Strong demand for premium space continues to drive the Middle East office fit-out market despite short-term geopolitical uncertainty, says a new report by global programme management company Turner & Townsend.
Saudi Arabia's sovereign wealth fund PIF has reached an agreement with Talaat Moustafa Group Saudi that will see the duo explore opportunities, boost co-operation and collaborate in mixed-use real estate projects with the premium developments owned by PIF across the kingdom.
The International Renewable Energy Agency (Irena) has signed an agreement with Etihad Credit Insurance (ECI) to facilitate access to financing for renewable energy projects worldwide. Under this, ECI is bringing a suite of innovative credit insurance and risk mitigation solutions for ETAF.
Oman’s Nama Power and Water Procurement Company (PWP) has announced that it is seeking bids from qualified companies for providing project management and supervisory consultancy services for the 300MW Marsa Solar Independent Power Project (IPP) in the sultanate.
Roads and Transport Authority (RTA) has announced that 90% of the work has been completed on a 1,500-m bridge to Dubai Harbour featuring two lanes in each direction. More than 45,000 cu m of concrete and 8,273 tonnes of steel have been used in the project.
Türkiye plans to modernise the Hejaz Railway and extend it to Oman to set up an alternative trade route to the Strait of Hormuz, said the country's transport minister. The design phase is already complete, he stated adding that the initial stage of the project involves connecting Türkiye to Aleppo, utilising the Syria-Jordan network.
Saudi Energy (formerly Saudi Electricity Company) said it has commissioned the world’s largest grid-side grid-forming Battery Energy Storage System (BESS) project with a total installed capacity of 2.5GW, utilising BYD’s advanced energy storage technology across five strategic locations in Saudi Arabia.
The first phase of the UAE-US AI Campus in Abu Dhabi is expected to become operational before the end of this year, marking a significant milestone in the UAE's drive to establish itself as a global hub for artificial intelligence infrastructure and advanced computing.
Dubai’s residential property sector continued to soften in May, with sales activity easing across both the off-plan and ready sectors, shows news data from Cavendish Maxwell.
Global steel excess capacity continues to grow, driven by increasing subsidies in some major non-OECD steel-producing economies, while efforts to restore fair competition are increasingly undermined by circumvention of trade measures aimed at levelling the playing field, according to a new OECD report.
