07 Bn investment to double the freight line of the North Train network, formerly known as the North-South Railway. The North Train, spanning 1,550 kilometres, serves as a vital freight line connecting phosphate and bauxite mines in the far north to the Al Baithah junction.
Saudi Aramco awarded contracts worth US$3.3 Bn to Tecnicas Reunidas and Sinopec to build a new natural gas liquids (NGL) facility in the Kingdom. The scope of works includes execution of Riyas NGL Fractionation Trains (Package 1) and Riyas NGL Common Facilities (Package 2), which covers utilities, storage and export facilities.
Ladun Investment Co. announced that its subsidiary, Built Industrial Co., won a project worth US$167 Mn from the Ministry of Municipal and Rural Affairs and Housing to expand the ministry’s headquarters in Riyadh. The scope of work includes all aspects of construction, architecture and MEP works for Buildings A and B.
Neom unveiled its latest region Zardun, a wildlife park surrounded by three hotels and a visitor centre. The project will be designed by Dutch studio OMA.
In UAE, Majid Al Futtaim Development awarded contracts totalling US$817 Mn for the Alaya and Elysian Mansions within its flagship Tilal Al Ghaf development in Dubai. Innovo Build won the contract for the 94-unit Elysian Mansions, while UNEC is the main contractor for the 130-unit Alaya villa development.
LEOS Developments has announced the launch of its new residential community, Cavendish Square, located within Dubai’s Jumeirah Village Triangle (JVT). The contemporary low-rise development will comprise 114 studios and 24 one-bedroom apartments.
Oman’s Al Maha Petroleum Products Marketing Company and Saud Bahwan Group signed an agreement for a commercial investment project Ghubra Front, built in Bawshar Heights in Al Ghubrah. The US$13 Mn project will extend over an area of 24,000 square meters and will consist of various commercial, recreational and service facilities.
