Global utility major Acwa Power has acquired the entire 32% stake of Saudi PIF company Badeel in Shuaibah Water and Electricity Company (developer of Shuaibah IWPP). With this move, Acwa Power has now become the majority stake holder in the Shuaibah company with 62% share.
Leading Kuwaiti low-cost carrier Jazeera Airways has announced that it has begun operating flights to Istanbul via Qaisumah Airport (AQI) at Hafar Al Batin in the Kingdom of Saudi Arabia. This comes following the recent launch of its similar flights to Egypt and Jordan.
Asas Makeen for Real Estate Development Company has announced that it has secured a major contract from Awa'id Al Hada for the development of a villa community project in Riyadh. The scope of work includes management and construction of key residential units over a 10,468 sq m area.
Saudi-based Retal Urban Development Company has announced plans to raise its capital to SAR555 million ($151 million) from SAR500 million ($136 million) in a bid to facilitate its planned acquisition of a stake in Ajdan Real Estate Development Company from AlFozan Holding.
Indian carriers Air India and Air India Express are jointly operating 48 scheduled and non-scheduled flights, to and from the Middle East region on March 16. The duo will continue their scheduled operations to Jeddah and Omani capital Muscat including a total of 10 flights between India and the Saudi port city.
Diriyah Company, the developer of Saudi Arabia's premier historical, cultural, and lifestyle destination, has announced the launch of a 1.9-km-long main spine within its mega development in the kingdom's ancient city. The GrandAvenue will boast iconic landmarks, hotels, offices, retail spaces and residential units.
Retal Urban Development Company said its consortium has secured a SAR3.2 billion ($852 million) contract to develop a mixed-use project within King Salman Park in Riyadh. It boasts an integrated urban district featuring over 600 residential units and 140 hotel properties in addition to 50,000 sq m of office space.
The Pentagon said Tuesday about 140 US service members have been wounded in the conflict with Iran giving the first insight into the broader toll of injuries sustained by US troops after a barrage of retaliatory rocket and drone strikes from Iran that also killed seven soldiers in Kuwait and Saudi Arabia.
Saudi Arabia's Matarat Holding has announced that 89 leading players in airport construction sector including 55 Saudi companies are in the race to build the Prince Naif bin Abdulaziz International Airport in Qassim. The list includes 19 developers, 33 EPC contractors as well as 13 operators.
Safanad, a principal-led investment company with a major presence in US and Saudi Arabia, said it has completed the sale of HC-One, the largest care home provider in UK featuring nearly 300 homes, to a leading healthcare real estate investment trust (REIT) for over $1.6 billion.
