Saudi-based Diriyah Company has announced that it has awarded two major construction contracts worth SAR2.73 billion ($720 million) to build six luxury hotels and three residential assets in Diriyah Square, thus boosting Diriyah’s position as an urban destination to live, work and visit.
Leading luxury project developer Sobha Realty has announced that one of its key subsidiaries has broken ground on Anantara Siniya Island Resort and Anantara Residences Sobha Siniya Island in the northern emirate of Umm Al Quwain, featuring 125 hotel keys and 125 Anantara-branded residences.
Saudi Entertainment Ventures (SEVEN) has completed 70% of construction work on its prime destination along the Jazan waterfront - SEVEN Jazan - logging more than seven million working hours without any lost-time injuries, in line with its commitment to health and safety standards on site.
Aluminium Bahrain (Alba), a world-leading aluminium smelter, said it has achieved a major construction milestone by clocking 40 million safe working hours without a Lost Time Injury (LTI), thus reinforcing its position as a global leader in industrial safety.
The UAE’s construction sector is set to continue its upward trajectory over the coming years with the market set to hit AED614.4 billion ($167.2 billion) by 2031, mainly driven by PPP investment, urban development, infrastructure projects and demand across residential, hospitality and logistics sectors, said a report.
The total value of projects planned or underway across Saudi Arabia reached $2.07 trillion in H1 2026, highlighting the scale of the Kingdom’s long-term development ambitions under Vision 2030, according to Knight Frank’s latest Saudi Arabia Construction Landscape Review.
Saudi utility giant Acwa Power has announced the financial close of the SAR9.69 billion ($2.5 billion) Rabigh 2 IPP Expansion Project, a 2,313MW combined-cycle power plant in the kingdom’s Western Province.
Vision Developments has announced the official groundbreaking of Sera Gardens by Vision, a key residential development comprising 246 apartments, with a diverse collection of studios, one and two-bedrooms as well as three and four-bedroom duplexes in Dubai Production City.
Emirates Stallions Group, a subsidiary of Abu Dhabi group IHC with key interests in construction, investment and real estate, has delivered solid results for the first nine months with a 36% jump in its net profit, while its revenue soared to AED1.3 billion ($354 million), supported by continued advancement across ongoing development projects.
Parsons Corp has secured a key design and construction supervision contract from Diriyah Company for Phase II of its mega project in Riyadh. The scope of work includes the delivery of a series of neighbourhood parks and over 55km of streetscape.
