Construction Industry News

Barwa aims to launch new projects this year

9th April 2014

Barwa Real Estate announced that it is planning to launch residential and commercial projects in the current year. Speaking at company’s Ordinary Annual General Meeting Salah bin Ghanim Al Ali, Chairman, Barwa Real Estate said Barwa has an exciting land bank of opportunities which are being assessed to identify the best use of the company’s assets with the aim of maximising shareholder value. “As Barwa continues on the path to develop integrated communities, another project that will be launched soon is Fox Hills North located in the city of Lusail. This project once completed will have about 3,000 units,” he said, adding that Phase I of this project is Dara, which will be offered to the public this year. “Construction works also expected to start on Barwa Al Doha, which will be developed as a strip retail catering to local merchant traders,” he said, reported The Peninsula.[..]

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Maire Tecnimont-Archirodon JV bagged US$1.7 billion Egyptian Petrochemical deal

8th April 2014

Carbon Holdings Ltd. (CHL) of Egypt awarded  engineering, procurement, construction, and commissioning (EPCC) contract for the development of its Tahrir petrochemical complex planned at Ain Sokhna, Egypt to a consortium consisting of Maire Tecnimont SPA, Milan, and Netherlands-based Archirodon Group NV. The contract was signed on April 6 in Cairo, Maire Tecnimont said. The EPCC contracts, awarded on a direct-negotiation basis, are valued at $1.7-1.95 billion, 50% of which will go to Maire Tecnimont, the company said.[..]

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Kuwait raises oil output capacity

8th April 2014

Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5m bpd in 2015, the head of its state oil company said on Monday. Kuwaiti officials have previously said that capacity was around 3.1-3.2m bpd.[..]

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Alfardan Hospitality and Kempinski Hotels signed deal for a five-star hotel on The Pearl, Qatar

7th April 2014

Qatar's Alfardan Hospitality and Kempinski Hotels have signed a deal to launch a five-star hotel projectMarsa Malaz Kempinski - The Pearl, Doha. The development which spans 500,000sq.ft and will overlook The Pearl, Qatar and the Arabian Gulf. The second project to be undertaken by Alfardan Hospitality in partnership with Kempinski Hotels, the first being Doha’s tallest hotel tower, the Kempinski Residences and Suites.[..]

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Saudi Arabia begins construction of US$22.5 Billion Riyadh metro project

7th April 2014

Saudi Arabia has begun construction work on its long awaited first metro rail system in the capital Riyadh. The US$22.5 billion project will involve construction of six rail lines extending 176 kilometers and carrying electric, driverless trains, in what Saudi officials project to be the world's largest public transport system. The project is expected to be completed in 2019.[..]

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Saudi Arabia to set up 3 new Universities

3rd April 2014

The Custodian of the Two Holy Mosques King Abdullah has ordered the establishment of three new universities in Jeddah, Bisha and Hafr Al-Baten. It will bring the total number of public universities in the Kingdom to 28, reported Arab News.[..]

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Diyar Al Muharraq and ARKIS signed agreement to build school

3rd April 2014

Gulf Daily News reported that Abdulrahman Kanoo International School (ARKIS) has signed an agreement with urban developer Diyar Al Muharraq for building a school within the master-planned project.  For the signing of land purchase agreement, Diyar Al Muharraq was represented by chairman Abdulhakim Alkhayyat, managing director Aaref Hejres and chief executive Dr Maher Al Shaer while ARKIS was represented by board member Tariq bin Abdul Latif Kanoo, along with Mubarak Atwi, Abdul Samad Abu Baker and Sunil Raj.[..]

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