Construction Industry News

Major Ongoing Construction Projects in Riyadh

Major Ongoing Construction Projects in Riyadh

8th October 2014

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With over US$1.2 trillion worth of projects planned or under various stages of construction, the Kingdom of Saudi Arabia still remains at the top spot of the GCC construction projects market. Some of the major ongoing projects in the capital city, Riyadh include the following:[..]

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Omniyat Group and Drake and Scull break ground on US$ 544 mn One at Palm Jumeirah project

Omniyat Group and Drake and Scull break ground on US$ 544 mn One at Palm Jumeirah project

8th October 2014

Developer Omniyat Group and Drake & Scull have today broken ground on the AED 2 billion (US$ 544 million) One at Palm Jumeirah project in Dubai. Mahdi Amjad, executive chairman and CEO of the Omniyat Group and Khaldoun Al Tabari, vice chairman and CEO of Drake & Scull International (DSI), were on hand to do the honours at the premium residential development located at the trunk of the Palm Jumeirah. The scheme scheduled to be completed in 2017.[..]

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Saudi to build 414,000 affordable housing units in Makkah as part of ESKAN

Saudi to build 414,000 affordable housing units in Makkah as part of ESKAN

8th October 2014

The Saudi Housing Ministry intends to establish 414,000 housing units for limited income groups among citizens in Makkah, adding that the units would be distributed among deserving citizens at reasonable rates. "These housing units will be taking limited space and will account for 45 percent of the 920,000 new units planned for the city," the ministry said. It said the plan was aimed at reducing the number of Saudis living in rented apartments by 50 percent in 2040. "We intend to provide 100,000 housing units, expecting that Saudis would be able to meet cost within 10 years."[..]

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Site preparation work begins on Falcon Island RAK for construction of 150 properties

Site preparation work begins on Falcon Island RAK for construction of 150 properties

7th October 2014

Preparation work has begun on Falcon Island in Ras Al Khaimah with the clearing of the private island ahead of the construction of 150 properties. Situated at the heart of Al Hamra Village, Al Hamra Real Estate Development said that Falcon Island is set to play host to one of the most sustainable pieces of real estate in the Middle East, and will combine sustainable buildings with the latest smart city technologies and exquisite craftsmanship of Italy’s luxury furniture masters Clubhouse Italia – Luxury Living.[..]

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BP awards two drilling rig contracts totaling US$ 730 mn for the Khazzan gas project in Oman

BP awards two drilling rig contracts totaling US$ 730 mn for the Khazzan gas project in Oman

7th October 2014

BP has awarded a pair of contracts for the construction and operation of drilling rigs for the Khazzan onshore gas project in Oman.The firm has awarded two deals worth US$ 730 million for drilling rigs. The first is a US$ 400 million contract with KCA Deutag, which will supply five new-build land rigs for the project. These will be assembled in Nizwa in order to maximize employment opportunities for Omanis.[..]

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