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National Grain Company awarded a contract to HAIF Trading & Construction Company for the construction of a grain terminal in Yanbu Commercial Port with a storage capacity of 156,000 tons in the first phase, consisting of 12 silos with a total capacity of 96,000 tons and a flat warehouse with a capacity of 60,000 tons.
The energy ministers of Kuwait and Saudi Arabia last week finalized a development plan on the joint Dorra offshore gas field, a project with a potential output capacity of up to 84,000 barrels of gas condensate per day, in addition to one billion cubic feet of natural gas per day.
Saudi real estate company Dar Al Arkan signed an agreement with Oman Tourism Development Company (Omran Group) to develop a new mixed-use real estate project named Aida with a total investment of US$1.6Bn in the Yiti area of Muscat. The project comprising 3500 residential units, two 450-room hotel among other elements will be developed in three stages, each measuring 3.5 million sq m.
In another development in Oman, Hutchison Ports Sohar held a ground breaking ceremony, marking the start of construction on its new solar-powered integrated inspection facility project. The new $30 million project will be a part of the terminal development plans to enhance the inspection services for inbound and outbound containers.
DAMAC Properties announced the launch of its latest project in Dubai – Safa One de GRISOGONO – ‘The Nature of Luxury’. The project will feature two towers featuring luxury and super-luxury floors.
Danube Properties launched Pearlz, a residential project offering 1,000 residential units and a number of retail and recreational facilities with a development value of over US$80 million in Dubai’s Al Furjan area.