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In the news this week
SCA (Saudi Contractors Authority) and Ventures Onsite have joined forces to launch SCAVO, an innovative and comprehensive Construction Intelligence Platform for the Kingdom of Saudi Arabia. The MOU was officially signed during the Future Projects Forum held in Riyadh late last month.
In UAE, Emirates Global Aluminium (EGA) signed agreements worth over US$272 Million in the UAE. EGA and Sunstone signed an agreement that could lead to the development of a new carbon anode manufacturing facility in the UAE. EGA also signed a Memorandum of Understanding with VCI, an Indian disinfectant and carbo-chemicals producer, that could lead to the development of a pitch melting and processing facility in the UAE.
After years on hold, Palm Jebel Ali has been given the green light by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. The man-made island is twice the size of Palm Jumeirah and will have an area of 13.4 sq km, adding 110 km of coast to Dubai, and will be home to more than 80 hotels and resorts.
Vincitore Realty announces launching Dolce Vita Residences (H2)
Dubai-based developer Vincitore Realty announced the launch of its branded designer residences Dolce Vita with a development value exceeding $218 million. The Dolce Vita Residences and Dolce Vita Suites, to be built in Arjan, will comprise 479 branded designer residences, 220 luxury hotel suites, and 20 boutique designer retail outlets.
Q Holding Group has signed two agreements with Trojan General Contracting to design and build 1,742 villas for Emiratis in Al Samha and the West Baniyas region of Abu Dhabi. The West Baniyas project is scheduled to be implemented over the next four years, the Al Samha project will be implemented over a period of 38 months.
Hydrogen Oman (Hydrom) signed three groundbreaking agreements worth over $20 billion in the green hydrogen sector in Oman. The agreements were signed with Amnah, Oman Green Energy Alliance, and BP Oman to establish three major green hydrogen projects in Al Wusta. The projects are expected to produce half a million metric tons of green hydrogen.
The Turkish leather producer Iskefe Holding is planning to build a factory for the production of edible gelatin and leather derivatives in Egypt with an investment of $40 million dollars. The company is also considering developing and operating three production units.
