Tecnimont, a leading global contractor for highly complex plants, has joined hands with ADNOC Gas for the groundbreaking of its $4.3 billion Rich Gas Development Phase 3 Project in Abu Dhabi. Once completed in 2030, the plant will reach an output capacity of 8 million tonnes per year.
The GCC and North Africa have about $90 billion worth of hotel and resort projects in the pipeline, adding nearly 200,000 rooms to the region’s existing supply, with the Kingdom of Saudi Arabia accounting for around half of this (110,000 rooms), said a report released ahead of a key industry event in Dubai.
Water is emerging as a critical constraint on the world’s biggest growth ambitions, from artificial intelligence and the energy transition to food security and rapidly expanding cities, as governments and investors confront a huge financing gap in water infrastructure.
Saudi Binladin Group (SBG) has announced that it has achieved a major safety milestone clocking 20 million man-hours at the landmark mixed-use project - Jeddah Tower - which is on the way to become the world's tallest building with a planned height of over 1,000m.
BAAN Holding Group, one of Saudi Arabia's leading hospitality companies, has announced that it has broken ground on Playocity, a 2,600-sq-m family entertainment facility, being developed in partnership with Hasbro at Westfield Center in the port city of Jeddah.
X Architects has unveiled Zayed Waterfront, a conceptual 2.3 million-sq-m masterplan proposed for Mina Zayed that reimagines the historic Abu Dhabi port as a new waterfront gateway with three connected districts, thus forming a new urban sequence between downtown Abu Dhabi, Corniche and Saadiyat Island.
Amwaj Development, a leading Dubai real estate developer, has announced that work is moving at a steady pace on two of its premium residential developments in Meydan with The Cube Residences now 50% completed and Gate Eleven reaching 35% project completion.
Global automation leader Emerson has announced plans to build its new automation solutions service and operations centre in the Umm Alhoul Free Zone. The facility will expand Emerson’s local capabilities for customers in Qatar and across the Middle East and Africa.
GE Vernova has announced that it has signed a services agreement with the affiliates of the Egyptian Electricity Holding Company to provide Rotor Life Extension (RLE) solutions for five of its 9F gas turbines located at the Cairo North power plants in Egypt.
The Dubai real estate market has witnessed a clear shift during the summer months as hundreds of tenants moved home to take advantage of new leases reducing annual rents by up to 15%. The new leases exceeded renewals by 2,139 contracts in August, said a new report.
