New mountain tourism project launched in Saudi Arabia
Saudi Arabia's Prime Minister launched a masterplan to develop Soudah and parts of Rijal Almaa into Soudah Peaks, a luxury mountain tourism destination. Set 3,015 metres above sea level on the Kingdom's highest peak in the Aseer region, the project is a key part of the Public Investment Fund's (PIF) efforts to diversify the economy by expanding vital industries such as tourism, hospitality, and entertainment, and supporting Aseer development strategy. The masterplan is being designed to reflect the local traditional and architectural styles, and will promote both the cultural and landscape heritage of the region. Soudah Peaks will be a significant addition to the tourism sector in Saudi Arabia and place the Kingdom on the global tourism map, whilst highlighting and celebrating the country's rich culture and heritage. The destination, set across more than 627 square kilometres, will be home to six development zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, and Red Rock. Each will offer a range of facilities, including hotels, luxury mountain resorts, residential chalets, villas, premium mansion sites, entertainment and commercial attractions, as well as outdoor attractions dedicated to sports, adventure, wellness and culture. Soudah Peaks will deliver over 2,700 hotel keys, 1,336 residential units, and 80,000 square metres (sqm) of commercial space by 2033. The masterplan will be developed over three phases, with 940 hotel keys, 391 residential units, and 32,000 sqm of retail space expected to be completed in 2027, within phase one. The project expects to offer high-end luxurious hospitality services to over two million visitors throughout the year by 2033.
Agreements signed to lease space for entertainment concept in Saudi Arabia
Saudi Arabia-based entertainment company Malahi Leisure has taken a significant step forward having signed three pivotal agreements with real estate developers to lease space to operate its leisure concepts. Malahi has struck a deal with Al-Mutlaq Real Estate Investment Company (AREIC) to lease 2,626m2 space at the vibrant Joy Avenue complex in Riyadh, Al-Saadah District. This space, secured on a new 15-year lease, will be the new home for Malahi's '1Noos' children's soft play experience.
Malahi has signed two memorandums of understanding – with Retail Real Estate Co and Emaar The Economic City. These major agreements will see Malahi's self-operated arcade games, powered by cutting-edge technology, making waves across new territories. This will also streamline payment methods directly with the machines, setting a new benchmark in customer experience and seamless gaming.
$40mln logistics complex construction to be commence soon in Saudi Arabia
Sadr Logistics Company's board has approved building a 49 million ($39.72 million) logistics complex in the Industrial Gate City, Riyadh. The Logistics Services Complex Project (Sadr Park) will be developed under the supervision of the Saudi Authority for Industrial Cities and Technology Zones (MODON). Construction will start on 1 October 2023, with completion expected by 31 March 2025. Trial operations will begin for three months from the second quarter of 2025. The park will be financed by self-funding and borrowings. The project will be developed by a group of contractors and suppliers from inside and outside the Kingdom. Names of the contractors were not disclosed. Sadr Park aims to create an integrated logistics services area to provide storage solutions to customers for refrigerated, frozen and dry storage in line with the company's strategy for expansion.
Proposals invited for designing cable-stayed bridge in Saudi Arabia
The Royal Commission for Riyadh City (RCRC) has issued a tender to design and build the Wadi Laban cable-stayed bridge. The project seeks to increase capacity to ease traffic congestion on the Western Ring road, extending from Ibn Hazm Road to Jeddah Road. The work scope also includes the development of the intersection at Jeddah Road.The last date for requesting tender is 1 November 2023, while the deadline for submission is 19 November 2023. The bids will be opened on 19 November at 2 pm.
Agreement signed for developing a real estate project in Saudi Arabia
Sumou Real Estate Company has signed a 30-million Saudi riyal ($8 million) development management agreement with Alinma Ajyad Real Estate Company for Alinma Ajyad Real Estate Fund project in Mecca. The project covers an area of 300,000 square metres. The 24-month contract will be effective from the date of receiving approval from Makkah Municipality to start work. The details of the project were not given.
Bids starts on new mining sites in Saudi Arabia
Saudi Arabia is offering 7 new mining sites in its central region with a good potential for the production of construction materials. The sites are located in Al-Qassim region and have a total area of 32 square kilometres. Interested investors can bid online during September 19-30, 2023, after which bidders will be pre-qualified and the winners are selected. Geological surveys conducted earlier have shown the sites, Northwest of Asyah province in Al-Qassim, are rich in calcium carbonate rocks including limestone and dolomites, which can be used in construction works and road paving.
$90.67m agreement signed to development of a mixed-use tower in Saudi Arabia
Umm Al-Qura for Development & Construction Company signed an acquisition agreement to develop a mixed-use tower (commercial & residential) with Saleh Abdullah Kamel Humanitarian Foundation (SAKHF), a total investment value of 340 million Saudi riyals. The mixed-use tower will include a number of commercial floors with an area of 39,000 square meters, 130 residential units, and 3,000 square meters of commercial space for interested investors and will serve the strategic objectives of Saleh Abdullah Kamel Humanitarian Foundation (SAKHF). The acquisition agreement also intersects with the strategic objectives related to Makkah, and achieving the organization's mission to support original and innovative solutions that contribute to building a productive and interdependent society.
Plans revealed for new desalination plant tendering process in Saudi Arabia
Saudi Arabia Ministry of Environment, Water & Agriculture Sector and Saudi Water Partnership Company (SWPC) is expected to start the tendering process for Al Shuqaiq 4 Independent Water Plant (IWP) project by the first quarter 2024. The Expression of Interest invite is expected to be announced by end of first quarter 2024. The scope of the work involves the construction of 400,000 cubic metres per day desalination plant under a build-own-operate (BOO) contract for 25 years. The overall project completion and commissioning scheduled for the fourth quarter 2026.
MoU signed for the construction of a factory in Saudi Arabia
Knest, India's largest and the world's fastest growing aluminium formwork firm, has signed a deal with ABR Jeddah Contracting Co to set up an aluminium formwork factory in Saudi Arabia. The factory will boost aluminium formwork's supply in Saudi Arabia and other Middle East and North Africa (Mena) countries. Along with the investments, the alliance is set to kickstart knowledge sharing and collaborative growth in the sector. The Memorandum of Understanding (MoU) was signed on the sidelines of the India-Saudi Investment Forum 2023 during the G20 Summit in New Delhi. The MoU has been endorsed by key government and industry partners including Saudi Arabia's Ministry of Investment, India's Ministry of Commerce & Industry & the Federation of Indian Chambers of Commerce & Industry (FICCI).
MoU signed for the construction of smart factory in Saudi Arabia
Saudi Coffee Company announced its collaboration with Siemens, through a memorandum of understanding (MoU) for the construction of a high-tech smart factory in Jazan. The construction will be based on Siemens' electrification, automation, and digitalisation technologies, while considering the highest standards of sustainability and efficiency. Saudi Coffee Company is on a mission to transform Saudi Arabia's coffee industry and present the nation's deep-rooted coffee traditions to the world. The establishment of the smart factory is set to revolutionise coffee farming in Jazan. Currently witnessing the implementation of several development initiatives in modern technology, water management solutions, and advanced equipment, Jazan's farmers will benefit immensely from this collaboration through having visibility and control over all their systems in one integrated platform with high tech. Saudi Coffee Company's vision expands beyond increasing production and job opportunities to include promoting a culture of collaboration and sustainability across the entire coffee value chain.
This collaboration is part of Saudi Coffee Company's initiatives to join forces with the private sector and introduce cutting-edge technology into Saudi Coffee Company's production processes with the smart factory set to revolutionise coffee farming in Jazan. The construction and operation of the factory are in line with the latest global sustainability standards, ensuring a balance between economic growth and environmental sustainability. The complete digitalisation includes unifying various systems under one advanced platform while also introducing initiatives like carbon capture, renewable energy adoption, responsible waste management, and eco-friendly packaging.
MoU signed to launch data centers in Saudi Arabia
Saudi Arabia's ICT service provider Saudi Call and China's Shanghai Lumaotong Group (LMT) and China Mobile International Limited (CMI) have signed a memorandum of understanding to launch data centres in the Kingdom. The parties will cooperate to construct 100 megawatts (MW) Tier III and Tier IV Saudi Call Crownland data centres in Riyadh, Jeddah, Dammam, and NEOM. The move will help meet the needs of information and data services from emerging industry sectors and Saudi enterprises, supporting the region's Belt and Road Initiative (BRI) projects.
Agreement signed for boosting green energy collaboration in Saudi Arabia
In a significant move for the global green energy landscape, Saudi Arabia's ACWA Power has signed memorandums of understanding with two major Chinese firms. These agreements encompass green hydrogen and ammonia production, as well as global renewable energy initiatives and integrated smart energy solutions. The MOUs were formalized with China Southern Power Grid International Co., a state-owned entity, and MingYang Smart Energy Group, a clean energy integrated solutions provider. The signings took place during the China–Saudi Arabia Economic and Trade Cooperation Conference held in Riyadh.
Development of new mountain tourism projects in Saudi Arabia
Saudi Tourism Investment Company (Asfar), a key entity of the kingdom's sovereign wealth fund PIF, has signed an agreement with the Municipality of Al-Baha to develop tourism projects in the region. With a focus on the retail and hospitality sectors, the MoU is aligned with the goals of the Saudi Vision 2030 to diversify sources of economic income, attract local and foreign investments, and create more job opportunities for Saudi youth. The region has great potential, is rich in wonderful vistas, has a charming locale and many archaeological sites, some of which have been nominated to be listed among the Unesco World Heritage Sites.
Plans underway for developing a resort in Saudi Arabia
Tourism and hospitality in Alkhobar will soon receive a significant boost with a government fund planning to finance and develop the Ritz-Carlton property in the city. Saudi Arabia's Tourism Development Fund has partnered with Riyadh-based RC Beach Real Estate Fund to finance and develop the Ritz-Carlton Khobar, the first beach resort in the city. The other parties involved in the deal include Al Fozan Holding, Mansour Bin Jumah & Sons Holding Co., and Bank AlJazira. The agreement aligns with TDF's mission to facilitate private sector investments in promising tourism ventures, furthering the objectives of the National Tourism Strategy and contributing to the Kingdom's economic growth. The fund's strategy stands as one of the primary drivers of the Kingdom's tourism sector. TDF has played a pivotal role in transforming the agreement into a reality, forging a partnership with the real estate developer, Retal Urban Development Co. Situated along the Arabian Gulf coast, the development of the Ritz-Carlton resort is expected to make a substantial contribution to the growth of the hospitality industry in Alkhobar. The resort is expected to offer luxurious accommodations, comprising 130 rooms and suites, along with 48 chalets, spanning a total area of around 99,917 sq. meters. In addition to this, the resort will offer upscale and informal restaurants, service facilities for hosting conferences and a spa. Additionally, the resort will provide high-tech amenities and showcase a design that captures the authentic essence of the local region. Its strategic location makes it an ideal destination for local visitors from across the Kingdom, residents of the Eastern Province, and travelers from Gulf Cooperation Council countries.
New partnership signed to bid for PPP post-acute care tenders in Saudi Arabia
Dubai-listed Amanat Holdings (Amanat) and Saudi-based Mada International Holding have announced a partnership to collaborate on Public-Private Partnership (PPP) projects in Saudi Arabia, focused on the long-term care and rehabilitation segment. The partnership unlocks the potential for significant PPP opportunities in Saudi Arabia, commencing with participation in the upcoming 900-bed PPP post-acute care tender in Riyadh and Dammam, accelerating Amanat's target of delivering 1,000 beds. The partnership supports the goals of Saudi Vision 2030 and the Kingdom's efforts to address an estimated 16,000-bed supply gap in post-acute care.
$587mln agreement signed for mega project in Saudi Arabia
Umm Al-Qura for Development & Construction Company (UAQ) signed three investment agreements totalling 2.2 billion Saudi riyals ($587 million). The three agreements, are as follows:
Agreement worth SAR800 million signed Egypt-based Swiss Inn Hotels & Resorts
Agreement worth SAR450 million with Saudi developer Fouad Khafaji Real Estate Company
Agreement worth SAR900 million with Saudi's Scope Properties
No further details were shared about the agreements.
Agreement signed to built new mixed-use project is Saudi Arabia
Talaat Moustafa Group (TMG) joined hands with Saudi Arabia's state-owned National Housing Company (NHC) to build a 40 billion Saudi riyals ($10.6 billion) integrated residential city in Riyadh. Agreement includes the construction of an 'integrated smart and sustainable residential city' spanning a total area of 10 million square metres (sqm). The mixed-use development will comprise around 27,750 villas and residential units and nearly 40 percent of the area will comprise large green spaces.
$2.4bn contracts awarded for community projects in Saudi Arabia
Roshn and PIF-funded giga-project, has awarded over SAR9 billion ($2.4 billion) worth of contracts linked to construction, primary and secondary infrastructure and fittings work in its premium community development projects coming up across the kingdom. The deals were inked with top Chinese and Saudi companies on the sidelines of the debut edition of Cityscape Global which opened its doors in Riyadh. The first contract, worth SAR7.7 billion, has been awarded to China Harbour Engineering Company for the construction of 6,700 residential units as well as retail and supporting public amenities including mosques and community centres at Roshn's Sedra and Warefa communities in Riyadh. This commercial contract was the largest in value to be announced among all Saudi giga-projects till date and the entire work would be completed within a 45-month period.
The second deal, worth SAR690 million, was sealed with Saudi group PC Marine Services for canal and bridge construction in Roshn's recently announced Marafy community, which connects to Alarous in Jeddah. The third contract was awarded to Saudi Abyat for the design and supply of around 12,000 kitchens with high-quality design, construction, and fittings in several upcoming Roshn communities. The last deal worth SAR840 million was sealed with Saudi Pan Kingdom Company covering primary and secondary infrastructure works in Roshn's upcoming and yet-to-be announced communities in the kingdom's western regions.
$1.1bn mixed use project will be developed in Saudi Arabia
The King Salman Park Foundation has joined hands with Saudi developer Naif Al Rajhi Investment Company for the launch of its new mixed-use real estate development project at a total investment of SAR4 billion ($1.1 billion). Spread over a 290,000 sq m area within the park premises, the project will boast over 1,500 residential units that will include Salmani-style apartments and townhouses overlooking the park, along with 140,000 sq m of gross leasable areas for offices and retail, hotels, schools, and several educational, health, sports, recreational and social facilities. The office spaces will feature central Grade A and flexible office options, fully blended within residential plots, while the hospitality offerings will cater to business tenants and park visitors. Retail space will be distributed throughout the public realm, covering the essential needs of residents. This was the first public-private partnership project managed and funded entirely by the private sector.
Saudi Fransi Capital is the fund manager, while King Salman Park Investment and Real Estate Development Company is the master developer, and Naif Al-Rajhi Investment Company is the real estate developer and master lessee of the project. The fund's working mechanism is a model of cooperation between public and private entities, with the latter responsible for managing and financing the fund. It focuses on the development of the first real estate investment in plots of land in the park. This partnership is unique, linking key partners and the fund's capital structure to create an innovative risk and reward proposition for both equity and debt stakeholders, balancing the King Salman Park project's long-term and projected capital returns with a consistent and regular income flow in the short and long term. The investment fund will undertake the development of the first real estate investment site in King Salman Park, covering more than 290,000 sq m area. The project site is in the early stages, in district-one of King Salman Park, west of the Visitor Pavilion, south of the Royal Arts Complex and east of King Abdulaziz Road.
New joint venture formed to produce fuel in Saudi Arabia
Saudi Arabia's City Cement Company's subsidiary, Green Solutions for Environmental Services, has set up a new joint venture to produce alternative fuel from waste and market it locally and globally. The newly-created venture, with a capital of 6.77 million Saudi riyals, is owned 29.4 percent by Green Solutions, 19.6 percent by Lechtenberg Middle East for Environmental Services Co. and 51 percent by Tadweer Environmental Services Company, a unit of Public Investment Fund-backed Saudi Investment Recycling Company. Although details will be announced in due course, the project will contribute to reducing dependence on fossil fuels, cutting carbon emissions, and contributing to the Kingdom's transformation into a circular economy.
Plans announced to launch highway PPP projects in Saudi Arabia
Saudi Arabia's Ministry of Transport and Logistic Services is expected to release the tenders for Jeddah - Makkah and Jeddah-Jazan highway projects under the Public-Private Partnership (PPP) model by the first quarter of 2024.
Jeddah-Makkah Highway, the tender for the design-build-operate services contract is expected to be announced by January 2024. The contract duration is expected to be 10 years. The overall project completion and commissioning scheduled for the first quarter 2026 & the estimate of the project cost is $50 million.
Jeddah-Jazan Highway, which will extend for 570-kilometres, includes conversion of existing 280km two-lane stretch into three lanes. The contract is likely to be issued by the end of first quarter of 2024 & the build-operate-transfer contract includes a construction period of four years and operations and maintenance period of 26 years. The overall project completion and commissioning scheduled for the first quarter 2028 & the estimate of the project cost is $320 million.
Agreement signed for establishing a cement plant in Saudi Arabia
France-based Hoffmann Green Cement Technologies and Riyadh-headquartered Shurfah Group have agreed to build the first clinker-free cement plant in Saudi Arabia in 2024.
The engineering and production process will be carried out by IBAU Hamburg, a German general contractor. All the vertical units will be built entirely with Hoffmann Green cement. Hoffmann and Shurfah signed a 22-year licensing agreement to finance, build and operate Hoffmann Green production units in the Kingdom to support the decarbonation of the construction sector. The agreement will allow the Saudi company to market Hoffmann Green carbon-free cement throughout Saudi Arabia. In return for the industrial and technological transfer, Hoffmann Green will receive from Shurfah an entry fee and fixed and variable annual royalties based on sales generated by the marketing of Hoffmann cement in the Kingdom.
Contractors are lined up for onshore packages of gas expansion project in Saudi Arabia
Four leading international contracting giants are in the race for multiple engineering, procurement and construction (EPC) packages from Saudi Aramco for the expansion of its Fadhili gas plant. The plant in 2019 and began processing natural gas from non-associated fields in the eastern region, scaling up necessary infrastructure in Saudi Arabia. Fadhili expansion project, is 'expected to cost billions of dollars.' The gas plant is critical to its commitment for increased supplies of cleaner-burning natural gas, reducing emissions, and freeing up more crude oil for value-added refining and export. It is also an enabler for Saudi Arabia's vision to reduce its domestic dependency on oil burning to generate power, by increasing our production of sales gas to 12.2 billion scfd.
The first package includes three gas processing trains, each with a capacity of handling 500 million cubic feet per day of natural gas, the second package involves sulphur recovery units, while a third comprises utilities. The Fadhili gas plant has a processing capacity of 2.5 Bcfd from five trains. The initial train was commissioned in 2019. EPC contractors battling for the EPC packages include South Korean giants Samsung Engineering, Hyundai Engineering & Construction and GS Engineering & Construction, and Japan's JGC.
Contract signed for pre-development studies of wind parks in Saudi Arabia
ILF Consulting Engineers has been assigned a contract for the pre-development studies of utility-scale Wind Parks in Saudi Arabia. Due to ILF's 50+ years of outstanding engineering expertise, the company has been chosen as the preferred consultant for this transformative project. ILF Consulting Engineer's comprehensive pre-development studies encompass a wide array of critical aspects. These include preliminary site assessments, preliminary and advanced design considerations such as basis of design, single-line diagrams, energy yield assessments, LCOE optimization, and the development of a wind master plan. The study also includes onsite assessments covering topography, hydrology, geotechnical campaigns, as well as aeronautical and radar assessments. Additionally, environmental and social impact assessments are a crucial part of the process.
The studies also provide foundation recommendations, addressing general, deep, and shallow foundations, earth pressures, retaining walls, pipeline anchors, earthworks, excavation considerations, dikes, embankments, and pavements, among other factors. A wind measurement plan is developed to acquire essential wind data, and the entire process includes permitting engineering to ensure compliance with regulatory requirements. These meticulous studies collectively form a vital foundation for the successful development of utility-scale wind parks in Saudi Arabia, ensuring both technical feasibility and environmental responsibility. The partnership is set to have a positive impact on the future of energy in Saudi Arabia.
Renovation work is underway for a closed part of northern corniche in Saudi Arabia
The Jeddah Mayoralty revealed that renovation work is underway in the closed part of the northern Corniche from the end of Sari Street in the north to the Border Guard headquarters in the south. The renovation works include dismantling and removing damaged granite tiles, caused by the flow of seawater, adjacent to the games area, in preparation for re-treatment work and installing new granite tiles in accordance with the architectural design. The maintenance and painting works of precast concrete chairs were carried out and periodic electrical maintenance work was completed, in addition to painting the lighting poles along the sea promenade, as well as periodic maintenance and painting of waste baskets along the sea promenade, periodic maintenance and operation of the fountain next to the Border Guards headquarters, and periodic maintenance, treatment and painting of the columns of umbrellas in the gaming area next to the Border Guards headquarters. Work is underway to renovate irrigation networks with a length of 500 meters and plant green areas with an area of 2,000 square meters with 3,000 seedlings and shrubs next to the Border Guards building, as well as supply and installation of new bumpers for the Corniche Road on both sides and middle of the road, with 270 out of 500 are being installed. At present, building and plastering work is underway for two electricity rooms in preparation for moving the power station into the rooms to protect against water resulting from high waves, as part of treatment plans in coordination with the Saudi Electricity Company. Periodic maintenance work, rust removal and repainting of tank covers and rainwater drainage manholes in the area are being carried out, in addition to periodic maintenance work and repainting and renewal of concrete barriers for the sea wall in the region. The irrigation networks on the central island of the Corniche Road were renovated, from Sari Street in the north to the Border Guard headquarters in the south, with a length of 1,800 meters. Plantation works are going on in an area of 2,500 square meters out of 3,500 square meters, while work is currently underway to completely restore the sea wall with handrails and marine scaffolding in preparation for its restoration and supply of new handrails. The Mayoralty also prepared and presented a project to study and design the construction of breakwaters in the North Corniche to use the study's outcomes to implement permanent solutions to avoid damage caused by the flow of sea water during high waves. The site was secured with manning security guards and erected concrete fences to prevent visitors from entering the site.
Agreement signed to explore green hydrogen projects in Saudi Arabia
Saudi-listed ACWA Power has signed strategic agreements with six Italian partners at the Saudi-Italian Investment Forum in Milan to boost cooperation in the fields of green hydrogen, water desalination, and research and development. The six Italian entities include the small, medium, and large enterprises federation Confindustria, major energy firm Eni, utility and waste management firm A2A, industrial solutions provider Industrie De Nora, specialty additives manufacturer Italmatch Chemicals and classification and engineering solutions provider RINA. The agreements with Confindustria, Industrie De Nora and Italmatch mainly relate to desalination and water treatment while those with Eni, A2A and RINA cover green hydrogen and renewables.
Second master plan launched for urban development in Saudi Arabia
The Royal Commission for AlUla (RCU) launched the second master plan for urban development of central and southern AlUla. The plan aims to improve the quality of life and stimulate economic growth and urban development in the region. This is within the framework of comprehensive sustainable development stipulated in the AlUla Vision in line with the Kingdom's Vision 2030. The RCU announced the strategic direction of the plan, with the slogan 'Towards a Prosperous Society,' will focus on urban development with developing residential land and utility services and facilities, in addition to achieving public health goals, and improving the sustainable mobility experience.
The second master plan represents a road map for the development of the central and southern regions of AlUla, which completes the comprehensive development phase of what was announced in 2021, by launching the design vision titled 'Journey Through Time.' It is concerned with developing and rehabilitating the main archaeological area in AlUla, and the two plans aim to transform AlUla into a major tourist destination and global leader in arts, heritage, culture and nature, and to become an ideal destination for living and working. The plan includes developing the infrastructure and the urban environment, raising the quality of provided services, and making available elements of activities that aim to raise the quality of health services, raise the quality of recreational activities, and enhance comprehensive sustainability in residential areas, as well as various facilities. This is in addition to providing multiple means of transportation, with the integration of Wadi Al-Qura with neighboring regions in the province.
The plan titled 'Towards a Prosperous Society' is based on achieving economic development, taking care of cultural and natural heritage, achieving humanization of the city, and providing an urban experience with its living services in various neighborhoods and locations. The development of the second phase of the plan was based on the foundations of the AlUla Sustainability Charter, which aims to activate a circular carbon economy and achieve full carbon neutrality in AlUla governorate by 2035. The urban development plan will enable the development of innovative infrastructure, with which the Royal Commission aims to develop an ideal destination for living and working, and to provide the requirements of life in neighborhoods featuring their urban style and integrated services. This is to create a harmonious environment that connects people with nature and the ancient heritage of the governorate. The neighborhood will be provided with a number of vital services and facilities, including green spaces, sports fields, and parks. The RCU reiterated its commitment to promoting comprehensive sustainable development, enhancing the urban development of the governorate, and preparing it through a system of programs and initiatives, in order to achieve first human development before place as a basic methodology, with enhancing that vision by presenting architectural models and designs inspired by traditional architectural styles in AlUla.
New industrial zone to be built near Saudi Arabia
Iraq is building a new industrial zone in its largest governorate bordering Saudi Arabia and Jordan as part of post-war plans to set up economic and industrial areas across the country. The 7.5-million-square-metre zone is located in the Western Alanbar Governorate and is intended to attract industrial capital from Iraq and other countries. Phase 1 of the project includes the construction of the zone's infrastructure involving power, water, roads, warehouses and other facilities. The remaining three phases comprise providing services and other facilities to investors, the project also includes the construction of a water treatment plant with an output capacity of 2,500 cubic metres per hour (m3/h). The first phase is more than 82 percent complete. The third phase comprises the construction of a 11-kilometre pipeline to supply water from the Euphrates River to the industrial zone while the fourth phase includes the construction of a 3,600m3/day industrial wastewater treatment unit.
Masterplan launched for developing logistics centers in Saudi Arabia
Saudi Arabia's Crown Prince launched a master plan to develop logistics centers in the Kingdom as part of its efforts to diversify the economy. The crown prince unveiled a comprehensive plan that seeks to develop 59 logistics centers, encompassing a total area exceeding 100 million sq. meters. These centers will span various regions, including 12 each in Riyadh and Makkah, 17 in the Eastern Province, and 18 across other parts of the Kingdom. The strategy aims for the completion of all centers by 2030. The crown prince affirmed that the initiative is integral to enhancing Saudi Arabia's international trade connections, particularly given its strategic geographic location that bridges Asia, Europe, and Africa. The logistics centers will facilitate faster export of Saudi products, and bolster e-commerce by ensuring quick, efficient connections between logistics and distribution hubs nationwide. The plan is also expected to generate numerous job opportunities and expand the private sector's role through partnerships as it is an extension of a series of ongoing initiatives aimed at elevating the Kingdom's economic growth and enhancing its role on the global stage. As part of this overarching strategy, a specialized logistics zone will be established at King Salman International Airport in Riyadh, with Apple announced as its first international investor.
Agreement signed for developing eco-friendly coastal resort in Saudi Arabia
Saudi Arabia-based King Abdullah Economic City has signed an agreement with Rasim for Hotels and Resorts to develop an eco-friendly coastal resort, ENVI Laguna Bay, within its premium development located on pristine Red Sea coast. It will be managed and operated by ENVI Lodges, a GCC-born luxury brand specialising in environmentally friendly resorts and lodges. A beacon of luxury and sustainability, the ENVI Laguna Bay (surrounded by mangroves) will comprise 40 beach pods with private pools, each meticulously designed by globally renowned architect firm Gensler. Set to open next year, 2024, the eco lodge will boast facilities that will be family and wellbeing experience focused and include a kids' club, an activities centre, and a wellness hub featuring a yoga deck. To mark the occasion and in keeping with ENVI Lodges' commitment to protecting and promoting nature, local mango trees were planted on the site during a special ceremony which was attended by Al Rasim Hotels & Resorts, ENVI Lodges and KAEC. These mango trees are inspiring the lodge's architectural concept.
Contract awarded for construction management services in Saudi Arabia
Parsons Corporation, a leading US engineering and construction group, announced that it has been awarded a five-year contract by the King Abdullah Financial District Development and Management Company to provide key project and construction management services at its prime business and lifestyle destination, the King Abdullah Financial District (KAFD), located in Riyadh, Saudi Arabia. The contract supports the expansion of KAFD in new, undeveloped land. Parsons is working to ensure all new buildings being constructed obtain LEED certification, including the first municipal fire station in the region to receive Platinum certification. Further, the company is jointly engaged to manage the design and construction of water recovery and reuse facilities to supplement scarce resources for development. While they are excited about the new construction and new buildings planned in KAFD, they remain steadfastly committed to reducing their carbon emissions. On this project, Parsons will provide comprehensive project and construction management services for developing commercial, hospitality, residential, municipal, and mixed-use buildings and the associated infrastructure to support the high-rise development
Potable water network contract to be awarded soon in Saudi Arabia
Saudi Arabia's National Water Company (NWC) is expected to award the engineering, procurement, and construction (EPC) contract for its water network project in Al Kharj Governorate (Phase 1) by the fourth quarter of 2023. The tender for the EPC contract was floated on 24 July 2023 with the bid submission deadline scheduled on 14 August 2023. The EPC contract award is expected by mid of October 2023.
The project's scope of work involves the construction of potable water pipeline network and associated works. The overall project completion and commissioning scheduled for the fourth quarter 2025 & estimate of the project cost is $70 million.
LOI signed to supply iron ore pellets to Saudi Arabia
Bahrain Steel has signed a letter of intent (LOI) with India-based multinational conglomerate Essar Group to supply of iron ore pellets to the Green Steel Arabia (GSA) project. Bahrain Steel will deliver four million tonnes of DR-grade pellets per annum (mtpa) to Essar Group. Bahrain Steel, a subsidiary of Bahrain-based investment company Foulath Holding, produces and supplies high-quality DR grade pellets to all integrated steel producers in the region. Essar is looking at investing about $4.5 billion in setting up an integrated steel plant in Ras Al Khair, Saudi Arabia. This LOI, post final contracts being agreed and signed, will secure 50 percent raw material supply of iron ore pellets for the Saudi steel plant. Commercial production to begin from the year 2027.
The green steel project will have a direct reduced iron (DRI) capacity of 5.0 mtpa, comprising of two modules of 2.50 mtpa each, and 4.0 mtpa hot strip capacity, as well as 1.0 million tonnes of cold rolling capacity along with galvanising and tin plate lines. The project aims to set a global benchmark in the reduction of CO2, and will cater to construction, Oil & Gas, automotive, packaging and general engineering.
Agreement signed for housing sector development in Saudi Arabia
Saudi Arabia and China signed 12 cooperation agreements in the presence of Ministry of Municipal and Rural Affairs and Housing. Some agreements were signed for the development of infrastructure and financing, including five for housing at a total value of more than SAR 5 billion. Saudi Arabia is witnessing unprecedented growth in investment opportunities. It also provides an attractive environment for investments. The Kingdom embarked on building over 300,000 housing units on a total area of more than 150 million square meters, including integrated residential suburbs across 17 cities. The total value of these units will exceed SAR 100 billion. Saudi's minister four-day visit to Beijing included meetings with many leaderships of banks and specialized Chinese firms to explore investment opportunities in the Saudi municipal and housing sectors.
Agreement signed for establishing first airport hotel in Saudi Arabia
Hilton is continuing its expansion across Saudi Arabia with the signing of Hilton Dammam Airport, its first airport hotel in the country. The 273-key property will be completed in partnership with Al Musbah Group and Damman Airports Company (DACO). The hotel will offer guests spacious and contemporary accommodation with direct skywalk access to the terminal building at King Fahd International Airport, one of the busiest airports in Saudi Arabia which welcomes approximately 10 million passengers per year. The property is also ideally located for Dammam City Centre, as well as Dharan, Khobar, and nearby Bahrain. King Fahd International Airport serves as a hub for Saudia Airlines, Aramco Aviation, and FlyNas, with flights to over 70 international destinations by over 50 airlines. It also operates a dedicated Saudi Aramco terminal and Oxford-authorized training centre, an aviation academy, and a large-scale cargo village. Hilton Dammam Airport will feature a combination of 273 guest rooms, junior suites, as well as larger one and two-bedroom suites. Featuring an all-day dining restaurant, complete with an outdoor terrace, a cafe, an outdoor pool with adjacent cafe, and fitness centres, the hotel will have a range of leisure facilities for guests to enjoy. It will also offer state-of-the-art meeting facilities for business travellers, including several meeting rooms and an executive lounge that caters for up to 90 people.
Bids invited for new mining sites in Saudi Arabia
Saudi Arabia has put forward eight mining complexes in the Riyadh region and the Eastern Province for competition, signaling its ongoing commitment to attract investments in the sector. The Ministry of Industry and Mineral Resources launched this initiative as part of its broader strategy to enhance transparency, attract investment, and foster growth in local communities connected to mining projects. The Eastern Province will host six of these complexes, including Al-Ghunan, Al-Suman, Al-Misnah, Ras Al-Qaryah, and the eastern and western Salwa complexes. The Riyadh region will see the establishment of two more complexes in Al-Armah and Hofayrat Nesaah. The move seeks to tap into Saudi Arabia's abundant mineral resources, driving economic growth. The new mines are within a push by the Ministry to attract investment to the mining sector and boost non-oil revenue as part of an ambitious economic diversification scheme subbed Vision 2030.
$ 93 million contract awarded for a major development in Saudi Arabia
Global engineering firm, Parsons announced as part of second quarter 2023 results, it has awarded a new contract in Saudi Arabia. The value of the contract is $ 93 million. The single-award contract is related to complete project and design management for a major development in Saudi Arabia. The duration of the contract is five years. The company booked the entire value of this contract in the second quarter, 2023.
$1.3 billion desalination projects has announced in Saudi Arabia
Saudi Arabia's National Water Company (NWC) has announced that work is currently under way on 12 major desalination projects worth more than SR4.9 billion ($1.3 billion) covering key regions of Dammam, Al Khobar, Jubail, Al Ahsa and Qatif. The project scope includes construction of 40 water tanks with a total capacity of 1.6 million cu m in addition to pumping stations and laying of 493 km of strategic pipeline networks that will be gradually operated to serve beneficiaries in Dammam, Khobar, Jubail, Al Ahsa and Al Qatif with 24/7 supply. The company pointed out that so far it has completed work on 11 tanks with a total capacity of 530,000 cu m in Dammam. Now eight more tanks with a total capacity of 323,000 cu m are being planned in the governorate of Al Khobar.
On Al Qatif, NWC is building eight reservoirs with a total capacity of 322,000 cu m. Additionally, six tanks, 158,000 m3 in total, and seven more (with 310,000 cu m capacity), are being built in Jubail and Al-Ahsa governorates respectively. The projects underway in the Eastern Province, include 21 pumping stations, 5 of which are in Dammam, 3 in Khobar, 5 in Al-Qatif, 6 in Jubail and 2 in Al-Ahsa. These involve installation of some 500,000 m of pipeline networks in total, 197,000 m of which will be executed in Dammam, 52,000 m in Khobar, 108,000 m in Jubail, 62,000 m in Al Qatif and 73,000 m in Al Ahsa governorate. In another development, NWC had recently completed the execution of a wastewater network project in parts of King Abdullah and Al Munsiyah districts in Riyadh, at a total cost of more than SR26 million. The project comes as an integral part of NWC's initiatives to increase coverage of the services it offers to its customers. The scope of work includes the installation of more than 20 km of pipework, in addition to the establishment of a lift station with a daily capacity of 1,469 cu m.
Proposals invited for construction of a mall in Saudi Arabia
A Saudi company has invited developers to build a massive mall in the Western Makkah City on a build-operate-transfer (BOT) basis. The mall will be the largest in the city and will be built on an area of 108,000 square metres. Investors can operate and manage the mall for 25 years. The project is highly feasible as it is located in a busy area. The project is located in one of the largest residential neighbourhoods in Makkah. It will comprise famous international brands besides facilities for hosting major events and entertainment activities.
805MW Solar project contract awarded in Saudi Arabia
PVH announce the signing of major contract with Larsen & Toubro (L&T) for the supply of 805 MW on a solar project in Saudi Arabia at Ar Rass City. The project will be located in Saudi Arabia Qassim province near Ar Rass city. It will be included within The National Renewable Energy Program and overseen by the Kingdom's Ministry of Energy, Industry and Mineral Resources (MEIM) as a strategic initiative under Saudi Vision 2030.
All trackers for the Ar Rass solar project will be sourced from PVH's recently renovated manufacturing facility in Jeddah, Saudi Arabia. The trackers are specifically designed to withstand high temperatures and sandstorms while the advanced safety features will ensure its stable operation and corrosion resistance with an estimated life of 25 years. Around 132,000 homes, will be powered through this mega project and while offsetting 1.5 million tons of emissions per year.
Plans launched for largest desalinated water networks in Saudi Arabia
Saudi Arabia is preparing to undertake a massive project to create the world's largest source of drinkable water. Their plan involves digging a river that would span 12,000 kilometres in length, 11 metres in width, and four metres in depth – all with the aim of surpassing the length of the Nile River. This ambitious feat will require the use of anti-corrosion pipes, each with a diameter of 2.25 metres. After a few years, the length of the water pipes will transport this fresh water from one place to another, this project be twice the size of the Nile, which is over 6,000 kilometres long. This upcoming desalinated water transport network will be among the biggest in the world. The pipes running beneath Saudi cities will extend for 126,000 kilometres, which is long enough to wrap around the world three times. The network will produce a massive quantity of water, with 9.4 million cubic meters being generated each day. This amount, if distributed to the world's population, every person would get two gallons (two bottles) of water from the production of water sweetened in Saudi Arabia.
SAR2.8 mln contract signed for adding new feeder panels in a substation in Saudi Arabia
Rawasi Albina Investment Co. signed a contract with Saudi Electricity Co. to implement a project for the addition of new feeder panels in substation 8701 in Al-Kharj, for SAR 2.82 million (VAT inclusive). The financial impact of the 18-month contract may appear during the second half of 2023, lasting for one year.
$799m contract awarded for ten new land rigs in Saudi Arabia
Arabian Drilling Company, one of the largest national onshore and offshore drilling contractor in Saudi Arabia, announced multiple contracts awards from Aramco for ten (10) additional Land Rigs. The contracts' firm terms durations (i.e., excluding options) are five (5) years with estimated aggregate contracts value representing over three (3) billion Saudi Riyals. These ten (10) contracts awards are for additional land rigs assigned to Aramco's Unconventional Program. All ten (10) land rigs are new-builds to be added to the Company's current land rig fleet of 38 units, representing a land rig fleet increase of 26%.
Deal Signed to establish biowaste recycling plant in Saudi Arabia
Saudi dairy giant National Agricultural Development Co. signed a deal with Municipal Solid Waste Recycling Co., also known as Yadoum, to set up a biowaste recycling plant that produces fertilizer. The agricultural and food-processing company, which undertakes massive cow-raising activities for dairy production, generates an estimated 150,000 tons of biowaste every year.
As part of the agreement, Yadoum, which is wholly owned by the Saudi Investment Co. for Recycling, will build a plant for recycling and processing this biowaste to produce highly efficient organic fertilizers. NADEC will provide the required land on lease for the project near its dairy farms in Haradh. The 20-year agreement is an extension of a memorandum of understanding signed between the dairy giant and SIRC, wholly owned by Public Investment Fund. As part of the new deal, NADEC will commit to supplying Yadoum with 150,000 tons of biowaste annually at a specified price for the first five years of the agreement period. In return, Yadoum will supply high-quality fertilizer to NADEC at a specific price per cubic meter, based on a predetermined discount agreed upon by both parties. Both parties have agreed to increase prices every five years. Both companies will review future quantity projections every two and a half years throughout the agreement's validity period.
As part of the agreement, Yadoum will provide expertise and capabilities in research and development to support NADEC in finding permanent and sustainable solutions for managing biowaste. By supporting diverse agricultural ventures, Saudi Arabia seeks to fortify food security, address potential supply shortages, and ensure the stability of food supply chains.
Plans unveiled for construction of a park project in Saudi Arabia
Saudi Arabia is offering a new project to investors involving the construction of a national park that comprises restaurants and other facilities. The park is located in the Western Maysan City and has an area of 2.3 million sq metres. Investors wishing to apply for the project in mid-August, 2023, must have experience in the management of parks while foreigners must have Saudi permits. The project would be offered on a 50-year investment basis and it comprises amusement facilities, restaurants, cafes, a shooting academy, a model village, and a gliding aircraft centre.
MoU signed to set up an electric vehicle manufacturing unit in Saudi Arabia
Saudi Arabia's electric vehicles ecosystem is expected to get a further boost, with Indian startup Pravaig Dynamics planning to set up a left-hand-drive EV manufacturing unit in the Kingdom. Pravaig Dynamics signed a memorandum of understanding with Saudi India Venture Studio. The EV manufacturing facility in Saudi Arabia would have a production capacity of up to 1 million units and cater to the demand of the Gulf, US and Europe markets. Saudi Arabia's EV ecosystem has been witnessing a rapid expansion over the past few years, as the Kingdom has set its net-zero targets in 2060. Under the MoU, both companies will work toward exploring co-development, supply and service special purpose vehicles, including EVs, AI-driven solutions, advanced batteries and energy storage solutions.
MoU signed for developing green hydrogen projects in Saudi Arabia
Saudi Arabia's Public Investment Fund (PIF), the kingdom's sovereign wealth fund, has signed a memorandum of understanding (MoU) with Japan's biggest power generator JERA Co. Inc. to explore opportunities to develop green hydrogen projects and derivatives. The MoU paves the way for the two parties to begin feasibility studies for the potential development of green hydrogen and derivatives projects that would be aiming to support domestic and international markets.
New residential project launched in Saudi Arabia
Saudi Arabia's National Housing Company (NHC) has launched its innovative integrated living project 'Sadayem' in North Obhur in Jeddah. The 'Sadayem' suburb covers a total area exceeding 3.8 million sq m and houses over 8,000 residential units, including villas, apartments and townhouses. Its integrated structures boast architectural designs inspired by the identity of the Hijazi region, creating a comfortable and luxurious living environment for more than 40,000 residents. NHC's latest uber luxury housing project is strategically located east of Al Buhairat city, near the Red Sea coast, and close to various essential services and significant future projects.
NHC signed agreements with a number of developers including Rattal Real Estate Development Company, Mayar for Development and Real Estate Investment Company, Dar and Emar for Real Estate Investment and Development Company, Mohamed Al Habib and Partners Company, Ajdan for Real Estate Development Company, Thabat Al Maskan Real Estate Company, and Ebar Al Mamlaka Real Estate Company. Sadayem was an extension of the numerous residential communities and suburbs previously established, aimed at increasing the real estate supply in line with the goals of the Housing Programme and Vision 2030. These residential suburbs reflect the vital role the company plays in empowering the private sector through collaboration with specialized companies to provide more future projects. Offers an integrated, ultra-modern concept of quality living, featuring long green pathways extending over 8km, resembling the design and style of historical neighbourhoods in Jeddah. The pathways facilitate access to all surrounding services, green spaces, vital facilities, and amenities, providing an innovative living environment close to the seaside. Sadayem will begin on July 24 2023 with the Phase One villas being priced at SR800,000 ($213,126) onwards. The sale of apartments and townhouses will follow in upcoming phases.
NHC has also inked MoUs with key Saudi entities Al Habib Medical Group, Lejam Sports Company, Human Development Company, Sasco Vehicle Services, and Waad Holding to provide comprehensive services for the inhabitants of the suburb. These agreements are aimed at developing residential communities in the 'Sadayem' suburb. Additionally, cooperation agreements were also signed with Al-Ahli Bank, Al Bilad Bank, and Al Rajhi Bank, to offer special financing options for 'Sadayem' suburb beneficiaries.
Agreement signed to develop seawater desalination in Saudi Arabia
Saudi-based Saline Water Conversion Corporation (SWCC) has signed an agreement with Japanese Shinshu University in the field of developing seawater desalination. The MoU aims to develop reverse osmosis technologies for seawater and related processes, improve pollution resistance and energy consumption, and expel salts from washing processes for osmosis technologies, in addition to developing innovative technologies, such as Zero liquid discharge (ZLD), micro membranes, and seawater mining technologies. The two sides also agreed to cooperate in using advanced environmentally friendly renewable energy for water applications and any other field agreed upon by both parties.
Contract signed for improvement & rehabilitation of a head office in Saudi Arabia
WAJA Co. signed a contract to undertake improvement works on the main building of National Housing Co. (NHC) in Riyadh. The contract, which has a duration of 100 days, is valued at SAR 9.17 million, including value-added tax. The work scope includes improving and rehabilitating the main building, including architectural and electromechanical works. The contract will have a positive financial impact on the company's revenues.
Contract awarded for rehabilitation & furnishing works of a headquarter in Saudi Arabia
WAJA Co. signed a contract with Alkhorayef Water and Power Technologies Co. (AWPT) for the rehabilitation and furnishing of the latter's headquarters at a total value of SAR 21.27 million, inclusive of VAT. The eight-month contract covers architectural, electrical and mechanical works, in addition to furniture supply and installation. The contract is expected to boost WAJA's revenues.
SAR 2.81 million project contract signed for development of players rooms in Saudi Arabia
WAJA Co. signed a project contract worth SAR 2.81 million (VAT included) for the restoration and development of the rooms of the Al Hilal Club. The contract has a term of 30 days and covers the restoration and development of first-team players' rooms, including architectural works, electrical and mechanical works, and the supply and installation of furniture. The deal will have a positive financial impact on the company's revenues.
SAR 6.12 million contract awarded for construction of a restaurant in Saudi Arabia
Foods Gate Trading Co. awarded the main contractor's work for the construction of Tokyo Restaurant branch in Jeddah to Al Ramsat Contracting Co. at SAR 6.12 million (excluding VAT). The scope of work includes the construction of the 610-square-meter Tokyo Restaurant, covering all mechanical, electrical, plumbing and fit-out works of the unit that has been leased from Bunyan United Co. for five years, in line with the company's strategic plan. The contract has a term of 115 calendar days, with the financial impact expected to be reflected starting from Q4 2023.
SAR 166 million contracts awarded for high-voltage underground cables in Saudi Arabia
KEIR International Co. signed two contracts for the extension of high-voltage underground cables with National Grid SA, at a value of SAR 165.96 million, including VAT.
The first contract, worth SAR 78.75 million, aims to implement a project to extend high-voltage ground cables to connect the West Taiba station within the program to enhance major cities in Madinah.
Meanwhile, the second contract, with a value of SAR 87.21 million, aims to implement a project to extend high-voltage ground cables of 110 kV to connect Al Haram station within the program to strengthen the major cities in Madinah.
The 21-month contracts were effective from their signing date. The relevant financial impact is expected to appear during Q2 2023 and 2024.
MoU signed to deploy carbon capture in Saudi Arabia
Aker Carbon Capture and Aramco have signed a Memorandum of Understanding (MoU) to explore partnership opportunities to deploy carbon capture, utilization and storage (CCUS) and industrial modularization in Saudi Arabia. The MoU is expected to focus on carbon emissions reduction and removal through CCUS from industries and energy solutions by offering modular carbon capture plants and aftermarket services. The parties also aim to assess the potential for developing local supply chains and module fabrication. The MoU has a duration of 2 years. Through the Middle East Green Initiative, the region aims to reduce CO2 emissions by 670 million tonnes per year. It is important for Aker Carbon Capture to support this major undertaking, which represents around 10% of global nationally determined contributions.
Aker Carbon Capture's Just Catch modular concept is a standardized product offering that enables prefabrication of carbon capture units. Aker Carbon Capture is currently delivering a Just Catch unit in the Netherlands, which is expected to be delivered by the end of 2023. In May 2023, the company announced the award of a contract for five Just Catch units to Orsted in Denmark, a global leader in renewable energy. Aker Carbon Capture and Aramco also aim to explore the possibility of developing modular solutions across industries in Saudi Arabia.
$7.7 million contract awarded for water operation & maintenance work in Saudi Arabia
Saudi-based Alkhorayef Water and Power Technologies Company has announced that it has secured a SR29 million ($7.7 million) water maintenance contract from the National Water Company in Hafar Al Batin governorate. As per the deal, Alkhorayef Water and Power Technologies Company will be performing the works operation and maintenance of water sector for a period of 36 months in the Hafar Al Batin suburbs in the Eastern Province. The financial impact will start during the second quarter of 2023.
MoU signed to develop green hydrogen projects in Saudi Arabia
France-based global utility company ENGIE announced that it has signed a memorandum of understanding (MoU) with Saudi sovereign wealth fund Public Investment Fund (PIF) for the joint development of green hydrogen projects and its derivatives in Saudi Arabia. Under the MoU, PIF and ENGIE will evaluate the feasibility of co-development opportunity, and jointly formulate a strategy to best approach the international market and secure offtake arrangements. The MoU will foster strategic partnership between the two entities in developing green hydrogen projects that would enable the Kingdom to become one of the top exporters of green hydrogen worldwide.
Ground breaking ceremony held to built marine engines manufacturing unit in Saudi Arabia
Saudi Arabian Industrial Investments Company (Dussur), Saudi Aramco, and Hyundai Heavy Industries (HHI) have broken ground on Makeen, the first facility to manufacture marine engines in Saudi Arabia. The manufacturing facility will be located in Ras Al-Khair, the Kingdom's Eastern Province and manufacture 2-stroke and 4-stroke marine and electric power plants engines, as well as marine pumps. Saudi Aramco will own 55 percent of the joint venture. Dussur will hold a 15 percent stake, while HHI will own a 30 percent stake.
Bids invited for construction of a new park in Saudi Arabia
Saudi Arabia has invited bids for the construction of a new park in the Western Mecca city with a total area of nearly 73 million square metres. The government-owned Al-Balad Al-Ameen Company, the investment arm of Mecca Municipality, set September 4, 2023 as a deadline for bidding by local and foreign firms. The project includes 'construction, investment, management and operation' of Al-Waseeq Park in Mecca city. The project comprises a park, buildings and associated facilities, applications can be obtained and received at the Company's offices in Mecca.
Multiple contracts awarded in Saudi Arabia & Kuwait
Chinese player Supcon has won multiple automation contracts from Saudi Arabia's International Maritime Industries (IMI) and state-owned Kuwait Oil Company (KOC), as it continues to expand its portfolio in the Gulf region. The Shanghai-listed player announced that it has been awarded the workforce and assets tracking solution project by IMI, the largest full-service shipyard in the Middle East and North Africa (MENA) region powered by Saudi Aramco, domestic player Bahri, UK-listed Lamprell, and South Korea's Hyundai Heavy Industries (HHI). In addition, the company won an instrumentation contract from KOC and the Smart Safety & Site Monitoring Solution for the Aramco Academy construction project. These recent project wins demonstrate Supcon's capability to provide a wide range of solutions from instrumentation, automation & information to top-level management solutions.
New contractor selected to development of a master plan in Saudi Arabia
Technip Energies has been selected by Aramco for the project management consultancy (PMC) contract to develop the master plan for Ras Al Khair, a new industrial city in the Eastern Province of Saudi Arabia. The city is set to house an unprecedented collection of low-carbon investments as part of Saudi Arabia's Vision 2030, for which Aramco is a strategic partner. The master plan will comprise various studies, including those for optimum land use, site preparation assessment, export terminal assessment, environmental baseline assessment, hydrocarbon supply assessment, third party engagement, area constructability, and modularisation hub.
These studies will determine the scope and programme execution plan for all civil, marine, telecommunication, and industrial infrastructures that will support the primary industrial projects planned by the main tenants. Additionally, the contract includes a number of PMC studies for the execution of the Liquid-to-Chemical Program, an ambitious initiative by the kingdom to transform a significant portion of its oil and gas production into valuable chemical products. This programme involves all the major existing Aramco downstream hubs, as well as the new development of the Ras Al Khair area.
Consultancy contract announced for solar photovoltaic parks in Saudi Arabia
International engineering, digital, and project management services company Assystem announced that it has been appointed by ENOWA (NEOM) to conduct a suite of pre-development studies for seven planned solar photovoltaic parks in the Tabuk and Duba regions. The solar parks will directly contribute to NEOM's vision to become the world's most advanced renewable energy hub and the first at-scale fully renewable electrical system. Assystem will deploy its experts to provide a range of services, which include a site assessment study, preliminary design of parks and master planning, environmental baseline surveys, an environmental and social impact assessment study, and permitting studies. Within this scope, various studies such as geotechnical, geophysical, topographical, hydrological, glint and glare, and corrosion assessments, energy yield calculations, and advanced design of the parks will be conducted. The sites earmarked to host the solar parks stretch over 420km2, potentially amounting to more than 20GW (accounting for around 65% of land use) in energy generating capacity. Solar PV is one of the key renewable energy technologies being deployed globally to reduce dependence on fossil fuels.
SAR 38.66 million contract awarded for a gas metering station in Saudi Arabia
Gas Arabian Services Co. (GAS) signed, contract worth SAR 38.66 million (excluding VAT) to upgrade Saudi Aramco's gas metering station. The engineering, procurement, and construction (EPC) contract is valid for 21 months. The financial impact is expected to appear on the company's financial statements within two years from the commencement date. There are no related parties to the deal.
New contract awarded for offshore activities in Saudi Arabia
Saipem announced that it has been awarded new contract for EPCI offshore activities in Saudi Arabia. Under the existing Long-Term Agreement (LTA) with Saudi Aramco, Saipem has been selected to be awarded a new offshore project. The scope of work involves the engineering, procurement, construction, and installation of five platforms and associated subsea pipelines, flowlines, and cables in the Marjan field, offshore Saudi Arabia, featuring an entirely in-Kingdom fabrication scheme. The effectiveness of the contract is subject to the fulfilment of the customary condition’s precedent.
Contract awarded for an offshore drilling rig in Saudi Arabia
Italian oilfield services player Saipem has secured a new contract in the Middle East. Saipem agreed to extend an existing contract in the Middle East for the jack-up drilling rig Perro Negro 7. The 10-year extension will see the Perro Negro 7, a self-elevating rig that had been contracted by Saudi Aramco since late 2011, continue drilling in shallow waters offshore Saudi Arabia. The new contract will keep the Perro Negro 7 drilling for Aramco until the second half of 2033. The 10-year extension is a record duration in the area, which in the past had only been granted to an international contractor on limited occasions, and further strengthens Saipem's strategic positioning in the drilling segment.
$15.3 million contract won to provide key services for a tower building in Saudi Arabia
Saudi-based Ladun Investment Company announced one of its subsidiaries, Built Industrial Company, has secured a contract worth SR57.47 million ($15.3 million) from the General Authority for Statistics (GASTAT) to provide key services for the Riyadh Tower building. As per the deal, Built Industrial will be responsible for the civil, architectural, electrical, sanitary and drainage works at the Saudi tower. The project will reflect positively on Ladun's income statements during 2023 and the beginning of 2024.
Contract expected to award for drinking water network project in Saudi Arabia
Saudi Arabia's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its Dhahran Al Janoob Drinking Water Networks project (Contract 1), located in Dhahran Al Janoob Governorate, Asir Region by the fourth quarter of 2023. The tender for the EPC contract was issued on 8 June 2023 and the bid submission is scheduled on 23 July 2023. The EPC contract is expected to be awarded in first week of October 2023. The scope of work involves the construction, supply, installation and testing of high-density polyethylene (HDPE) pipes with diameters of 110-200mm and a total length of 150km, and flexible cast iron pipes C-Class DI with diameters of 300-400mm with a length of 10 km. The project is slated for completion by the third quarter of 2026, estimate of the project cost is $150 million.
New infrastructure projects to be implemented soon in Saudi Arabia
A number of infrastructure projects will be established soon in the holy sites across Saudi Arabia. the infrastructure projects will be established during the current and upcoming years in order to enhance the electrical power supply. The use of mobile plants that rely on diesel will be completely eliminated with the aim of enhancing the safety of pilgrims and facilities in general. The preparations and operational plans related to energy supplies for the Hajj 2023 season 1444 AH have been inspected. The inspection tour covered energy facilities in Makkah and the holy sites. The operational plans, including the effectiveness, efficiency and reliability of electrical projects were reviewed, and ensured the availability of petroleum products in Makkah, the holy sites and Madinah.
SAR 35.4 mln contract signed for operation and maintenance of a service network in Saudi Arabia
Alkhorayef Water and Power Technologies Co. signed a contract with National Water Co. (NWC) for the operation and maintenance of an environmental service network with a central culvert in Madinah at a value of SAR 35.38 million. The firm will perform the works related to the contract for a period of 36 months. The related financial impact of the contract will reflect from Q1 2023. The agreement was received on June 20, 2023, after all parties signed it. There are no related parties in the contract.
Second stage of bus service launched in Saudi Arabia
The Royal Commission for Riyadh City has announced the launch of the second stage of 'Riyadh Bus' service (part of the King Abdulaziz Project for Riyadh Public Transport) which will witness the addition of 223 more buses serving the vast Riyadh city neighbourhoods, providing access to 500 bus stations and stops covering nine extra routes, including the extension of Line 11, dedicated bus lane service, as part of the overall 86 bus network routes. With the addition of Stage 2, the overall network expansion encompasses 560 buses serving over 1100 bus stations and stops and a total of 24 routes; that to date witnessed 180,000 trips with over 2 million passengers.
The second stage of the 'Riyadh Bus' expansion witnesses the coverage of 1120km out of 1900 km of the total service covering the Saudi capital, with subsequent stages to follow within the five-stage launch plan to introduce more buses, stations as well as routes. In line with the sustainability strategy for the city and driven by the need to reduce pollution with a focus on positively impacting the quality of life, 'Riyadh Bus' will help alleviate traffic congestion and reduce air pollution resulting from carbon dioxide emissions. The integration of a public transportation network plays a significant role in the city's development that will help boost the local economy, support logistics and transportation needs, and improve the urban environment. With the aim of reducing pollution and positively impacting the quality of life for the people, the project is a main pillar in the city's economic and urban transformation. With a theme that builds on 'more routes, stops, and buses' the 'Riyadh bus' stage 2 campaign covers key announcements featuring the 'Riyadh bus' app enhancements and ticket offering. The enhanced functions on the app include 'choose your journey' ease of selection, payment processes, and live bus tracking; which will further ease the usage of the app for the passengers helping in faster ticket purchase and seeing their routes live to select the best trip options. More ticket options have also been added as passengers can select from purchasing a 3-day, 7-day, and 30-day passes.
Contract signed to operate and manage a hotel in Saudi Arabia
Saudi Real Estate Co. (Al Akaria) signed an agreement with Hilton Worldwide to operate and manage the Canopy by Hilton Hotel within the Porta Jeddah project on June 18, 2023. The contract has a term of 20 years with no specific value as the operator receives a share of the revenue and profit, as compensation for managing and operating the hotel. The hotel will be located in An-Nahdah district, Jeddah. It will feature 183 keys and 55 serviced apartments complemented with an array of F&B outlets, meeting space, as well as leisure and sports facilities. The financial impact of the agreement is expected to be realized upon the commencement of hotel operations, which is anticipated in 2028.
New agreement signed to support the development projects in Saudi Arabia
Saudi Arabia's Knowledge Economic City (KEC) has signed a framework agreement with China Gezhouba Group International Engineering Company (CGGC) to support the development of the Saudi company's projects. Under the six-month agreement, CGGC will cooperate in the engineering, procurement, and construction (EPC) phase for KEC projects, such as Hub Residence, Al-Alya mixed-use project, and South Area infrastructure.
In addition, CGGC will work with KEC to implement project planning, commercial proposal, and technical proposal for other projects such as KEC Hub Hospitality, Islamic World District project, sewage treatment plants and the South Suburb project. CGGC, along with its China Energy Engineering Corporation and other affiliates, will work with Chinese financial institutions in financing, finding potential investors or enter with KEC into equity investment, directly or indirectly, through funds or other capital structure, to participate in the development of projects. The move is in accordance with Saudi rules and regulations of foreign investment, which enables the implementation of the targeted projects that aim to provide about 16,600 hospitality and residential units and other components of the projects.
MoU signed to expedite decarbonization in Saudi Arabia
ACWA Power, has announced a significant milestone in its pursuit of renewable energy excellence. The company has signed a memorandum of understanding (MoU) with Huawei Digital Power, a leading global provider of digital power products and solutions, to establish a joint-innovation program, to drive the growth of local industries and expedite decarbonization targets of the Kingdom of Saudi Arabia. The joint initiative between ACWA Power and Huawei Digital Power will focus on developing cutting-edge technology that optimize the efficiency and reduce costs associated with renewable energy projects. By leveraging local expertise and resources, the partnership aims to drive advancements in renewable energy production and energy storage projects, enabling a sustainable and economically prosperous future.
The research and development program will yield groundbreaking solutions to enhance renewable energy projects in Saudi Arabia. The collaboration will focus on the design of photovoltaic (PV) strings, maximizing solar module capacity while reducing the number of strings required for each project. This innovation will significantly lower the balance of system (BOS) costs, reducing installation and maintenance costs. Additionally, the partnership will explore the implementation of microgrid simulations to optimize performance based on specific energy needs. The development of advanced controllers will improve energy management, load balancing, and grid stability, enabling microgrids to seamlessly adapt to changing conditions. These advancements will increase renewable energy utilization, promoting a reduced reliance on fossil fuels. ACWA Power will be able to implement these controllers in any project that integrates and hybridizes power generation, energy storage, and loads.
$532m agreement signed for building an integrated bunker station in Saudi Arabia
The Saudi Ports Authority (Mawani) has signed a deal with Alba Nova International and Trafalgar Company to set up an integrated bunker station at King Fahad Industrial Port in partnership with the Ministry of Energy. With an eye on taking the nation's tally of world-class logistics centers to 30, the proposed SR2 billion ($532 million) development is key to Mawani's ambition to position Saudi Arabia as a logistics hub of choice at the crossroads of three major continents in line with the ambitions of the National Transport and Logistics Strategy (NTLS). The facility is similarly crucial in fulfilling the objectives of the Ministry of Energy to raise the kingdom's share in the regional bunkering market to 10 million tons through increased partnerships with major oil storage companies. The operator of the 393,000 sq. m. refueling hub intends to build oil tanks to store, trade, and blend petroleum products over two stages, with each phase seeing new 1.2 million metric-ton-capacity facilities taking shape over 196,000 sq m. The strategic agreement was signed at Trafalgar Company. The overall holding capacity for the pioneering project is expected to hit 2.5 million metric tonnes on completion. A total of 144 storage units, ranging from diesel tanks, benzene tanks, and heavy fuel oil tanks among others, will be erected at each stage. Capable of holding 8,650 metric tons apiece, these state-of-the-art facilities are designed to serve the national petroleum industry and cater to local and global market requirements in an efficient and high-quality manner.
Based in Yanbu, King Fahad Industrial Port is the Kingdom's - and the Red Sea's - largest trade hub for crude oil, refined petroleum, and petrochemicals. With a throughput capacity of 500,000 tons and an infrastructure spanning 34 berths and ten terminals, the port is strategically located to serve the East-West global trade routes.
High-voltage underground cable project to be implemented soon in Saudi Arabia
KEIR International, Saudi Arabia has received a letter for a project with the Saudi Electricity Company's Subsidiary National Grid SA to implement a high-voltage underground cables. The value of the Project is SAR 80.3 million. The Scope of Works includes implementation a high-voltage (HV) underground cable project to connect the West Taiba station within the program to enhance the major cities in Madinah.
Contract to be awarded for potable water network in Saudi Arabia
Saudi Arabia's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its $130 million Bisha Drinking Water Networks project (Contract 1) located in Bisha Governorate, Asir Region by the fourth quarter of 2023. The tender for the EPC contract was issued on 8 June 2023 and the bid submission is scheduled on 23 July 2023. The EPC contract is expected to be awarded in first week of October 2023. The scope of work involves the construction, supply, installation and testing of high-density polyethylene (HDPE) pipes with diameters of 110-200 inches and a total length of 95 km, and ductile pipes with diameters of 300-800 inches with a length of 20 km. The project is slated for completion by the third quarter of 2026. The estimate of the project cost is $130 million.
Offshore project contracts awarded in Saudi Arabia
The Hydrocarbon business of Larsen & Toubro (L&T) has secured an offshore project from a prestigious overseas client. The scope of work comprises engineering, procurement, construction & installation for new offshore structures. The company specified that as per its classification, the significant project will be over USD 122 million.
Largest steel structure manufacturer to be built in Riyadh
China's State Construction Engineering Corporation (CSCEC) is negotiating with Saudi Arabia's Public Investment Fund (PIF) to build the largest steel structure manufacturer in Riyadh, with production capacity of 800,000 tonnes a year.
$10bln investment agreements signed across various sectors in Saudi Arabia
The 10th Arab-China Business Conference, the largest edition to date and the first hosted by Saudi Arabia, marked its first day with the signing of $10 billion in investment agreements. The agreements spanned more than 30 deals across an array of sectors including technology, renewables, agriculture, real estate, minerals, supply chains, tourism and healthcare. The program of plenaries, workshops, special meetings and side events dedicated to topics such as ESG and supply chain resilience attracted more than 3,500 business leaders, innovators and policymakers from 26 countries. The B2B deals signed on the sidelines of the event included, a $533 million deal between the AMR ALuwlaa Company and Zhonghuan International Group (Hong Kong) Limited to establish a factory to reduce iron ore and manufacture iron pellets for smelting plants in Saudi Arabia. It included a $500 million cooperation agreement between Saudi Arabia's ASK Group and the China National Geological & Mining Corp. for the development, financing, construction and operation of an Arabian Shield copper mining project.
A $266 million framework agreement was signed between Mabani Al- Safwah Ltd, China Gezhouba Group International Engineering Co., Ltd. and Top International Engineering Corporation Arabia Ltd. for advanced building construction in the Kingdom. The government-to-business (G2B) agreements included, a $5.6 billion agreement between MISA and Human Horizons, a Chinese developer of autonomous driving technologies and manufacturer of electric cars under the HiPhi brand, to establish a joint venture for automotive research, development, manufacturing and sales. A $266 million deal was also signed by MISA with Hong Kong-based Android developer Hibobi Technology Limited to develop tourism and other apps, and a $250 million deal facilitated by MISA between Saudi railway company SABATCO and Chinese state-owned and publicly traded rolling stock manufacturer CRRC to manufacture rail wagons and wheels in Saudi Arabia. It included a $150 million deal between MISA, the Ministry of Industry and Mineral Resources (MIM) and Chinese industrial manufacturer Sunda to manufacture caustic soda, chlorine and derivatives, chlorinated paraffin, calcium chloride, poly vinyl chloride (PVC), and related conversion products in the Kingdom.
Agreement signed to build up a new luxury resort in Saudi Arabia
King Abdullah Economic City (KAEC) has announced a landmark agreement with Vivienda, a well-known hospitality brand owned by the Forus Real Estate Investment and Development Company in the kingdom, for setting up a luxury resort within KAEC, thus marking Vivienda's 6th prime location. As per the deal, Vivienda has acquired 29,000 sq m plot of land from KAEC for the construction of its integrated tourism complex (ITC) within the prime development centrally situated on the Saudi Arabian coast of the Red Sea.
The exquisite luxury hospitality project will feature a mix of 60-key boutique hotel, 20 luxury villas as well as 24 serviced apartments, all designed in style to offer guests maximum privacy, comfort, and impeccable service. This will be Vivienda's 6th prime location. Situated on a stunning shoreline spanning 275 m, the KAEC property will boast bespoke amenities and facilities, further enhancing the tourism landscape in the region. KAEC, situated by the pristine waters of the Red Sea, is a multi-faceted lifestyle residential communities, tourist, entertainment, and leisure destination catering to visitors and residents of all ages. The Vivienda resort in KAEC not only expanded the hospitality brand's footprint but also contributed significantly to the goals outlined in Saudi Vision 2030 regarding the development of the hospitality and tourism sector. KAEC's partnership with Vivienda aligns with this objective, poised to attract more visitors to experience the kingdom's rich cultural heritage. The luxury resort in KAEC will feature a range of exceptional facilities, including restaurants, outdoor pools, recreational lounges, gyms, and more. Additionally, guests can enjoy personalized services such as in-villa dining, chauffeurs, a dedicated butler service, and concierge, ensuring a world-class luxury experience.
$373m invested for development of power grids in Saudi Arabia
Electricity networks across three Saudi governates are set to undergo SR1.4 billion ($373 million) worth of improvements to reduce the areas' liquid fuel consumption and carbon emissions. State-owned Saudi Electricity Co. will invest the money across Rafha, Al-Wajh and Najran. Ensuring reliability and continuity, the company aims to maximize electric power generation units for network efficiency and subscribers’ benefits.
The first scheme will link Rafha to the public electricity network in the eastern sector via a 380 kilovolt overhead line spanning 328 km. Connecting Al-Qasima to Rafha, the line will have a capacity of 1,650 kilovolt-amps.
Secondly, the Al-Wajh governorate will be connected to the Green Duba power station through an overhead line spanning 210 km. This link will strategically connect the northwest network to the western region network.
The SEC added that the third scheme would join the Najran region with the Al Fara'a station in the Asir region with an overhead line reaching 236.5 km. The third scheme will also secure additional energy as the electrical networks in the southern and Najran regions become more reliable.
SEC plans to further develop its distribution and transmission lines, and potentially achieve 23 percent automation within its distribution grid. The firm's vision revolves around integrating the environment, economy and social issues into the firm's corporate cultural and economic values to accomplish the greater objectives of sustainable development.
$108 billion investments attracted for industrial cities in Saudi Arabia
Saudi Authority for Industrial Cities and Technology Zones (Modon) has attracted over 405 billion Saudi riyals ($108 billion) in investments from the private sector. The number of factories opening in 36 industrial cities reached 5,926, while logistics facilities touched 290. Covering an area of more than 198 million square metres, the industrial cities have concluded 7,242 industrial, logistical and investment contracts so far. The authority also signed agreements to develop 178 purpose-built factories in the same industrial city.
Planning to open new resorts in Saudi Arabia
Four Seasons Hotels and Resorts is planning to open 10 hotels across Saudi Arabia. The projects are in various stages of development. The company will open a new project at Jeddah Corniche, comprising 269 rooms, 21 hotel apartments and 64 residential units. Four Seasons has also signed a deal for a 150-key hotel in Diriyah district and will own and operate a new resort in NEOM's Sindalah Island. In addition, the hotel chain will operate a resort in The Red Sea Project.
Partnership agreement signed to setup a factory in Saudi Arabia
EPC contract is expected to awarded for water pipeline construction in Saudi Arabia
Saudi Arabia's National Water Company is expected to award the engineering, procurement, and construction (EPC) contract for the second phase of the Riyadh Water Strategic Plan, also known as Contract No. 5 - Phase 1, by the fourth quarter of 2023. The tender for the EPC contract was released on 4 June 2023, and the initial bid submission deadline is set for 16 July2023. The awarding of the EPC contract is anticipated to take place during the first week of October 2023. The project's scope encompasses the installation of main water pipelines using ductile iron pipes with varying diameters (1000, 300, 400, 600, and 800 mm) over a total length of 48 kilometres. The project is scheduled for completion by the fourth quarter of 2025, adding that his estimate of the project's cost is $100 million.
Agreement signed for a carbon negative concrete project in Saudi Arabia
The Red Sea and Amaala has reached an agreement with Partanna, the pioneer of the world's first carbon negative concrete, for a pilot project that will see the installation of 11,000 paving slabs within its mega development. The pavers will be placed at RSG's landscape nursery, the largest in the region at one million sq m, which is set to grow more than 30 million plants by 2030 to landscape The Red Sea and Amaala destinations. Under the arrangement, both parties will scope out future pilot projects – including applications of Partanna's ocean-resilient concrete as an infrastructure solution to coral reef restoration projects at Red Sea Global.
Using recycled ocean water brine in its concrete, Partanna's innovative solution is better suited to under-ocean conditions than traditional concrete, and has been proven to be more durable. Partanna is as durable, versatile and scalable as traditional cement. Its use of brine as a core ingredient brings unique benefits to the Middle East, where desalination plants can harvest more fresh water per liter processed and provide Partanna with the rest. The pilot project will see the manufacture, delivery and installation of an initial 11,000 carbon negative pavers.
Announcement of a new storage facility in Saudi Arabia
Amazon's Saudi unit has doubled its storage capacity with the launch of a new fulfillment centre in capital Riyadh, spanning 390,000 sq ft across five floors - approximately the size of five football fields. The centre will have a storage capacity of 2.7 million cubic feet, and will be able to store over 9 million products, enabling Amazon to delight customers with a wider selection of products across electronics, appliances, groceries, fashion, books, and more. This expansion will support more Saudi entrepreneurs and sellers to scale their businesses online. Amazon's expansion supports Saudi Arabia's logistics sector - one of NIDLP's four key sectors – bringing the latest innovations and technologies in ecommerce operations to the country. The new Fulfillment Center in Riyadh will further unlock the value of the Kingdom's resources by empowering local startups and entrepreneurs with improved global connectivity and access to new markets.
As the Kingdom accelerates towards a digital economy with a growing ecommerce market, the new Fulfillment Center will double Amazon's total storage capacity in Saudi Arabia. In support of Saudi Arabia's rising entrepreneurship culture and rapid development of small and medium enterprises (SMEs), the enhanced capacity will empower independent sellers to scale their businesses online. In order to reach a wider customer base faster and more efficiently, Saudi sellers can take advantage of the Fulfilled by Amazon (FBA) offering that allows them to store, pick, pack and ship customer orders through Amazon. The new Fulfillment Center is Amazon's most advanced in Saudi Arabia and brings 25+ years of global logistics technology and innovation in line with the Vision 2030 goal of establishing the Kingdom as the go-to logistics hub for the region. The new facility incorporates innovative solutions powered by Artificial Intelligence and Machine Learning in its operations and more than two and a half kilometers of conveyance equipment to ensure seamless fulfillment operations.
$2 billion seismic contracts awarded for oil company in Saudi Arabia
Chinese seismic giant BGP has won multiple multibillion-dollar deals from Saudi Arabia's state-owned Saudi Aramco to conduct onshore and offshore seismic surveys in Saudi Arabia. Two onshore and three offshore 3D seismic contracts are valued at about $2 billion. Increased exploration and expansion projects in the Middle East have seen scaled up activities by Chinese service companies. China Oilfield Service Ltd Company, Offshore Oil Engineering Company and BGP have all refocused their businesses in the area, where the likes of Aramco, Abu Dhabi National Oil Company (Adnoc) and QatarEnergy have raised their capital spending for exploration in order to meet new production targets.
New contract signed for retrofitting the tower in Saudi Arabia
The National Energy Services Company (Tarshid) has signed a contract with the Trade Center Company, a unit of Saudi-based Kingdom Holding, to start the detailed study required for retrofitting the Kingdom Tower in Riyadh and its associated facilities. This aims to increase energy efficiency and reduce energy consumption in the tower, which is one of Riyadh's prominent skyscrapers and a symbol of the capital's cultural identity. The joint collaboration is intended to enhance energy conservation efforts and implement sustainable energy efficiency solutions in all buildings across the Kingdom of Saudi Arabia, in line with the goals of Vision 2030. It will conduct field surveys and technical studies for the targeted buildings and facilities. Based on the findings of the study, Tarshid will advise on the best solutions to save energy and reduce consumption in the Kingdom Tower.
The energy efficiency retrofit project for the Kingdom Center will focus on five measures: lighting replacement, replacement of split-wall air conditioner units, retrofitting cooling systems (chillers), controlling of air conditioning units, installation of solar panels, and upgrading the building management systems (BMS). These measures will result in increased energy efficiency and reduced consumption in the Kingdom Center project. A major regional player, Tarshid is actively involved in retrofitting buildings in both the public and private sectors to increase energy efficiency. The Kingdom Center project is one of Tarshid's significant partnerships with the private sector, and the company encourages other private-sector companies to adopt a similar approach to environmental sustainability, resource preservation, and finding the best energy efficiency solutions for all buildings and facilities.
Consultancy contract announced for a residential villas project in Saudi Arabia
Saudi-based Maximiliano Development Management Services (MDMS) announced that it been appointed by Sumou Real Estate to provide design consultancy services for Al-Aselah Residential Villas Project in Al-Fursan Suburb, Riyadh. MDMS will collaborate with Adeer, the exclusive provider of marketing services for the project, as part of the agreement. Spread over an area of 82,500 square metres, Al-Aselah features 326 villas. The external designs draw inspiration from Salmani architecture, promoting authenticity, creativity, flexibility, and harmonious integration with nature and climate.
New contract awarded for residential apartments in Saudi Arabia
Scandinavian Industrialized Building System (SIBS), has been awarded a contract to deliver 2,174 apartments covering 35 buildings at Saudi futuristic city NEOM. Located in the kingdom's northwest, NEOM is one of the world's largest urbanization projects and will be a centre of world-leading innovation with a new model for how people live and develop sustainably. These homes, which will boast quality design and layout, are being set up within the primary staff accommodation and office cluster at the mega development.
Equipped with designer kitchens, exclusive bathrooms and balconies, these one- and two-bedroom apartments are being set up for the planning, engineering and construction staff. All these buildings will have solar panels on the roofs along with other efficient building solutions. As per the engineered equipment supply contract, SIBS will deliver the turn-key buildings by Q3 next year.
Announcement of a contract award for a new graphite complex in Saudi Arabia
Chevron Lummus Global LLC (CLG) announced a recent contract award from TAQAT Development Company for a new 75,000 TPA needle coke/synthetic graphite complex in Rabigh, Saudi Arabia. Under the agreement, Chevron Lummus Global will provide pilot plant testing, licensing, basic design, and additional engineering and operations support. The feedstock will be supplied by Rabigh Refining & Petrochemical Company (Petro Rabigh). The grassroots complex will utilize CLG's two-step coking process to convert feedstock streams, which would otherwise be used as fuel oil, into high-quality needle coke, and synthetic graphite. This process helps to reduce environmental impact by repurposing feedstock streams that would otherwise be considered lower-value or waste materials into valuable products, contributing to a more sustainable approach to resource utilization.
SAR 10.22 million contract awarded for an electrical project in Saudi Arabia
Rawasi Albina Investment Co. signed a contract with Shabakkat Cellular Co., at a total value of SAR 10.22 million (including value-added tax). Under the 16-month contract, the company will implement the project of replacing the existing electrical conventional ring main unit (RMU) with smart RMU equipment.
Announcement of submission of interests in healthcare projects in Saudi Arbia
The Saudi Ministry of Health (MoH) and the National Centre for Privatisation & PPP (NCP) announced that a total of 200 companies submitted 424 expressions of interest in three healthcare Public Private Partnership (PPP) projects in Riyadh and Eastern regions. The Expression of Interest (EOI) tenders for the Long-Term Care (LTC) and Skilled Nursing Homes (SNH) Project; Medical Rehabilitation Hospitals Project and Home Healthcare Project for the Second Health Cluster in Riyadh region, and the First Health Cluster in the Eastern region in Dammam were issued on 13 March 2023 and closed on 16 April 2023. The three projects attracted the interest of companies from 21 countries across Asia, Europe, Australia, North America and the Middle East. A total of 139 companies from 16 countries expressed interest in the Extended Care project, 131 companies from 17 countries in the Medical Rehabilitation project and 154 companies from 14 countries in the Home Healthcare project. Saudi companies represented the majority of the submissions at about 70 percent. The Tadawul-listed Future Care Trading Company said it had been shortlisted to participate in the Home Healthcare project, which involves providing home-based healthcare services to 10,000 patients in Riyadh and Dammam.
The project details are as under:
Long-Term Care (LTC) and Skilled Nursing Homes (SNH) Project: Design, development, financing, maintenance and operation (medical and non-medical) of long-term care and skilled nursing home with a capacity of 200 beds and nursing care centres with a capacity of 100 beds for each region.
Medical Rehabilitation Hospitals Project: Design, development, financing, maintenance and operation (medical and non-medical) of medical rehabilitation hospitals with a capacity of 150 beds and 120,000 therapy sessions for outpatient patients for each region.
Home Healthcare Project: Medical services for 5,000 active patients in each region.
New partnership established to develop data centers in Saudi Arabia
The US-based DigitalBridge Group, Saudi Arabia's Public Investment Fund has joined as an investor in its new venture aimed at developing data centres in the Kingdom and other Gulf Cooperation Council (GCC) countries. The partnership will initially focus investments in the data centre sector and is expected to explore other future digital infrastructure segments, including macro towers, fibre, small cell, and edge infrastructure. The investment aims to localise cutting-edge technologies and support knowledge transfer to develop and operate hyperscale data centres and database servers in Saudi Arabia and the GCC region.
New contracts awarded to establish OHTL in Saudi Arabia
The Power Transmission & Distribution (PT&D) Business of Larsen & Toubro (L&T), Construction announced that in the Kingdom of Saudi Arabia (KSA), the Business has secured two orders to establish 380kV overhead power transmission lines connecting prominent cities situated on the Red Sea coast. These systems will strengthen projects that involve 400KM of transmission lines to meet the growing demand in these industrial and tourism hubs. Another order has been secured to design, supply, and construct a 380kV substation in the central region of KSA. The substation will be a crucial element to evacuate renewable capacity as part of the Kingdom's diversification to non-fossil fuel sources in their electricity mix.
Announcement of a planning to create a new resort in Saudi Arabia
The Royal Commission for AlUla (RCU) has announced its plans to create a new resort as part of the Journey Through Time (JTT) masterplan, reflecting a harmonious integration with the pristine natural environment and aligning with the Sustainability Charter for AlUla, Saudi Green Initiative, and Vision 2030. The AZULIK AlUla Resort, nestled within the Nabatean Horizon District of the JTT masterplan, will be an eco-luxury property. Situated near the AlMutadil Equestrian Village development and the upcoming Wadi AlFann, an ancient valley to be adorned with captivating large-scale artworks, the resort is set to captivate visitors. Anticipated to open its doors in 2027, the resort will encompass 76 opulent villas featuring six distinct styles. Alongside lavish accommodations, guests will enjoy a spa, VIP club, welcome lounges, all-day dining options, and the intriguing SFER IK museum. Embracing the natural ecosystem and the surrounding sandstone cliffs, the resort's exterior design will seamlessly flow, showcasing the use of natural materials and intricately woven fibres in multiple layers.
AZULIK AlUla Resort will promote connection with AlUla's heritage and the area's ecology and biodiversity. For example, the development will protect and incorporate nearby ancient rock art inscriptions, and utilise a natural system of existing waterways to feed irrigation and safeguard against floods. No private vehicle traffic will be allowed on-property; instead an all-electric mobility system will be provided, along with horse and camel routes, and hiking trails for guests to enjoy the surroundings. Operated by Mexican luxury brand AZULIK and designed by Roth Architecture, the resort will offer elegant accommodations for guests and provide socioeconomic benefits for the AlUla community. Once fully operational, AZULIK AlUla Resort will create more than 300 new jobs. Along with local materials and contractors sought for construction, most operational supplies will be sought from AlUla and wider KSA to further boost regional economic growth.
$3.25 billion Contract awarded to develop three new solar IPP in Saudi Arabia
The Water and Electricity Holding Company (Badeel), a wholly-owned company of the Public Investment Fund (PIF), and ACWA Power announced the signing of power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC) for the development, and operation of three major new solar PV Independent Power Producer (IPP) projects in Saudi Arabia. These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households, with a combined value of SAR12.2 billion (US$3.25 billion). Financial close for these projects is expected by the third quarter of 2023. The Project are:
The Ar Rass 2 project having capacity of 2,000MWac
Saad 2 project having capacity of 1,125MWac
Al Kahfah project having a capacity of 1,425MWac
The solar projects are part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy, with PIF mandated to develop 70% of NREP's target capacity. The new projects will be jointly owned by Badeel and ACWA Power, a leading developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide.
Approval finalized for developing a resort masterplan in Saudi Arabia
Saudi Arabia's Eastern Province Municipality has granted its final approval to a revised Ajwan Resort masterplan. INOVEST holds a 37.6 percent stake in Saudi-based First Gulf Real Estate Company (FGREC), which owns Ajwan Resort. Previously known as Dannat Resort, Ajwan Resort, located in Half Moon Bay in the Eastern Province, spans an area of 1 million square metres with approximately 1.25 kilometres of open waterfront. The revised master plan with residential, commercial and leisure elements followed extensive consultations with Saudi property developer Sumou Holding, which is handling the resort's development in partnership with FGREC.
Key elements of the revised masterplan:
- Optimisation of land use for residential zones to better fit the area
- Sea-facing luxury villas and townhouses with dedicated beach access
- Increase in green zones and well distributed landscaped recreational areas
- Centralised retail with indoor and outdoor outlets
- Improved access to allow for fluidity in traffic movement in and around the area.
- Increase in the size of the resort to allow integrating additional amenities and service offerings for creating a holiday destination
$330 million contract signed to establish cement production line in Saudi Arabia
Saudi-based Southern Province Cement Company has signed a deal with Sinoma International Engineering Company to build a new production line with a total capacity of 5,000 tonne per day. The contract, which is worth $330 million, will also see the Chinese group lay the infrastructure for a similar production line in the kingdom. The entire project will be funded by a local bank and is due for completion within 30 months. The study of technical and financial offers from the companies that applied to compete for the implementation of the project had been completed & work was underway to draft and review the contract, and it will be signed after completing the necessary procedures.
MoU Signed to establish luxury hotels in Saudi Arabia
The Tourism Development Fund (TDF) has announced the signing of a MoU with an affiliate of Hyatt Hotels Corporation to establish luxury hotels across the Kingdom of Saudi Arabia. The collaboration aims to develop several hospitality-led destinations which will enhance the tourism offering in Saudi Arabia. These destinations may include beach and urban hotels, as well as mountain, desert and farm retreats. They will be developed under Hyatt's existing trademarks, such as Alila Resorts, which offer an authentic wellness destination experience, or other trademarks such as Park Hyatt, Hyatt Centric, Grand Hyatt and any other Hyatt brands mutually agreed upon by the entities. The development of these hotels would be part of the Kingdom's National Tourism Strategy and in line with Saudi Vision 2030. This collaboration with Hyatt will help us to attract tourists and ensure that they receive a comfortable, high-quality experience in the Kingdom's top tourism destinations. The fund intends to provide financial resources and expertise to entrepreneurs worldwide looking to invest in the ten key destinations across Saudi Arabia that offer huge prospects across the tourism value chain.
Investment agreement signed to build a hospital in Saudi Arabia
Saudi-headquartered Dr. Sulaiman Al Habib Medical Services Group (HMG) has signed a conditional investment agreement with the Royal Commission for Jubail and Yanbu (RCJY) to construct and operate a hospital in Al-Dafi district of Jubail Industrial City. A land plot of 115,500 square meters has been allocated for the hospital. The company will submit the engineering drawings and project specifications, including the proposed development area and infrastructure works, for approval to RCJY within 12 months. Following the approval of the final engineering drawings, RCJY will finalise the investment agreement with HMG to lease the land for 50 Hijri years at an annual rent of 1.15 million Saudi riyals.
$346 million Contracts signed for twelve new hotels in Saudi Arabia
Saudi Ministry of Tourism has announced the signing of an agreement with InterContinental Hotels Group (IHG) and Tasheed Contracting Company for the development of 12 new hotels across the kingdom. These hotel properties, which are expected to provide 2,500 rooms in total, will be built at a total investment of SR1.3 billion ($346 million). The target cities for the hotels include Makkah, Madinah, Riyadh, Jeddah, Taif, Abha, Tabuk, Jazan, AlUla, Al-Bahah, Yanbu, Hail, Al-Ahsa and Najran.
MoU signed to develop hospitality and tourism projects in Saudi Arabia
The Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding (MoU) with the Radisson Hotel Group to develop hospitality and tourism projects across the Kingdom of Saudi Arabia. Under this agreement with the TDF, Radisson plans to grow its portfolio by a further several hotels to a total portfolio of over 50 hotels in the kingdom. According to TDF, the first project under this memorandum is expected to be announced in H2 of 2023. The strategic partnership between the two parties will see the development of several properties focused on urban hotels, resorts, serviced apartments and other unique assets with the objective of enhancing the tourism offering in the country.
The properties will be developed over the next several years in the targeted destinations under the Saudi National Tourism Strategy and in line with the Saudi Vision 2030. These investments provide nationals, residents and visitors with more tourism and leisure options, enhancing the quality of life across the kingdom.
Partnership established to develop hospitality projects in Saudi Arabia
Minor Hotels has partnered with Saudi Arabia's Tourism Development Fund (TDF) to collaboratively develop and manage top-tier hospitality and lifestyle projects in Saudi Arabia. The focus will be on mountain resorts, wellness resorts, and urban hotels. The first project under this partnership will be announced in the second half of this year, 2023. This strategic partnership between Minor Hotels and TDF will involve the development of multiple hospitality projects in exclusive regions of Saudi Arabia over the next few years. Minor Hotels will serve as the operator and partner in each project, with their flagship brands, including Anantara, Avani, Tivoli, and Oaks, establishing hospitality projects in mutually agreed locations across Saudi Arabia. The development of these hotels and resorts aligns with Saudi Arabia's National Tourism Strategy and the Saudi Vision 2030. The projects will be located in the targeted tourism destinations specified in the National Tourism Strategy and will be announced soon. The Tourism Development Fund of Saudi Arabia connects private sector investors with public funding opportunities to support tourism investment in the country.
As part of this partnership, the luxury brand Anantara will be involved in at least one of the projects. Anantara is renowned for its experience-focused hospitality in exciting global destinations. Avani Hotels & Resorts, known for its contemporary style and value, will also make its debut in the Kingdom through multiple properties developed in collaboration with Minor Hotels. Additionally, properties under other Minor brands, such as Tivoli and Oaks, will be developed within Saudi Arabia.
$4 billion contracts finalised for offshore oilfields in Saudi Arabia
A leading Italian engineering and construction giant has landed a sizeable offshore contract from Saudi Aramco for work on its Marjan oilfield, as a part of the Saudi state giant's long-term agreement (LTA) with international contracting players. Aramco has awarded multiple LTA contracts in recent months aimed at rejuvenating oil production from some of its largest offshore oilfields. More than $4 billion worth of LTA projects have either been awarded this year or are expected to be awarded within days, with multiple engineering, procurement, construction and installation deals to be in their tendering phase.
$133.33 million mixed-use project launched in Saudi Arabia
Riyad Capital, the investment arm of Riyad Bank, announced the launch of 500 million Saudi riyal ($133.33 million) Riyadh Real Estate Development Fund - Durrat Hittin in partnership with Al Ramz Real Estate Company. The fund will develop a mixed-use project in Hittin district in Riyadh on a total area of 27,119 square metres. The mixed-use complex will have a leasable area of 30,000 sqm, comprising offices, retail and hospitality.
Construction commencement of new residential units in Saudi Arabia
Thabat Real Estate Development Company announced the commencement of the first construction phase of the 'Aseeb: project, located in a unique destination between Khobar and Dammam. The project is in the heart of 'Tharwa': Town, the latest smart city in the Eastern Province, in which, through it, the Thabat Real Estate Development Company intends to reflect modern living by building 53 luxurious residential units in the middle of an integrated residential community, facilitating quick access for its residents to the most essential nearby vital areas. The project is a few minutes from the southern Dammam Corniche, Al-Rakah area, and Imam Abdulrahman Bin Faisal University.
The 'Aseeb' project's designs follow the modern style. The residential units and their facilities are rich with the best engineering elements, which elaborately and harmoniously match the surrounding green areas, facilities, service, and commercial points. Furthermore, the residents will benefit from sustainable building specifications, which guarantee them to live in a residential area built on top of a solid foundation and with cutting-edge building standards. The first phase of the 'Aseeb' project will be on sale in the coming months, as Thabat Real Estate Development Company intends to unveil the designs of its upcoming residential units, which come of different areas of 520 square meters for one villa to meet the requirements of Saudi markets in terms of promising building potentials, and distinctive designs.
Tender for development of corniche to be floated soon in Bahrain
Work on the new BD5 million state-of-the-art King Faisal Corniche is set to begin in December 2023. Plans for the project - which will feature family rest areas, investment spaces, light sports and cycling tracks, an open square and a monument for the Supreme Council for Women (SCW) - have been approved by the Capital Trustees Board. The Works Ministry will supervise the project on behalf of the Municipalities Affairs and Agriculture Ministry.The plans were presented for recommendation by the Housing and Urban Planning Ministry. The project will be tendered this month, awarded in August, the contract signed in October, before work begins in December 2023. It would complement a multi-million dinar expansion of a popular seafront mall, which will include an ice rink.
Partnership announced for opening luxury hotels in Saudi Arabia
Accor announced it is partnering with Saudi developer Erth Real Estate Company to open three new hotels in capital Riyadh. The 230-key Raffles Riyadh hotel and the 250-key Sofitel Extended Stay Serviced Residences - would be located within the 4.2 billion ($1.1 billion) Saudi Riyal Al Yasmin District mixed-use project. A 60-villa MGallery Resort Riyadh, the third hotel, would be located in the Al Waseel district in a wadi surrounded by date farms. The company said all three hotels will open by 2027, adding that the lead architect is Foster + Partners.
First dedicated e-commerce logistics facility to be established in Saudi Arabia
A first-of-its-kind dedicated e-commerce logistics facility will be built in Saudi Arabia to target the Middle East. The global distribution center will be constructed by South Korean firm CJ Logistics. Expected to be completed in 2024, the facility will be located in Riyadh's Special Integrated Logistics Zone. The Saudi government established the zone at the King Khalid International Airport to serve as a testament to the Saudi Aviation Strategy under Vision 2030, positioning the Kingdom as a global logistics hub. The company and the Saudi General Authority of Civil Aviation held a ceremony to officiate the launch in Riyadh. A state-of-the-art modern logistics center, the facility will have a gross floor area of 18,000 square meters and a daily throughput capacity of 15,000 boxes.
Multiple offshore contracts to be awarded soon in Saudi Arabia
US contractor McDermott International has emerged as the potential front runner for a trio of coveted offshore contracts due for award under Saudi Aramco's long-term framework agreement with international contractors. Aramco is promising to expand its oil production capacity to 13 million barrels per day by 2027, up from the existing 12 million bpd.
Agreement signed for developing hotels in Saudi Arabia
Rotana announced its ambitious pipeline across the Kingdom of Saudi Arabia at the Future Hospitality Summit (FHS) 2023, signing four Edge by Rotana and one Rayhaan by Rotana property in partnership with Memar Development & Investment, a leading real estate development company specialized in the hospitality development guided by the motto Developing to enhance life. Saudi Arabia presents one of the fastest-growing markets in the region, increasingly establishing itself as a leading tourist destination. These new properties located in the heart of Riyadh include a mix of hotels and serviced apartments, offering our guests diverse options to suit their varying needs. The five new Riyadh properties will add 618 keys to Rotana's growing portfolio. This is in line with the group's target of adding triple the number of rooms it currently runs in the Kingdom to 6,000 over the next four years.
The new Edge by Rotana properties will be interconnected, operating in synergy to ensure efficient workflow and deliver the ultimate guest experience. The properties will offer guests a range of dining options as well as recreational facilities such as pools, gyms, treatments rooms and more. This new development will provide visitors with various experiences gathered in one place. With a variety of dining and recreation facilities being developed across all five properties, residents and visitors of Riyadh will soon have a new place to discover in the city.
Agreement signed for developing a boutique hotel in Saudi Arabia
Saudi Arabia's Tourism Development Fund (TDF) has signed a key finance agreement with Shada Real Estate Development and Investment Company to set up a 4-star boutique hotel featuring 110 hotel rooms in Jeddah. Announcing the strategic partnership at the Future Hospitality Summit (FHIS) in Riyadh, TDF declared the hotel will be characterised by its design, inspired by the local style mixed with architectural touches specific to the Makkah region. Through this deal, Shada Development and Real Estate Investment aims to revive, preserve and highlight the essence of the cultures of the various regions in the kingdom, especially the architectural cultural heritage of the city of Jeddah. TDF's agreement with Shada will contribute to the growth of the kingdom's economy and achieve the goals set out within the National Tourism Strategy.
Agreement signed for developing a 5-star eco-lodge in Saudi Arabia
Saudi Arabia's Tourism Development Fund (TDF) has signed a finance agreement with Golden Frond Hotel Services Company, a subsidiary of the Afyaa Group, to build a five-star ecolodge in the kingdom's Al Ahsa region. To be operated by ENVI Lodges - an eco-friendly, premium quality luxury lodge brand - the new resort will boast 25 lodging pods featuring one- and two-bedroom units as well as several key facilities including farm-to-table dining units as well as spa, local arts and crafts, and a selection of unique activities. Designed by Thai-based Fractal Architects and award-winning design firm Kristina Zanic, the ENVI Al Nakheel Resort is the first branded eco-lodge in Saudi Arabia to be developed by the private sector and funded by the TDF. It is expected to open in the first quarter of 2024. The project development will be managed by Compass and BIC. The agreement demonstrates the commitment of both parties to advance sustainable tourism development, in line with the objectives of KSA's National Tourism Strategy and the Kingdom's Vision 2030. This project will raise the level of tourism offerings in the Kingdom through cultural diversity, traditional methods of construction, and cutting-edge design features.
Plans revealed to expand hotel chain in Saudi Arabia
With Saudi Arabia's travel and tourism sector buzzing with activities offering immense investment opportunities, a top official of the Radisson Hotel Group has revealed that the company is planning to expand its presence in the Kingdom with a total of 100 properties in the next five years. The planned expansion will help create more job opportunities in Saudi Arabia. Currently they have around 50 hotels almost actually in Saudi Arabia; 25 hotels open and 25 hotels under construction. Their plan for the next five years is to double that and that means to have almost 100 hotels. The group would not only focus on key cities in Saudi Arabia to open its hotels but will also concentrate on the upcoming secondary and economic cities. At the region (Middle East), they currently have around 75 (hotels). And the plan is to double that in the next five years to become 150 hotels.
EPC contract to be awarded soon in Saudi Arabia
Saudi's National Water Company (NWC) is expected to award the engineering, procurement and construction (EPC) contract for its drinking water purification plant project in Qulaybah, Tabuk by the third quarter of 2023. The bid submission is currently ongoing and the EPC contract is expected to be awarded by July 2023. The bidders were expected to send a statement of interest on or before 1 April 2023. The bid submission deadline is 23 May 2023. The scope of work involves the construction of a drinking water purification plant with a compact container system. The project is slated for completion by the end of third quarter of 2026.
Agreement signed to develop luxury hotel in Saudi Arabia
IHG Hotels & Resorts, one the of the world's largest hotel groups, with 6000 hotels across 18 brands, has signed a management agreement with The King Abdullah Financial District Management and Development Company (KAFD DMC), a subsidiary of Saudi Arabia's Public Investment Fund (PIF), to bring the first Kimpton hotel in the region to Riyadh, Saudi Arabia. Offering guests a personalized luxury experience, the Kimpton brand has a heartfelt approach to hospitality that has translated to unique, design-led hotels across the globe. The new Kimpton Riyadh will join existing Kimpton properties across countries including the United States, France and Scotland. With doors set to open in June 2024, the 212-key Kimpton Riyadh will mark the first foray of the luxury brand in the region. The debut comes as part of IHG's ongoing growth strategy, aligned with the objectives of Vision 2030 tourism objectives, to cater to a growing number of guests in the Kingdom who seek unique luxury experiences. The Kimpton Riyadh will be a new-build property in the heart of KAFD, Saudi Arabia's prime business and lifestyle destination, making it a key destination hotel for the discerning business traveller. However, in acknowledgement of the new trend towards blended travel, the hotel will also cater to those who seek a lifestyle element to their stay. As such, for those visiting the capital for work, there are several meeting spaces and banqueting areas, including both casual and formal working options. For more leisure time, the hotel will offer five F&B options to guests, including an all-day dining restaurant, a specialty restaurant, a lobby lounge, a lobby living room cafe and a pool bar with mezzanine seating. Kimpton Riyadh will also host an outdoor amphitheater terrace, health club, and an outdoor swimming pool. Aligned with IHG's luxury halo vision for Kingdom of Saudi Arabia and the wider IMEA region, the new property seeks to cater to corporate executives and high net worth Saudi Arabian families looking for a luxury lifestyle element to their hotel, so that they can welcome visiting family and friends as part of their stay. The luxury lifestyle offering will meet that requirement and we are looking forward to expanding further into the region in the coming years.
Contract awarded for a transmission line project in Saudi Arabia
Nesma Infrastructure & Technology (NIT), Saudi Arabia announced that it has been awarded a contract by National Grid to construct a 115kV overhead transmission line between Ain Dar and Abqaiq, more than 40 kilometers. The SAR 68 million project will be completed in three phases and will include the construction of 125 towers. The project is expected to take 25 months to complete.
Management agreements signed for four new hotels in Saudi Arabia
Dubai-based Hospitality Management Holding Group (HMH) has signed management agreements for four new hotels in Saudi Arabia, at the Arabian Travel Market (ATM 2023) in Dubai. The key properties are Coral Makkah, Corp Al Madinah, Corp Yathrib and Corp Makkah. with this deal the group's hotel portfolio in the Mena region will get expanded from 13 to 18 hotels, across different categories. Coral Makkah Hotel is a premium 4-star hotel located in the Saudi city featuring 230 rooms. Located in the Al Naseem suburb, it offers guests and pilgrims unparalleled access to the city's most iconic landmarks and attractions. It aslo provides them a host of modern amenities including a spacious ballroom, multiple dining options featuring a variety of international cuisine, a gym, a luxurious beauty salon, and a Spa and Hamam therapy centre. Corp Al Madinah is a 150-key family-friendly hotel that offers guests an extensive range of premium amenities, including well-appointed guest rooms equipped with state-of-the-art air conditioning, a fully stocked minibar, a comfortable seating area, and complimentary Wi-Fi access. Corp Yathrib is a 340 keys property conveniently set near Madinah, offering air-conditioned rooms with private parking and room service. It is located near Quba Mosque and Al Masjid An Nabawi and around 6.9 km away from Qiblatain Mosque. Corp Makkah is a 230-key hotel located in the Al Naseem suburb. The hotel's amenities include a spacious ballroom, restaurants, a well-equipped gym, a beauty salon, and a Spa and Hamam therapy center. The group has adopted the strategy of expanding its hotel portfolio in the region's markets, primarily targeting the Saudi market due to the robust growth of its hospitality sector.