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Agreements worth US $658 million awarded by ADNOC

Staff Writer | Mar 21 2022

Ventures Onsite Construction News Update

Hyundai Engineering signs deal worth $160M with Kuwait Ports Authority

Kuwait Ports Authority (KPA) has awarded South Korea’s Hyundai Engineering & Construction a rehabilitation and development contract for the development of seven port berths in a deal worth around US$160 million at Mina Al-Shuwaikh.

ADNOC awards 5 companies to expand its crude oil production

Abu Dhabi National Oil Company (ADNOC) had awarded framework agreements valued at US $658 million to five companies for cementing services as it continues to invest to enable drilling growth and expand its crude oil production capacity. The agreements were awarded to Haliburton Abu Dhabi, Baker Middle East, Emirates Western Oil Well Drilling & Maintenance Co, NESR Energy Services and Emjel Oil Field Services, covering ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years.

World’s First Louvre branded residence to be developed in UAE

Aldar Properties and Louvre Abu Dhabi have partnered to launch the world’s first Louvre branded residences in the capital city. Located within Saadiyat Grove, Louvre Abu Dhabi Residences will feature 400 apartments including studios, one-, two- and three-bedroom apartments, as well as five penthouses and set for completion in 2025.

$272 million residential project unveiled by Al Hamra

Ras Al Khaimah developer Al Hamra unveiled a US$272 million residential project comprising 501 villas ranging from two- to seven-bedroom units. Titled Falcon Island, the project will be built within Al Hamra Village with construction set to begin in the second quarter of this year and completion in 24 to 28 months.

Four Seasons Hotels and Resorts and Diriyah Gate Development Authority

Four Seasons Hotels and Resorts and Diriyah Gate Development Authority (DGDA) have revealed plans for a luxury property to be built within the Diriyah development. Four Seasons Hotel Diriyah will have around 150 rooms and suites, meeting and event spaces, 4 restaurants, a wellness spa with seven treatment rooms and a fitness centre, as well as two outdoor pools with private cabanas.

New residential project launched by Dar Al Arkan

Saudi Arabian real estate developer Dar Al Arkan and Qatari Qetaifan Projects jointly unveiled Les Vagues residences by Elie Saab in Qatar. Work on the development featuring 70 one, two and three-bedroom sea-front residencies will start in the second quarter of 2022.

Future Projects Forum will take place this week

The Saudi Contractors Authority’s Future Projects Forum will take place this week on the 21st and 22nd of March – at the Hilton Granada Hotel in Riyadh. The Forum aims to involve more than 30 government and private entities to present more than 1,000 projects of various sizes with an estimated combined value exceeding $160 bn.

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