With the global sports market set to hit $600 billion by 2030, the Middle East is driving a transformation fueled by investments and tech-enabled innovation. Saudi Arabia, in particular, is emerging as a major benchmark with mega events, said a report.
Growth in Saudi Arabia’s construction activity shows no signs of slowing, with the output value for the transport, power, oil & gas, industrial, water and building sectors reaching $148 billion in H1 2024, up 4.6% over the previous year, said a report.
Leading Sharjah developer Arada has announced the sale of The Observatory, the showpiece penthouse at its recently launched AED5 billion ($1.4 billion) wellness-focused branded residences project - Akala - at Dubai International Financial Centre (DIFC).
Hong Kong-based architecture group LWK + Partners has unveiled Saudi Arabia's pioneering national technology and cybersecurity district - Pulse Wadi - being set up on a 600,000 sq m area in Riyadh at an investment of SAR12.1 billion ($3.2 billion).
Binghatti Holding, one of the UAE’s leading real estate developers, said it has become a founding partner of the newly launched Dubai PropTech Hub, a groundbreaking initiative by DIFC Innovation Hub and Dubai Land Department (DLD).
The King Abdullah Financial District has been awarded a Guinness record for the world’s largest pedestrian skyway network. Spanning 15.4km, the KAFD structure links the district’s 95 buildings through 42 interconnected climate-controlled skywalks.
The contracting sector in Madinah recorded solid growth in 2024 with its activity up 31% over the previous year, thanks to a combination of factors including the launch of mega-projects in the region, big expansion and maintenance work at main mosque.
UAE-based Unique Properties has sealed a landmark joint venture with key proptech innovator AI Realtor that will see the group make major investments in the next two years to fuel the development of next-generation technologies in the real estate space.
Abu Dhabi Airports has joined hands with Chinese group Jingdong Property to develop key logistics facilities within Abu Dhabi Airports Free Zone. The strategic partnership will see the construction of two modern warehouses spanning a GFA of 70,000 sqm.
Qatar’s construction sector is advancing with purpose, balancing economic diversification, technological innovation, and sustainable growth while navigating regional competition and rising delivery costs, according to an industry expert.
