Abu Dhabi-based BlueFive Capital has acquired a 70% stake in Gulf Cobla, a UAE-based dredging, land reclamation company. As part of the deal, BlueFive Capital will buy the entire 49% stake held by an affiliate of Saudi Binladin Group, together with a 21% stake from Dutco Group.
Bahrain's Information & eGovernment Authority (iGA) highlighted the kingdom's digital transformation strategy and plans to expand the use of AI and data-driven government services as it seeks to boost its position as a leading regional and global model in digital transformation and smart cities.
Dubai has announced plans to develop several landmark projects at a total investment of AED18 billion ($4.9 billion), covering infrastructure, culture, trade, investment and urban development, as the emirate seeks to support long-term economic growth and improve quality of life, said a report.
Leading petrochemical company Sipchem has announced that work has been fully completed on the expansion project at the ethylene cracker plant operated by one of its key ventures, the Saudi Ethylene and Polyethylene Company (SEPC), and now its trial production has begun.
Saudi-based Al Ramz Real Estate has joined hands with Oud Capital to set up a new shariah-compliant real estate investment fund with a target size of over SAR1 billion ($267 million). It aims to develop more than 800 residential units on 70,516 sq m of company-owned land in the kingdom.
10 Design, a global architecture and masterplanning practice based in UK, has unveiled its vision for The Cape, a key residential project within the Al Barari masterplan in Dubai. Spanning 140,000 sq ft, the scheme features 286 apartments, ranging from one-bedroom units to four-bed duplexes.
Global energy technology company SLB has secured a major contract from Kuwait Oil Company (KOC) for the development of its flagship Ahmadi Innovation Valley (AIV) initiative, thus marking a key step in accelerating technology deployment and innovation across Kuwait’s upstream oil and gas sector.
Global real estate expert JLL has announced the appointment of Maroun Deeb as the new Head of Project & Development Services (PDS) for the Middle East and Africa. In his expanded role, Deeb will be overseeing strategic growth and capability integration across the MEA region.
The Saudi Power Procurement Company (Principal Buyer) has prequalified 27 leading developers including global utility majors EDF, Kepco and Marubeni as well as regional heavyweights Masdar and Acwa for its second group of Battery Energy Storage System (BESS) projects with a total capacity of 12,000 MWh.
In a huge boost for Dubai's luxury real estate market, Binghatti, a major UAE developer, has announced penthouse sales totalling AED270 million ($73.5 million) at Bugatti Residences by Binghatti in Business Bay during June 2026.
