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.
SSH has been appointed the construction supervision consultant for Sayyid Tarik bin Taimur Cultural Complex, a nationally significant project in Oman. Spanning 400,000 sq m, the complex will be home to the National Theatre and a 5,000-sq-m energy and data centre all set within landscaped gardens.
Big 5 Construct Saudi, which kicked off at Riyadh Front Exhibition & Conference Center on Monday, will feature in-depth technical discussions, product showcases and opportunities for industry professionals to connect with suppliers, project stakeholders and experts from across the ecosystem during the next two days.
SepcoIII, a Chinese construction and engineering company, has announced the full commercial operation of the Saudi Red Sea Utility Infrastructure Project, thus marking the completion of one of the kingdom’s major integrated clean energy and utility infrastructure developments.
Hamad Mohammed Bin Saedan Real Estate Company has signed a SAR13.76 million ($3.66 million) construction contract with Raya Al Omran Contracting Company to develop residential units under its Dar Hamad 3 project in Riyadh.
Saudi Arabian Refineries Company (SARCO) has announced that its key subsidiary Raya Al Tajdeed has secured a contract from a multinational education company for the construction and finishing works of its prime projects in the capital Riyadh.
Saudi-based Baazeem Trading Company has announced that it has signed up Al Mammar & Steel Company to build a new warehouse for the company in Khamis Mushait area of the kingdom. The entire construction work will be completed within one year.
Saudi Arabia's Retal Urban Development has announced that its subsidiary Building and Construction Company has secured a key contract from associate Remal Park Fund to carry out design and construction works for the Remal Business Court project in Al Khobar.
