The US-Iran pact has begun to ease concerns around oil supply and shipping routes through the Hormuz. However, a return to normal will take time, and uncertainty remains over where oil will settle and how markets will respond. For the construction industry, the implications go far beyond fuel costs, said an expert.
Innovo, a leading construction company across UAE's built environment, has partnered with FieldAI, a physical AI category leader, to bring general-purpose robots to live construction environments across the Middle East. Their first project is Ghaf Woods, a $462 million development in Dubai.
Marriott Executive Apartments has announced the opening of its newest mixed-use project in Jumeirah Lakes Towers, Dubai. Developed by Orra Hotel Apartments, the key property features 150 apartments with a mix of studio, one- and two-bedroom units along with premium lifestyle amenities.
Sharakah, Oman’s leading SME development company, has announced a strategic collaboration with Gulf Technical Support (GTS), a specialist in the supply, installation and maintenance of heating, ventilation, and air conditioning (HVAC) systems across the sultanate.
Saudi Arabia's Real Estate General Authority (REGA) has announced the opening of applications for foreign real estate ownership through its Saudi Properties portal. This is the official portal for the Foreign Real Estate Ownership Law, following its coming into force from January.
Ladun Investment Company said its joint venture with Al Ayuni Investment has been awarded SAR2.4 billion ($639 million) contracts for the infrastructure development works on key Al Qirawan, Al Narjis and Namar plots under the Real Estate Balance Program – Phase One in Riyadh.
Royal Commission for Riyadh City (RCRC) has announced that it has started work on the Imam Abdullah bin Saud Road at its intersection with Khalid bin Al Waleed Road in the Saudi capital. Extending 9km, the project is part of RCRC’s ongoing efforts to upgrade key traffic corridors.
Emrill, a leading UAE-based total facilities management provider, has secured a four-year contract to deliver mechanical, electrical and plumbing, housekeeping, lifeguard and specialist services at Nikki Beach Resort & Spa Dubai, a five-star beachfront destination located on Pearl Jumeirah.
Arcapita, the global alternative investment firm, has signed a partnership deal with Hines, one of the world’s largest real assets investment managers, to jointly explore the creation of an institutional-grade platform focused on industrial and logistics real estate assets across the Gulf region.
Lenovo has signed an agreement with Saudi National Housing Company Innovation for potential collaboration backing the kingdom’s evolving residential and digital infrastructure landscape. The deal sets out a foundation to boost co-operation across advanced technologies such as AI and data science.
