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Aman Group and Diriyah Company announced two new projects in KSA

Staff Writer | May 01 2023

Ventures Onsite Construction News Update

In the news this week

Sharjah approves US$27mn for replacing fire-risk cladding

In UAE, His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved US$27 million for replacing fire-risk cladding on 40 buildings, this will be phase 1 of the program with a second phase for an additional 163 buildings that are considered lower risk.

This initiative is said to be the first such project in the world in which the government is bearing the cost of replacing fire-risk cladding with safer materials.

Samana Developers unveils new project

Samana Developers have unveiled a new $81.74mn mid-luxury residential project, located in Arjan, Dubai. The project covers 420,000 sqft and will have 276 residential units and 24 retail units. Completion expected in October 2025.

Danube Properties launches a new FashionTV-branded tower

Danube Properties has joined hands with FashionTV brand for the launch of its new upscale residential tower project in Jumeirah Village Triangle. Fashionz will feature over 700 apartments spread across 65 floors.

It will boast top-class amenities, including a FashionTV gym, bar with a swimming pool, restaurants and cafes in addition to a Zumba and dance studio, meditation zone, trampoline park, fashion ramp, padel court, and a Japanese garden.

Sobha Realty launches a US$762mn project

Sobha Realty has launched ‘Sobha Reserve’, a luxurious villa community with a forest landscape valued at US$762 million in Wadi Al Safa 2, Dubailand.

Spread across 3.47 million sq.ft, Sobha Reserve comprises over 300 villas of four- and five-bedrooms, each with its own private luxury pool and adjoining gardens.

Monarch company partners with EHang Holdings

Abu Dhabi-based Monarch Holding and Chinese company EHang Holdings, a leading autonomous aerial vehicle (AAV) technology company.

Signed a partnership agreement to establish the first facility in the MENA region to manufacture and operate sustainable, electric-powered aircraft and drones for passengers and cargo transportation in Abu Dhabi.

Aman Group announced two new projects

Aman Group announced two new projects in Saudi Arabia in partnership with Diriyah Company. Aman Wadi Safar, to be located near the city of Riyadh, will be home to a 78-key Aman hotel, a collection of up to 34 Aman
Branded Residences, and expansive amenities.

Janu Diriyah, expected to open in 2026, will be located within close proximity to the Unesco Heritage Site of At-Turaif – and will comprise 120 hotel rooms and a spa.

Salalah Free Zone partners with Besto Hengda

Salalah Free Zone has signed a new investment agreement with Chinese Besto Hengda Oman valued at US$230 Mn for the establishment of a major ferroalloy and high-quality packaging paper production plant in Salalah.

In the first phase development, the plant, to be built on an area of 300,000 square meters and will have annual production capacity of 90,000 tonnes of ferrosillicon alloys. The output will be doubled in the second phase.

Egypt unveils ‘New Delta’ US$5.25bn project

Egypt has recently unveiled an ambitious project to construct a man-made river stretching for 114 kilometres.

The US$5.25bn initiative, dubbed the ‘New Delta,’ will ensure access to sustainable water resources for the country as well as the region. According to the Egyptian President, the New Delta project will be the largest project in the history of Egypt.

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