Dubai Municipality has joined the Digital Twin Consortium n a move aimed at strengthening international knowledge exchange around the application of digital twin technologies and geospatial data across areas including urban planning, infrastructure, sustainable urban development and asset management.
The UAE’s construction sector is set to continue its upward trajectory over the coming years with the market set to hit AED614.4 billion ($167.2 billion) by 2031, mainly driven by PPP investment, urban development, infrastructure projects and demand across residential, hospitality and logistics sectors, said a report.
Saudi Arabia’s Alwasail Industrial Company has announced that it has secured a key contract from Saudi group Almabani to supply materials for the Sports Boulevard project in Riyadh. The entire contract work will be completed within a one-year period starting from the date of supply.
Dubai CommerCity, a free zone focused on digital commerce, has launched a second expansion phase worth over AED1.8 billion ($490 million) that will add more than 91,000 sq m of office, retail and logistics space across the free zone’s business, social and logistics clusters.
Eskan Bank has signed an agreement with First Bahrain Real Estate Development Company for the marketing and sale of housing units within the Hai Al Sahil project. It is among three new projects in Salman City featuring a total of 137 residential units that are being implemented by a group of real estate developers.
Saudi-based Abdullah Al Othaim Investment Company has launched a dedicated real estate development arm, Al Othaim Developments, with plans to invest over SAR16 billion ($4.27 billion) in about 10 projects comprising 8,000 residential units across several Saudi cities over the next two years.
Saudi Arabia’s Ministry of Energy has awarded Natural Gas Distribution Company a licence to construct, own and operate a natural gas distribution network in Al-Kharj Industrial City.
Oraya Developer, a key real estate company has announced its official entry into the UAE market with the first residential project on Marjan Beach, Ras Al Khaimah. With this project, the company aims to introduce a new standard for lifestyle-led coastal living in the UAE.
MOON World Resorts (MWR) has appointed Entuitive as the structural engineers and building envelope consultants, across all MOON Smart City Masterplans. Working alongside MWR's global development team, Entuitive will translate the entire masterplan into buildable and resilient structure.
Saudi utility giant Acwa Power has announced the financial close of the SAR9.69 billion ($2.5 billion) Rabigh 2 IPP Expansion Project, a 2,313MW combined-cycle power plant in the kingdom’s Western Province.
