20 May, 2024

Plans underway for industial and technology facility expansion in Saudi Arabia

Baker Hughes, an energy technology company, is expanding its Industrial & Energy Technology (IET) facility in Dammam, Saudi Arabia. Once completed, the expansion is expected to create 60 new jobs and will add capacity for the current manufacturing and repairs of compression trains, seal gas and control panels. In addition, the expanded site will add capabilities for the manufacturing and testing of vibration monitoring systems and for gears repairs. The announcement was made at a groundbreaking ceremony hosted by Baker Hughes and attended by representatives from the Ministry of Energy, executives from the company's long-term strategic partner Aramco, and local suppliers.

20 May, 2024

$107m contract inked for new substation project in Saudi Arabia

Nesma Infrastructure and Technology (NIT), a major player in the region with presence in the UAE and Egypt, said it has secured a contract worth SAR400 million ($107 million) from the Saudi Electricity Company (SEC) for setting up a new substation in Thuwal region. The scope of work for the Al Jazeera Royal Palace substation project includes provision of engineering, procurement, construction and testing services. In addition, Nesma will be responsible for its commissioning as well as energising the transmission substation along with its connection to the national grid through 45 km of overhead transmission lines and underground power cables. As per the deal, this turnkey project is set to be delivered within 17 months.

20 May, 2024

New waterfront development project unveiled in Saudi Arabia

Saudi Arabia's tourism sector continues to expand, with Baheej Tourism Development Co. unveiling a new waterfront development project in Yanbu. This joint venture between ASFAR and the Tamimi-AWN Alliance, aims to develop the waterfront area of the Royal Commission at Yanbu. The initial project will cover 32,000 sq. m. and feature three leisure assets: a beach, a tourist activation center, and a hotel. It is set for complete unveiling in 2027. A fourth component is scheduled to be announced at a later date. Each aspect of the project aims to provide memorable and sustainable tourism experiences. 
Visitors will soon have the opportunity to explore Yanbu, a city with a rich history dating back to the 16th century, renowned for its architectural heritage and sandy beaches. Baheej envisions Yanbu as an iconic location that showcases Saudi Arabia's culture, history, and natural beauty, providing a unique destination to tourists. By analyzing risks and investment opportunities, the project aims to position Yanbu as a locally and internationally sought-after tourist destination. Baheej’s role will involve integrating local culture and promoting protection of the planet, enhancing Yanbu's appeal and supporting regional development. This approach aims to transform Yanbu's hospitality sector, blending community heritage with environmental stewardship.

20 May, 2024

Agreement signed for development of 295 residential homes in Saudi Arabia

Saudi-based Retal Urban Development Company has signed sub-development agreement with the National Housing Company (NHC) to develop 295 residential units in the suburbs of capital Riyadh at a total investment of SAR660 million ($176 million). These homes will come up over a total area of 93,482.76 sq m in Murcia zone of Khozam suburb. As per the deal, the BCC will complete the entire construction work within 26 months from the effective date of the contract.

17 May, 2024

Contract signed for commercial building complex in Saudi Arabia

Al-Modawat Specialized Medical Co. signed a lease contract with Qiam Real Estate Co. for a commercial complex building in Budaiya District, Muhayil. The contract will generate SAR 2.67 million annually at a rate of SAR 181 per square meter (sqm), for a period of three years. The lease contract covers a commercial building consisting of a basement, a ground floor, and three recurring floors, spanning a total area of 14,780 sqm. It will be used for the company's doing business purposes and internal expansion.

16 May, 2024

$51mln expansion plan approved for construction of transformers facility in Saudi Arabia

Electrical Industries Company has approved the expansion project of its wholly-owned subsidiary, Saudi Power Transformers Company, to manufacture extra-high-voltage transformers and 380-kilovolt (kV) reactors at a cost of 192 million Saudi riyals ($51.20 million). The project will also include increasing the current capacity of high-voltage transformers. The company has not yet awarded the contract. The six-month pilot production is likely to start in the first quarter of 2027. Commercial production is forecast to commence in the third quarter of 2027.

13 May, 2024

SAR 400 million substation project contract awarded in Saudi Arabia

Nesma Infrastructure and Technology (NIT) announces that it has signed a contract valued at around SAR 400 million with the Saudi Electricity Company (SEC) to construct the Al Jazeera Royal Palace Substation in Thuwal, Saudi Arabia. The scope of work for this fast-track project includes engineering, procurement, construction, testing & commissioning and energizing the transmission substation along with its connection to the national grid through around 45 km of overhead transmission lines and underground power cables. This turnkey project is set to be delivered within 17 months.

13 May, 2024

Contract signed to build training institute in Saudi Arabia

Al Mohafaza Co. for Education signed a contract with Salah Saleh Ibrahim Al-Muhaymid, to lease the land located in Al-Khalidiya District, Hafar Al-Batin Governorate, with an area of 798 square meters, to build a higher training institute. The lease period is 20 years, with a an annual rental value of SAR 80,000 for the first 10 years, and SAR 100,000 for the last 10 years, and a total contract value of SAR 1.8 million.

13 May, 2024

Contract awarded for construction of residential units in Saudi Arabia

Saudi Arabia's National Housing Company (NHC) has awarded a contract to China Machinery Engineering Corporation (CMEC) for the construction of 20,000 residential units at its projects coming up within the suburbs and neighbourhoods across the kingdom. This agreement is one of several with major international construction companies. It will entail building different facilities, including medical care establishments, schools, and retail stores. The deal is part of NHC's endeavour to contribute to achieving the objectives of the Housing Program, envisaged in the Kingdom's Vision 2030, through partnerships with leading international companies, attracting international investments in the real estate sector.

10 May, 2024

Four new luxurious hotels announced to be launched in Saudi Arabia

The Hospitality Management Holding (HMH), a major player in the hospitality sector, has announced big expansion plans for the region with the group set to open four hotels in Saudi Arabia over the next two years, thus adding 1,314 keys to its portfolio.  Among these highly anticipated openings is the Corp Yanbu Hotel & Residence, slated to welcome guests by June 2024, offering 104 keys of unparalleled luxury and comfort. In the pipeline for Q4 2024 is the Corp Madinah Hotel, featuring 150 keys of exquisite accommodations designed to provide guests with a memorable stay in the heart of Madinah. And looking ahead to Q1 2025, HMH is set to unveil the Corp Makkah Al Naseem Hotel, adding a staggering 460 keys to its already impressive portfolio in Makkah. In Q1 2026, guests can look forward to the grand opening of the Corp Madinah Al Naqaa Hotel, boasting an impressive 600 keys and setting new standards for hospitality excellence in Madinah.

10 May, 2024

Project plans launched for 246-key luxury hotel in Saudi Arabia

Leading luxury hospitality company Four Seasons and Saudi-based development firm Dar Al Omran Company have announced plans to launch a new luxury property in Madinah. The new-build hotel, to be located at the heart of Madinah, will feature 246 guest rooms and suites, multiple distinct restaurant and lounge concepts as well as other key amenities including expansive meeting and event space, a fitness centre and a spa. The conceptual architectural design of the hotel is by international architecture firm HKS, while LW Design Group will be leading the interior design of guest rooms and public areas, with AvroKO heading the interior design of the lobby, reception and dining outlets.

9 May, 2024

$112mln chemical factory to be set up in Saudi Arabia

Methanol Chemicals Company (Chemanol) has signed a plot allocation agreement with Jubail and Yanbu Industrial Cities Services Company (JABEEN) to set up a more than 420 million Saudi riyal ($112 million) chemicals plant. The company will establish and operate a choline chloride and methyl diethanolamine methane plant on the land plot in PlasChem Park Jubail (2). Chemanol aims to become one of the largest manufacturers of specialised petrochemical products in the region through the establishment of the project. 
The Ministry of Energy approved the required feedstock allocation for manufacturing specialty petrochemical products in December 2023. The new facility will produce methyl diethanolamine, choline chloride dimethyl disulfide and N-methyl pyrrolidone. The targeted products will be used in several strategic industries in the Kingdom, such as oil and gas, pharmaceuticals, fertilisers, construction materials, fuel additives, gas treatment and carbon capture.

9 May, 2024

Agreement signed to set up building materials facility in Saudi Arabia

The National Housing Company (NHC) has signed a co-operation agreement with China's Citic Construction to establish an industrial city and logistics zones for building materials, comprising 12 factories in Saudi Arabia, to secure supply chains for residential projects. The deal with Citic Construction is part of its efforts to secure supply chains for its residential projects, ensuring their timely implementation with high quality. The project will attract 12 factories from major specialized manufacturers of building materials, benefiting from Chinese experiences.
In addition, several local factories will join to enhance the level of operations and attract the best service providers for various sectors of the company, its subsidiaries, and other projects, following the highest international standards. The agreement will contribute to maximizing the economic and developmental impact of the real estate sector in the kingdom and developing and raising the quality of residential projects. It will also promote the national transformation in the construction sector through these industrial cities and logistics zones, which will serve the Chinese factories in localizing the building materials industry. Moreover, these facilities will provide opportunities for medium and small local factories to expand and help in providing direct production lines for the company's projects, as well as developing the local building materials industry and creating more opportunities in the sector. The collaboration will help improve the quality of housing unit products in construction works, serving as an extension of the comprehensive strategic partnership agreement between Saudi Arabia and China.

9 May, 2024

First coffee production factory to be established in Saudi Arabia

Saudi Coffee Co. has been given approval to begin operations in Jazan, marking the establishment of the first production facility for the product in the Kingdom. The factory, which will be built on an area of 30,000 sq. m., seeks to produce and export Saudi coffee, strengthen local and global supply chains in line with the goals of Vision 2030, and contribute to the sustainability of the sector. The move came as part of the city's signing of various investment agreements and capital contracts. Saudi Coffee Co. initially signed an investment deal with the Royal Commission for Jubail and Yanbu to construct the warehouse in November, 2022. The new facility is expected to raise Saudi coffee output from the current 300 tonnes per year to 2,500 tonnes by 2032 while further developing a more sustainable and localized value chain.

8 May, 2024

Two new branded hotels to be launched in Saudi Arabia

Global hospitality major Hyatt has announced that one of its affiliates has entered into management agreements with Knowledge Economic City (KEC) for two new Hyatt-branded hotels - Hyatt House Madinah KEC and Hyatt Centric Madinah KEC. These properties will add a combined 576 keys to Hyatt's portfolio in the Kingdom of Saudi Arabia (KSA). Hyatt House Madinah KEC will include 446 residentially-styled rooms, ensuring comfortable accommodation for all types of travellers looking for a home away from home. Hyatt Centric Madinah KEC will feature 130 modern rooms and suites with art and styling elements that celebrate the character of Medinah. The lifestyle hotel will seamlessly blend functionality with boutique charm, providing a local home-base for savvy travelers returning from city exploration.

7 May, 2024

$60mln Solar tracker manufacturing facility will be built in Saudi Arabia

The Saudi Industrial Cities and Technology Zones Authority (MODON) has allocated 200,000 square metres of land within Jeddah's Second Industrial City to manufacture smart solar trackers and building-integrated solar photovoltaic (BIPV) systems. The project is supported by Chinese investments totaling 225 million Saudi riyals ($60 million). Details about the investor or the capacity of the facility have not been disclosed but the project is in line with the localisation targets of the national industrial strategy and the kingdom’s renewable energy goals.

7 May, 2024

$140 million contracts awarded in Saudi Arabia

Global engineering firm, Parsons has awarded two significant contracts in Saudi Arabia during the first quarter of 2024. The first was a new $87 million threeyear contract. This project is for the development of a luxury mountain tourism destination and the real estate development customer is owned by the Public Investment Fund of Saudi Arabia. The second award was a $53 million contract for program management of Riyadh's road network.

7 May, 2024

New water theme park project launched in Saudi Arabia

Saudi-based Qiddiya Investment Company (QIC) has announced the launch of Aquarabia, the first water theme park of its kind in Saudi Arabia and the largest in the region. Aquarabia will be Saudi Arabia's first home-grown water theme park and will draw visitors from across the globe with its 22 rides and family-friendly water-based experiences. This includes four world-records including the world's tallest water coaster, the tallest drop body slide, the tallest water slide, and the longest mat racer. Aquarabia will also feature the first underwater adventure ride featuring fully submersible cars. Adrenaline lovers will enjoy an extreme watersports zone dedicated to rafting, kayaking, canyoneering, free solo climbing and cliff jumping, as well as the kingdom's first surf pool. Moreover, Aquarabia will offer immersive, narrative-based design elements and attractions seldom seen in water parks. It is currently under construction and are expected to be completed in 2025.

6 May, 2024

$43mln drilling contract awarded in Egypt

Saudi-listed ADES Holding Company has received a direct award of contract (DAC) from Suez Oil Company (SUCO) in Egypt for three jackup drilling rigs in the Gulf of Suez, which is expected to commence in the coming weeks. The value of the 21-month contract is 161 million Saudi riyals ($42.93 million). The new award follows the group's recent contracts in Qatar and Thailand, slated to commence operations in the second half of 2024. These awards bring the total redeployments of the recently suspended rigs in Saudi Arabia to three out of five jack-ups.

6 May, 2024

SAR 161M contract awarded for drilling project in Saudi Arabia

ADES Holding Co. received a direct award contract (DAC) from Suez Oil Co. (SUCO) in Egypt, on May 2, 2024, for jack-up drilling rig in the Gulf of Suez, at a total value of SAR 161 million. The 21-month contract is for a standard jack-up rig from its existing fleet. Work is to commence in the coming weeks.

6 May, 2024

SAR 60M contract inked for steel pipe manufacturing in Saudi Arabia

East Pipes Integrated Company for Industry signed a contract with Maramer Contracting Co. on May 5, 2024 at a total value exceeding SAR 60 million. Under the six-month contract, East Pipes will manufacture, coat, and supply steel pipes.

6 May, 2024

New industrial city and logistics zones to be established in Saudi Arabia

The National Housing Co. (NHC) signed a cooperation agreement with China's CITIC Construction Group to establish an industrial city and logistics zones for building materials. The project will include 12 factories to secure supply chains for residential projects. The agreement comes within NHC's framework of securing supply chains for its residential projects, and ensuring their implementation at the target time with high quality. The project aims to attract 12 of the largest factories specialized in building materials and benefit from Chinese experiences. It also includes the entry of some local factories to boost the level of business.

6 May, 2024

Foundation stone laid for air conditioners manufacturing factory in Saudi Arabia

In light of the industrial renaissance witnessed by the Kingdom of Saudi Arabia under Vision 2030, which aims to support local content, localize industry, and transfer knowledge, and the Saudi Green Initiative, which aims to achieve the vision of reducing carbon emissions by 2030 and paving the way towards zero neutrality by 2060, Basic Electronics Co., Ltd. celebrated the laying of the foundation stone of the Advanced Basic Company for Industry's factory. The factory specializes in the manufacture of air conditioners to provide sustainable and environmentally friendly cooling solutions that directly contribute to reducing carbon emissions. The ceremony took place on April 23, 2024, on a total area of more than 70,000 square meters for the first stage. The project aims to employ more than 2,000 employees. The first phase of the industrial complex aims to produce high-efficiency smart air conditioners with VRF technology integrated with photovoltaic energy production technology to meet immediate needs. It also includes smart and innovative laboratories for device testing, a research and development center, and a training facility. The second phase of the industrial park will encompass the production of all air conditioning solution technologies using the latest industrial technology programs worldwide, such as artificial intelligence and digitization systems produced by our strategic partner, Gree Company, which holds numerous patents globally.

6 May, 2024

Plans underway to establish new luxury hotel in Saudi Arabia

The Saudi hospitality landscape is poised to welcome a new luxury hotel brand following a management agreement between UK-based IHG Hotels & Resorts and REFAD Real Estate Co. The deal will bring the lifestyle brand Hotel Indigo & Residences, featuring 200 keys, to Alkhobar by September, 2027. Supported by the Kingdom's Tourism Development Fund, the hotel will also include serviced apartments. Hotel Indigo and Residence will provide guests with a range of dining options, including the Neighborhood Cafe and Lobby Lounge, as well as an Executive Lounge for a diverse culinary experience. Business travelers will have access to facilities, including five meeting rooms and a ballroom spanning 290 sq. m., all equipped with the latest technology.

3 May, 2024

Agreement signed to establish an integrated commercial project in Yanbu

Royal Commission for Jubail and Yanbu and the Chairman of the Board of Directors of Al-Othaim Investment Company signed an agreement to allocate a site for the establishment and operation of an integrated commercial project in the waterfront of Yanbu Industrial Area worth $106 million (SAR400 million).
The agreement was signed to allocate the project site on the waterfront in Yanbu Industrial City with an area of 200,000 square metres that includes an integrated commercial mall, a hotel with international specifications, in addition to huge entertainment spaces, distinctive restaurants and cafes, multiple cinemas, and open green spaces on the façade, and the project is characterised by its smart design and innovative distribution of jobs and services.

2 May, 2024

Contracts signed for construction of residential buldings in Saudi Arabia

Stella Stays, a leading proptech company offering customer-centric, technologically-supported living spaces, has recently signed contracts for two new buildings in Riyadh. The properties, located in the vicinity of the Malik Fahad Road in the capital, will add 162 new residential units into the group's Saudi portfolio. The two new branded residences - marked as 3rd and 4th towers - which opens later in 2024, will offer guests Stella Stay's signature user-centric services, with modern sleek interiors and spacious, fully-equipped apartments, specifically designed to cater to guest's needs. The towers represent the company's 'Show Up and Start Living' concept, offering modern, fully equipped apartments and co-working spaces, along with other recreational, commercial and community amenities. While the addition of these buildings marks a key milestone for Stella Stays, it also underscores the company's overarching mission; to provide enhanced user experiences and redefine the standards of modern living globally.

2 May, 2024

New luxury hotel apartments to launched in Saudi Arabia

Saudi-based Ladun Investment Company has signed a partnership agreement with award-winning hospitality group, Cheval Collection featuring numerous contracts for the construction and operation of Cheval Ladun Living - a tower featuring luxury hotel apartments situated on King Fahd Road in Riyadh. The construction of the SAR300 million ($80 million) tower is set to commence in 2024, with likely completion in 2027. The partnership marks the first project of Cheval Collection in Saudi Arabia, and will feature 130 residential units of various sizes, from one- to three rooms, along with amenities including a gym, swimming pool, and sauna. Several contracts were also signed with key service providers and partners, including the primary contractor, Built Industrial Company (a Ladun Investment subsidiary); Al Rajhi Bank for project financing, Khatib and Alami Company for design and implementation supervision; Abdulelah Al Mohanna Company for architectural design consultation; DZ Company for interior design consultation.

2 May, 2024

45 New hotels to be built in Saudi Arabia

French multinational hospitality company Accor is set to expand its hotel portfolio in Saudi Arabia with 45 new establishments by 2030.  While the company currently has 41 hotels in the Kingdom, it plans to add more – initially claiming there would be another 40, before later revealing it be 45, with an additional 9,800 rooms by 2030. It aims to actively share its expertise, learn from industry peers, and collaborate on initiatives that will shape the future of the hospitality sector. Accor and the Ministry of Tourism in Saudi Arabia have signed this partnership, which is dedicated to nurturing and developing Saudi talent in the hospitality industry.

2 May, 2024

Deal signed for new luxury lifestyle hotel in Saudi Arabia

Abha, a city in Saudi Arabia's Asir region, is poised to welcome its first luxury lifestyle hotel through an upcoming deal with American operator Valor Hospitality. Valor has signed a deal to break ground on a very different upscale property in Abha, with details to be announced within a month.

30 April, 2024

Land lease agreement signed for new factory construction in Saudi Arabia

Arctech signed a land lease agreement with Saudi Arabia's MODON regarding the construction of Arctech's factory in Jeddah, marking a new phase for Arctech's Saudi factory investment. The factory will cover around 97,00㎡. Upon completion, it will become Arctech's second overseas production base following Gujarat, India. Planned for manufacturing high-quality PV tracking systems with a 3GW capacity, it can supply PV projects in the Middle East market. Coupled with Arctech's global supply chain, the localized production enables a 10GW local delivery capacity, bolstering supply chain resilience overseas. Arctech's Jeddah factory will drive the local PV industry chain's development and increase employment opportunities, positively impacting Saudi Arabia's sustainable economic development. This agreement signifies a new start for Arctech to implement the 'Belt and Road' cooperation initiative. Arctech will continue upholding its 'going global, blending in and being integrated' globalization strategy, contributing to global sustainable development.

29 April, 2024

Contract warded for construction of residential buldings in Saudi Arabia

Saudi-based Retal Urban Development Company has awarded a contract worth SAR240 million ($64 million) to its key subsidiary Building Construction Company (BCC) for the construction of eight residential buildings in Sedra district in Riyadh City, without any preferential conditions or benefits. As per the deal, the BCC will complete the entire construction work within 26 months from the effective date of the contract.

29 April, 2024

Worlds largest coral restoration project launched in Saudi Arabia

King Abdullah University of Science and Technology (KAUST) has collaborated with NEOM, the developer of Saudi futuristic city, to start working on the first nursery of the KAUST Coral Restoration Initiative (KCRI). The newly built nursery, on the coast of NEOM in northwest Saudi Arabia, will transform coral restoration efforts with a production capacity of 40,000 corals annually. Functioning as a pioneering pilot facility, researchers will leverage it as the blueprint for large-scale coral restoration initiatives. Most importantly, this facility serves as a precursor to a more ambitious project - the world's largest and most advanced land-based coral nursery. This nursery, located at the same site, is an advanced coral nursery that will boast a ten-fold larger capacity to nurture 400,000 corals annually. Set on a 100-hectare site, the initiative will deploy two million coral fragments, marking a significant step in conservation efforts. With construction quickly progressing, the project is anticipated to reach completion by December, 2025. KCRI is the world's largest coral restoration project, aiming to restore reefs worldwide, said the university in its release. The primary nursery is already operational, and a second facility is being developed, both located in the Red Sea.

25 April, 2024

320k new hotel rooms to be developed in Saudi Arabia

Saudi Arabia is gearing up to expand its hospitality sector by developing 320,000 new hotel rooms by 2030. It has been disclosed that as much as 67 percent of the planned hotel room supply in the Kingdom would fall in the upscale or luxury categories, referring to 4-star and 5-star accommodations. This move aims to cater to the projected surge in tourism, with 150 million domestic and international tourists expected by 2030.

24 April, 2024

Work to commence soon on $475mln new containerboard factory in Saudi Arabia

Middle East Paper Company (MEPCO) has approved 1.78 billion Saudi riyals ($474.56 million) for the construction of a new phase of the containerboard paper plant project. The feasibility study on the fifth paper line (PM5) has been completed. The final budget includes the land value and an internal rate of return estimated at 14.5 percent. Construction on PM5, which will have a production capacity of 450,000 tonnes, will start in the third quarter of 2024. The project is expected to be completed in the fourth quarter of 2027, with commercial production starting in the same quarter. The new phase will be funded by MEPCO's own resources, long-term loans from local banks and use of funds resulting from the issuance of the shares to the Saudi sovereign Public Investment Fund (PIF).

19 April, 2024

Joint venture partnership signed to develop smart cities in Saudi Arabia

Middle East regional technology services company, Hitek, part of the Farnek group of companies, has signed a joint venture partnership with Virgin Mobile Saudi; a Beyond ONE group company, as the preferred technology partner to enable a joint strategic approach to developing smart cities in Saudi Arabia. With smart cities relying heavily on connectivity, Virgin Mobile Saudi, in conjunction with local providers, will be responsible for advanced telecommunications solutions, including 5G networks, digital services and enablement.

19 April, 2024

Plans announced to built hydroponic greenhouse in Saudi Arabia

Tabuk Agricultural Development Co. (TADCO) has signed a non-binding memorandum of understanding (MoU) with NEOM Food Company (Topian) to develop, construct and operate a hydroponic greenhouse for the production of fruits and vegetables in Tabuk. Under the agreement, TADCO will source 100 hectares of agricultural land to construct a mid-tech hydroponic vegetable facility with sufficient water and electricity in a suitable location in Tabuk. The company will also assist in arranging the offtake to Topian for supermarket, retail and wholesale buyers in Saudi Arabia. In addition, it will provide warehousing, cold storage, labour and other appropriate equipment for the project. Moreover, TADCO will provide support for the supervision of the facility's construction. Meanwhile, Topian will design and install the greenhouse and provide technical expertise for its establishment, operation and maintenance. The cost of the project was not discussed.

18 April, 2024

MoU signed for development of resorts in Saudi Arabia

Saudi Arabia is set to witness the development of new luxury resorts as the Tourism Development Fund signed a memorandum of understanding with Karisma Hotels and Resorts International. The signing took place at the International Hospitality Investment Forum in Berlin on April 17, 2024. The MoU seeks to explore opportunities for developing resorts and enhancing new areas of the tourism and hospitality sector in the Kingdom. The agreement outlines a roadmap to determining a methodology for investing and providing financial and non-financial support to a vibrant ecosystem of investors, clients, and partners. The fund aims to connect the world with opportunities in the Kingdom's fast-growing tourism sector. It offers financial and non-financial support to international and local investors. Karisma will introduce first-of-its-kind experiential leisure hotels in partnership with worldwide acclaimed brands, bringing a new offering of leisure vacations to the Kingdom. The initiative aims to increase and diversify tourism offerings, enhance the capacity of tourism hospitality facilities in tourist destinations, and attract private investments in the hospitality sector.

18 April, 2024

Contract awarded for airport automated people mover system in Saudi Arabia

Alstom, a global leader in sustainable and green mobility solutions, announced a major contract that involves enhancing and increasing the capacity of the Innovia automated people mover (APM) system at King Abdulaziz International Airport in Jeddah, Saudi Arabia, a significant step in accommodating the airport's projected passenger growth, which is expected to surpass 100 million by 2030. Alstom's responsibility includes the design, engineering, supply, integration, testing and commissioning of a full system upgrade of Jeddah's International Airport Terminal 1 People Mover, including four additional state-of-the-art Innovia APM cars, to be added into the current fleet of ten. The project will also feature an upgrade to the signalling and communication systems, the implementation of platform screen doors, cybersecurity enhancements, and the establishment of a new Operation Control Room. The APM cars are equipped with Cityflo 650 CBTC solution, which has been designed to meet the most stringent safety, reliability, maintainability, and availability requirements. The existing fleet will be retrofitted with the latest Motion Recording Video systems. The project will draw on Alstom's global in-house expertise in integrated railway systems. This expansion is in line with the Vision 2030 of Saudi Arabia and the Saudi Green Initiative, focusing on sustainable and efficient transportation. The upgraded Innovia APM system plays a key role in reducing transport emissions, enhancing the airport's capacity as an international hub, and aiding the nation’s transformation into a global logistics centre. With the improvements and additional cars there is an approximately 90% increase in system capacity from the current system. This significant upgrade will be instrumental in accommodating the increased passenger volumes resulting from the nation’s active promotion of tourism and the modernisation of visa protocols. Alstom's mission to bolster the Jeddah Airport Company's (JEDCO) operational efficiency shines through this project, reinforcing our pledge to be a resilient, long-term partner in the region's remarkable evolution.

16 April, 2024

Six new mining sites bidding deadline has sets in Saudi Arabia

Saudi Arabia has set May 1, 2024 as a deadline for submitting proposals for six new mining sites within the fifth licensing round in the Kingdom's drive to tap its massive minerals wealth. The new sites include Halahilah and Jabal Qaran in the South-western Najran province, Makman Hejab in Riyadh, Nimas and Hajirah in the Southern Asir province, and Almiyah in the Western Makkah region. These sites are potentially rich in gold, silver, copper, zinc and lead and will benefit from funding by the Industrial Development Fund of 75 percent of exploration costs. The successful bidders will be announced in June 2024, 2024.

16 April, 2024

Strategic partnership inked to establish local manufacturing facility in Saudi Arabia

GameChange Solar (GCS), a leading global supplier of single-axis solar tracking solutions for ground-mounted PV plants, announced a strategic partnership with Jiangsu Zhenjiang New Energy Equipment Co. Ltd. (JZNEE), a China-based listed company. The collaboration marks a significant step towards enhancing local manufacturing capabilities for solar tracker components in the Middle East. Under this partnership, JZNEE will establish a state-of-the-art local manufacturing facility in Dammam, KSA, to produce up to 3 GW, expandable to 5 GW, of solar tracker components for GCS's Genius Tracker. The goal is to have the facility operational by June 2024. This initiative aligns with the growing local content requirements in the region and emphasizes both companies' commitment to supporting renewable energy growth in the region. As the exclusive local partner, GCS will ensure the timely delivery of high-quality Genius Tracker components for upcoming projects in the Middle East. GCS will provide non-steel components, such as actuators, node controllers, and drive systems, ensuring the utmost quality and reliability of its solar tracker systems. Additionally, GCS will offer comprehensive after-sales support, commissioning, software, and service, demonstrating its commitment to customer satisfaction and project success across the Middle East.

15 April, 2024

SAR 21million building construction contract to be awarded soon in Saudi Arabia

Al Kathiri Holding Co.'s subsidiary Msandh Al-Emdad Ltd. Co. was awarded a project by the Presidency of State Security to construct a building in Riyadh on April 9, 2024, at a total value of SAR 20.99 million. The project includes the supply and implementation of structural, architectural, mechanical, electrical and systems works for the building, in accordance with competition drawings and documents to ensure that the works are carried out at the highest standards in the field. The expected date of contract signing is May 8, 2024.

8 April, 2024

Construction work underway on new museum in Saudi Arabia

Work is currently underway on a major new museum being developed by the Saudi Ministry of Culture and art collective teamLab in Jeddah Historic District. Located in the Red Sea coastal city of Jeddah, teamLab Borderless Jeddah is being built on the shores of Alarbaeen Lagoon overlooking the panoramic views of Jeddah Historic District, a Unesco World Heritage Site. The museum is part of the Saudi Ministry of Culture mandate in the Jeddah Historic District's revitalisation programme which seeks to preserve the historical and cultural urban centre as a vibrant cultural hub, reflecting the Kingdom's diverse history and its innovative spirit. The teamLab Borderless is a world of artworks without boundaries, a museum without a map created by art collective teamLab. Artworks move out of rooms, communicate with other works, influence, and sometimes intermingle with each other with no boundaries, forming one borderless world. As people immerse their body in this borderless art, they wander, explore, and discover. Spanning approximately 10,000 sqm of gross floor area, the immense museum is making steady progress in development towards completion. Spanning approximately 10,000 sqm of gross floor area, the immense museum is making steady progress in development towards completion. The Jeddah facility will be its first-ever permanent teamLab Borderless museum to be launched in the Middle East. The immense museum is making steady progress in development towards completion. As a collaborative initiative between the Saudi Ministry of Culture and teamLab, the all-new teamLab Borderless Jeddah will become a part of the further development of a thriving cultural ecosystem in the Kingdom.

8 April, 2024

Construction work underway for $7bn mixed use project in Saudi Arabia

Saudi-based Thakher Development Company has announced that steady progress is being made on its SAR26 billion ($7 billion) premium development, Thakher Makkah, located in the Saudi city, featuring a mix of residential, retail and hospitality elements. Spanning an area of 320,000 sq m on a site located 1 km from the Grand Mosque (Haram), the massive project will, upon completion, include about 100 land plots for the development for hotels and residential, commercial, and service-related facilities. As part of this initiative, work has been completed on 8 four-star hotel properties as well as hotel apartments, which are being managed by international operators. These facilities boast over 2,276 rooms and 7,000 beds, providing high-quality services designed to fulfil the diverse needs of all visitors. As part of the larger initiative, Thakher will be developing some of the old neighbourhoods of Makkah in co-ordination with the Royal Commission for Makkah City and Holy Sites, thus providing distinguished services to the pilgrims. The mega Thakher Makkah project will provide 15,000 direct and 18,000 indirect jobs. The project partakes in achieving the objectives of Vision 2030 by enhancing the services provided to pilgrims and enriching their experience.

3 April, 2024

Two new hypermarket project plan finalized in Saudi Arabia

In a bid to further expand its retail portfolio in Saudi Arabia, UAE based Lulu Group has finalized two new projects in the Holy cities of Makkah and Madinah.
The first lulu project at Jabal Omar 3 in Makkah is a mixed-use project which envisages the establishment of Lulu store in Souq Al Khalil, will be developed by Jabal Omar Development Company. The new store will be within walking distance of Masjid al Haram, Makkah Mukarramah and is part of the Jebal Omar project covering a total of 253,000 sq. mtr with a total build-up area of 2.5 million sq. mtr. This project is scheduled to be completed in seven 7 phases and the whole project will feature hotels and branded apartments to serve the millions of pilgrims from around the world who come to Makkah, making it one of the busiest pilgrimage centres in the world.
The second Lulu project is located at Al Madinah Al Munawarah which is being developed by Al Manakha Urban Project Development Company. The project will cover an area of 2161 square meters.

3 April, 2024

SAR 348.5 million contract signed for security building project in Saudi Arabia

Ladun Investment Co.'s subsidiary, Built Industrial Co., signed a SAR 348.5 million contract with the Presidency of State Security to implement architectural, electrical and mechanical works for a security building at Prince Naif Security City, Riyadh. The related positive financial impact of the project, running for 24 months, will be reflected in the company's results for 2024 and 2025.

2 April, 2024

First integrated community launched in Saudi Arabia

Roshn, a leading real estate developer powered by Saudi wealth fund PIF, has announced the launch of Almanar, its fifth integrated mixed-use community and the first venture in Makkah city. Located at Makkah's western gate, between the old and new expressways linking the city to Jeddah, Almanar is just 20 minutes away from the main mosque and under an hour from King Abdulaziz Airport in Jeddah. Phase One features 4,149 residential units that will house more than 17,000 people on a footprint of 2.5 million sq m area. It will feature a wide range of amenities, including a regional mall supplemented by eight neighbourhood commercial centers, a business park that will boost the city's economic development, and several mosques. Roshn offers a variety of residential options in Almanar, including 3- to 5-bedroom townhouses, duplexes and villas. The architectural design of Almanar draws inspiration from the heritage of the Western Province; it features intricate details, like elliptical and geometric patterns on the facades. The seamless blend of history and modernity creates a harmonious connection between Makkah's unparalleled heritage and the limitless potential of its future. It includes carefully designed green and open spaces, covering 12% of the community's total footprint, and providing comfortable areas for relaxation. Almanar will preserve and prioritize the natural landscape, with wadis meandering through its neighbourhoods. This approach creates a resilient green infrastructure that aligns with the local environment and ecological systems. Almanar's houses will feature industry-leading energy-conserving technologies, including modern insulation, solar water heaters, and efficient air-conditioning.

2 April, 2024

Plans announced to build truck manufacturing plant in Saudi Arabia

Tata Daewoo, a leading commercial vehicle manufacturer headquartered in Gunsan, South Korea, has announced plans to build its production unit in the kingdom of Saudi Arabia for tthe manufacture of trucks. In this connection, Tata Daewoo signed a MoU with its local distributor Saudi Diesel Equipment Company (SDEC) and local manufacturer Perfect Arabia Factory (PAF). As per the deal, Tata Daewoo will provide technology support locally, while SDEC and PAF will join forces to assemble Daewoo trucks in the kingdom.

1 April, 2024

15-year agreement signed for billboards installation project in Saudi Arabia

Arabian Contracting Services Company (Al Arabia) signed an advertising concession agreement with Umm Al Qura Development and Construction Company for the installation and operation of the billboards within the Masar master plan in Makkah Al-Mukarramah. The business model is of 15-year agreement. The agreement includes a total annual minimum guarantee of SAR 252.61 million distributed progressively from the fifth year to the fifteenth year of the agreement. The number of contracted billboards amounts to 315 fully digital of various types and sizes distributed across different areas, including 34 billboards on bridges and tunnels and 80 billboards on internal elevators. Situated on a total area of over 1.2 million square meters, Masar Makkah is a key project in Makkah Al-Mukarramah. The financial impact of the agreement is set to be reflected in Al Arabia's results starting from the first quarter (Q1) of 2025.

29 March, 2024

Consultancy contract awarded for $102.5m water project in Saudi Arabia

Ayesa, a leading global provider of technology and engineering solutions, has won its biggest contract ever in the Kingdom of Saudi Arabia (KSA), worth 95 million euros ($102.5 million). The National Water Company (NWC), a key figure in the water industry, has appointed the Andulasian firm to provide consultancy services for the design of 190 cutting-edge, sustainable water projects that will enhance both the quantity and quality of the resource. The contract is a part of NWC's commitment to provide safe drinking water and effective sanitation with a planned investment of around 200 billion euros by 2030 into comprehensive water cycle infrastructure including water treatment and sanitation processes to the delivery of potable water to its population.

28 March, 2024

Agreement signed to build an electricity and stream generation plant in Saudi Arabia

Abu Dhabi National Energy Company, better known as Taqa, and Japan's Jera have signed an agreement with a Saudi Aramco joint venture to build an electricity and stream generation plant in Saudi Arabia. The plant, which is expected to be operational in 2027, will supply up to 475 megawatts of power and 452 tonnes per hour of steam to the planned $11 billion Amiral petrochemical complex in the city of Jubail in the kingdom's Eastern Province. The agreement will bolster Taqa's efforts in building on our growth and executing on our 2030 goals. The electricity and steam plant will be developed by an entity owned by Taqa and Jera on a 25-year build, own and operate basis, which can be extended by five years on mutual agreement. Both the companies will also undertake the operation and maintenance of the plant through a special purpose entity. The project includes provisions for the future installation of a carbon dioxide capture plant and the capability to run on hydrogen. The cogeneration plant will not only enhance the Amiral complex's operational efficiency, but also demonstrates our commitment to environmental stewardship. The project will be capable of producing 1.65 million tonnes of ethylene and other industrial gases annually.the expansion would attract more than $4 billion in additional investment in a variety of industrial sectors and create about 7,000 jobs directly and indirectly in Saudi Arabia.

28 March, 2024

EPC contract to be awarded for tertiary water treatment project in Saudi Arabia

Saudi's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its Tertiary Treatment Plant in Dammam by the third quarter of 2024. The tender for the EPC contract was floated on 7 March 2024 with the bid submission scheduled on 17 April 2024. The contract is expected to be awarded by mid of third quarter of 2024. The project's scope of work involves capacity expansion of the tertiary treatment plant by 125,000 cubic metres/day (m3/day) and rehabilitation of the existing plant so that overall treatment capacity is raised to 332,000 m3/day. The project also involves construction of an inlet and a balance basin to overcome excess loads, and replacement of electrical transformers. The overall project completion and commissioning scheduled for the third quarter of 2026. The estimate of the project cost is $90 million.

27 March, 2024

Contract awarded for supply of transformers in Saudi Arabia

Electrical Industries Co., Saudi Arabia announced that its subsidiaries - Saudi Power Transformers Co.(SPTC) has signed a contract with Larsen &Toubro Saudi Arabia for the supply of transformers. The value of the contract is SAR 125,777,500. As per the contract, SPTC will supply the transformers for Jafurah Gas Project for Aramco. The duration of the contract is 20 months.

27 March, 2024

SAR 230 million contract signed for manufacture and supply of steel pipes in Saudi Arabia

East Pipes Integrated Company for Industry, Saudi Arabia announced that it has signed a new Contract with Saline Water Conversion Corporation (SWCC). The value of the contract is over SAR 230 million. As per the contract, the company will manufacture and supply of steel pipes to SWCC. The duration of the contract is 30months.

27 March, 2024

Agreement inked for distributed solar projects in Saudi Arabia

UAE-headquartered decentralised energy company Positive Zero announced that it has entered into a strategic partnership with Saudi Arabia-based Tamimi Energy to develop and deliver solar power projects across the Kingdom. The agreement was signed between SirajPower, Positive Zero's distributed power generation subsidiary, and Energy Equipment Rental Company (ENERCO), Tamimi's power solutions subsidiary. SirajPower and ENERCO will work together to bid, finance and deploy commercial and industrial solar power solutions across Saudi Arabia.

26 March, 2024

New theme park launched in Saudi Arabia

Saudi-based Qiddiya Investment Company (QIC) has announced that the launch of Dragon Ball theme park, as it continues to set new standards in the entertainment industry, offering anime fans, families, and entertainment seekers an immersive journey into the iconic Dragon Ball universe. Nestled within Qiddiya City, just 40 minutes from Riyadh, this never-seen-before anime theme park is set to become a jaw-dropping spectacle, spanning more than half a million square metres, bringing to life the most iconic storylines, moments, and characters across all sagas. Inspired by the 7 legendary Dragon Balls, visitors can navigate 7 distinctively themed zones within the park, catapulting guests into the heart of the anime action to experience the historic journey from the first Dragon Ball series to the latest Dragon Ball Super. The anime theme park offers over 30 rides with five groundbreaking attractions, accessible to everyone, pushing the boundaries of ride experiences. A flagship attraction located at the centre of the park has a rollercoaster passing through a massive 70 m Shenron landmark. Park-goers can embark on a journey and immerse themselves in interactive and explorable landmarks from the Dragon Ball sagas, such as 'Kame House', 'Capsule Corporation' and 'Beerus' Planet'. Visitors will also have the option to stay at themed in-park hotels and build long-lasting memories with family and friends while indulging in exotic cuisines inside towering structures, where one day can never be enough. The partnership aims to preserve and elevate the franchise, with a shared vision to fulfill visitor’s dreams of bringing Dragon Ball to the real world and will pave the way for Qiddiya and Toei Animation to broaden their existing collaboration. Dragon Ball theme park will further cement Qiddiya City's position as the worldwide capital of play. The play concept leverages decades of research showing that play is vital for human cognitive development, emotional expression, social skills, creativity, and physical health.

25 March, 2024

EPC contract to be awarded for water network project in Saudi Arabia

Saudi's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its $80 million North & East Medina Water lines and Networks project in Medina by the third quarter of 2024. The tender for the EPC contract was floated on 10 March 2024 with the bid submission scheduled on 18 April 2024. The contract is expected to be awarded by early third quarter 2024. The project's scope of work involves the construction and implementing a water network in three neighbourhoods north and east of Medina, namely Al-Shafiya - Al-Ghaba - Katana using high-density polyethylene (HDPE) pipes with diameters of 110-400mm and total length of 95,110 metres. The overall project completion and commissioning scheduled for the first quarter 2026.

25 March, 2024

Agreement signed to build new air cargo terminal in Saudi Arabia

SAL Saudi Logistics Services Company has leased a land plot at Prince Mohammed bin Abdulaziz International Airport in Madinah to construct and develop a new air cargo terminal. The agreement was signed with Taiba Airports Operation Company. The 16-year lease is for a land plot measuring 3,500 square metres (sqm) plus 4,000sqm for three years for expansion. SAL is expected to invest 12 million Saudi riyals ($3.2 million) in developing the new terminal.

25 March, 2024

Bids invited for construction of new mall in Saudi Arabia

Saudi Arabia has unveiled an investment opportunity for the construction of a shopping mall in the Western Medina city. The project includes the 'construction, operation and maintenance' of a mall, with an area of 4,035 square metres. Bids must be submitted before May 28, 2024 for the 25-year contract.

22 March, 2024

$187m contract announced to establish district cooling plant in Saudi Arabia

Saudi-based The Diriyah Company has announced a groundbreaking infrastructure agreement with City Cool Cooling Company that will see the development of a district cooling plant and associated distribution network with the ability to deliver a maximum cooling power of 72,500 Tons of Refrigeration (TR). As per the SAR700 million ($187 million) contract, City Cool will deploy the district cooling plant with an impressive energy efficiency rating of 0.7 KW/TR. The chilled water will supply the cooling demand of all non-residential assets within the first phase of the Diriyah project. The partnership marks a significant milestone for Diriyah Company's strategic investment and partnership efforts. The development agreement comes following a 25-year Build, Own, Operate, and Transfer (BOOT) structure, with the completed infrastructure to be transferred to Diriyah Company after the duration. The project solidifies Diriyah Company's commitment as a dynamic mixed-use developer that is redefining urban planning to transform Diriyah into a thriving capital of culture, entertainment, education, and the arts.

21 March, 2024

Tenders to be awarded soon for sewage treatment project in Saudi Arabia

Saudi's National Water Company (NWC) is expected to award the design and construction contract for its Sewage Treatment Plant, Sewage Networks, and Overflow Lines project in Al-Harida Centre, Rijal Almaa province in Asir region by the third quarter of 2024. The tender for the design and construction contract was floated on 10 March 2024 with bid submission deadline scheduled of 15 April 2024. The contract is expected to be awarded by early third quarter of 2024. The project's scope of work also includes designing the sewage system for the entire geographical area associated with the sewage treatment plant with its full nominal capacity of 6,000 cubic metres per day, sewage networks and pumping stations. The overall project completion and commissioning scheduled for the second quarter of 2026. The estimate of the project cost is $50 million.

20 March, 2024

SAR 3.2M hospital expansion underway in Saudi Arabia

Al-Modawat Specialized Medical Co. has started the hospital building expansion project, due to the high occupancy rates. The estimated value of the project is SAR 3.2 million. The duration is 10 months starting from March 17, 2024. The expansion is considered one of the company's strategic and most important expansion initiatives for 2024. The implementation of the project will be in three phases, with the first and second phases are expected to be completed in October 2024, and the third phase by the end of December 2024. The trial operation of the first and second phases are to begin in November 2024, and the third phase in January 2025. The financial impact of the project is expected to begin in the first quarter of 2025 by a rise in revenue. The company's engineering department is the implementing agency for the project.

20 March, 2024

Restoration and regeneration work for three historic hotels launched in Saudi Arabia

Jeddah Historic District launches the restoration and regeneration of three historic properties in Al Balad into luxury hotels, an area of great historical and cultural significance on the West Coast of the Kingdom of Saudi Arabia, with UNESCO heritage protection. The hotels are part of Jeddah Historic District, a programme which has paved the way in the regeneration of the old town of Al Balad. Named House of Jokhdar, Kedwan and Al Rayess, each hotel has been carefully reinvigorated with the work of historians and the knowledge of locals, utilising local artists, carpenters and architects as well as locally sourced products. The three properties thoughtfully reflect their original layout and design whilst offering luxurious and effortlessly chic modernity. The properties are part of a wider restoration of a collection of heritage properties and represent the first 17 keys to open of a further 165 keys that will belong to 34 heritage properties that will open by 2027.

19 March, 2024

Plans underway to develop $47mln logistics zone in Saudi Arabia

The Saudi Ports Authority (Mawani) has signed an agreement with MEDLOG, the logistics arm of the Swiss-based Mediterranean Shipping Company (MSC), to develop a logistics zone at Jeddah Islamic Port at the cost of 175 million Saudi riyals ($46.66 million). The logistics zone will cover an area of 100,000 square metres and improve operational efficiency in line with the objectives of the national transport and logistics strategy. The deal will help the Saudi ports operator to meet its goals of increasing the number of national logistics zones to 30 and increasing the Kingdom's logistics performance index ranking to 4.01 by 2030. The zone will create 400 direct and indirect job opportunities for Saudi nationals.

19 March, 2024

Deal inked to establish manufacturing complex in Saudi Arabia

Alujain Corporation has signed a memorandum of understanding with Samvardhana Motherson International Limited to partner in a manufacturing complex. The industrial complex manufactures specialised engineering and plastic compounds, according to a bourse filing. The project aligns with efforts to localise specialised plastic compound industries, supporting spare parts, automotive, and other specialised manufacturing sectors following the objectives of Saudi Arabia Vision 2030. The MoU reinforces Alujain's expansion into engineering plastics production for automotive and specialised industries, aiming to boost local content, global competitiveness, and sustainability through strategic partnerships with international firms. The agreement aims to establish a product development and innovation centre with advanced technical capabilities, leveraging government support programmes to maximise benefits for local industrial companies.

19 March, 2024

Contract to be awarded sson for college project in Saudi Arabia

Saudi Arabia's Ministry of Education and Shaqra University in Riyadh Province is expected to award the main construction contract for the first phase of its College of Arts and Sciences project by the second quarter of 2024. The tender for the main construction contract was floated on 3 March 2024 and the bid submission is scheduled on 3 April 2024. The contract is expected to be awarded by 5 May 2024. The construction is expected to commence by 2 June 2024. The project is slated for completion by early second quarter of 2025.

15 March, 2024

Consultancy tender is expected to issue for training centers in Saudi Arabia

The Saudi Authority for Industrial Cities and Technology Zones (MODON) and the Ministry of Industry and Mineral Resources are expected to issue design and supervision consultancy tender for their training centres project in the third quarter of 2024. The tender for the design and supervision consultancy contract is expected to floated by mid of third quarter 2024 and the contract is expected to be awarded by fourth quarter 2024. Six training centres located across different industrial cities will be procured under Design-Build-Operate-Manage (DMOM) model. The project is slated for completion by the fourth quarter of 2026, his estimate of the project cost is $80 million.

15 March, 2024

Contract awarded for major onshore gas pipeline project in Saudi Arabia

Larsen & Toubro (L&T)  announced that, the Hydrocarbon vertical (L&T Energy Hydrocarbon – LTEH) has recently secured a major onshore gas pipeline project from a prestigious client in the Middle East. The scope of work comprises engineering, procurement, and construction of two new 56″ Pipelines along with associated scraper receivers and launchers and main line isolation valve (MLIV) Stations running parallel to the existing pipeline corridor.

13 February, 2024

New urban development project unveiled in Saudi Arabia

New Murabba Development Co. is set to showcase its latest project, Mukaab, as part of New Murabba Modern Downtown, an urban development in Riyadh. Mukaab is planned to incorporate the latest technology and will be among the largest built structures globally, standing at 400 meters in height, width, and length. The development has already excavated over 4 million cubic meters of material. New Murabba is set to provide more than 27 million sq. m. of floor area, including 119,000 residential units, 9,000 hotel rooms, and 980,000 sq. m. of retail space. Additionally, the project will feature 1.4 million sq. m. of office space, 620,000 sq. m. of leisure assets, and 1.8 million sq. m. of community facilities. Investors are invited to be part of this groundbreaking destination, shaping the future of a dynamic metropolis and contributing to the Kingdom's ambitious diversification goals.
The development is poised to attract substantial foreign investment, inject approximately $50 billion into the non-oil economy, and generate 334,000 direct and indirect jobs by 2030. The company aims to create the world's most transformative and modern city center, serving as a blueprint for future urban initiatives.

8 March, 2024

SAR 169.4 contract awarded for basic and downstream industries project in Saudi Arabia

Ladun Investment Co. Announces that one of its subsidiaries 'Built Industrial Company' has signs the Project with Jazan City for Basic and Downstream Industries -Royal Commission for Jubail & Yanbu. The Value of the contract is SAR 169.4 million. Project Scope of Works includes establishing of prefabricated buildings for industries, which includes comprehensive development of a land area estimated at 154,490 square meters in Jazan City for Basic and Transformative Industries, affiliated with the Royal Commission for Jubail and Yanbu in Jazan, through a supply and implementation contract (PC) to create 38 ready-to-use buildings of different types, in addition to a number of two headquarters for security guards with an area Approximate building area of 38,756 square metres. The contract work also includes work on preparing the site, excavation and backfilling, paving and leveling, roads and parking lots, road planning, directional signs, side sidewalks, lighting, landscaping, and all services. The duration of the contract is 730 days.

5 March, 2024

New residential development project launched in Saudi Arabia

Roshn has launched the fourth phase of its flagship project, 'Sedra,' in capital Riyadh. Unveiling the new phase, it is set to introduce 4,860 residential units to the development, spread over a sprawling 1.9 million sq m area, interspersed with attractive public spaces which account for 30% of the phase's footprint. SEDRA's latest phase offers a variety of home typologies, with 10 floorplans and 2 facades to choose from, and a focus on units with three-, four- and five-bedrooms that cater to all family demographics. 
All of them are designed to honour traditional architectural forms of the region while incorporating cutting-edge materials, engineering, and technology, preserving the Kingdom's heritage while offering customers all the benefits of modernity. Sedra's latest phase includes a rich array of amenities designed to support healthy and fulfilling lifestyles, including an expansive Sports for All Federation Dome, the largest in the kingdom, shaded footpaths, green spaces as well as  neighbourhood retail centres and mosques. Strategically located north of the third phase, Sedra 4 is near to several important landmarks, including Princess Nourah University, Imam Mohammed Ibn Saud University, King Khalid International Airport, and the SAR railway station. SEDRA 4 will be accessible directly via Airport Road, with Metro Stations F2 and A7 nearby. Once completed, this phase is projected to achieve a Mostadam gold rating, a green building rating system developed by the Saudi Ministry of Housing and administered by Sustainable Building.

4 March, 2024

Deal signed to develop mixed-use project in Saudi Arabia

Azad Properties, Proper Developments, and Hilton have announced the official signing of a transformative real estate collaboration, further contributing to the evolution of Jeddah's thriving real estate landscape. The hospitality-oriented mixed-use development within Souq7, developed by Proper Developments, includes a Hampton by Hilton hotel, retail spaces, and offices. Expected to open in 2026, Hampton by Hilton Souq7 will bring the brand's award-winning thoughtful and friendly hospitality to guests staying in the missed-use community. The 216-key hotel will feature a variety of guest rooms, a fully equipped fitness centre, and two meeting rooms to cater to business travelers, as well as several value-added amenities such as a lobby lounge, contactless arrival, and a complimentary breakfast. The retail built-up area spans 3,900 sq m, offering a diverse array of shopping experiences, while the office spaces encompass 6,800 sq m, catering to the needs of modern businesses.

4 March, 2024

Agreement signed to operate resorts in Saudi Arabia

Dan Company, a subsidiary of Saudi sovereign wealth fund PIF which specialises in the fields of agri-, eco- and adventure tourism, has signed an agreement with global hospitality major Hilton to operate three of its key resorts located in the Al Ahsa region of Saudi Arabia's Eastern Province and Unesco World Heritage site, which is home to Al-Ahsa Oasis - the largest date palm oasis in the world. With lush surroundings and homegrown farms at its doorstep, the 1.8 million sq m master development aims to create a premium farm-based tourism destination in the heart of Al Ahsa, thus attracting visitors looking to connect with nature and enjoy a diverse range of experiences in the significant agricultural region. The agreement for the resorts - Al Ahsa Agritourism Resort, LXR Hotels & Resorts; Al Ahsa Eco Resort, Curio Collection by Hilton; and Al Ahsa Adventure Resort, Curio Collection by Hilton - was sealed by the visiting global Hilton leaders with Dan Company during their recent visit to the kingdom. 
The resorts will be easily accessible via main roads, with Riyadh, Dammam, Khobar, Jubail, Bahrain, and Qatar within a one-and-a-half to three-and-a-half-hour drive away. The signing of these three hotels further expands its footprint in Saudi Arabia, where the group plans to quadruple its portfolio. Each resort will have a distinct offering, from luxury at the LXR Hotels & Resorts Agritourism Resort, wellness and wellbeing at the Curio Collection by Hilton Eco Resort, and outdoor adventure at the Curio Collection by Hilton Adventure Resort. A central activation area will also be available to guests and the public, which will include a nature garden, an amphitheater, dining and retail options, a farmers' market, and other multi-purpose spaces for local agricultural vendors and retailers to exhibit.

4 March, 2024

$159mln EPC contracts signed for gas pipeline projects in Saudi Arabia

Saudi-listed Gas Arabian Services Company (GAS) has signed two engineering, procurement and construction (EPC) contracts worth 598.01 million Saudi riyals ($159.46 million) with state-owned Saudi Power Procurement Company (SPPC) for gas pipelines. The first EPC contract for the Qassim pipeline is valued at SAR341.90 million, while the Taibah pipeline contract is worth SAR256.10 million. The duration for each contract is 22 months.

1 March, 2024

Construction work to commence soon on $19mln wastewater treatment project in Saudi Arabia

Saudi-listed Nama Chemicals Company is implementing a wastewater treatment project finalised in 2022 for treating wastewater fro9m its calcium chloride and epoxy resin plant. The project was delayed due to difficulties in securing the necessary financing. An amended contract, leading to a 26 percent rise in contract value to SAR 71.24 million ($19 million), has been signed to provide funding for the treatment units for over five years. Work on the project is expected to start on 10 March 2024, and end on 10 August 2025. Trial production will run for two months. The project will be implemented under a lease-to-own arrangement wherein project cost will be paid by Nama Chemicals as rental payments for five years, and at the end of that period, they will become the owners of the treatment units.

1 March, 2024

Contract for MEP works awarded for headquarters project in Saudi Arabia

Hassan Allam Holding announces that its subsidiary Kortech has been awarded the complete Mechanical and Electrical works for the head quarters of one of the top developers in the Kingdom of Saudi Arabia within the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. Kortech's extensive scope of works for the new offices in the iconic Tadawul Tower which spans the 23rd to the 30th floor, encompasses electrical works, fire fighting systems, plumbing works, HVAC systems, ELV ICT and communication solutions, data centers, broadcast systems, 4K video walls, contributing to a total approximate built-up area of 21,000 m2.

26 February, 2024

Two new specialized day surgery centers to be launched in Saudi Arabia

Burjeel Holdings PLC, a leading super-specialty healthcare provider announced, its intention to launch the Group's first two Specialized Day Surgery Centers in Riyadh by 2025. The centers will provide sophisticated minimally invasive comprehensive services constituting key specialties, including Oncology, Advanced Gynecology, Orthopedics and Neurology. The Group plans to introduce internationally affiliated centers to the Kingdom to ensure its customers gain access to the best services, including the most advanced robotics solutions for patient care. Burjeel's Specialized Day Surgery Centers will be wholly owned and operated by Burjeel Holdings. It will provide a specialized service offering in the Kingdom, a market with significant growth expectations and strong demand for tailored healthcare services.

26 February, 2024

SAR 60.6 million land lease contract signed for two sports clubs development in Saudi Arabia

Armah Sports Co. signed a land lease contract with Ahmed Al Dahash in Al Munsiyah district, in Riyadh, to establish and operate a men and women's sports club under its B-Fit brand. The rental value of the land is SAR 3.03 million with a total contract value of SAR 60.6 million. The company will rent the 6,200 square meter (sqm) land plot for 21.5 years, beginning on the date of signing the contract and including a year and a half grace period with no leasing value.

26 February, 2024

Two agreements worth SAR21 million signed for new hospital project in Saudi Arabia

Dallah Healthcare Co. and Fitaihi Holding Group announced that their associate, International Medical Center Co. (IMC), signed design and project management agreements with specialized consulting firms to establish a new integrated various specialties hospital at a total value of SAR 21 million. The new hospital will be built on land owned by the International Medical Center in North Obhur, Jeddah, spanning 20,800 square meters (sqm). The first agreement was signed with Dar Al-Handasah Co. for hospital design with an eight-month term, and the second with Midrar Development Management Co. Ltd. for project management with a 31-month term. The foundation stone for this new hospital will be laid after getting the necessary official approvals. Dallah owns 27.18% of IMC, while Fitaihi Group owns 19.25%. IMC owns the International Medical Center Hospital on Hail Street in Jeddah, which has a total area of 20,237 sqm and a capacity of 300 beds in various specialties.

23 February, 2024

$76mln operations & maintenance contracts awarded for water projects in Saudi Arabia

Alkhorayef Water and Power Technologies Company has signed three operations and maintenance (O&M) contracts worth 285.33 million Saudi riyals ($76.09 million) with state-owned National Water Company. The first contract, worth SAR 102.19 million, covers the operation and maintenance of Makkah's environmental services networks for 60 months. The second contract, valued at SAR 112.60 million, entails operating and maintaining Dammam's water and wastewater network for 36 months. The third contract, worth SAR 70.54 million, will see the company operate and maintain water and sewage water networks for 36 months in the Taif region.

23 February, 2024

Plans underway to launch luxury hotel in Saudi Arabia

Riyadh is set to welcome a new 280-key luxury hotel following an agreement signed by Saudi Real Estate Co., also known as Al Akaria. The deal with Marriott International will introduce the Autograph Collection brand to the Saudi capital, paving the way for the opening of the new hotel. Scheduled to commence construction in 2025, the hotel is anticipated to welcome visitors by 2028 upon its completion. The deal reflects Al Akaria's commitment to promoting tourism and hospitality in Riyadh, aligning with the goals of the Kingdom's Vision 2030 to create appealing destinations for residents and visitors. The new hotel will contribute to the development of a mixed-use destination, featuring commercial facilities, restaurants, and entertainment areas.

22 February, 2024

$76 million operation & maintenance contracts signed in Saudi Arabia

Alkhorayef Water and Power Technologies Co., Saudi Arabia announced the signing of Operation and maintenance Contracts in Makkah, Taif and Dammam cities. The cobmined value of the contracts is SAR 285.3 million. The contracts was awarded by National Water Company, Saudi Arabia. In Makkah City, the works related to the Operation and maintenance of Environmental Services for a duration of 60 months. In Dammam City, the works related to the Operation and maintenance of Water and Wastewater for a duration of 36 months. In Taif City, the works related to the Operation and maintenance of water and sewage water networks for a duration of 36 months.

22 February, 2024

New research and development unit to be built in Saudi Arabia

Alat, an innovative company powered by Saudi wealth fund PIF, has announced a major collaboration with US-based Carrier, a global leader in intelligent climate and energy solutions, to develop a cutting-edge manufacturing and research and development (R&D) facility in the kingdom aimed at decarbonising emissions in buildings, and dramatically increasing their energy efficiency. The duo will deliver advanced heating, ventilation and air conditioning (HVAC) solutions which includes high-tech Heating Ventilation Air Conditioning Systems (HVAC) and products like VRF (Variable Refrigerant Flow), chillers, and Air Handling Units (AHUs). Through these tieups, Alat aims to deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon zero manufacturing.

21 February, 2024

Agreements signed to develop residential units in Saudi Arabia

National Housing Co. (NHC) signed six agreements with real estate developers at a total value of more than SAR 2 billion to develop and build over 3,800 residential units. The agreements were signed on the sidelines of the Restatex Riyadh Real Estate Exhibition, in partnership with real estate companies such as Ratal Urban Development Co., Faisal Abdullah Bin Saedan Real Estate Investment and Development Co., Mohammad Al-Habib Real Estate Co., Masaken Real Estate Co., Shugan Construction Co., and Ishraqat Al-Tamaiuz for Real Estate Development Co. NHC launched sales in three projects within Al-Assalah Community. The first project, Nesaj Al Asala, spans a total area of 93,000 square meters (sqm), providing 366 under-construction residential units of the villa type in partnership with Ratal. The second project, Malify Asalah, covers an area exceeding 45,000 sqm, offering 166 under-construction residential units of the villa type, in partnership with Faisal Abdullah Bin Saedan Real Estate. The third project, Ishraqat Al-Assalah, provides 89 villa-type residential units, spanning an area of over 28,000 sqm, in partnership with Ishraqat Al-Tamaiuz.

21 February, 2024

Plans underway to launch specialized day surgery centers in Saudi Arabia

Burjeel Holding PLC plans to launch two new specialized day surgery centers in Riyadh by 2025. The centers will provide sophisticated minimally invasive comprehensive services constituting key specialties, including oncology, advanced gynecology, orthopedics and neurology. The healthcare provider also plans to launch two international affiliated centers in the Kingdom. The two new centers are projected to generate annual revenue of at least SAR 150-200 million once fully ramped up.

21 February, 2024

New top-class logistics park to be built in Saudi Arabia

Arcapita Group Holdings Limited, the global alternative asset manager based in Bahrd , has announced a strategic collaboration with Rikaz, a prominent large-scale real estate developer in Saudi Arabia, for the development of a top-class logistics park - The Node - in capital Riyadh, which is designed to meet the specifications of prominent international and regional tenants. The Node is a 3-million-sq-m development that is poised to become Riyadh's premier logistics hub. The first phase of the project will cover an area of approximately 400,000 sq m that will house 'grade A' warehousing facilities, developed as per global standards by Arcapita and Rikaz for a variety of commercial tenants. Strategically located in eastern Riyadh, the project will have easy access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, thereby serving as a strong node for tenants to service customers in Riyadh, across the kingdom.

21 February, 2024

Expression of Interest invited for highway project in Saudi Arabia

The Roads General Authority (RGA) in collaboration with the National Center for Privatization & PPP (NCP) and Aseer Development Authority, announced the launch of the Expression of Interest (EOI) phase for the Aseer - Jazan highway project. The tender aims to attract best in class road works companies to assure the project delivers the highest level of efficiency, service and traffic safety. The length of the highway is 136 km (3 lanes in each direction) and its spans from Al Farah area in Aseer region to the Red Sea through Jazan region. It consists of 6 intersections, 57 bridges with total lengths 18 km, 11 tunnels with total lengths 9.2 km. The contract type is DBFOM and duration of the contract is 30 years. Interested bidders need to submit the EOI by 19 March, 2024.

20 February, 2024

SAR 26.3M contract inked to establish feed production plant in Saudi Arabia

Balady Poultry Trading Co. (Balady Poultry) signed a contract with China-based FAMSUN Group Co. Ltd. on 19 February, 2024 to establish a feed production plant, which will include three poultry feed production lines, at a total cost of $7 million or SAR 26.3 million. The contract term is 508 days. The new plant will have a capacity of 60 tons per hour, and will consist of corn storage silos in Khamis Mushait, at Wadi bin Hashbel City. The contract aims to enhance the company's self-sufficiency in terms of the production of poultry feed and reduce costs with the continuity of the supply of feed to the company's farms and ensure the quality of feed.

20 February, 2024

JV formed to establish power transformers manufacturing company in Saudi Arabia

Oman-based Voltamp Energy Company, has signed a joint venture (JV) agreement with Saudi-based Al Sharif Holding Group to establish a new company for manufacturing high-voltage power transformers in Saudi Arabia. Voltamp Energy's new JV plant in Saudi Arabia will be established with an investment of RO9.5mn and will manufacture high-voltage 132kV class power transformers.
The construction work for the transformer manufacturing facility began immediately after signing the joint venture agreement. Production is expected to begin at the beginning of 2026. Any developments or other information about this project will be disclosed in the future.

20 February, 2024

New headquarter opening announced in UAE

Mered, an international real estate developer, has announced the opening of its new HQ in the heart of Dubai Internet City. It boasts a design concept by Pininfarina that blends the natural world with the sophistication of the Italian architecture and craftsmanship. The office showcases how the brand is set to redefine the essence of real estate development in the most captivating way. The sales area radiates sophistication and elegance in every detail. From the sculptural counter to the use of natural and artificial lighting that gracefully guides visitors through the space, each feature is meticulously chosen. The lobby, divided by stylish bronze glass partitions, creates a seamless connection with the behind-the-scenes sales area. Pininfarina's influence is evident in every facet of its office, with each element reflecting its values of purity, elegance, and innovation.

19 February, 2024

Cornerstone laid for new logistics centre in Saudi Arabia

National Shipping Company of Saudi Arabia (Bahri) has laid the cornerstone for a new logistics centre at Jeddah Islamic Port. This state-of-the-art facility, which will cover a total area of 95,436 sq m, will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas, handling services, and other value-added services, with the aim of enhancing logistics capabilities and supply chain in the Kingdom of Saudi Arabia, enabling multinational companies to establish their logistics hubs in the Center. The new Jeddah logistics facility will be equipped to store reefer, insulated, and dry containers. It will also provide a wide range of services to its customers, such as container maintenance, repair, and cleaning, bonded storage, and haulage. The facility is expected to be operational in the first half of 2025.

13 February, 2024

Electricity interconnection project to be implemented in Saudi Arabia

Greece's Independent Power Transmission Operator (IPTO) and Saudi Arabia's National Grid SA have signed an agreement to study the implementation of the Greece-Saudi Arabia electricity interconnection project. The two sides agreed to establish a special purpose company 'Saudi Greek Interconnection' for conducting the feasibility study. This project will enable the more effective use of renewable energy, access to sustainable electricity generation and improved security of electricity supplies.

12 February, 2024

110 projects to be launched in between 2024 and 2026 in Saudi Arabia

Saudi Aramco is planning to carry out 110 projects during 2024-2026 as it is pushing ahead with capacity expansions and other development plans. The projects include 67 in oil, gas and petrochemicals, 20 in pipelines and 23 infrastructure projects.

9 February, 2024

New 380kV substation project contract awarded in Saudi Arabia

Larsen & Toubro (L&T), the Power Transmission & Distribution (PT&D) business has won multiple orders in the Middle East. In Saudi Arabia, an order has been received for turnkey construction of a 380kV Substation. The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait and Saudi Arabia. In an ongoing 220kV Power Supply Project in the UAE, an additional order has been secured.

8 February, 2024

$226.6 million land rig contracts awarded in Saudi Arabia

Arabian Drilling Company, Saudi Arabia, announces multiple contracts awards from Aramco for three additional Land Rigs. The contracts' firm terms durations are five years with estimated aggregate contracts value up to eight hundred and fifty (850) Million Saudi Riyals. These 3 contract awards are for additional land rigs assigned to Aramco's Unconventional Program. The three land rigs are to be added to the Company's current land rig fleet of 48 units, representing a land rig fleet increase of 6.25%.

8 February, 2024

Contracts awarded for major power projects in Saudi Arabia

Larsen & Toubro (L&T) has announced that one of its key subsidiaries - Power Transmission & Distribution (PT&D) - has secured large multiple orders - valued in the range of Rs25 billion to Rs50 billion ($301 million to $602 million) - from its prime GCC markets. Its biggest order in the region came from the Kingdom of Saudi Arabia for the turnkey construction of a 380kV substation. The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait as well in the kingdom. In an ongoing 220kV power supply project in the UAE, an additional order has been secured.
The first was an order from the UAE for providing engineering, procurement, construction, installation (EPCI), testing and commissioning services for a 400/132kV substation, while the second one was from Kuwait for an order to establish 400kV overhead transmission lines along with associated 400kV underground cable interconnections. L&T also also bagged another major order from Saudi Arabia to provide turnkey EPC services for setting up renewable energy, power utilities and water systems for Saudi Arabia's ultra-luxury tourism destination, Amaala, in the Red Sea region.

6 February, 2024

250k new hotel rooms planned to be built in Saudi Arabia

Saudi Arabia plans to add 250,000 hotel rooms by 2030, with the private sector signing contracts to build 75,000 of them. The target for 2030 is approximately 550,000 hotel rooms. And approximately 12 resorts on the Red Sea will open within a year and a half.

6 February, 2024

Contract awarded for two water treatment plant development in Saudi Arabia

Alkhorayef Water and Power Technologies Co., Saudi Arabia announces the awarding of Contract for Operating and maintaining of first water treatment plant in Buraidah and Operating and maintaining of fourth water treatment plant in Riyadh Al-Khubara, awarded by Saline Water Conversion Corporation (SWCC). The value of the contract is SAR 82 million. As part of the contract, the company will perform the works related to Operating and maintaining of these two plants for 24 months.

6 February, 2024

New cycling track project launched in Saudi Arabia

The Sports Boulevard has officially unveiled an immersive cycling experience, Riyde, through a partnership with the global technology company BKool. Visitors will get to experience a virtual 5.24-km route, equivalent to 10-15 minutes of cycling, tailored to different fitness levels. Additionally, they will be able to use virtual reality technology to explore the transformative vision of Riyadh through the completed Sports Boulevard. This collaboration, combining the expertise of a pioneering virtual cycling simulator with the innovative vision of the Sports Boulevard, is aimed at boosting fitness levels in Riyadh.
Riyde will utilise cutting-edge technology to create a virtual cycling experience. Residents will get to ride virtual routes, compete against each other, and enjoy an immersive cycling booth equipped with world-class hardware, thanks to the partnership with BKool. The Riyde booth, operational for an initial two-week period at public locations, provides an indoor, air-conditioned setting for friends, family, and colleagues to socialize, exercise, and compete. The immersive Riyde experience was a fantastic way for the Sports Boulevard to provide residents with cycling facilities and to boost sports participation while we are building Sports Boulevard's city-wide infrastructure. The endeavour includes over 4.4 million sq m of greenery, open spaces, and up to 50 multidisciplinary sports facilities.

30 January, 2024

SAR 48 million contract inked for construction of 4 residential buildings in Saudi Arabia

Retal Urban Development Co. signed a contract worth SAR 48 million, with Building Construction Co., one of its subsidiaries on 28 January 2024. The contract duration is 20 months from the agreement date. The project entails the development of four residential buildings in Al Sadafah district, Al-Khobar.

30 January, 2024

New clean tech research facility to be established in Saudi Arabia

The King Abdulaziz City for Science and Technology and ACWA Power have signed a deal to establish a research center for clean energy and desalination technologies. The research facility will focus on conducting scientific studies in key areas within the clean energy and water sectors. Among its primary objectives are the development of solar energy technologies, developments supporting photovoltaic power stations under harsh climatic conditions, energy storage applications for future energy networks, and innovative materials for desalination membranes. The center aims to leverage artificial intelligence and advanced digital technologies to enhance research outcomes and fulfill its goals. Additionally, the hub is set to bolster ACWA Power's presence in the National Laboratories Complex and Innovation Oases, fostering a culture of collaboration and innovation between the academic community and the business sector.

30 January, 2024

$43.5 million cable contract awarded in Saudi Arabia

Riyadh Cables Group, Saudi Arabia announced that the company entered a supply contract with Larsen & Toubro, where Riyadh Cables Group will be responsible for the Manufacture, Supply and Supervision of a High Voltage Alternating Current (HVAC) cable system totaling 260Km as part of Phase 6 of Mohammed Ben Rashid Solar project (MBR-6). The contract is worth approximately 160 Million AED and it will be delivered by first quarter of 2025. Phase 6 of Mohammed Ben Rashid Solar project (MBR-6) will increase the park’s total renewable energy production capacity to 4,660MW making it one of the largest renewable energy projects in the world.

30 January, 2024

Contract award is expected for water network project in Saudi Arabia

Saudi's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its $150 million Water Network in Hail governorate and Villages (Contract No. 3 and 4) by the second quarter of 2024. The request for qualification (RFQ) for the EPC contract was issued on 15 January 2024 and the bid submission is scheduled on 29 February 2024. The contract is expected to be awarded by early May 2024.
The scope of Contract 3 includes delivery and completion of water services to governorates, centres, and villages of the Hail region, namely Al Shannan Governorate, Al Ajfar Centre, and Faid Centre. The works include water networks with diameters starting from 110mm to 315mm in total and lengths of up to approximately 134km. The scope of Contract 4 includes delivery and completion of water services in the Baqaa Governorate and the Al Hafeer Centre. The works include water networks with diameters starting from 110mm to 200mm with total lengths approximately 168km with associated works. The project, with an estimated value of $150 million, is expected to be completed by the first quarter of 2026.

29 January, 2024

$167.4 million expansion contract awarded in Saudi Arabia

Ladun Investment Co., Saudi Arabia announced that one of its subsidiaries 'Built Industrial Company' has awarded the Contract by Ministry of Municipal Rural Affairs and Housing. The value of the contract is SAR 628.09 million. The project is relatred to Expansion of the current headquarters of the Ministry of Municipal and Rural Affairs and Housing. This expansion is located within the premises of the Ministry's headquarters, located in Riyadh. The project includes all construction and architectural works, electrical and mechanical systems for buildings A and B, and coordination of the general site according to the project documents, including plans, specifications and tables of quantities.

29 January, 2024

New opera house to be established in Saudi Arabia

The Royal Commission for Riyadh City, in cooperation with Diriyah Company, has announced the establishment of the Royal Diriyah Opera House in Diriyah. The Royal Diriyah Opera House embodies the ambitious national aspirations for the Kingdom's capital Riyadh to be a leading global and innovative city in cultural and architectural fields in line with the objectives of Saudi Vision 2030. The project will have a distinguished infrastructure, extend over an area of 45,000 square meters, and will be located near the UNESCO World Heritage Site of At-Turaif in the city of Riyadh. The Royal Diriyah Opera House will be a global platform and will attract talent and leading companies from around the world in the fields of performing arts, music and opera, providing visitors and residents with exceptional cultural and entertainment experiences. The project is part of RCRC's endeavor to enrich the cultural scene in the capital, by providing world-class live entertainment options to the Kingdom's residents and visitors, in line with the objectives of the Saudi Vision 2030.

29 January, 2024

Partnership agreement signed to build indoor karting in Saudi Arabia

Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF) announced a new partnership with Formula E to build the world's first Formula E branded indoor karting attraction across multiple SEVEN entertainment destinations across Saudi Arabia. The announcement was made from the site of the Diriyah E-Prix where the ABB FIA Formula E World Championship double-header of races will take place on the spectacular illuminated race track. The Formula E Karting attractions are set to be built at four of SEVEN entertainment destinations located in Riyadh, Jeddah, Dammam and Abha. Each attraction will offer a diverse selection of adult karts, junior karts, and dual karts, ensuring fun and safe experiences for the entire family. Boasting tracks exceeding 400 meters in length, the Formula E Karting attractions provide extended straightaways for accelerated speed, delivering an unparalleled racing experience for guests.

29 January, 2024

Agreement signed for developing new tech centre for clean energy in Saudi Arabia

Acwa Power, a leading Saudi developer of power and desalination projects, has signed an agreement with King Abdulaziz City for Science and Technology for the establishment of a new clean energy and water desalination technologies development centre within the KACST campus. The new 'Clean Energy and Water Desalination Technologies Development Center' aims to conduct studies and scientific research in vital areas linked to the clean energy and water sector. The key topics of focus include development of solar energy technologies, devices for photovoltaic power plants for extreme climatic conditions as well as energy storage technologies to support future energy networks and innovative technologies and materials for desalination membranes. These are mainly aimed at cutting costs and emissions of desalination processes, as the center will employ artificial intelligence and advanced digital technologies to enable research and achieve goals. The new facility aims to boost the presence of Acwa Power within the complex of national laboratories and innovation oases to contribute to spreading the culture of co-operation and innovation between the academic community and the business sector, and to transfer innovative water desalination technology to various areas of the industrial sector.

25 January, 2024

$400m deal inked to operate a beach resort in Saudi Arabia

Saudi-based Sumou Holding Company has signed a agreement with Spanish hospitality group Melia Hotels International to operate a beach resort within Ajwan mixed-use project in the Eastern Province of Saudi Arabia, being set up at an estimated cost of SAR1.5 billion ($400 million). The initiative, supported by the Saudi Ministry of Tourism, was part of the Real Estate Future Forum activities. The hotel is planned to be established at Ajwan Resort, in the Al Aziziyah area - Half Moon Beach in the Al Khobar city. The agreement represents a significant step towards the development of the Eastern Province as a prominent tourist destination.

25 January, 2024

New housing project comprising 390 villas launched in Saudi Arabia

Saudi Arabia has launched a new housing project that comprises 390 villas and town houses within an ongoing housing drive for citizens. This new project is located in the Western Red Sea port of Jeddah and has an area of around 3.8 million square metres, including a 250-sq-metre green park.

24 January, 2024

Plans underway for $1bn freight line doubling work in Saudi Arabia

Saudi Arabia has given the go-ahead for the doubling of the freight line of North Train network (formerly referred to as the North-South Railway), a 1,550-km-long freight line that extends from the phosphate and bauxite mines in the far north of Saudi Arabia to the Al Baithah junction, at an investment of SR4 billion ($1.07 billion). The project aims to enhance the transportation facilities will strengthen the mining sector in Saudi Arabia.

24 January, 2024

SAR 70.5 Million operation & maintenance water & sewage networks in Saudi Arabia

Alkhorayef Water and Power Technologies Co., announces the awarding of Contract for Operating and maintaining (O&M) water and sewage networks in Taif, Western region of Saudi Arabia. The Project was awarded by National Water Company (NWC). The Value of the contract is SAR 70.5 Million Saudi Riyal. As part of the contract, the company will perform the operation and maintenance works for the water and sewage water networks in Taif.

24 January, 2024

$1.56 billion resort project to be launched in Saudi Arabia

Abu Dhabi-based Eagle Hills plans to launch a resort project in Saudi Arabia in partnership with Public Investment Fund (PIF) at an investment of 6 billion Saudi riyals ($1.56 billion). This new project will be announced in a month, as procedures are being finalised.

23 January, 2024

HVDC converter station to be developed in Saudi Arabia

Alfanar Projects announced in a statement that, Alfanar Projects and the Saudi Authority for Industrial Cities and Technology Zones (MODON) agreed on a strategic agreement to develop an HVDC converter station for Tabuk Industrial City. This collaboration signifies Company's dedication to strengthening and enhancing the Kingdom's grid infrastructure and energy transition.

22 January, 2024

$266m contract awarded for the manufacture and supply of steel pipes in Saudi Arabia

Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth over SAR1 billion ($266.4 million) from Saline Water Conversion Corporation (SWCC) for the manufacture and supply of steel pipes for key projects in the kingdom. Founded in 2010 in Dammam in the kingdom's Eastern Province, East Pipes Integrated Company has now become a major manufacturer of spiral steel pipes. It presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide. The entire contract work will be completed within a 30-month period.

22 January, 2024

License obtained for a new luxury hotel development in Saudi Arabia

Makkah-bound worshippers can expect improved accommodations as Jabal Omar Development Co. has obtained a license for the second tower of its five-star hotel. It has received clearance from the Ministry of Tourism to operate the new extension of Jabal Omar Jumeirah hotels in its Makkah project. The new project comprises 244 luxurious, modern-style rooms and suites. Additionally, it features a restaurant, cafe, meeting halls, business center services as well as prayer zones, and a fitness center. The Jabal Omar Jumeirah development consists of four towers, each with 19 floors, directly adjacent to the Holy Mosque.

22 January, 2024

MoU signed to develop tourist destination in Saudi Arabia

Saudi Tourism Investment Co. has partnered with Al-Ahsa municipality to develop a 500,000 sq. meter area, envisioning a vibrant destination with diverse tourism, entertainment, and hospitality offerings. An affiliate of Saudi Arabia's Public Investment Fund, the firm, known as ASFAR, has taken this step to foster economic development and enhance the region's appeal for both local and international visitors. The partnership underscores ASFAR's commitment to sustainable development, economic growth, and preserving the cultural heritage of cities across the Kingdom.

19 January, 2024

New smart city project plan implemented in Saudi Arabia

Smart city initiatives in Saudi Arabia will be boosted following a partnership deal by the King Abdullah Financial District Development and Management Co. and the Saudi Co. for Artificial Intelligence. The collaboration aims to implement a new project to enhance the district's future operations and serve as a model for similar programs in the Kingdom. It will focus on deploying smart traffic and mobility solutions within the district, attracting hundreds of thousands of urban dwellers seeking an optimal blend of living, work, and play. The project includes the integration of a Mobility-as-a-Service platform, which will utilize user transportation patterns to inform future planning.

18 January, 2024

Technical partnership frame agreement signed for chemicals plant project in Saudi Arabia

EV Metals Group (EVM), a global battery chemicals and technology company with offices in Australia, Saudi Arabia and the UK, has signed a technical partnership frame agreement with Finnish mineral processing technology company Metso for its planned Lithium Chemicals Plant (LCP) project in the Kingdom. Metso will provide technical, operational, maintenance, and systems support for the LCP project to be built in Yanbu Industrial City. The LCP project aims to establish the Kingdom as a significant midstream hub for the production of high purity chemicals required by electric vehicle and battery cell manufacturers.

18 January, 2024

Cement production line upgrade contract awarded in Saudi Arabia

Sinoma announced in a statement that it has awarded Yamama Cement Production Line Upgrade Contract. The contract is for a full-scale upgrade of the cement production line, aiming to increase its daily production capacity to 12,500 tons. This project, building upon the relocation of the existing 10,000TPD cement production line, aims to achieve both technological innovation and capacity enhancement. Sinoma Overseas is entrusted with the comprehensive engineering design, procurement and supply of new equipment, civil construction, as well as the installation and commissioning. This venture goes beyond a mere engineering project. It's a testament to Company's innovative capabilities and project management expertise.

18 January, 2024

Contract signed to build district cooling plant in Saudi Arabia

Knowledge Economic City's (KEC) subsidiary, Makarem Almaarifa Hospitality Ltd., and a consortium of three companies - City Cool, Johnson Controls Arabia (JCA), and ADC Energy Systems signed a contract to build a chilled water district cooling plant in Madinah. The consortium's services would be based on a build, own, operate, and transfer (BOOT) model. The contract includes building a plant of 21,000 tons of refrigeration over two phases at Al Madinah Hub area, Multaka Al Madinah, to provide cooling services to the mall, the Hilton tower, and the branded residence tower. Under the contract, JCA will supply YORK Chillers, ADC Energy Systems will perform the engineering, procurement, and construction of the district cooling plant. Additionally, City Cool will perform the operation, maintenance, and facility management for 25 years from the operating date with the aim of sustainability and energy efficiency as part of the alignment with the objectives of KEC.

17 January, 2024

Worlds largest industrial solar thermal project announced in Saudi Arabia

Saudi Arabian Mining Company (Ma'aden) and US-based industrial solar steam company GlassPoint announced the first phase of project development for the world's largest industrial solar thermal project in Ras al Khair to decarbonise Ma'aden's aluminium supply chain. The first stage, called The Technology Showcase, will combine direct generation of heat and storage to supply 9 tonnes per hour of continuous base load of steam to Ma'aden's Alumina refinery at Ras al Khair. The initial capacity represents about 1 percent of the larger project, which is slated to save more than 12M MMBTUs of energy annually and reduce carbon emissions by 600,000 tonnes per year.