Saudi-based Qiddiya Investment Company (QIC) has awarded a SAR4.3 billion ($1.1 billion) construction contract to Taj Dhabi, the local unit of UAE-based Trojan Construction, for the development of a purpose-built racecourse sprawling over 1.3 million sq m on the outskirts of Riyadh, said a report.
Saudi Arabia's Red Sea International Company said it has completed regulatory approvals and taken possession of a 63,088-sq-m prime plot of land in Madinah, thus marking the start of its contractual obligations under a 50-year lease agreement with the municipality.
Saudi-based Alandalus Property Company said one of its key subsidiaries, Alandalus litashid Almabany Aldirasia Company, has acquired a prime plot of land within the Al Naseem District in Riyadh city designated for the development of an educational complex.
Saudi-based Sumou Real Estate has announced that it had signed a project development mangement contract with Arch 3 Real Estate Development Company for a premium 6,394-sq-m mixed-use project in Jeddah. The key project will have a total built-up area of about 57,000 sq m.
Maritime Hub Abu Dhabi has announced that it has launched a guidebook aimed at helping international maritime companies and entrepreneurs establish and expand their operations in the emirate, highlighting the capital's competitive advantages and business opportunities in the sector.
Banan Real Estate Company has announced that it has secured a contract from Saudi-based Afaq Al Qimma Al Rabiaa Al Mutatawera Company for the development and marketing of a hotel project within Al Rahmaniya neighbourhood in capital Riyadh.
Abu Dhabi has launched a Cooling Load Manual aimed at improving energy efficiency in buildings by enhancing the accuracy of cooling system design, a move expected to reduce equipment and infrastructure costs, electricity consumption and operating expenses.
Mabani Aljazeera Holding Group, a leading Saudi construction and investment company, has announced plans to invest in Jabali Towers located at the heart of Tatu City SEZ in Kenya. A premier mixed-use project, it features a mix of studios and one- to three-bed apartments as well as premium amenities.
The Sharjah Investment and Development Authority (Shurooq) has signed an agreement with Minor Hotels under which the international hospitality operator will manage the Sharjah Collection, a portfolio of seven nature- and heritage-based retreats across the emirate.
MAIR Group, a strategic investment company focused on grocery retail and commercial real estate, is set to redevelop and expand its key retail asset, Mall of Al Ain, in Abu Dhabi, adding hotel facilities and upgrading the property's retail, dining, entertainment and public spaces.
