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In the news this week
In UAE, Dubai’s Roads and Transport Authority (RTA) signed an agreement with Nakheel to construct direct entrances and exits to the Dubai Islands project from Bur Dubai.
The bridge spans 1,425m with four lanes in each direction with a total capacity of 16,000 vehicles per hour in both directions.
UAE steel companies CIM Steel Industry LLC, Rhino Steel, Metal Care Center Factory LLC, and Aziz Steel have come together under the Umm Al Quwain Industrial City Authority (UICA) to transform a land into a specialized metal zone with an investment of US$136mn.
CIM Steel Industry is committing US$68mn to establish a cold rolling mill complex; Rhino Steel is injecting US$30mn to set up a fully automated continuous coating line; Metal Care Center Factory LLC is contributing US$22mn to develop a steel melt shop and downstream long product rolling mill while Aziz Steel is initiating steel forming lines with an investment of US$16mn.
MAG Group unveiled its latest luxury project, the US$545mn Keturah Business Bay in Dubai. The tower, set to be completed by the 3rd quarter of 2027, boasts to immerse residents in nature through the ‘Bio Living’ concept that incorporates nature into the built environment to improve the physical, mental and emotional health of its residents.
In Kuwait, Turkish contractor Limak was awarded US$764.87mn government contract to build part of a new terminal at Kuwait airport. The scope of work includes aircraft parking aprons, taxiways and service buildings.
In Saudi Arabia, Roshn announced four major commercial partnerships, totaling over US$2.4 bn. US$2.04bn contract was awarded to China Harbour Engineering Company to develop future projects at the Sedra and Warefa communities in Riyadh; a US$155mn contract to PC Marine Services for canal and bridge construction in Marafy community.
Another contract to Saudi Abyat to design and supply around 12,000 kitchens and a $190 Mn contract to Saudi Pan Kingdom Company for primary and secondary infrastructure works in Roshn’s upcoming and yet-to-be announced communities in Saudi Arabia’s western regions.
The King Salman Park Foundation has joined hands with Naif Al Rajhi Investment Company for the launch of a new mixed-use real estate development project spread over an area of 290,000sq.m at a total investment of $1.1 billion.
The development will comprise 1,500 residential units along with 140,000 of gross leasable areas for offices and retail, hotels, schools, and several educational, health, sports, recreational and social facilities.
In Bahrain, Nass Contracting and Mohamed Salahuddin Engineers & Architects (MSCEB) have been contracted for the initial phase of the Bahrain Marina Development project. The phase 1 construction is estimated to cost $244 Mn.
