Latest GCC construction news
Monthly news updates
In the news this week
In Saudi Arabia, Aldenham Education Group is to build a new K-12 school campus in King Abdullah Financial District. A Letter of Intent was signed between AEG and King Abdullah Financial District Development and Management Company and it is anticipated that Aldenham Riyadh will be completed to accept students for the 2026 academic year.
South Korea’s Heerim Architects & Planners announced that it had secured the architectural design contract for Hyundai Motor Co.’s new automotive assembly plant in Saudi Arabia. The project, a joint venture with Saudi’s Public Investment Fund, is set to be located in the King Abdullah Economic City and will produce 50,000 vehicles annually.
Saudi Arabia signed over $533 million worth of agreements with African countries during the Saudi-Arab-African Economic Conference held in Riyadh in a significant boost to the Kingdom’s ties with the continent. The deals covered energy, roads, and health and will be financed through the Saudi Fund for Development.
Masdar, EDF Renewables, and Nesma Company have signed a Power Purchase Agreement with the Saudi Power Procurement Company to develop the 1,100 MW Al Henakiyah solar power plant in Saudi Arabia. The estimated US$1 Bn project, once operational, will power more than 190,000 homes per year and displace more than 1.8 million tonnes of carbon dioxide annually.
In UAE, Dutco and Ellington Properties announced the launch of their new waterfront project, One River Point, in Dubai’s Business Bay. Set for completion in the second quarter of 2027, the development will house a collection of 295 studios, one, two, and three-bedroom apartments, as well as 3, and 4-bedroom penthouses and exclusive four-bedroom duplexes equipped with private pools.
In Oman, the Ministry of Energy and Minerals signed a Memorandum of Cooperation to develop Carbon Capture, Utilisation and Storage and blue hydrogen. The MoC was signed with Petroleum Development Oman, Oman Shell, OQGN and Oxy.
Also in Oman, Asyad Group issued a tender for the construction of infrastructure for the upcoming Free Zone (Phase 1) project at Muscat International Airport. The scope of work in Phase 1 will include construction of a dual and single carriageways, access points and other ancillary services.
Bahrain’s Works Ministry has issued a construction tender for the fourth package of the North Muharraq Highway Project. The project scope includes the development of the Busaiteen Link, Signature Bridge and related approach ramps, and loop road bridge connecting the new Busaiteen Link to Phase One of the existing North Manama Causeway. The deadline for submitting the bids is on February 4, 2024.