Saudi Energy (formerly the Saudi Electricity Company) has announced the signing of an agreement to deliver electricity supplies to the Expo 2030 Riyadh site, thus marking a key step in the project's continued progress as it moves into the development phase toward hosting the gala World Expo event.
Bahrain's Eskan Bank has invited bids from leading contractors for Madinat Salman Community Development Phase II project. The projects cover a central market, a supermarket and a sports facility - featuring two football fields and two drive-through buildings - with a combined BUA of 5,231 sq m.
Dubai's exclusive public parking operator Parkin has announced a 14% jump in its total revenue for the second quarter which rose to AED364.1 million ($99 million), while its net profit for the three-month period was up 12% supported by growth in seasonal cards, developer parking and enforcement.
Azizi Developments, a leading private developer in the UAE, has intensified construction activities across its portfolio, with work at its flagship Azizi Venice development in Dubai South now progressing around the clock, 24 hours a day, the developer said.
Portville Real Estate said it has started handing over residential units at its key Ville 11 project in Masdar City after receiving a building completion certificate from the Abu Dhabi authorities. The premium development features 111 residential units, including apartments, duplexes and triplexes.
Property tech platform Invespy has opened a permanent destination in Dubai linking developers directly with UAE's real estate brokers. A neutral workspace for brokers, The Invespy Broker Hub offers them access to property project opportunities, sales training and commission-related services.
Rowad Modern Engineering has been awarded an execution contract within Al Haer Sewage Treatment Plant project in Riyadh, which is currently progressing according to a coordinated delivery plan.
American Concrete Institute (ACI) said its centre of excellence, NEU, has launched its second low-carbon certificate programme, 'Fundamentals, Materials, and Innovations'. It is a complement to NEU’s first certificate, 'Low-Carbon Concrete: Qualification, Design, and Compliance'.
UAE-based engineering and construction group ALEC Holdings has recorded a 67.6% jump in its H1 revenue which rose to AED8.99 billion ($2.45 billion), helped by higher activity across its major projects, while profitability was hit by disruptions to energy services amid regional geopolitical tensions.
Dubai-based Atara Development has recorded AED110 million ($30 million) in villa sales during the first half through the successful sale of its Kaia and Haia residences on Pearl Jumeirah, thus reflecting growing demand from ultra-high-net-worth buyers for architecturally-curated waterfront homes.
