The GCC and North Africa have about $90 billion worth of hotel and resort projects in the pipeline, adding nearly 200,000 rooms to the region’s existing supply, with the Kingdom of Saudi Arabia accounting for around half of this (110,000 rooms), said a report released ahead of a key industry event in Dubai.
Saudi-based Almoosa Health Company has awarded a major contract worth SAR781.7 million ($207 million) to BEC Arabia for the execution of mechanical and electrical works for a key hospital project in Al Khobar, in the kingdom's Eastern Province. The entire project is likely to be completed in two years.
Saudi-based Retal Urban Development has announced that it has secured approval from Capital Market Authority for boosting its capital to SAR555 million ($146.7 million). This 11% capital hike is aimed at acquiring a strategic 47.5% stake in Ajdan Real Estate Development Company.
Saudi-based Umm Al Qura has signed an agreement with sustainable lifestyle real estate developer Numu for the construction of a SAR700 million ($185 million) serviced apartment tower within its Masar Destination in Makkah. The project will feature 460 hospitality units along with other amenities.
Saudi-based Umm Al Qura for Development and Construction Company and Alinma Development II, a special purpose vehicle of Alinma Makkah Real Estate Fund, have signed sales agreements with Arabian Dyar Company for four prime land plots located within the Masar Destination project in Makkah for SAR603.76 million ($160 milllion).
Saudi-based Southern Province Cement Company has announced that it had partially accepted and handed over a new production line at its Jazan cement plant, thus marking another step toward completion of a project to replace the plant’s existing production lines.
Egis, a leading global architectural, consulting and construction company, said it has been officially registered as a Saudi Civil Defence approved consultant by the General Directorate of Civil Defence (Salamah). This accreditation authorises the firm to provide specialist fire and life safety services for public and private sector clients.
Leading project management executives and industry experts from around the world are in Riyadh for the fifth edition of the Global Project Management Forum (GPMF 2026) where they will get to share international best practices and exchange expertise aimed at improving project delivery.
Saudi-based Asas Makeen Real Estate Development and Investment Company has signed up Itihad Al Thabat Contracting to execute and complete the construction and finishing works required for a number of residential and commercial projects being developed by the company in Riyadh.
Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth SAR771 million ($203.3 million) from Saudi energy giant Aramco for the manufacture and supply of steel pipes for key projects in the kingdom.
