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In the news this week
The UAE developer Arada has awarded a US$20 Mn contract to build Sharjah’s largest fitness center at its Aljada master development to RAQ Contracting. Construction of the 65,000-square-foot fitness center at the Madar family entertainment district is expected to be complete in 12 months. The scope also includes an 18,000-square-foot trampoline park that will be managed by the Australian brand Bounce.
The Make it in the Emirates Forum held last week in Abu Dhabi witnessed the signing of 32 agreements and saw investment commitments of US$30 billion. At the forum, ADNOC alone has signed agreements for local manufacturing opportunities worth US$5.7 billion with UAE and international companies including India’s Intech Organics for manufacturing calcium and sodium bromide, Schlumberger and Independent Technical Services (ITS) for electric submersible pumps and its components, MaxTube Saje for glass-reinforced epoxy (GRE) lining of various metallic tubular products among others.
Saadiyat Island will have a new structure in 2024, a 17,000sq.m structure teamLab Phenomena Abu Dhabi nicknamed the Home for Infinite Curiosity in collaboration with the Department of Culture and Tourism and Miral. The architecture is conceptualised by teamLab and realised by local MZ Architects.
QatarEnergy announced that it has selected TotalEnergies, Eni and ConocoPhillips as its international partners in the North Field East (NFE) expansion project, the single largest project in the history of the LNG industry. The $28.75 billion NFE expansion project has a total LNG capacity of 32 million tons per annum.
Saudi Arabia’s Umm Al Qura Development & Construction announced that it has signed an agreement with Fakeeh Care Group to build a state-of-the-art hospital in Makkah city at an investment of $266 million. The facility will comprise 200 beds, 60 outpatient clinics, 20 emergency units, and six operating rooms.
Arabian Centers Company signed an agreement with the National Housing Company (NHC) to develop an integrated mall within Murcia residential project in Riyadh. The development works are expected to commence during the second half of 2022. The mall, estimated to cost US$70 Mn will have 45,000 square meters of gross leasable area and will include 150 shops in both closed and open areas with greenery and water features.
Maqam Misr Developments announced the launch of its new project, 5 East Tower in Egypt’s New Administrative Capital. The investment value for the 12-storey commercial tower will be US$36 Mn. Yasser Al Beltagy Architects (YBA) is appointed as the engineering consultant while Eltizam Group will manage and operate the project.
In Egypt, ACWA Power-led consortium, comprising Hassan Allam Holding signed an agreement to develop a 1.1GW wind project, at an investment value of US$1.5 billion. The project is the largest single contracted wind farm in the Middle East region and one of the largest onshore wind farms in the world.
