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In the news this week
CB&I, a wholly owned unrestricted subsidiary of McDermott, was awarded a significant contract by Marsa Liquefied Natural Gas LLC, a joint venture between TotalEnergies and OQ for the engineering, procurement, construction of a full containment concrete liquefied natural gas (LNG) storage tank, located in Oman’s Port of Sohar. CB&I’s scope will include turnkey EPC services for a 165,000m3 full containment concrete LNG storage tank and associated piping to grade.
In Saudi Arabia, NEOM announced Jaumur, the largest cosmopolitan luxury community thoughtfully master planned around an inspiring marina for more than 6,000 residents. It will feature 500 marina apartments and nearly 700 luxury villas, boasting waterfront access and private mooring. Two distinctive destination hotels offering 350 luxurious rooms and suites along with sporting activities are also featured within Jaumur.
Methanol Chemicals Company (Chemanol) signed a plot allocation agreement with Jubail and Yanbu Industrial Cities Services Company (JABEEN) to set up a chemicals plant with an investment of over US$112 Mn. The new facility will produce methyl diethanolamine, choline chloride dimethyl disulfide and N-methyl pyrrolidone on the land plot in PlasChem Park Jubail (2).
In UAE, Hilton has partnered with Al Hamra for the launch of Waldorf Astoria Residences Ras Al Khaimah. Scheduled to open in 2026, the branded residences will feature 43 exclusive luxury homes.
Axiom Prime Real Estate Development announced the launch of Milestone Residences, a luxury development in Jumeirah Village Triangle. The project features 51 residences across one and two bedroom units, and two retail outlets.
Ohana Development announced its Elie Saab Waterfront project, a luxury residential tower in Abu Dhabi’s Al Reem Island. The 39-floor tower will be the first branded residence on the Island and upon completion in the first quarter of 2027, it will feature 174 luxurious apartments and 300 parking spaces.
In Egypt, Mazaya Developments announced its fourth venture in the MU23 zone of the New Administrative Capital (NAC) with an investment of US$104 Mn. The project will comprise ground plus nine floors and three subterranean levels and will be designed by Archrete for architectural
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