Investors, businesspeople, stakeholders, and specialists attended the fourth edition of the Jeddah International Building Exhibition (JIBEX) which opened at the Jeddah Centre for Exhibitions and Events.
Saudi Real Estate Company (Al Akaria), has awarded SAR479 million ($126 million) contracts to Mounes Mohamed Alshayeb and Partners for Civil Construction (MOBCO) and Saudi Arabian Parsons to carry out the structural and project management work for the first package of its Porta Jeddah mixed-use development.
UAE-based Azizi Developments handed over seven projects by the third quarter and now aims to deliver an additional 10 projects between now and December. Azizi currently has more than 150,000 units under construction at various stages, thus reflecting the scale and pace of its ongoing development pipeline.
Abdulla bin Touq Al Marri, Minister of Economy and Tourism, has led an official delegation to Innovo Group, a UAE-born global company operating across various domains of the built environment.
Mediclinic Middle East, one of the leading private healthcare providers in the UAE, has announced plans to invest AED420 million ($114 million) in the expansion of its Parkview Hospital in Dubai. The expansion work will begin shortly and is due for completion next year.
Samsung E&A has secured a major engineering, procurement and construction services contract worth $3.46 billion from Sabic Agri-Nutrients Company (formerly Saudi Arabian Fertilizer Company - Safco) for its integrated industrial complex. The project commissioning is targeted for Q3 2030.
Turkish construction company Kalyon Inşaat has announced that its consortium has begun work on the Abu Dhabi section of the UAE's first high-speed railway network, a part of Etihad Rail's $13 billion plan to develop a passenger railway network spanning 900km across the emirates.
Red Sea International, a specialist in modular construction and prefabricated buildings, has sought regulatory approval to raise SAR280 million ($73.7 million) through a rights issue of 28 million ordinary shares, which would boost its capital to SAR762.7 million ($201 million).
Saudi construction sector expanded for a third consecutive month in July, driven by stronger infrastructure and residential activity as new orders rose at the fastest pace in five months, according to the latest Saudi Construction Index compiled by leading financial services provider Alrajhi Capital.
Dar Global, a London-listed luxury real estate developer, has awarded the construction contract to Gulf Asia Contracting for the podium of Trump International Hotel & Tower, Dubai, following the successful completion of all enabling works.
