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In the news this week
In UAE, Dubai South and Aldar Properties will develop a build-to-suit facility for Kuehne+Nagel, one of the world’s leading logistics providers, at EZDubai, the fully dedicated e-commerce hub in Dubai South.
Spanning 22,915 square metres, the facility provides third-party logistics (3PL), e-commerce, and goods handling services, and is designed to include office space, warehousing capabilities, and an amenities block.
In Oman, OQ, the global integrated energy group signed a strategic partnership with Multibond Metal, to establish a manufacturing facility at its Ladayn Polymer Park in Sohar Industrial Estate. The plant will produce advanced polymer solutions for heat resistance and surface protection and calls for an investment of US$23 Mn.
As part of Round 4 of the Saudi National Renewable Energy Program (NREP), supervised by the Ministry of Energy, Saudi Power Procurement Company signed two power purchase agreements (PPA) to procure power from the 600MW AlGhat Wind Project and the 500 MW Wa’ad Alshamal Wind Project.
The agreements were signed with a consortium led by Marubeni Corporation, including Abdulaziz Al-Ajlan Sons Co. for Commercial and Real Estate Investment – Ajlan & Bros.
Retal Urban Development Company announced that its subsidiary Building Construction Company Limited was awarded a contract by Roshn Group and valued at US$771.2 Mn for its Aldanah project site 1 in Saudi Arabia’s Dharan City. The company will develop a detailed master plan and design and build 1962 residential units, infrastructure, landscape, and public amenities.
Egyptian real estate developer New Event Developments announced its third project, Qamari, located in the New Administrative Capital (NAC) with an investment of US$212Mn. The project features 7-storey residential buildings as well as swimming pools, a community mall, green spaces, sports fields, medical centre, a social club and other amenities.
Dubai’s real estate development and management leader, Wasl announced the launch and development of One B Tower – a new luxury high-rise situated in a prime location overlooking the picturesque Dubai Water Canal in Business Bay. The 48-storey tower comprises one to five-bedroom apartments, as well as two, three and four-bedroom duplexes, and a penthouse.
Public Investment Fund (PIF)-owned New Murabba Development Company (NMDC) has awarded a piling works contract for Mukaab, the centrepiece of the New Murabba downtown destination, to HSSG Foundation Contracting. When completed, the Mukaab will be one of the largest built structures in the world (measuring 400 metres in height, width, and length).
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