Latest GCC construction news


Videos released


Monthly news updates


Minutes reported

NEOM awards a US$3bn contract for Port of NEOM

Staff Writer | May 22 2023

Ventures Onsite Construction News Update

In the news this week

Mitsubishi Power partners with Kuwait Ministry

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd., announced the company had been awarded a long-term contract by the Kuwait Ministry of Electricity & Water & Renewable Energy to optimize the performance of the Sabiya power and water distillation station and boost its efficiency, in line with Kuwait Vision 2035 to meet the country’s growing power needs and goals for a decarbonized energy future.

Sinoma International Engineering signed US$330mn

Saudi-based Southern Province Cement Company signed a deal with Sinoma International Engineering Company to build a new production line with a total capacity of 5,000 tonnes per day. The contract, worth $330 million is due for completion within 30 months.

NEOM awards a US$3bn contract

NEOM has awarded a $3 billion contract for the first phase of the improvement and expansion plans for the Port of NEOM, previously Duba port, located on Saudi Arabia’s Red Sea coast. BESIX, through its local subsidiary Six Construct, in partnership with Modern Building Leaders (MBL) and Boskalis, secured the contract.

NEOM new net-zero levels port

The Port of NEOM will be a critical enabler to the overall build, operations, and economic ambitions of NEOM during the development phase of Neom and a new global port serving the region. The port will function at net-zero levels by using 100 percent renewable energy for all operations.

Accor partners with Erth Real Estate Company

Global hospitality group Accor, in partnership with Erth Real Estate Company, has announced it will open three new hotels in Riyadh, as part of a new master-planned development project.

The forthcoming luxury hospitality community will include a 230-key Raffles hotel, a 250-key Sofitel serviced residence, and a 60-villa MGallery resort, all set to open by 2027.

Ezdihar Real Estate Development new project “EzdiPark”

Ezdihar Real Estate Development revealed its latest project, “EzdiPark”, a Riyadh-based Salmani-inspired development.

The project will be built on an area of 250,000 to provide an integrated and distinctive environment for business communities and entrepreneurial projects.

DAMAC partners with Delta Al Emarate Building Contracting

DAMAC Properties awarded the contract for the main construction works of Nice N2 and Nice N3 to Delta Al Emarate Building Contracting (L.L.C).
The scope of work for Nice N2 covers close to 434 units comprising townhouses and villas and will feature waterways and fitness arenas. Nice N3 will cover close to 60 villas in the cluster, with similar amenities.

KAD Engineering & Construction won a contract for DAMAC Lagoons

DAMAC Properties also awarded the contract for the backbone infrastructure works at DAMAC Lagoons to KAD Engineering & Construction LLC. The backbone infrastructure works comprise the construction, completion, testing, commissioning, and maintenance of the Roads & Infrastructure Works of DAMAC Lagoons, which will service an area of approximately 18.5 hectares.

Bugatti partners with Binghatti for Bugatti Residences

Bugatti, the renowned French luxury car brand, has partnered with Binghatti, a prominent real estate developer in the UAE, to establish the world’s first Bugatti Residences in Dubai.

The project will focus on delivering the exclusive Bugatti lifestyle.

Bugatti Residences will embody the tranquil ambiance of the French Riviera, set right in the heart of Dubai. The residences aim to create a genuine atmosphere of excellence and style inspired by Bugatti’s design DNA. Further details will be revealed at the launch of the Bugatti Residences by Binghatti during an event set at the Coca-Cola Arena in Dubai on May 24, 2023.

QatarEnergy awards a contract to Technip Energies

QatarEnergy has awarded a contract worth around $10 billion to a joint venture of France’s Technip Energies and Consolidated Contractors Company (CCC) for a landmark natural gas field.

The value of the engineering, procurement, and construction contract for the North Field South (NFS) project is around $10 billion; the scope covers the construction of two mega liquefied natural gas trains with a combined capacity of 16 million tonnes per year.

Share this story

Related Posts