Deal signed to build indoor vertical farms in Saudi Arabia
Saudi sovereign wealth fund PIF (Public Investment Fund) has signed an agreement with AeroFarms, a US-based commercial market leader in vertical farming, to set up a new company in Riyadh that will build and operate indoor vertical farms in the wider Mena region. The partnership aligns with PIF’s strategy, which focuses on developing and enabling the capabilities of key sectors, including food and agriculture, which will contribute to improving trade balance, localize technologies, develop industries and the overall growth and diversification of the Saudi economy.
The first farm in Saudi Arabia, which is expected to be the largest indoor vertical farm of its kind in the region, will have an annual production capacity of up to 1.1 million kgs of agricultural crops. The agreement with AeroFarms will lead to the establishment of indoor vertical farms in Saudi Arabia and the wider MENA region, increasing regional reliance on locally produced, high-quality crops grown in a sustainable way using the latest technologies.
Bidding underway for $10 billion-plus offshore oilfield expansion in Saudi Arabia
Saudi Aramco’s $10 billion-plus expansion of its giant Safaniyah offshore oilfield has been hit with fresh delays, with the bid submission for multiple tenders being pushed back to the end of March 2023 at the earliest. The deadline for technical and commercial bids for up to 10 sizeable contracts involving Safaniyah has been pushed back to 31 March, 2023. The Safaniyah bids were previously expected to be submitted in early December 2022, but the deadline was later pushed back towards the end of January 2023.
Agreement signed to set up model housing districts in Saudi Arabia
Saudi developer Roshn announced it has signed a co-operation agreement with the Eastern Province municipality for establishment of model residential districts in the region. The deal also covers the design and application of the urban code and infrastructure. It is part of the Roshn’s commitment to creating urban communities throughout Saudi Arabia which feature pedestrian-friendly streets, green spaces, and retail facilities, as well as hospitals, medical centres, mosques, and sports facilities. As per the agreement, the duo will co-operate on establishing model residential districts, in addition to designing and applying the urban code, infrastructure, as well as building controls stimulated by the Eastern Province's urban legacy. The deal also looks to signify suitable sites and include them into regional and local preparations in line with the Strategic Vision for Regions and Cities.
Management agreement signed for a newest hotel in Saudi Arabia
Dubai-based Hospitality Management Holding (HMH) has signed the hotel management agreement of its newest hotel property Corp Yanbu Hotel and Residence in the Kingdom of Saudi Arabia. Located in the western port city of Yanbu and facing the red sea, the hotel boasts of 112 keys with a combination of spacious guest rooms and hotel apartments and state-of-the-art amenities with unparalleled service. It would incorporate cutting-edge design, while offering exceptional comfort, convenience, superior service, and excellent value, all underpinned with the latest technology. With breathtaking views from the rooftop terrace, Corp Yanbu Hotel and Residence is designed to cater the needs of families and modern travellers in mind. Guests will enjoy access to on-site dining options, an indoor swimming pool, fitness centre, and a full-service business centre. In addition, Corp Yanbu Hotel and Residence, overlooks the Waterfront Beach and the Marina, making it the perfect choice for both business and leisure travellers.
Tourist & cultural landmark project inaugurated in Makkah
Prince Khaled Al-Faisal, emir of Makkah has inaugurated the Hira Cultural District, located at the foot of Mount Hira in Makkah. The project was implemented by an investment company, under the supervision of the Royal Commission for Makkah City and Holy Sites. Hira Cultural District is a tourist and cultural landmark that speaks volumes about Saudi Arabia’s care for historical sites. It is associated with Mount Hira and Cave Hira, where the first verses of the Holy Qur’an were revealed to the Prophet (peace be upon him), and it enjoys a revered place in the hearts of Muslims around the world. The landmark includes an exhibition that takes the visitor on a journey of knowledge to get acquainted with the cave and this is supported with the latest audio and video technologies. The visitor enjoys watching the cave of Hira through a model of the cave executed in its natural dimensions.
Work is underway to implement a road equipped with sign boards and safety means to meet the need of those who wish to climb the mountain to visit the cave. The district seeks to be a suitable place for the family with all its members, as its content is not limited to adults only; rather, a hall was allocated for children as it enables them to have entertainment and knowledge simultaneously. In addition, visitors can enjoy Hira Park where there are several cafes, restaurants, and other service and commercial facilities. The project is located on an area covering more than 67,000 square meters, and it consists of an Exhibition of Revelations that tells the story of the Revelations to the prophets, all the way to the Last Messenger of God. It will take viewers on an enriching audio-visual journey. It also includes a Museum of the Holy Qur’an, which is the first museum specializing in the Holy Book in Makkah.
Marubeni, Ajlan, UDEI to set up district cooling JV in Saudi Arabia
Japan's Marubeni Corporation announced it has joined hands with two key regional players in the utility sector - Ajlan & Bros for Trading of Saudi Arabia and Qatar's United District Energy International (UDEI) - to enter into the district cooling business in KSA. The Marubeni move comes at a time when the demand for district cooling in KSA is expected to expand due to factors such as continuous population growth and urbanization, vigorous real estate development, and increased motivation for energy conservation. As per the JV deal, the three companies will work jointly to meet the local demand for district cooling services. Marubeni will be utilising its know-how in infrastructure business development and operation in KSA; while the UDEI, which has extensive experience in district cooling, will deploy its expertise for the project and the local network will be taken care of by Ajlan & Bros Holding Group, which is involved in a wide range of businesses in the kingdom. Marubeni had formulated the long-term vision for climate change in March 2021 and had positioned a green strategy as one of its basic policies for enhancing corporate value in its mid-term management strategy GC2024. District cooling is a plant system that supplies chilled water produced by a central plant to multiple buildings through pipelines. By consolidating the cooling facilities and increasing their capacity, it is possible to improve the efficiency of energy use and achieve better usage of floor area compared to having such facilities in individual buildings. This system contributes significantly to decarbonization by optimizing the operation of the cooling facilities and by taking advantage of economies of scalem.
SAR 11.1 mln deal signed for commercial resort building in Saudi Arabia
Al Kathiri Holding Co. announced that its subsidiary, Msandh El Emdad Co., signed a contract worth SAR 11.1 million with ASAR Investment Co. for the implementation of building works of a commercial resort. Under the 140-day contract, the company will carry out the works of supplying and implementing walls, ceilings, stairs and fences using the technology of Alian Industry Factory for Modern Building Technologies) with a load-bearing wall system (Italian M2 technology). It includes the supply, installation, cutting, openings and window work, as per the approved plans and the directives of the supervising consultant.
More than 80,000 residential units under planning in Riyadh
National Housing Co. (NHC) has announced about Al-Fursan District and the second phase of Khozam District in Riyadh, which offer the largest real estate supply in the Saudi capital.
Located 35 kilometres northeast of Riyadh, Al-Fursan spans a total area of 35 million square meters and aims to build more than 50,000 residential units for more than 250,000 people.
Khozam District, situated in the north of Riyadh on a total area of over 21 million square meters, plans to build 30,000 homes for 150,000 people. NHC expected the delivery of these units to start in early 2026. NHC intends to increase home supply in the Kingdom, particularly Riyadh.
Accor signed a deal to run new tourist resort in Saudi Arabia
A new tourist resort is set for the Eastern Province of Saudi Arabia after the Tourism Development Fund signed a memorandum of understanding with two developers. The agreement will see 440 hotel units, 41 villas, and various areas of restaurants, cafes, and recreational facilities over 262,000 sq. m. in Half Moon Beach, with the resort operated by French-based hospitality fim Accor.
SWCC teams up with Carbonco for CCUS projects in Saudi Arabia
Saudi Arabia's Saline Water Conversion Corporation (SWCC) has signed a co-operation agreement with Carbonco, a unit of Korean engineering and construction company DL E&C, for joint research in various Carbon Capture Utilization and Storage (CCUS) projects across the kingdom. The world's largest seawater desalination institution, SWCC is an affiliated organization under the Saudi government. It is also the second largest electricity producer in the kingdom. Through its research center, SWCC is leading carbon reduction projects in the field of seawater desalination and power generation using renewable energy in Saudi Arabia. A specialist in decarbonisation solutions, Carbonco announced it is committed to advancing CCUS technology to apply it to diverse fields, while striving to provide total solutions for it. As per the deal, Carbonco and SWCC will cooperate on the adoption of CCUS technology, which captures carbon from power plants operated by SWCC and utilizes it in the seawater desalination post-treatment process. SWCC is working on the seawater desalination project using renewable energy to take the initiative in realizing Saudi Arabia's VISION 2030. Both parties plan to collaborate across the CCUS business development, including commercial CCUS plant construction, based on business feasibility analysis and basic design research for the application of CCUS technology. Furthermore, the two companies will carry out joint research on various CCUS projects which encompass biological and chemical conversion, mineralization, and storage of carbon that are feasible in Saudi Arabia. DL E&C established Carbonco last August as a company specializing in the CCUS business in an attempt to expand its eco-friendly decarbonization business. Carbonco is conducting a green developer business which includes hydrogen and ammonia business as well as CCUS.
MoU signed to set up a hotel project in Saudi Arabia
Saudi-based Dur Hospitality Company has signed an agreement with Smart Zone Real Estate Company, a wholly-owned unit of Saudi Telecom Company (stc), to set up a hotel project within the stc Square development in capital Riyadh. Saudi-based Dur Hospitality Company has signed an agreement with Smart Zone Real Estate Company, a wholly-owned unit of Saudi Telecom Company (stc), to set up a hotel project within the stc Square development in capital Riyadh. The three-month period extension is for completing the required studies which includes determining the development cost and operational components of the project.
Infrastructure being prepared for Jubail Industrial City
The Royal Commission for Jubail and Yanbu (RCJY) has prepared the infrastructure of the economic center in Jubail Industrial City, in a bid to boom as a destination for wealth and business. A number of investment opportunities have been provided in the city, varying between open and closed commercial complexes, international hotels as well as administrative, recreational and residential properties. This is in addition to the investment opportunities available in Al Huwaylat Island, Al Tilal Park and others. RCJY is in the process of launching a number of projects in Jazan City for Primary and Downstream Industries (JCPDI) in order to develop industrial, commercial and residential areas in the city and boast it as a promising destination for investment. The commission invested nearly SAR 1 billion in Yanbu Industrial City to develop the 11-kilometer-long waterfront and attracted a number of recreational and service projects in addition to office spaces that will attract companies in the city, represented in 25 investment opportunities on an area of 128,000 square meters (sqm).
SAR 29 mln contract awarded for water projects O&M in Saudi Arabia
Alkhorayef Water and Power Technologies Co. was awarded a contract worth SAR 28.98 million (exclusive of value-added tax) by National Water Co. (NWC). Under the three-year contract, the company will perform the works related to the operation and maintenance of water projects in Hafar Al-Batin suburbs. The utility added that the related financial impact is expected to reflect on its financial statements starting Q2 2023. The company also said it will duly announce any future developments in this regard, especially after receiving the final agreement signed by all parties.
Contract awarded for a staff housing project in Saudi Arabia
A team led by Saudi-headquartered Lamar Holding is understood to have won the contract to develop Saudi Aramco's staff accommodation located on Saudi Arabia's Abu Ali Island. The housing public-private partnership (PPP) project is expected to house 700 employees. The contract is estimated at $250m. The winning consortium contains the local Arabian Castles for General Contracting as the operation and management contractor and China's Sepco as engineering, procurement and construction (EPC) contractor. Construction works on the project are expected to complete in 2025. It is understood the following Saudi-based companies led the other teams that submitted a proposal for the contract: Al-Yamama Al-Rajhi Development Company, Al-Mutlaq Group, El-Seif Engineering Contracting, The companies are understood to have submitted bids for the Abu Ali housing PPP contract in September 2022.
22 investment opportunities for private sector in Saudi Arabia
Minister of Transport and Logistics revealed that there are currently 22 investment opportunities in the sector, the most prominent of which is the preparation of four regional airports to be offered to the private sector. The national strategy for transport and logistics services includes huge investments exceeding SAR 600 billion. To implement these investments, it is necessary to capitalize on the financing sources, expand partnership with the private sector, and empower growth of businesses. The ministry has reached an advanced stage on establishing the Saudi road code, with the aim of raising the road quality index, which will be a technical reference for the authorities responsible for roads at all levels.
Contract signed for cloud services project in Saudi Arabia
Edarat Communication and Information Technology (Edarat) has been awarded a cloud services project with the Government Expenditure & Projects Efficiency Authority (Expro). The official body for unified procurement on behalf of the governmental entities. Following the award, a framework agreement for a period of one year, renewable, will be signed.
MOU signed for carbon capture utilization & storage project in Saudi Arabia
CARBONCO, a company specializing in decarbonization solutions established by DL E&C Co., Ltd (DL ENGINEERING & CONSTRUCTION) announced that it has, signed a memorandum of understanding (MOU) with Saudi Arabia’s Saline Water Conversion Corporation (SWCC) in Riyadh, the capital of Saudi Arabia, on the Carbon Capture Utilization and Storage (CCUS) Project. SWCC is an affiliated organization under the Saudi government and operates the world’s largest seawater desalination facility. It is also the second largest electricity producer in Saudi Arabia. Through its research center, SWCC is leading carbon reduction projects in the field of seawater desalination and power generation using renewable energy in Saudi Arabia. CARBONCO and SWCC have agreed to cooperate on the adoption of CCUS technology, which captures carbon from power plants operated by SWCC and utilizes it in the seawater desalination post-treatment process. Both parties plan to collaborate across the CCUS business development, including commercial CCUS plant construction, based on business feasibility analysis and basic design research for the application of CCUS technology. Furthermore, the two companies will carry out joint research on various CCUS projects which encompass biological and chemical conversion, mineralization, and storage of carbon that are feasible in Saudi Arabia. SWCC is working on the seawater desalination project using renewable energy to take the initiative in realizing Saudi Arabia’s VISION 2030. CARBONCO is committed to advancing CCUS technology to apply it to diverse fields, while striving to provide total solutions for CCUS.
Ground broken on Spark facility in Saudi Arabia
Emerson has broken ground on a state-of-the-art manufacturing hub at the King Salman Energy Park in Saudi Arabia. The facility will expand the company's manufacturing footprint in Saudi Arabia. Emerson’s presence in the Kingdom of Saudi Arabia has seen significant milestones. From the early beginnings in the 1960s, and until this day, Emerson has been expanding its manufacturing base in the Kingdom to support local and regional demands. Emerson Saudi Arabia’s local manufacturing capabilities include control systems, measurement solutions and control valves, industrial panels and enclosures, and control and safety systems.
New masterplan under study for development of Riyadh City
Riyadh Mayor, announced that the city’s new masterplan is under study to see possible growth potentials. The vertical and horizontal growth of Riyadh and its readiness to accommodate 15-20 million population, as previously announced by Crown Prince Mohammed bin Salman, depends on two factors. First, the city’s masterplan, which includes a large number of vacant land and developed land plots that can see further development. Second, the development limit, which will be reconsidered when the masterplan is finalized to determine the target population in Riyadh. On the other hand, he said that most projects in Riyadh will be partially open by 2030, adding that some of the Riyadh Metro project’s outputs will be ready this year.
MoU signed for $100.53mln development project in Saudi Arabia
Saudi Real Estate Company (Al Akaria) signed a memorandum of understanding (MoU) with Al Tahaluf Real Estate Company for a development project in Riyadh valued at SAR 377 million. Under the two-month agreement, the two entities will establish a special-purpose vehicle to develop 250 residential villa units within the framework of Al Akaria Park’s master plan. The financial impact of the project will be determined after concluding related studies and obtaining regulatory approvals.
12 quarrying projects to be offered to investors in Saudi Arabia
Saudi Arabia has invited investors to bid for 12 new quarrying projects involving the production of building materials. Bidding will start on Jan 30, 2023 and will end on Feb 16, 2023 and only experienced firms can participate in the process. The Industry and Mineral Resources Ministry has asked investors to bid on its mining website after obtaining details of the projects. All the sites are located in the Western Red Sea port of Jeddah, nearly 20 km from the city’s main stone cracker complex. After receiving the relevant applications, the Ministry will then select those who can bid for the projects. It will then choose the winning bids in an auction after the end of the bidding deadline.
Bid submission underway for a water desalination plant in Saudi Arabia
Qualified companies are preparing to bid for the contract to build the second phase of the Shuaibah water desalination plant in Saudi Arabia. The client, Saudi Arabia’s Saline Water Conversion Corporation (SWCC), expects to receive bids by 30 January, 2023. The proposed seawater reverse osmosis (SWRO) plant will have a design capacity of 545,000 cubic metres a day (cm/d). At least four companies or teams are expected to bid for the engineering, procurement and construction (EPC) contract.
SWCC has awarded contracts for several major SWRO facilities over the past two years. It awarded a team of Metito and local firm Saudi Services for Electromechanic Works (SSEM) the EPC contract for a $700m SWRO desalination plant in Jubail in July 2021. The plant is expected to have the capacity to treat 1 million cm/d of water. The projects are part of the kingdom’s programme to ramp up desalination capacity to cope with rising demand for potable water.
Chinese company wins geological survey contract in Saudi Arabia
China Geological Survey has announced winning a contract from Saudi Arabia’s Ministry of Industry and Mineral Resources (MIMR) for carrying out geological mapping surveys in the kingdom. The value of the contract is $212.79m. The project is formally called Saudi Arabia shield fine geological mapping and is the world's largest geological mapping technical service project in this century, according to the Saudi Geological Survey.
Gold exploration license awarded in Saudi Arabia
The Ministry of Industry and Mineral Resources issued a new exploration license to Al Masane Al Kobra Mining Co. (AMAK) to prospect for gold. The license is valid until Nov. 24, 2027, and covers an area of 34 square kilometers in Asir region. It is in line with the new Mining Investment Law and its executive regulations. AMAK will carry out the relevant studies within the regulatory period to ensure the availability of the required materials. The relevant financial impact will be determined after finalizing the required studies.
SAR 173.5 million contract awarded for hospital medical operation & cleaning in Saudi Arabia
Scientific & Medical Equipment House Co. (Equipment House) won a contract worth SAR 173.5 million (including value-added tax) from the Ministry of Health for the maintenance, cleaning and non-medical operation of Maternity and Children Hospital - Dammam. It is expected that the financial impact of the project, which will be implemented over a period of five years, will be reflected during the fourth quarter of 2023. The company also said that there are no related parties, adding that it will announce any future developments in this regard in due course, especially after receiving the final copy of the contract and after signing it from all concerned parties.
SAR 196 mln steel water pipelines supply contract signed in Saudi Arabia
East Pipes Integrated Company for Industry signed a supply contract with Petroleum Projects and Technical Consultations Co. (Petrojet), at an estimated value of SAR 196 million (inclusive of value-added tax). The supply of steel water transmission pipelines to Petrojet, is valid for eight months. There are no related parties and the relevant financial impact is set to appear in Q1 and Q2 2023/24.
Saudi Arabia announced to launch 4 new combined cycle power generation projects
Saudi Power Purchasing Company (SPPC) announces to launch four new combined cycle electrical power generation projects With readiness for carbon captured unit. Projects will have a total capacity 7,200 MW, as follows:
Taiba IPP 1 1,800 MW
Taiba IPP 2 1,800 MW
Qassim IPP 1 1,800 MW
Qassim IPP 2 1,800 MW
The project are In alignment with Kingdom's Saudi Green Initiative, and its stated greenhouse gases (GHGs) net-zero ambition by 2060, in addition to the energy sector's objectives to ensuring security of supply, diversity of market participation, fair competition, and transparency, Contributing to raising the local content percentage and industry localization.
Huge CCS project to be tendered soon in Saudi Arabia
Saudi Aramco, along with its partners, is poised to embark on a sizeable carbon capture and storage (CCS) programme, eyeing significant emissions reduction from some of the largest onshore gas plants in the country. The development is dubbed as the accelerated carbon capture and storage (ACCS) project. The bid process for the engineering, procurement and construction (EPC) work for ACCS phase one is likely to start in February 2023.
Partnership agreement signed for green hydrogen projects in Saudi Arabia
Saudi Arabia’s ACWA Power has signed a memorandum of understanding with Austrian electricity firm Verbund to potentially develop green hydrogen projects in the Middle East. Verbund will use the hydrogen produced by the region’s projects as a renewable energy source for Central Europe, primarily Austria, as per the MOU. The arrangement between Verbund and the Saudi developer, investor, and operator took place during the currently ongoing Abu Dhabi Sustainability Week. Since green hydrogen is created by electrolysis of water using solely renewable energy sources and has no carbon dioxide emissions, it stands as the cleanest and most efficient fuel globally and an impactful tool for addressing climate change. Although the collaboration between ACWA Power and Verbund has only just begun, the two parties announced they are well-positioned to drive project progression quickly, partly due to ACWA Power’s ongoing green hydrogen activities and involvement. For instance, ACWA Power’s involvement in the NEOM Green Hydrogen Co. portrays the company’s capabilities to add a lot to the collaboration. NGHC, which is a joint venture equally owned by ACWA Power, Air Products and NEOM, is working on the first at-scale green hydrogen project in the world. Set to be complete by 2026, the scheme is expected to produce up to 600 tons per day of carbon-free green hydrogen in the form of green ammonia. This will be used as a low-cost substitute for current transportation methods.
Public transport project to start soon in Riyadh
Royal Commission for Riyadh City, revealed that the operation of King Abdulaziz Public Transport Project in Riyadh will begin in March 2023, starting with bus transportation and then with the various metro lines. The expansion of the lines is being considered. The commission will announce the Riyadh strategy in 2023, as it took time because it is deep and includes several projects, as the commission is close to completing its details, which will be followed by approvals and then its official announcement. King Abdulaziz Public Transport Project in Riyadh is one of the ambitious plans set by the Royal Commission for Riyadh City to provide integrated solutions for public transport. The project targets the establishment and operation of a rapid public transport network in accordance with the latest international technologies, through six train tracks, 84 train stations, 80 bus lanes and 2,860 bus stations.
Saudi company to build $899mln integrated battery chemicals complex in Jubail
EV Metals Arabia Company for Industry (EVM Arabia), a subsidiary of EV Metals Group plc (EVM), a global battery materials and technology company, announced the signing of agreements for the allocation of 127 hectares of land from The Royal Commission at Yanbu and a gas and power allocation from the Saudi Arabian Ministry of Energy. These strategic and significant milestones are foundational for the development of EVM’s Battery Chemicals Complex, to position the Kingdom as a global midstream hub for the production of high purity chemicals required by electric vehicle and battery cell manufacturers, delivering into Vision 2030. The Royal Commission at Yanbu signed an investment agreement with EVM Arabia at Future Minerals Forum in Riyadh to lease 127 hectares of industrial land to EVM Arabia for the development of the Battery Chemicals Complex of EVM with a value of SR3,375 million at Yanbu Industrial City. This follows the grant of an Environmental Permit to Construct by the Royal Commission at Yanbu effective from 2nd January 2023, for which a contract will be awarded later this year. EVM Arabia has also received a gas and power allocation from the Saudi Arabian Ministry of Energy. The gas allocation is equivalent to a daily standard amount of 6,240,000 cubic feet. This will be used for the first two processing trains in the Lithium Chemicals Plant to produce high purity lithium hydroxide monohydrate (LHM) at the world’s first integrated Battery Chemicals Complex of EVM, with construction scheduled to commence in Q3 this year. The Battery Chemicals Complex comprises staged development and expansion of a Lithium Chemicals Plant and a Nickel Chemicals Plant.
Commissioning of the first two trains of LHM will commence in 2026 and ramp to an annual production capacity of 50,000 tpa. This will be followed by an additional four trains, taking total production of the Lithium Chemicals Plant up to 150,000 tpa of LHM. The Battery Chemicals Complex will process intermediate feedstock of critical raw materials from Western Australia to produce high purity chemicals containing lithium, nickel, cobalt, manganese and other metals for downstream production of Cathode Active Materials (CAM). As structural deficits emerge in the second half of this decade, the Battery Chemicals Complex will emerge as a global midstream hub for the production of high purity chemicals and battery materials as the Kingdom transforms its economy to become a global leader in the energy transition. EVM is privileged to be delivering directly into Vision 2030. In 2023, EVM will accelerate exploration of critical minerals in the Kingdom through its subsidiary RIWAQ Al Mawarid for Mining to develop a localised Saudi supply chain for the Battery Chemicals Complex. RIWAQ has been granted 11 exploration licenses covering 1,093 square kilometres and has 142 applications for exploration licenses with an area of 11,350 square kilometres in process, which have identified or potential for critical minerals containing lithium, nickel, cobalt, copper, platinum group metals and rare earth elements.
$176.1m contract awarded in Saudi Arabia
ELSEWEDY ELECTRIC, Egypt, announced that its subsidiary EL SEWEDY ELECTRIC for Transmission & Distribution signed a new contract to construct a solar power station with a capacity of 300 MW. The value of the Contract is USD 176.1 million. The Project has been awarded by Al Ghazala Energy Company in Kingdom of Saudi Arabia. The scope of work for EL SEWEDY ELECTRIC for Transmission & Distribution will mainly focus on the design, supply and installation of the entire project. It will be executed on turnkey basis through a period of 16.5 months in addition to 29 months for operations and maintenance.
Deal signed for Seafarers Club in Saudi Arabia
The Saudi Ports Authority, also known as Mawani, has signed a deal with Marasi Marine Services Co. to establish Seafarers Club at Jeddah Islamic Port, King Abdulaziz Port in Dammam and Ras Tanura Port. The Seafarers Club will be established to provide housing and entertainment services to local and international ship crews and international shipping lines. This will improve port facilities in the Kingdom, in line with the goals outlined in Vision 2030. The Seafarers Club will have various amenities including a hotel, call centers, cafes, entertainment halls, various restaurants, a food commodity store, and a health club. The club will also have exchange and banking services, along with places to provide integrated pharmaceutical and medical services.
SAR 5.28 million contract signed for macaroni production in Saudi Arabia
Wafrah for Industry and Development Co. inked a SAR 5.28 million contract with Lulu Group International. Under the one-year contract, Wafrah will produce several types of macaroni in different sizes under Lulu’s trade name, as per the technical specifications stipulated in the contract. The company will be sourcing the raw materials and the necessary packaging. The deal will likely boost Wafrah’s revenue during the contract period, which is 12 months from the signing date. The contract includes no related parties.
MoU signed for ammonium nitrate & nitric acid in Saudi Arabia
Saudi Chemical Holding Co. (SCHC) signed a non-binding memorandum of understanding (MoU), through its subsidiary, Saudi Chemical Co. Ltd, with Orica Mining Services Portugal for technical cooperation on the localization of ammonium nitrate and nitric acid production.Under the MoU, a project to localize the ammonium nitrate and nitric acid industry will be set up to be the first of its kind in the region. This is besides introducing modern technologies in the mining sector to promote the principles of safety and productivity, as well as environmental, social and governance (ESG) standards. This is to support industries related to mining and exploration, construction and infrastructure, as well as the cement industry, in compliance with the objectives of the Kingdom's Vision 2030. The MoU is valid for six months, and there are no related parties. The related financial impact cannot be determined at this stage.
480-unit premium mixed-use project unveiled in Saudi Arabia
Ajdan, one of Saudi Arabia’s leading mixed-use, lifestyle developers and the company behind the highly successful and popular Ajdan Waterfront, has unveiled its latest destination - Infiniti by Ajdan - which will come up on a total land area of 45,510 sqm on Al Khobar’s eastern coast. This integrated mixed-use landmark project overlooking the eastern coast of Al Khobar, will consist of more than 480 residential units in three high rise towers of 35-, 40- and 45-storey respectively - flanked by 20,000 sqm of retail, food and beverage, and other mixed-use space. Ajdan announced it has signed up a world renowned international architectural studio as lead architects for the project, setting it apart in design and delivery. With stunning views of the Arabian Gulf, Infiniti promises to be a timeless destination that embodies Ajdan’s vision for an upscale, 360° lifestyle experience. This holistic, lifestyle development will be made up of interwoven residential and retail components.
Three residential towers, each taller than thirty floors, will form the centrepiece, and feature the contemporary designs and quality that Ajdan is known for. Ajdan aims to transform people's lifestyle and mindset toward a more open society will help drive the investment inwards in Saudi Arabia, especially in terms of entertainment and tourism growth. This project will be the Eastern Province’s foremost, premium mixed development. This stunning destination carries the name Infiniti, which is derived from the spectacular pools integrated in the development’s design—acting as a connective tissue across the foot of the three towers—giving the space an infinite and captivating feel. For residents, life at Infiniti by Ajdan will feel like an infinite vacation. As a developer focused on cultivating a holistic lifestyle vision, Ajdan also strives to deliver a stellar retail, food and beverage (F&B) offering. With the residential towers stretching skyward, Infiniti by Ajdan will also feature 20,000 sqm of elegant open-air, lifestyle-shopping space. the retail development will include a luxury shopping boulevard, as well as fine dining and premium casual concepts, and is set to attract leading national and international brands. Sitting amongst beautiful landscaping and water features, Infiniti by Ajdan’s retail village aims to capture the spirit of the developer’s current flagship project, Ajdan Waterfront, by creating airy, lively outdoor space. Ultimately, Infiniti by Ajdan will be both a home for locals and expats, as well as it will help cement the Eastern Province as a destination for visitors from across Saudi Arabia and the GCC.
5 agreements worth SAR 43 bln signed for investment projects in Saudi Arabia
The Royal Commission for Jubail and Yanbu (RCJY) signed five agreements worth more than SAR 43 billion to establish projects in Ras Al-Khair Industrial City and Yanbu Industrial City.
The agreements included the following: The Royal Commission in Yanbu signed an investment agreement with the Red Sea Industrial Aluminum Co. to lease industrial land in Yanbu Industrial City, to set up a plant for smelting and rolling aluminum and its alloys, in addition to casting non-ferrous metals. The project will be built over an area of 703.8 hectares, with an investment value of SAR 38.2 billion, and it is expected to provide 5,517 job opportunities.
Furthermore, the Royal Commission in Yanbu signed an agreement with the EVM Company to lease an industrial land to establish a complex for the production of high-purity chemicals required for active materials in the cathode rechargeable lithium-ion batteries for electric vehicles and renewable energy storage. The area of the project is 127 hectares, with an investment value of SAR 3.38 billion. Moreover, the Royal Commission in Ras Al-Khair City for Mining Industries signed three investment agreements with the Saudi Manufacturing Industries Holding Company, which includes allocating 157,000 square meters to establish and operate a plant for the production of aluminum foil and coils in Ras Al-Khair City. The project will use raw materials from Ma’aden, with investments of about SAR 1.28 billion, and it is expected to provide more than 350 job opportunities.
The Royal Commission in Ras Al-Khair City also signed an agreement with Tamouh Co. for Development and Investment to allocate a land of 130,000 square meters, to establish and operate a plant for the production of high-density aluminum fluoride, with an investment value of SAR 474 million. The project will provide more than 127 job opportunities. An agreement was also signed with the Services and Construction Co. for Petroleum Protection to allocate a site with a total area of 10,000 square meters to establish and operate a ready-mixed concrete plant for marine uses, which will support the port and marine industries sector with an investment value of SAR 5 million. The project is set to provide 75 job opportunities.
More than $12 million contracts awarded for major subsea construction projects in the Middle East
Pipeshield International and Subsea Innovation, Tekmar Group companies, have secured several contracts in the Middle East. According to Tekmar Group, Pipeshield International has been awarded multiple contracts from an offshore EPC contractor to provide pipeline support and protection materials for major subsea construction projects in the Middle East. Under the contract, Pipeshield will design, manufacture and supply concrete sleepers, concrete mattresses and associated equipment at its regional supply bases in Damman, Saudia Arabia, and Doha, Qatar. The total value of the projects exceeds $9.74 million with delivery expected in the first half of 2023.
Furthermore, Subsea Innovation has signed a contract for bespoke turnkey launch and recovery (LAR) system. The contract value is around $2.43 million and it includes the design and build of the A-frame, winch with interchangeable drum sets, hydraulic power unit (HPU) and transport frame. The products are expected to be delivered by December 2023.
Saudi Aramco nears decision for up to 11 coveted offshore contracts
Saudi Aramco is nearing its decisions for up to 11 prized engineering, procurement and construction contracts involving multiple offshore fields in the country. The offshore deals are part of Aramco’s lucrative long-term agreement (LTA) with 10 leading international contracting giants and could be awarded within weeks. Some of the key contracts could be finalised by end of this month, while a few others could be awarded by February 2023. Aramco last year highlighted its intent to swiftly scale up its sustainable oil production capacity to 13 million barrels per day by 2027, up from the existing 12 million bpd capacity. The majority of incremental volumes in Saudi Arabia are expected to come from its key offshore oilfields during the next few years, requiring multiple phases of investments.
The 11 EPC deals on offer together involve work on the country’s Abu Safah, Manifa, Zuluf, Marjan, Hasbah and Safaniyah oil and gas fields. Aramco needs a mix of brownfield and greenfield developments to continue boosting its sustainable capacity. The 11 projects, or contract release and purchase orders (CRPOs), in question are 97, 98, 99, 100, 101, 117, 118,119,120, 121 and 122. The leading bidders for the multiple contracts include McDermott of the US; Abu Dhabi’s National Petroleum Construction Company; Italy’s Saipem; a pairing of India’s Larsen & Toubro and Oslo-listed Subsea 7, and a pairing of UK-listed Lamprell and Dutch player Boskalis.
The LTA contractors are said to have selectively submitted their offers for the multiple CRPOs, with each player understood to have bid on more than one project. CRPOs 97 to 101 are the ones that are likely to be awarded first, followed by finalisation of the other contracts next month. Along with the five key bidders for the most recent LTA tenders, the other key players are Malaysia’s Sapura Energy; China’s Offshore Oil Engineering Corporation; South Korea’s Hyundai Heavy Industries; Dynamic Industries of the US; and a grouping of Technip Energies and Malaysia Marine & Heavy Engineering.
MoU signed to enhance intercity transport projects in Saudi Arabia
Saudi Public Transport Co. (SAPTCO) signed a memorandum of understanding (MoU) with NEX Continental Holdings Co. to cooperate on enhancing competitive opportunities in the Kingdom’s intercity transportation projects. The agreement has a term of two years and could be renewed. SAPTCO’s percentage will be 85%, while NEX Continental Holdings gets the remainder.
SAR 166.6 million contract awarded for nutrition services project in Saudi Arabia
Scientific and Medical Equipment House Co. (Equipment House) won a contract with the Saudi Ministry of Health under which it will undertake a nutrition services project at Riyadh’s King Saud Medical City (KSMC), at an estimated value of SAR 166.6 million (VAT inclusive). The related financial impact will appear during the second quarter of 2023. Any developments in this regard will be announced in due course, especially after receiving the final version of the contract and get it signed by all concerned parties.
25 MoUs signed for mining, technology, localization & manufacturing sectors in Saudi Arabia
Ministry of Industry and Mineral Resources, has signed 25 memorandums of understanding and cooperation between a number of government entities, companies and establishments participating in the event. These memorandums and agreements covered mining exploration activities, technology and communication, the application of sustainability standards, localization and manufacturing in the minerals sector. The Ministry of Energy, the Ministry of Industry and Mineral Resources, the Saudi Geological Survey, Saudi Arabian Mining Co. (Maaden), the Saline Water Conversion Corporation (SWCC), Saudi Aramco, and King Fahd University of Petroleum and Minerals were among participants.
Barrick Gold Group, Moxico Resources and Ajlan & Bros., ERG, Shell and Nokia were also among the companies that signed agreements on the first day of Future Minerals forum. Moreover, the exploration licenses of Khnaiguiyah and Umm Ad Dammar were handed to winners.
Strategic agreement signed to manage mountain resort in Saudi Arabia
Neom, the developer of Saudi Arabia's mega futuristic city project Neom, has signed a strategic agreement with General Hotel Management (GHM), the creator of stylish hotels and resorts worldwide, to manage The Chedi Trojena, a unique perennial mountain destination in the kingdom and host venue of the 2029 Asian Winter Games. Nestled within the Slope Residences atop the mountain peaks, The Chedi Trojena will be part of an iconic residential village in one of Trojena’s six distinctive clusters: Gateway, Discover, Valley, Explore, Relax and Fun. The hotel’s location in the Relax Cluster serves as a sanctuary for reflection, recreation, and rejuvenation with world-class wellness programmes. Its design blends harmoniously with the surrounding landscape, with nature trail paths and a thoughtful public realm for healthier living. The Slope Residences will offer guests a range of experiences stretching from culinary nourishment, sports and adventure, health, and longevity, as well as restorative and meditative activities, all with uninterrupted views overlooking the Lake of Trojena. As per the agreement signed by Neom Hotel Development, the developer of a future-centric hospitality ecosystem in the northwest corner of Saudi Arabia, today (January 11), GHM will be responsible for the management of The Chedi Trojena. The design narrative for the hotel will be imbued with the kingdom’s rich history with a nod to Trojena’s futuristic architecture for a contemporary appeal befitting its awe-inspiring destination. In its aim to become a hub for world-class tourism and recreation never before offered in the Gulf countries, the mountain destination will also feature 30km of ski slopes for visitors of all ages and levels, ultra-luxury and wellness hotels and resorts as well as over 100 indoor and outdoor experiences available all year-round.
Over $173m contract awarded in Saudi Arabia
Arabian Drilling announces that, it has signed a contract for offshore jack up unit with Saudi Aramco. The value of the contract is over SAR 650 million. As part of the contract, Arabian Drilling will supply an offshore jack up unit with full crew to perform offshore drilling services in the Kingdom of Saudi Arabia. The contract is expected to commence operations in Q3 2023. The duration of the contract is five years.
$278m contracts awarded in Saudi Arabia
Saudi Arabian Mining Company (Ma’aden) announces Engineering, Procurement and Construction Management (EPCM) Contract Sign Off with WorleyParsons Arabia Limited and JESA International S.A. The value of the contract is SAR 1.043 billion (278 million USD). As part of the contract, WorleyParsons Arabia Limited and JESA International S.A will provide engineering, procurement, and construction management services for the construction of the phosphate 3 phase 1 project that will produce 1.5 MT per year of phosphate fertilizers. An integrated production complex will be built in Wa’ad Al Shamal (WAS) and Ras Al-Khair (RAK) industrial cities. The duration of the contract is 42 months.
SAR 90 mln contract awarded for water networks O&M in Saudi Arabia
Alkhorayef Water and Power Technologies Co. has won a contract from National Water Co. (NWC) at a value of SAR 89.83 million (excluding value-added tax). Under the 36-month contract, the company will operate and maintain water networks in Madinah. The related impact is expected to be reflected in Alkhorayef Water’s financial statements in Q2 2023.
Wireline services platform contract awarded in Saudi Arabia
National Energy Services Reunited Corp. (NESR) announced that the Company has been awarded a long-term, Wireline Services (Wireline) platform contract in Saudi Arabia, which greatly expands the scope of services provided over a nine (9) year contract term. Within the expanded scope of the contract, NESR will now provide advanced Cased-Hole & perforation services, in addition to the broad suite of services currently performed. This contract gives NESR the opportunity to introduce & showcase innovative technologies within the Wireline product line that span the well construction and production value chain.
SAR 139.5 mln contract awarded for an oilfield project in Saudi Arabia
Gas Arabian Services Co. (GAS) signed a contract with JGC Arabia Limited for developing of Saudi Aramco’s Zuluf Onshore Oilfield Project, at a total value of SAR 139.5 million, excluding value-added tax. The contract includes steel structure pre-assembly and erection, equipment installation, piping, painting and support services. The contract is valid for two years. The contract will reflect a positive financial impact on the company’s financials for 2023 and 2024. There are no related parties to the contract.
Diriyah named as fifth giga-project in Saudi Arabia
Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister, and Chairman of the Public Investment Fund (PIF), announced Diriyah as the sovereign wealth fund’s fifth giga-project. The announcement reflects the Crown Prince’s efforts in enabling the Saudi cultural identity, which includes the Diriyah Project due to its historic, cultural, and political value proudly showcasing to the world Saudi Arabia’s 300 years of history. The Diriyah Project is a globally significant destination that includes the Turaif District UNESCO World Heritage Site. These cultural and historical aspects position Diriyah as an unrivaled destination of global significance where the authenticity of Saudi heritage can be celebrated, revealing the historic origins of modern Saudi Arabia.
PIF’s giga-projects portfolio currently includes NEOM, Red Sea, Qiddiya, ROSHN, and now Diriyah projects. Diriyah is expected to enable many strategic domestic sectors, create partnerships with the local private sector, and unlock many new investment opportunities throughout its development and production phases in sectors such as construction, operation and management of hotels, retail, entertainment, and cultural facilities, creating thousands of new job opportunities and providing a series of initiatives designed to contribute to enriching the quality of life for residents and visitors.
SAR 33.5 mln O&M contract awarded for water networks in Saudi Arabia
Alkhorayef Water and Power Technologies Co. (AWPT) awarded a contract from National Water Co. (NWC), at a value of SAR 33.5 million (excluding value-added tax). Under the three-year contract, the company will operate and maintain of water networks, water treatment plants, and water wells in Hafar Al-Batin and Al Qaisumah Cities. The related financial impact is expected to be reflected in Alkhorayef Water’s financial statements in Q2 2023. Any future developments will be disclosed in due course, especially after receiving the final version of the agreement signed by all concerned parties.
New operations building inaugurated in Saudi Arabia
Saudi national carrier Saudia has announced the opening of its new operations building at King Abdulaziz International Airport (KAIA) in Jeddah. Built entirely by Saudi Airlines Real Estate Development Company (Sared) over a 50,000 sq m area, it also boasts an extensive operations control centre, which is the largest centre of its kind in the Middle East and the 12th largest globally. The centre coordinates between the group’s business lines, communicates with aircraft via its state-of-the-art facilities to ensure control of its operational plans, and tracks air traffic across all domestic and international airports in real time. It is a proper mini terminal, complete with artificail intelligence (AI)-powered self-boarding kiosks and five luggage carousels, as well as about 15 meeting rooms for pre-flight cabin crew briefings, stated the national carrier. The two-storey building can accommodate more than 1,100 employees. Throughout the building’s design, construction and deployment stages, Sared had prioritised the incorporation of and compliance with the highest safety and security standards. The eco-friendly structure adheres to the highest international sustainability standards as well. It also aims to provide an ideal working environment that fosters productivity and innovation amongst its employees.
Proposals to be invited for BRT project management contract in Saudi Arabia
Saudi Arabia’s Al-Madina al-Munawarah Development Authority, through the National Centre for Privatisation and PPP (NCP), is expected to seek proposals for the project management and construction management (PMCM) package for the planned Medina bus rapid transit (BRT) network. Forty-three companies expressed interest in the contract to develop the Medina BRT network using a public-private partnership (PPP) model. The planned Medina BRT comprises three corridors with a total length of 64.6 kilometres (km) and an estimated capacity of 1,800 passengers an hour.
The first route will stretch 16.2km from Ohud to Quba Mosque and have 12 stops and two park-and-ride facilities. The second and main route will be 38km long and start from Medina’s Prince Mohammed bin Abdulaziz International airport, pass the Prophet’s Mosque, and terminate at Miqat Mosque. It will have 24 stations and three park-and-ride bus stops. The third corridor starts from the eastern terminus on Al-Qassim Road and runs to Prince Abdul Majeed Mosque. It is 10.4km long, with 10 stations and a park-and-ride facility. Al-Madina al-Munawarah Development Authority appointed a team of US-based Deloitte, the US/Saudi HDR Middle East and the local Abdul Rahman Fahad al-Khaili as transaction advisers for the project. The request for qualifications for the contract is expected to be issued to the interested companies soon.
2 new contracts awarded in Saudi Arabia
China Harbor announced that it has awarded two contracts in Saudi Arabia. The first Contract is related to building the infrastructure of a new Project in Riyadh, and the main scope of work include various pipeline facilities, earthworks and ancillary housing construction facilities. This project is the second pipeline network project won by the company in the central region of Saudi Arabia in Riyadh, and it is also another important achievement of the company’s active “secondary operation” for core owners. The successful bidding of this project provides strong support for the company to further expand the “pipeline network” industrial chain in the Saudi market, develop the “construction” and “urban comprehensive” industrial chain, enter the “big city” field, and expand the Riyadh project cluster. The Second Contract is related to upgrading and reconstruction project of the first and second container terminals of Dammam Port in Saudi Arabia.
Animal protein city to be established in Saudi Arabia
Saudi authorities signed a joint memorandum of understanding (MoU) to establish the animal protein city in Jazan City for Basic and Transformational Industries. The Ministry of Environment, Water and Agriculture (MEWA), represented by the National Livestock and Fisheries Development Program, signed the agreement with the Royal Commission for Jubail and Yanbu (RCJY). The two sides seek, through the MoU, to contribute to supporting the food processing of meat, fish and crustaceans and their modern applications, according to regular procedures. It also endeavors to support joint coordination in applying practices for livestock and fisheries sustainability in the region, and to facilitate importing to cover the local demand. The MoU also aims to work on building food clusters, developing logistical services for supply chains and establishing training centers in the field of food industries to develop human capabilities and support entrepreneurs. This is besides achieving the Kingdom's ambitious goals of localizing 85% of the food industries by 2030. The selection of Jazan City to be the headquarters of the new animal protein city came due to its unique advantage of overlooking the Red Sea, which connects it to several continents, thus facilitating the arrival of Saudi exports to Europe, Africa and East Asia. This also provides the appropriate infrastructure for the localization of a number of value-added manufacturing industries for the local economy, to meet the local and global demand for high-quality Saudi food products.
SAR 162 mln deal signed to develop 260 housing in Saudi Arabia
Ladun Investment Co. has signed an agreement to develop 260 residential units in Jazan at a total value of SAR 162 million, excluding value-added tax. The company pointed out that the project, covering an area of 44,020 square meters (sqm), will be implemented in partnership with the private sector. The infrastructure and buildings will be constructed by Al-Manjoof Contracting Co., as per the off-plan sales model. The contract is valid for 30 months from the start date of actual execution. The project aims to enhance the company’s position in Jazan region, where it owns several real estate properties that need to be developed. Moreover, Ladun expected a positive financial impact on its results starting from Q4 2023 until the end of the project by 2025.
SAR 43.9 mln IT system development contract awarded in Saudi Arabia
Perfect Presentation for Commercial Services Co. (2P) announced that it was awarded a project worth SAR 43.92 million, inclusive of VAT, for maintenance and operation of the information technology (IT) system at Makkah-based Al Noor Specialist Hospital. The project aims to develop, operate and maintain the IT system, in order to help the hospital provide its services as per the best technical practices for managed services. The project scope includes managing, operating and developing the hospital's IT system, as well as its website, APEX e-services and mobile applications. In addition, 2P will manage, operate, maintain and develop the hospital's databases as well as its telecommunication systems and equipment. The project does not include related parties but the company said its under-construction projects are valued at SAR 2.1 billion, inclusive of VAT.
SAR 194.8 mln contract awarded for hospital O&M in Saudi Arabia
Scientific & Medical Equipment House Co. has been awarded a contract worth SAR 194.82 million (including value-added tax) by the Ministry of Health. Under the five-year contract, the company will carry out the maintenance, cleaning and non-medical operation of Al-Madinah Hospital in King Salman Medical City in Madinah. It is expected that the financial impact of the contract will be reflected during the second quarter of 2023. It noted that there are no related parties. It will announce any future developments in this regard in due course, especially after receiving the final copy of the contract and after signing it from all concerned parties.
Agreement signed to build a commercial mall in Saudi Arabia
Retal Urban Development Co. signed a shareholder’s agreement with Saudi Arabia Railways (SAR) to establish a special purpose vehicle (SPV), which is equally owned by both parties. The SPV intends to build a commercial mall to support the business and growth of the company's strategy.
Pre-bid underway for $6 billion unconventional onshore gas project in Saudi Arabia
Leading international contracting giants are set to compete for the second development phase of Saudi Aramco’s Jafurah unconventional onshore gas project, with key packages worth upwards of $6 billion. The Saudi state-owned giant recently sought expressions of interest for multiple engineering, procurement and construction packages for Jafurah phase two and is expected to issue tenders to shortlisted players promptly. Saudi Aramco is carrying out a phased development approach for its $100 billion-plus Jafurah project, which is expected to produce up to 2 billion cubic feet per day of gas by 2030.
SAR 118 mln lease contract signed for an educational complex in Saudi Arabia
Ataa Educational Co. has signed a lease contract for an educational complex in the Sulaymaniyah District in Riyadh with Tatweer Buildings Co. at a total value of SAR 118.03 million. The 30-year contract will have a financial impact on H1 2023. The integrated educational complex spans an area of 13,940 square meters, with an annual rental value of SAR 4 million. The building has a capacity of 2,500 students, and the initial operation is expected within the next year.
SAR 43 mln contract to build electrical & electronic waste recycling plant in Saudi Arabia
National Environmental Recycling Co. (Tadweeer) signed a contract with Tebrak Trading and Contracting Company and Mounes Mohamed Alshayeb for Civil Construction (MOBCO) to construct factories for recycling of electronic, electrical, and metal waste, at a value of SAR 42.7 million (including value-added tax). The factories will be built on an area of 42,000 square meters with a production capacity of 400,000 tons per year. The contract will be valid for 11 months, starting from the signing date. The move is expected to have a positive impact on Tadweeer's revenue on operations, which is expected in the second quarter of 2024.
Agreement signed for solar pv products & services in Saudi Arabia
Saudi Arabia’s Public Investment Fund (PIF) announced that, PIF and LONGi Green Energy Technology Co., Ltd. signed a Joint Development Agreement (JDA). The agreement is for the manufacturing of Solar PV products and services in Saudi Arabia, supporting the PIF strategy 2021-2025 to unlock sectors, including utilities & renewables. The agreement is in line with SaudiVision2030.
$1.6bn credit facilities signed for real estate development in Saudi Arabia
In a move to expand its funding base, Saudi real estate developer ROSHN signed SR6 billion ($1.6 billion) worth of credit facilities deals with three of the Kingdom’s leading banks. ROSHN signed agreements with the Saudi British Bank, Bank Albilad, and Al Rajhi as part of its strategy to obtain external funding for its projects. With a total value of SR2 billion each, the new credit facilities will constitute a fundamental change in the real estate sector as well as a basis for diversifying financing. The new financial agreements fall in line with the framework of its objective of building vital urban communities covering nine cities including Riyadh, Jeddah, Al-Kharj, Hofuf, Qatif, Makkah Al-Mukarramah, Abha, and others.
Design consultant appointed for Construction Village in Saudi Arabia
Engineering Consultants Group (ECG) of Egypt has been awarded a contract to design five Saudi NEOM Construction Villages (NCV) spanning 1,647,000m2. ECG’s scope of work includes design review, data collection, masterplanning, concept design, the basis of design report, design development, detailed design, and IFC (Issued for Construction). Saudi Arabia’s Al Fanar Company is also associated with the project. four out of the five villages cover an area of 798,000, and the fifth site covers an area of 849,000m2. The villages include residential facilities, combined facilities, utility buildings, and separate amenities for Saudi NEOM staff, contractors’ staff, and FM staff. The residential facilities for each village include Saudi NEOM camp type A suite (G), NEOM camp type B (G+1), contractors’ type A (G), contractors’ type B (G+1), contractors’ type C (G+1), contractors’ type D (G+1), and FM staff types B, C & D (G+1), ECG revealed in the project sheet. The combined facilities located on the ground floor for each of the NEOM Construction Villages include registration & FM offices, office building, mosque, multi-purpose hall, fire station & truck yard, maintenance warehouse, clinic, commercial, laundry, type A+B dining, type C+D dining, kitchen with LPG connection, dry & cold goods storage, outdoor toilet, garbage room, security facilities, and training facility.
Meanwhile, the separate amenities, also located on the ground floor of each village, include a gym, games room, and multipurpose room under Type A; gym, games room, male swimming pool, and female swimming pool under Type B; gym, games room, and male swimming pool under Type C; and gym, games room, and male swimming pool under Type D. A gym and games room is also being constructed for FM staff. Additionally, separate amenities for Saudi NEOM staff include registration & FM office, clinic, commercial space, games room, gym, male swimming pool, female swimming pool, laundry area, garbage room, outdoor toilet, guardhouse, dining & kitchen area with LPG connection, mosque, multi-purpose room, and electrical substation. The built-up area for all buildings is 331,322m2 for the five villages.
Upgrade completed on new offshore rigs in Saudi Arabia
Saudi Arabia’s onshore and offshore drilling player Arabian Drilling Company (ADC) has completed the upgrades on its new offshore rigs, which have now embarked on their drilling assignments, secured with the country’s oil and gas giant, Saudi Aramco. Arabian Drilling disclosed earlier this week that the upgrade project, undertaken subsequent to securing two contracts with Saudi Aramco, for its recently acquired offshore jack-up rigs, AD110 and AD120 has been completed. The contracts for these two rigs have a duration of three years, with a two-year extension option. Arabian Drilling has announced that the two jack-up offshore rigs have started their operations with Saudi Aramco.
2 contracts worth SAR 105.2 ml signed for digital infrastructure in Saudi Arabia
Etihad Atheeb Telecommunication Co. (GO) signed two contracts with the emirates of Tabuk and Najran, at a total value of SAR 105.2 million, including value-added tax (VAT). The contract signed with the Tabuk emirate, which amounted to SAR 28.2 million (including VAT), is for providing consulting services supported by digital infrastructure, as well as creating a digital transformation platform to complement the digital transformation standards. It added that the positive impact of this 36-month contract will reflect on its revenues and financial results starting from Q1 2023 until the end of this contract.
The SAR 77 million (including VAT) contract signed with Najran entails the provision of fixed and voice communication services, as well as consulting services supported by digital infrastructure. A digital transformation platform including the operations of the necessary applications to complete the digital transformation standards will also be implemented. The positive impact of the 60-month contract will reflect on the company's financial results and revenues starting Q1 2023 until the end of this contract.
SAR 31 million infrastructure works progressing in Saudi Arabia
Knowledge Economic City (KEC) expected the remaining works on Al-Alya Residential Project to be finalized and the site to be handed over following the necessary review on Feb. 28, 2023. It added that the project is 82% complete, attributing the delay in the deadline previously set to shortage in required manpower by the contractor to execute part of the works. The revised contract value will remain unchanged at SAR 31 million.
The Northern Suburb Project (Al-Alya) aims to complement the development of the northern area overlooking the 40 meters wide Safwan Street. The project area is 269,000 square meters (sqm) divided into plots of different sizes to offer six-storey buildings, specially designed to respond to the new urban trend in Madinah, Humanization of Cities. It also provides green areas and pedestrian paths to create an attractive quality lifestyle. The landscaping and pathways area is 72,000 sqm. The length of the green project's main path is 1,100 meters, with width ranging between 16 and 82 meters.
Architect appointed for sustainable development projects in Saudi Arabia
Adrian Smith, the chief designer of Burj Khalifa, the world’s tallest skyscraper located in Dubai, will collaborate with Saudi-based Magnom Properties and Chicago-based Carbon Lab to develop sustainable development projects across the Kingdom. The developments will be led by Smith and Gordon Gill under the representation of their design company AS+GG Architecture. More details regarding these new development projects are expected to be unveiled soon. The implementation of the projects in the Kingdom comes in line with Saudi Arabia’s aims for economic diversification and ambitions to achieve net-zero by 2060. Magnom Properties will adopt advanced technologies to ensure sustainability during the construction of these projects.
Saudi Arabia announces re-tendering of Taiba (3.6GW) & Qassim (3.6GW) IPP Projects
Saudi Power Purchasing Company (SPPC) announces it will be re-tendering Taiba and Qassim IPP projects with provision for Carbon Capture and Sequestration (CCS) readiness. In alignment with KSA’s Saudi Green Initiative, and its stated greenhouse gases (GHGs) net-zero ambition by 2060 through deployment of technologies for circular carbon economy approach in addition to the energy sector’s objectives to ensuring security of supply, diversity of market participation, fair competition, and transparency, the Saudi Power Procurement Company will be re-tendering Taiba and Qassim projects into four (4) smaller combined cycle power projects of 1800MW capacity each with provision for Carbon Capture and Sequestration (CCS) readiness. All Taiba and Qassim qualified developers are automatically qualified for the new projects while other interested participants can submit their qualification documents starting today. These projects will introduce the developer’s ability to implement CCS or other potential solutions to address GHGs emissions when deemed feasible allowing for greater participation of developers, EPCs, and Original Equipment Manufacturers (OEMs), and will drive further local content and value-added to the Kingdom. Project RFPs will be released on January 20, 2023.
Contracts awarded for residential complex, workers village in Saudi Arabia
Saudi Arabia's King Salman Energy Park (Spark) has reached an agreement with Affordable House Company, a subsidiary of Abdullah M Bin Saedan & Sons Real Estate Group (Saedan), to build a residential complex and workers village within the key industrial facility located in the Eastern Province. Spanning a 30,000-sq-m area, the housing complex will offer a wide range of fully furnished long-term accommodation to the residents. To be developed in two phases, Phase One will be ready in 2025. The development will incorporate sustainable construction technologies, smart systems and eco-friendly materials such as green concrete and solar panels. This comes as part of its efforts to minimise Spark's carbon footprint and impact on the environment, in line with the Saudi Green Initiative. The duo also broke ground on a new state-of-the-art workers village following an agreement which they had signed early this year. The workers village will be built in three phases over an area of 110,000 sq m with Phase One set for completion in 2025. The development will have a capacity of over 8,000 beds and will include a complete range of amenities.
Deal signed to operate huge cold storage center in Dammam port
Saudi Port Authority - Mawani signed a deal with Danish shipping company Maersk to operate a 30,000 sq. m refrigerated storage center in King Abdulaziz Port in Dammam city. Mawani also reached an agreement with the firm, as well as Saudi Arabian Refad Real Estate, to run the facility, which is projected to have an annual capacity for 168,000 exported and imported pallets of frozen goods and processed food, as well as dairy products and seasonal fruits. Moreover, the new center will also be equipped in accordance with international standards for temperature and humidity and greenhouse gas emissions will be minimized by a solar panel plant with a capacity of up to 600 kilowatts.
In addition to this, the center is expected to generate at least 15 percent of the energy requirements at the start of operations. It will also include a water treatment plant in an attempt to meet local demand without having to opt for external plants; thus, bringing down the number of carbon emissions from the external plans by an estimated 87,600 kilometers per year. This falls in line within the framework of further strengthening the food security system and supporting the Kingdom’s food imports and exports, 20 percent of which come through the King Abdulaziz Port.
Magnom to develop sustainable projects across Saudi Arabia
Saudi-based Magnom Properties has announced plans to develop a number of sustainable real estate projects across the kingdom in partnership with Adrian Smith + Gordon Gill Architecture (AS+GG Architecture) and The Carbon Lab based in Chicago. A subsidiary of Rawabi Holding, Magnom announced these deals come as part of its commitment to building greener, smarter cities. The new developments in the commercial and retail sectors will be a model of best practices in sustainability in line with Saudi Arabia’s unified vision for the future and its pledge to cut the nation’s carbon emissions to net zero. Renowned architect Adrian Smith and his partner Gordon Gill, representing their international design firm, AS+GG Architecture, who visited Saudi Arabia recently, will lead these ambitious projects in the Kingdom. More details will be announced in due course. The MoU for these projects was signed by Abdulaziz Al Turki, Group Chairman, Rawabi Holding and Nesma & Partners and Chairman of Magnom Properties with the architect Adrian Smith during a special ceremony held at Rawabi Holding office in Al Khobar. The high-performance designs incorporate the vision of Magnom Properties in setting new standards in sustainability across all its ventures by minimising carbon footprint, managing precious resources, improving environmental quality and integrating intelligence into the built environment.Apart from using renewable materials, sustainable energy sources and making efficient use of space and resources, amongst others, technology will play a key role in embedding sustainable practices to align with the decarbonisation roadmap for the Kingdom of Saudi Arabia.
Interior works completed for newest Cineplex in Saudi Arabia
Havelock One, a leading fit-out and manufacturing group in the region, said it has completed the interior works at Grand Cinemas' newest cineplex in Taif, Saudi Arabia. The branch at Park Mall in Taif city marks the Grand Cinemas’ second location in the kingdom. It boasts 11 screens with a seating capacity ranging from 40-299, equating to a total seat count of 1,243 across 3,391 sq ft area. Grand Cinemas had retained Havelock One to complete a full fit-out of the space including 11 screens, the impressive main entrance façade and two grand lobbies.
All joinery, metal, and glasswork, including furniture and windows were manufactured in Havelock One’s Bahrain factory and shipped to the site for installation. A major player in the region, Grand Cinemas remains committed to developing new technologies within the cinema sector, including groundbreaking MX4D technology with moving seats, which enables the viewer to experience the film across all senses, including motions, jolts, wind, water and scents.
Largest Mercedes-Benz showroom to be opened by 2023 in Saudi Arabia
Juffali Automotive Company (JACO) has a very aggressive and extensive network development plan for the upcoming 3-4 years in Saudi Arabia. The company is working on opening the largest Mercedes-Benz showroom in Saudi Arabia by end of 2023 in Riyadh. This flagship facility in Riyadh will be built on an area exceeding 13,000m2 with an investment of over SR100 million. Further developments in Jeddah are also in the works to potentially open a Mercedes-Benz Service factory in the North of Jeddah by 2024/2025. JACO will be launching various fully electric cars starting 2022 with the EQS followed by the EQE, EQS SUV, EQA in 2023.
2 Public transport contracts signed for SR 100 million in Saudi Arabia
Taif Municipality signed on Monday two contracts worth SR100 million for the public bus transport project in Taif. The first contract, which will last five years, was signed with Saudi Public Transport Co. (SAPTCO) to operate the project. The second 360-day contract was inked with Sarah Al Manama Co., to provide the public bus transport network with infrastructure services. More than two million persons will benefit from the project, through nine main routes linking the most important centers and landmarks in the governorate. It will have 182 bus stops. The project will also include 58 buses operating 18 hours a day. This will contribute to serving Taif's residents and visitors, while improving their experience.
SAR 159 mln finishing works contract awarded for a hospital in Saudi Arabia
Dallah Healthcare Co. has signed a contract worth SAR 159 million with Youssef Marroun Contracting Co. for the mechanical, electrical and finishing works of the second phase of Dallah Namar Hospital. Under the 13-month contract, Youssef Marroun will complete and equip the clinics building for the hospital’s phase II, bringing the facility to its maximum capacity after completion. This will have a positive impact on Dallah Healthcare’s financial results when the above phase starts operating in 2024.
MoU signed to build polymer compounds factory in Saudi Arabia
Nomu-listed Saudi Top Trading Co. announced that one of its factories, Saudi Top Plastic Factory, signed a memorandum of understanding (MoU) with Rabigh Refining and Petrochemical Co. (Petro Rabigh). The MoU is to establish a factory with a total construction value of about SAR 100 million in two phases, the first with a value of nearly SAR 60 million and the second phase of approximately SAR 40 million.
The new factory will be established on an area of 34,000 square meters, and for a period of 30 years, to produce 50,000 tons annually of polymer compounds, rubber, and industrial waxes in Rabigh Plastic Technology Complex. The supply of polymer scrap materials, rubber, and industrial wax for the new factory will be from Petro Rabigh. The 12-month MoU started from signing date.
SAR 644.5 mln land plot sold for residential & office developments in Saudi Arabia
Cenomi Centers completed the sale of a vacant land plot for SAR 644.5 million (excluding real estate transaction tax and brokerage fees) to Sumou Real Estate Co. within its SAR 2 billion non-core asset land sale program. The land plot, spanning 115,090 square meters (sqm), is located in Riyadh near the company’s new flagship project, Jawharat Al-Riyadh. The plot was sold for SAR 5,600 per sqm. Studies indicated that this land plot was best suited for residential or office developments and does not support Cenomi Centers’ strategic expansion plans of developing best-in-class lifestyle destinations.
SAR 29.9 mln contract awarded for fiber-optic network in Saudi Arabia
KEIR International Co. announced that it has won a contract worth SAR 29.9 million, including VAT, from the Ministry of Interior. The expected date for signing the contract is Feb. 19, 2023. The deal includes connecting the ministry's 49 sites in Riyadh and Makkah to the fiber-optic network. This includes the supply and installation of internal network devices (ISP), as well as the supply and operation of cyber security systems for the network and implementation of the external network OSP. The project also includes training on network systems.
Work in progress for Jeddah-Makkah direct road project
The Ministry of Transport and Logistics announced the completion of the third phase of the direct road between Jeddah and Makkah covering a length of 27 kilometers. The road has a total length of 73 kilometers with four lanes in each direction. The ministry revealed that the completion rate in the first phase, which is seven kilometers long, is 78 percent, compared to 85 percent in the 19-km second phase, while the fourth phase of the project, which is 20 kilometers long, is under the process of awarding. The project will contribute to accommodate the increase targeted by the Kingdom’s Vision 2030 in serving the Hajj and Umrah pilgrims as well as residential areas and neighborhoods located in the east of Jeddah and the north of Makkah, in addition to shortening the average travel time between north Jeddah and Makkah, and directly linking King Abdulaziz International Airport with Makkah. The road project will also contribute to raising the efficiency and effectiveness of the performance of the transport sector, facilitating the movement of Hajj and Umrah pilgrims, and reducing traffic congestion on existing roads, especially the Haramain Expressway.
Contract signed for first integrated logistics park in Saudi Arabia
The Saudi Ports Authority (Mawani) and Medlog, the logistics arm of the Mediterranean Shipping Co., have signed an agreement to build the first integrated logistics park and a re-export zone at King Abdulaziz Port in Dammam. The deal, worth more than SR100 million ($27 million), will help achieve Mawani’s goals of increasing the number of national re-export logistics centers to 30 and raising the Kingdom’s logistics performance index ranking to 4.01 by 2030.
The development will cover 100,000 square meters and will have the capacity to handle 300,000 containers a year, streamlining transportation throughout the country. The location near Jubail Industrial City and other major centers in eastern Saudi Arabia would give the port a competitive advantage, improving its logistical operations.
$798m contract to build fun park in Saudi Arabia
Shapoorji Pallonji, a leading Indian business conglomerate with interests in construction and real estate, has secured a major contract from Saudi PIF-backed entity Saudi Entertainment Ventures (SEVEN) for the development of first of 21 planned fun parks in the kingdom. As per the SR3 billion ($797.7 million) deal, Shapoorji Pallonji will be responsible for the construction and management of the Al Hamra project leisure destination which will come up on more than 90,000 sq m area. Strategically located at the intersection of the Eastern Ring Road and King Abdullah Road, the property will boast a built-up area of 167,000 sq m. The Saudi PIF's entertainment arm will be spending more than $13 billion in creating 21 fun parks across 14 cities in the kingdom that will inturn create jobs and boost the kingdom's tourism. Similar projects will come up in Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Madinah, Yanbu, Abha, Jazan, Buraidah, and Tabuk. On completion, SEVEN Al Hamra is expected to attract 6 million visitors per year by providing world-leading entertainment attractions. SEVEN Al Hamra will feature many of the group's signature entertainment experiences including an indoor hubless wheel, Wave House indoor surfing, a 10-lane bowling alley, indoor skydiving, an indoor karting racetrack, as well as cinemas, restaurants, cafes, international retail stores, and fitness. SEVEN has partnered with international design companies including AOA, CallisonRTKL in collaboration with Thinkwell, WME, and Ellis Don to design these Saudi entertainment projects.
Tender process delayed for a huge oilfield expansion project in Saudi Arabia
Saudi Aramco has pushed back by almost two months the bid submission date for multiple offshore tenders relating to the further development of its giant Safaniyah Oilfield. Up to 10 engineering, procurement, construction and installation (EPCI) contracts are up for grabs, with the offshore infrastructure required for Safaniyah potentially worth billions of dollars. Aramco recently informed bidders that technical and commercial offers for the Safaniyah offshore incremental scheme are now due by the end of January 2023, a delay of almost two months in the ongoing tender.
Consultant appointed for environmental sustainability strategy in Saudi Arabia
Saudi Electricity Company (SEC) has appointed WSP, one of the world's leading professional services consulting firms, to support the kingdom's environment and sustainability ambitions and help become an industry pioneer. It had commissioned an environmental compliance programme covering all its facilities across the kingdom, mainly driven by its Vision 2030 towards protecting and enhancing the KSA's environment. The project aims to achieve the environmental compliance requirements of SEC’s operation facilities and assets, against the National Center for Environmental Compliance standards and regulations.
The first phase of the project will see WSP identify all compliance gaps, provide environmental auditing services, and develop the environmental compliance action plans and procedures required to achieve legal compliance with NCEC’s requirements. The second phase is for oversighting, tracking, and monitoring the Environmental Compliance Action plans’ implementation, including the development of key performance indicator to monitor and control the progress across SEC’s operation sites and assets. WSP's Environment & Sustainability Advisory team will also support SEC with the development of an Environmental Management System (EMS) based on international benchmarks.
Fit-out work completed on Roshn HQ in Saudi Arabia
Global architecture and interior design practice Scott Brownrigg has announced that it has completed the fit-out work at the new 5,460-sq-m headquarters of Saudi community developer Roshn Real Estate in capital Riyadh. Announcing the fit-out work completion, Scott Brownrigg announced the brief was for an innovative, people-centric working environment that reflects the identity, social values, and location of the fast growing and leading community developer and also to create a space where employees feel empowered to strive for success, and have the opportunity to create, collaborate, and develop. Quickly, the British interior design firm’s Design Strategy Unit (DSU) swung into action, conducting a series of staff engagement sessions - from departmental interviews and workshops to a bespoke workstyle profiler in order to gain an in-depth understanding of individual and collective requirements for the new workspace. Scott Brownrigg said the overall design concept offers a contemporary take on traditional Saudi design and craftsmanship. A considered internal layout with a range of work settings distributed across multiple floors provides employees with choice, flexibility and ownership in how and where they work; a space that embodies the values of Roshn. Traditional vernacular materials such as limestone, stone and wood, create a harmonised working Environment. Terracotta colours define the central core while wood provides texture and pattern Definition throughout. A new multi-purpose reception includes spaces for informal meetings and collaboration; an innovation area to display current projects and host new project launches and functions.
On floors above, individual pods and enclosed booths allow for undisturbed focus while open plan deskwork spaces encourage informal exchange, and maximise natural light and views. A café located at the top of the building is a flexible sub-divisible social space, used by staff for presentations, wellness events, or simply to pause and take in the impressive views over the city. Traditional vernacular materials such as limestone, stone and wood, create a harmonised working environment. Terracotta colours define the central core while wood provides texture and pattern definition throughout. Creating a high-quality space for partners and clients to positively engage and interact, the new Roshn headquarters demonstrates a commitment to the people they work with, and to future communities across the kingdom. Scott Brownrigg announced the innovative design of the HQ interiors supports Roshn’s commitment to the Saudi people - of that of boosting the home ownership across the kingdom and thus enhancing the economic growth. In 2021, Roshn was named one of Saudi’s top ten employers and even clinched the ‘Best Places to Work’ award. It was recognised as a national leader in employee engagement.
Work progressing for heritage buildings restoration in Riyadh
Minister of Culture Prince Badr Bin Farhan inspected the project of restoration of urban heritage buildings of architectural and historical significance in the center of Riyadh. Prince Badr, who’s also the Chairman of Board of Directors of the Heritage Commission, launched the second phase of the project, after completing studies and designs, preparing and managing sites and temporary strengthening of buildings. The first phase of the project included 15 heritage palaces in Al-Fouta neighborhood and Dhahira, covering three palaces in Eastern Fouta, and seven palaces in Western Fouta, in addition to five royal palaces. The project aims to preserve urban heritage buildings of architectural and historical significance, highlight the local identity and transform these buildings into an economic, social, cultural and tourism resource. The Heritage Commission has included the sites in the National Urban Heritage Register.
$28.7m contracts awarded in Saudi Arabia
GAS Arabian Services Co., Saudi Arabia announces that it has signed the contract with Advanced Polyolefins Industry Company. The value of the contract is SAR 107.7 million. Project Scope of works includes Procurement & Construction of Sales Gas & Propane Pipelines including Tie-in’s & Metering Skids. The duration of the contract is 16 months.
SAR 14.85 million contract awarded for cloud migration in Saudi Arabia
Naseej for Technology Co. (Naseej Tech) has signed a contract worth SAR 14.85 million (including value-added tax) with the Saudi Technical and Vocational Training Corporation (TVTC) for the cloud migration and development of student e-services. This contract is aimed at migrating the core educational platforms such as the student information system and admission portal from TVTC Datacenter to a local cloud inside the Kingdom to assure high security, flexibility and scalability. This is in addition to benefitting from comprehensive managed services for these platforms for three years to ensure their sustainability and continuity. Moreover, Naseej Tech will implement a business intelligence platform, including redesigning its databases and approving internal quality services to complement the MEDAD Institutional Effectiveness Platform (IEP). The contract is expected to have a positive impact on 2023-2025 financial statements.
Sulaiman Al Habib announces new hospital project in Saudi Arabia
Dr. Sulaiman Al Habib Medical Services Group, Saudi Arabia announces to establish a new hospital project in Riyadh City by converting the Medical Center at Al Hamra district in Riyadh City to a hospital. The Project will be built on a land with an area of 13,300 square meters that is located on King Abdullah Road in Al Hamra district, in Riyadh City, which is owned by Al Marakez Al Awwalyah for Healthcare Company. The estimated total built-up area of the Project is 54,115 square meters, with capacity of 90 beds. The estimated cost of the Hospital Project is SAR 539 million. The ownership of the Project’s land will be completely transferred to a new company that will be established for this Project, which will be a subsidiary owned 100% by the Company. The Project is expected to be completed during the first quarter of the year 2025, subject to obtaining approvals from the relevant authorities.
Agreement signed to develop 270-villa project in Saudi Arabia
Ajdan, a leading Saudi developer, has announced its collaboration with Roshn, a PIF backed giga-project developer, to sub-develop over 270 villas within Roshn’s mixed-used community Sedra in North East Riyadh. Ajdan has signed an agreement to develop and market a total of 80,754 sq m plot of land within Sedra’s prime locations, which will allow it to design, build and sell modern, contemporary premium villas to high quality standards. Sedra, one of Riyadh’s most highly anticipated developments, will be home to over 2,100 residential units, public parks, playgrounds, entertainment areas, retail, community centres, schools, a sports hub, mosques, health clinics, and an abundance of restaurants and cafes once completed. Located north east of Riyadh within close proximity to the main roads and south of King Khalid International Airport, Sedra’s strategic location will make it a hotspot for locals and visitors alike. Ajdan’s project portfolio is currently focused on three main cities: Al Khobar, Riyadh and Jeddah—with plans on the horizon for rapid expansion into other cities and regions of Saudi Arabia. In Al Khobar, its developments span Ajdan Waterfront (including the popular Ajdan Walk and soon to open Fairmont Hotel), Bayfront, and now, Infiniti by Ajdan. Expansion plans include developments in Riyadh and Jeddah to follow. Ajdan Walk, the first completed component of the Ajdan Waterfront development, opened in 2019 and has since proven a huge success. The now-bustling Ajdan Walk enjoys a unique location in the heart of Al Khobar and It features the first food village in the eastern province with many leading international food brands located in and around Boulevard Street. Ajdan recently announced the SR250 million ($66.5 million) Bayfront project in Al-Khobar. Bayfront will be a mixed-use project located on the northern part of Al-Khobar’s beach, spanning over 100,000 sq m.
Gulf electricity interconnection expansion project to commence soon
The Electricity Interconnection Authority for Gulf Cooperation Council (GCC) countries will hold a ceremony on December 22, 2022 to kick start the implementation of the Gulf electricity interconnection expansion project, as part of the Gulf link project. The project aims to enhance the transfer and exchange of electrical energy between the GCC countries, as well as significantly contribute to strengthening Kuwait’s electricity network to ensure the sustainability of electrical energy and prevent power interruptions at all times. Kuwait will be the biggest beneficiary of the project since the capacity for supporting the electricity grid in Kuwait will be raised to about 3,500 megawatts; which will in turn develop the operational efficiency of the Kuwaiti network. The project will also enable the Electricity Interconnection Authority to supply electricity from the GCC countries to South Iraq, as it will be provided with a capacity of 500 megawatts. This is in addition to achieving a number of sustainable goals in the field of environmental health and well-being.
SAR 148.98 million contract signed for hospitals O&M in Saudi Arabia
Scientific and Medical Equipment House Co. (Equipment House) announced that it has been awarded a project contract worth SAR 148.98 million (including the value added tax) by the Ministry of Health. Equipment House will maintain, clean and operate non-medically five hospitals in Madinah, including Meeqat Hospital, Convalescent Hospital, Blood Bank, Medical Supply and Al-Haram Hospital. The project will take five years, with the relevant financial impact to appear on Q2 2023.
SAR 73.6 mln contract signed for steel pipes in Saudi Arabia
Group Five Pipe Saudi Co. signed a contract for the manufacture and supply of spiral-welded carbon steel pipes for water uses for the construction of the water pipeline from Briman reservoirs to Quwaiza reservoirs, including the lifting station in Jeddah, at a value of SAR 73.6 million (including VAT). The contract has a term of 894 days from the signing date, and is expected to be complete before the end of Q2 2025.
Group Five Pipe indicated that it is doing its best to accelerate the completion of the project according to the schedule agreed upon with the customer. The company's high production capacity will contribute positively to accelerating the completion of the project. The financial impact of this contract is expected to reflect through Q1 2023 to Q2 2025.
Agreement signed for 400kV OHTL Saudi Kuwait Interconnection Project
Al Sharif Group, Saudi Arabia and KEC, India JV (ASKEC) announced that it has signed contract related to 400kv Overhead Transmission Line. The Contract was signed with GCC Interconnection Authority ( GCCIA ) to execute a 400 kv Transmission Line between Kuwait and Saudi. The prestigious interconnection project spanning 209 km will enable free flow of reliable power between Kuwait and Saudi Arabia and aid in their economic development and growth.
MOU Signed for Yanbu petrochemical complex in Saudi Arabia
Saudi Basic Industries Corporation (SABIC) announces that it has signed a Memorandum of Understanding (MOU) with Saudi Arabian Oil Company (Saudi Aramco) and China Petroleum & Chemical Corporation (Sinopec) for a Petrochemical Complex located in Yanbu, Saudi Arabia. As part of the MOU, the firm will perform economic and technical feasibility study to develop an integrated petrochemical complex with an existing refinery in Yanbu. The duration of the MOU is 18 months. Additionally, Aramco and Sinopec, have signed heads of agreement for a greenfield project in Gulei, Fujian Province, which plans to include a 320,000 barrels-per-day refinery and 1.5 million tons-per-year petrochemical cracker complex. It is expected to commence operations by the end of 2025.
Expression of Interest invited for courthouse complex in Saudi Arabia
Saudi Arabia’s State Properties General Authority (SPGA), through the National Centre for Privatisation and PPP (NCP), has invited companies to express interest in the contract to develop a courthouse complex public-private partnership project in Mecca. NCP expects to receive expressions of interest (EoIs) for the Ministry of Justice Courthouse Complex in Mecca by 12 January 2023. The planned complex will be built on a land area totaling 111,000 square metres (sq m). The project involves the construction of 79 courtrooms and seven courts. It will also include a car park area that can accommodate over 3,000 vehicles. The Mecca courthouse project will be developed using a design, build, finance, maintain and transfer contract model.
SAR 37.6 mln supply contract signed for ICT solutions in Saudi Arabia
Al Moammar Information Systems Co. (MIS) has been awarded a project contract to supply and install extra-low voltage (ELV) systems and information and communication technology (ICT) solutions. The contract, awarded by BK GCC Co., is valued at SAR 37.6 million (including value-added tax). The contract, which is expected to be signed on Jan. 29, 2023, covers the supply and installation of ICT & ELV systems for three data centers in the Eastern Region within Saudi Arabia’s large-scale SAHAYEB data centers project.
SAR 56.5 mln wastewater treatment contracts signed in Saudi Arabia
Nama Chemicals Co. announced that its subsidiary, Jubail Chemicals Co. (JANA), signed contracts with a consortium, comprising Green Dimension Co. and Confident Engineering International Co., at a total value of SAR 56.54 million. The deals, which will run for 18 months, will help cut operational expenditure (OpEx) and improve production efficiency. Their scope of work will cover engineering studies, the supply of all materials and equipment and construction of units responsible for the treatment of the water's calcium chloride and epoxy resins components. The project's expected impact will begin to appear in the petrochemical producer's earnings on Oct. 1, 2024. The project cost is estimated at SAR 63 million, including infrastructure and related civil works, indicating that it will be self-financed. Project construction will run from Jan. 1, 2023, until June 30, 2024. Trial production will commence on July 1, 2024, for two months, provided that commercial production will begin on Sept. 1, 2024.
Deal signed for 554-unit residential project in Dubai
Saudi-based Retal Urban Development Company has announced that it has signed two agreements with leading real estate group Roshn for the development of a total of 554 residential units at its landmark project, Sedra, located in northern Riyadh. The pact with Roshn, a unit of Saudi sovereign wealth fund PIF (Public Investment Fund), will see residential villas and apartments being built within Sedra at a total investment of SR357 million ($95 million). The project will come up on a total area of 96,913 sq m within Sedra. Retal announced as per the first agreement, the project will get completed within two years, while for the second project it will take three years. These agreements will have a positive impact on the financial results for the 2023-25 period.
SAR 44 mln land lease deal signed to build educational complex in Riyadh
National Company for Learning & Education (NCLE) signed a land lease contract to construct and operate an educational complex under the name Tarbyh Namouthajiyah Schools affiliated to NCLE. The contract is for land spanning 9,991 square meters (sqm), located in An Narjis District, Riyadh.The contract is valued at SAR 2.15 million annually, with an increase of 4% every year from the eleventh year. The total contract value will stand at SAR 44 million (excluding value-added tax). The contract is valid for 20 Hijri years and has two years grace period that does not entail any rental value. The investment is part of the company's strategy to expand the student base to generate the growth and returns that will help achieve NCLE’s strategy. The financial impact of the contract is expected to start upon the completion and operation of the project.
SAR 192 mln contract signed for housing complex project in Saudi Arabia
Red Sea International Co. (Red Sea) signed a contract worth SAR 192.01 million with Royal Commission for AlUla (RCU) to construct an integrated housing complex in AlUla. The contract was awarded on September 29, 2022. The one-year contract includes the design, construction, supply and installation of modular, high-quality, and fully furnished accommodation units, which will serve as the housing complex for one of RCU’s strategic projects in AlUla. The contract has a term of three months with the financial impact to be realized in Q1 2023.
SAR 2.7 bln deal signed for supply & install smart equipment in Saudi Arabia
Saudi Electricity Co. (SEC) signed two contracts worth SAR 2.7 billion to supply and install 60,000 smart equipment in the Kingdom's electricity distribution network. This also aims to link the network to advanced control centers over the next two years.
The first project, which is valued at SAR 1.5 billion, was concluded with China State Construction Engineering Corporation, to supply and install more than 33,000 smart equipment for the electrical network in the Central and Eastern regions.
The second project worth over SAR 1.2 billion was signed with Al Gihaz Contracting Co. to supply and install more than 23,700 smart equipment in the Western and Southern regions.
These projects will be followed by others to achieve the smart network targets, contribute to improving the efficiency and quality of electrical services, as well as facilitate fault detection and faster processing. This also aims to shorten the duration of electrical disconnection, boost customer satisfaction, as well as ease control and monitoring of the network remotely.
Construction commenced on a multibillion mega project in Saudi Arabia
Um Al-Qura Development and Construction Company, owner and developer of the multibillion mega project Masar in Makkah, laid the foundation stone marking the launch of construction work of the primary package of hotel projects announced last October 2022. The construction represents seven hotel towers in collaboration with top-tier local and international consulting firms and an investment value that exceeds SR7 billion ($1.86 billion). These continuous developments are part of Masar Destination’s efforts to elevate the hospitality sector in the Holy City to international standards.
Umm Al-Qura Company has signed agreements with global chains Kempinski and Taj to operate two five-star hotel towers; this will be Kempinski’s first in Makkah and Taj’s first operation in Saudi Arabia. Masar will also house the global chain Embassy Suite By Hilton, which will operate a four-star hotel tower. This hotel group will enjoy a unique location in the central region of Makkah and is approximately 500 meters away from the Grand Mosque. It will be home to many facilities, which include a mall with an area of more than 43,000 square meters, a car parking, in addition to a stop for rapid transit buses.
The diversity of international brands in Masar will create an integrated destination and multiple options for visitors coming to Makkah Al-Mukarramah, which is in line with the standards of global destinations with distinguished services and experiences, and our goal of raising and improving the quality of life and visitor experience to the Holy City. Upon completion, Masar will represent an unparalleled integrated urban destination to serve the residents and visitors of Makkah. It aspires to contribute to one of the most important goals of Vision 2030 by raising the capacity of pilgrims to 30 million by the year 2030.
Work to start on $1.1bn desalination projects in Saudi Arabia
Saudi Arabia's National Water Company (NWC) is set to start work on a range of water desalination projects worth more than SR4.3 billion ($1.1 billion) covering key regions of Dammam, Al Khobar, Al Ahsa and Qatif. The project scope includes implementation of more than 316 km of conveyor and main lines, and the construction of operational reservoirs with a capacity of 1.5 million cu m in addition to projects to improve water networks. NWC announced the engineering design work for the projects has been fully completed and the preparation of operational reservoir construction sites as well as the work on the main and branch pipelines will begin this month. These projects will be implemented using the best and latest technologies, in coordination and integration between all relevant authorities to ensure the speed of completion of projects and maximize the benefit from them. It will contribute to strengthening the infrastructure of the distribution system and ensuring the efficiency of its operations in the cities and governorates of the Eastern Region. The project, which is due for completion in 2025, will be beneficial to more than four million of the kingdom's residents.
Agreement signed to set up $3.2bn industrial complex in Saudi Arabia
Saudi-based Rafal Real Estate Development has announced that its joint venture with Citic Construction, a subsidiary of China's state-owned conglomerate Citic group, has reached an agreement with National Housing Company for the construction of an industrial complex in Riyadh. The complex offers fully integrated supply chains - ranging from advanced green pre-cast to modular housing solutions in addition to related industries spanning electro-mechanical installation and other finishing materials - that are essential for the construction of scalable social housing projects within the shortest time schedule. As per the deal, Saudi National Housing Company will extend its support to the JV by providing a strategic location for the facilities serving the newly-planned masterplans in the North-East of Riyadh. It will also provide a land block bank serving 20,000 homes for the first phase of the project. The estimated capex of the complex and construction of the houses will be over SR12 billion ($3.2 billion). Citic Construction Chairman announced: 'We are pleased to participate in the development of the Saudi construction industry and will mobilize all the relevant resources, along with Rafal, the strong local partner, to have a good invest-build-operate service for the a/m complex with the latest technology and to complete the construction of the 20,000 homes at the earliest possible time, meeting the urgent demands of the local people. The project shall create jobs, provide training and support the local ecosystem to achieve the local content objectives ultimately. Construction works is expected to begin in Q3 next year and the production and operations are targeted for January 2024.
MOU signed to build cryogenic capture technology project in Saudi Arabia
In what will be one of the largest demonstrations of cryogenic carbon capture technology, a pilot project between King Abdullah University of Science and Technology (KAUST), ENOWA, NEOM’s Energy & Water company, and the Saudi Electricity Company (SEC) is expected to capture 30 tonnes of carbon dioxide per day from SEC’s Green Duba Integrated Solar Combined Cycle (ISCC) power plant at NEOM. Cryogenic carbon capture technology is a highly energy efficient and low-cost process with the potential to radically reduce carbon emissions, and, therefore, the carbon footprint of the Kingdom. The carbon captured at the pilot plant is then ready to transport as pure liquid CO2 at room temperature, suitable for food and beverage applications, and with the majority used to produce e-fuels designed to replace fossil fuels for internal combustion engines. Saudi Electricity Company will build and operate the pilot plant. All three partners are committed to the global momentum to increase the use of efficient and affordable carbon capture technology. The project exemplifies a call to action echoed at both COP27 and SGI for more collaborations between private and public sectors, in this case, government, industry and academia working together toward sustainability goals. The project is being funded by KAUST and The National Industrial Development and Logistics Program (NIDLP).
Deal signed for residential community development in Saudi Arabia
Retal Urban Development Co. signed an agreement with Wajha Alpha for Investment Co., a special purpose vehicle owned by a real estate development fund managed by Alpha Capital, to develop, market and sell residential community located in Tharwa Town between Al-Khobar and Dammam cities in the Eastern Province. The contract duration is 30 months and the expected returns are SAR 64.29 million. The agreement covers 142,430 square meters of land with 386 units. The agreement is expected to positively impact the financial results 2023, 2024 and 2025.
SAR 42.71 million contract signed for data center & IT technologies in Saudi Arabia
Al Moammar Information Systems Co. (MIS) signed a contract to unify the data center and modernize IT technologies with Rabigh Refining & Petrochemical Co. (Petro Rabigh), for a total amount of SAR 42.71 million, including value-added tax (VAT). The 84-month contract will reflect positively on the company's financial statements for Q1 and Q2 2023.
Plans underway to build mega-tall tower in Saudi Arabia
Saudi Arabia’s Public Investment Fund (PIF) is considering plans for a 2-kilometre megatall tower as part of an 18-square-kilometre masterplanned development to the north of Riyadh. The proposed tower will be more than double the height of the world’s tallest building – Dubai’s Burj Khalifa, which is 828 metres tall. Depending on the final design, a 2km-tall structure could cost about $5bn to construct. A design competition with a participation fee of $1m is underway for the record-breaking tower. about eight firms have been invited to participate in the competition. The firms involved include some of the world’s leading names in architecture, which have been selected based on their experience working on other megatall towers and iconic designs around the world.
The prospective participants include US-based firms Skidmore, Owings & Merrill (SOM), Adrian Smith & Gordon Gill Architecture, Kohn Pedersen Fox (KPF) and Gensler; 10Design, which is part of France’s Egis; and Dubai-based Killa Design. The project site is located west of the existing King Khalid International airport, and EY conducted the feasibility study for the development.
SAR 8.7 mln medical operation project tender awarded in Saudi Arabia
Scientific & Medical Equipment House Co. has been awarded a medical operation project tender in the medical centers affiliated to the General Department of Medical Services, at a total value of SAR 8.71 million (including value-added tax). The project will be implemented in 14 months. The medical operation will be in four medical centers affiliated to the department: Al Nakheel Medical Complex (Riyadh), Jeddah Medical Center (Jeddah Governorate), Taif Medical Center (Taif), and Al-Muzahimiyah Medical Center (Al-Muzahimiyah). The company expects that the financial impact of the project to reflect during the second quarter of 2023.
Partnership agreement signed for indoor adventures centres in Saudi Arabia
Saudi Entertainment Ventures (Seven), a subsidiary of the kingdom's Public Investment Fund (PIF), has signed an exclusive partnership agreement with Warner Bros. Discovery, a global leader in real-life entertainment, to bring purpose-built indoor adventures centres to the Kingdom which integrate Discovery’s media content. Seven is investing more than SR50 billion ($13.3 billion) to build 21 entertainment destinations which will provide unique and innovative world-class entertainment experiences and global partnerships from within the sector. The upcoming projects are located in 14 cities across the Kingdom: Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Madinah, Yanbu, Abha, Jazan, Buraidah, and Tabuk.
The first Discovery Adventures centre, spanning an area of around 3,000 sq m, will open in Riyadh at Seven’s entertainment destination, located in the Al Hamra district, and will be Discovery’s inaugural indoor adventures centre globally. Seven has partnered with Mycotoo, the leading agency in entertainment strategy and experience design, to design and develop the Discovery Adventures centres to provide unique, fun entertainment. More Discovery Adventures centres are being planned across Seven’s entertainment destinations in the Kingdom, and details of the new locations and sizes will be announced in due course.
Hyatt Hotel plans major expansion in Middle East
Hyatt plans major expansion including 4 new hotels in Gulf. Planned luxury openings through 2025 include:
Park Hyatt Riyadh Diriyah Gate (Riyadh, Saudi Arabia): Expected to open in 2025, Park Hyatt Riyadh Diriyah Gate in the Kingdom of Saudi Arabia will be part of the much-anticipated Diriyah Gate Development overlooking Al-Turaif’s Unesco world heritage site. Over 7 sq km of Diriyah will be transformed into one of the world’s foremost historic tourism destinations offering guests a refined home-away-from home and new ways to experience the history of Saudi Arabia.
Miraval The Red Sea (Shura Island, Saudi Arabia): Scheduled to open in late 2025, the 180-room luxury wellness resort, Miraval The Red Sea will introduce the wellness brand’s signature mindfulness-based wellness practices to a new corner of the world, empowering guests with tools and inspiration to find balance and support their emotional and mental wellbeing. Located on Saudi Arabia’s Shura Island, the central hub of the highly anticipated new hospitality development, The Red Sea Project, the new Miraval resort will pave the way bringing transformative wellness experiences and the largest spa in the Red Sea destination.
Grand Hyatt The Red Sea (Shaura Island, Saudi Arabia): This 430-room Grand Hyatt hotel on Shaura Island, the hub of the ambitious Red Sea Project on Saudi Arabia’s west coast, is expected to open in mid-2024. This luxury resort hotel will represent the largest of 11 hotels set to open on the island and will occupy a prime position within this innovative tourist development. Grand Hyatt The Red Sea will be the second Grand Hyatt hotel in the Kingdom and the seventh Grand Hyatt hotel in the Middle East, marking an important milestone in Hyatt’s strategy for brand growth in the region.
Andaz Doha (Doha, Qatar): Located in the centre of vibrant West Bay, and set to open in early 2023, Andaz Doha is part of the city’s iconic skyline of architectural ‘œuvre d’arts’. Bringing lifestyle, locally inspired design and contemporary art to a new level, the hotel will offer 256 rooms with 32 suites and four Royal suites, 56 residences, a signature restaurant, a Singaporean street food restaurant and a jungle-themed bar, an outdoor pool, a fully equipped fitness studio, and more. In close proximity to most embassies, financial institutions and luxury shopping malls, Andaz Doha is beating with the heart of Doha.
SAR 373.9 mln contract awarded for infrastructure works in Saudi Arabia
Saudi Real Estate Co. (Al Akaria) announced that its subsidiary, Saudi Real Estate Infrastructure Co. (Binyah), signed a contract worth SAR 373.9 million (inclusive of VAT) with Diriyah Gate Co. The contract is to enable the construction works for Diriyah Gate’s second phase, as well as site preparation and earthworks such as excavation, backfilling, land leveling, compaction, and associated works. The 548-day contract does not have any related parties. The relevant financial impact will reflect on Q1 2023 and Q2 2024 financials.
Hilton signs multiple hotel partnership deals in Saudi Arabia
Hilton, a global hospitality company, has announced a strategic partnership with the Saudi Tourism Development Fund (TDF) – as well as agreements with several public and private developers for new hotels in destinations across Saudi Arabia. Hilton expects to grow its portfolio to more than 75 hotels in the Kingdom across multiple award-winning brands. Hilton and TDF signed a memorandum of understanding (MoU) to develop family-friendly leisure destinations across several Saudi locations in alignment with the National Tourism Strategy. These destinations will have one or more of Hilton’s brands, including Hilton Hotels & Resorts, Canopy by Hilton, and Motto by Hilton. Hilton will share its expertise and knowledge with the Fund to facilitate the development of these destinations, which will include waterparks, entertainment venues, food and beverage outlets, adventure activities, and other leisure amenities.
Hilton’s Saudi Arabia expansion includes the signing of Waldorf Astoria Diriyah, in partnership with the Diriyah Gate Development Authority (DGDA). At the heart of the Diriyah masterplan, the iconic 200-guest room Waldorf Astoria Diriyah will offer guests a world of timeless luxury and world-class hospitality. Diriyah is the Kingdom’s foremost heritage, culture and lifestyle destination, and the Waldorf Astoria will be located in a prime position, surrounded by high-end restaurants, luxury retail stores, residences, art galleries and museums. Hilton and Alshaya Group have signed agreements for Canopy by Hilton Al Khobar Ajdan Waterfront and Hampton by Hilton Hafr al-Batin. Expected to open in 2026, the 120-guest room Canopy by Hilton Al Khobar Ajdan Waterfront will give guests convenient access to a range of nearby leisure options. Meanwhile, Hampton by Hilton Hafr al-Batin is slated to open in 2025 and will stand near to King Khalid Military City and Hafr al-Batin University, benefitting from excellent road connections and offering 224-guest rooms.
Work commenced on $1.14bn desalinated water distribution system in Saudi Arabia
The National Water Company (NWC), Saudi Arabia announced the launch of the implementation phase of the desalinated water distribution system projects in Dammam, Al-Khobar, Al-Ahsa, and Qatif, for covering them completely, round-the-clock with desalinated water. The projects include the implementation of more than 316 kilometers of conveyor and main lines, and the construction of operational reservoirs with a capacity of 1.5 million cubic meters, in addition to projects to improve water networks. The company indicated that the engineering design work for the projects has been completed, the preparation of operational reservoir construction sites, and the supply of implementation materials and equipment to start extending the pipes of the main and branch lines will be in the current month of December.
The total cost of the projects exceeded 4.3 billion Saudi Riyals and that it is expected to be completed in the period ranging between14 and 26 months, one by one, to serve more than four million beneficiaries. The company stated that these projects will be implemented using the best and latest technologies, in coordination and integration between all relevant authorities to ensure the speed of completion of projects and maximize the benefit from them, stressing that it will contribute to strengthening the infrastructure of the distribution system and ensuring the efficiency of its operations in the cities and governorates of the Eastern Region.
Design contract awarded for NEOM container activation terminal buildings in Saudi Arabia
Engineering Consultants Group (ECG) announced that it has been awarded the design of NEOM Container Activation Terminal buildings in Zone C located in Oxagon settlement, Oxagon City, NEOM. The project consists of customs buildings, administration offices and other facilities. The project is located in OXAGON settlement, Zone C, on a land area of 342,999 m2; including terminal buildings and canopy structures, roads and utilities networks, security and fences, and gates and barriers.
Contract awarded for new water mobility model in Saudi Arabia
Idom, a leading Spanish multi-national group providing consulting, engineering and architecture services, announced it has been awarded a key contract by Neom, the developer of a mega futuristic city in Saudi Arabia, for a new water mobility paradigm. As per the deal, Idom will collaborate with Neom on the design of a waterborne transport network featuring a zero-emission fleet. Residents and visitors can then move in a sustainable and efficient way, with the highest standards of comfort, around a region with extensive coastal areas on the Red Sea and Gulf of Aqaba, and numerous islands. Idom is putting its extensive knowledge and experience in the field of port and maritime transport at the service of this project, one of the most impressive and exciting in the world, it added. The upcoming project Neom is the sustainable regional development in northwest Saudi Arabia and an accelerator of human progress and a vision of what a 'New Future' might look like. Neom has established core principles to deliver this, such as on-demand and connected services, active and micro mobility, the use of electric and zero-emission vehicles, which will be fueled by a solar-powered grid, as well as autonomous shared mobility and public transit. It will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. And for this ambitious region, a truly sustainable multi-modal mobility system is needed.
Contract awarded for infrastructure development in Saudi Arabia
Alwasail Industrial Co. signed a contract for the development of Yarmouk Project, spanning 112,176 square meters (sqm) in Burayadh, Qassim. Under the contract, the entire land will be developed as per the deed of landfills and leveling plots, within the acceptable limits of landfills and asphalting. This is based on the specifications described and approved by Qassim Municipality.
This also includes installing the electrical network of the project, according to the government specifications approved by Saudi Electricity Co. (SEC). This is in addition to extending the torrential lines, as well as supplying, extending and installing concrete pipes with a diameter of 1,000 millimeters and a length of 140 meters. Moreover, it covers the installation of two torrential traps, as part of the project, as well as the issuance of the survey report for the complete plots until being transferred to the notary public. The contractor will also build the electricity rooms. The project will last one year from the licenses' issuance date.
SAR 238.3 mln construction contract awarded for a hotel in Saudi Arabia
Taiba Investments Co. awarded the main construction contract for the Novotel Hotel Project in Madinah, which will be built on land owned by its subsidiary, Al Aqeeq Real Estate Co., at a total value of SAR 238.31 million (excluding value-added tax), to Orient Construction Company Weavers Ltd. The land, spanning a total area of 1,822 square meters, is located west of the Prophet’s Mosque in the central area of Madinah. The 4-star Novotel Hotel comprises 18 floors, a mezzanine and 12 frequent floors, with 394 rooms and royal suites. The hotel will have a central restaurant, trade fairs, car park as well as hotel services allocated from the fourth basement up to the mezzanine floor.
Deal signed for Makkah villa project in Saudi Arabia
Saudi-based Sumou Real Estate Company has signed an agreement worth SR377 million ($100.3 million) with the kingdom's National Housing Company for the construction of residential units on a 88,570 sq m area within its key development in Makkah. These homes will come up on the land allocated to Sumou Real Estate in the No. 8 area of the Makkah Gate project. In another development, Sumou Real Estate has signed a sales and marketing agreement with Adeer Real Estate company for the development of its Dahiyat Al Wajihah project on a 72,924-sq-m area in Dammam city. These residential units will come up on the lands allocated by the National Housing Company to the group. As per the contract, Adeer Real Estate will receive 2.5% from the value of the sold units for marketing and selling units including sales and marketing expenses. The project is expected to have a positive financial impact on the company's results at the start of sale and implementation.