Ventures Onsite Construction News Update In the news this week: Companies from MENA signed US$ 2bn agreements Companies from the UAE, Egypt, Jordan and Bahrain signed industrial agreements with an investment value exceeding $ 2 billion at the third Higher Committee meeting of the Industrial Partnership for Sustainable Economic Development. The meeting included signing 12… Continue reading Luberef awards a US$148mn EPC contract to PETROJET Co. Luberef awards a US$148mn EPC contract to PETROJET Co.
Ventures Onsite Construction News Update In the news this week Sobha Realty launched the Verde In the UAE, Sobha Realty launched a new project, the Verde by Sobha, a 58-storey structure in Dubai’s Jumeirah Lake Towers. Project completion is scheduled for Q4, 2026. EWEC awarded Mirfa 2 to ENGIE and TAQA The Emirates Water and… Continue reading SIAC Construction won a US$16.4mn contract
Ventures Onsite Construction News Update In the news this week Sany Alameriah partners with MGB Berhad Saudi Arabia’s Sany Alameriah For Construction Company entered into a contract agreement with MGB Berhad, a leading Malaysian construction and property development company, to design and build 10,000 residential units in Jeddah. The US$665 million project is being developed… Continue reading DAMAC Properties awards US$241mn Cavalli Tower
Ventures Onsite Construction News Update In the news this week Nestle invests US$1.86bn in KSA Nestle announced it will invest US$1.86bn in Saudi Arabia in the coming 10 years, starting with a plant to make infant products and ready-to-drink coffee. The first plant is set to open in 2025 with an initial investment of US$100… Continue reading Nestle invests US$1.86bn to establish new manufacturing site in KSA
Ventures Onsite Construction News Update In the news this week KEZAD and Renov8 Polymer sets up advanced recycling facility In UAE, Khalifa Economic Zones Abu Dhabi (KEZAD) Group has signed an agreement with Renov8 Polymer Industries to set up an advanced recycling facility. Renov8 Polymer Industries will invest US$150m, to develop a 30,000 square metre… Continue reading HEISCO and Kuwait Port Authority signed US$160.2 mn contract
Ventures Onsite Construction News Update In the news this week CSCEC middle east is awarded $60mn by JIIC In UAE, Jubail Island Investment Company (JIIC) has awarded a 22-month contract worth $60mn to China State Construction Engineering Corporation (CSCEC) for the construction of 150 townhouses within the Souk Al Jubail community on Jubail Island in… Continue reading Archirodon was awarded $173 million contract by ADNOC
The Middle East and Africa (MEA) region’s construction industry will grow by 6.9% annually in 2016-20, according to Timetric’s Construction Intelligence Center (CIC). The predicted rate of growth, which is higher than the 4.9% average achieved during the period 2011-15, is expected to be driven in large part by regional investment in major infrastructure initiatives,… Continue reading The Middle East and Africa (MEA) region’s construction industry will grow by 6.9% annually in 2016-20
Oman on Thursday approved its budget for 2015 with a deficit of 8 per cent of gross domestic product (GDP). The Omani Ministry of Finance said in a statement that the general budget for the fiscal year 2015 is estimated as general expenditure at 14.1 billion Omani riyals (Dh 134.5 billion), an increase of 4.5… Continue reading Oman announces 2015 budget with 8 % deficit, slant on infrastructure, privatization
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