Saudi Energy said it has signed a SAR11.5 billion ($3.1 billion) agreement with Saudi Power Procurement Company (SPPC) for the Rabigh 2 IPP project located in Makkah province, which on completion will boast a large-scale CCGT power plant with 2,313.5 MW generation capacity.
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Tensions have escalated again in the Strait of Hormuz as Iran said it was tightening control over it warning mariners that the energy lifeline was again closed, as shipping sources said at least two vessels came under fire while trying to transit the waterway. It said this was in response to a continued US blockade of Iranian ports.
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Iran has announced that commercial shipping through the strategically vital Strait of Hormuz will remain fully open for the duration of the current ceasefire, signalling a potential easing of tensions in one of the world’s most critical energy corridors.
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Saudi Arabia has taken a significant step forward on its long-planned Landbridge railway, awarding Spanish engineering firm Sener the lead design contract for the multi-billion-dollar project linking the Red Sea to the Arabian Gulf, according to published reports.
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Businesses and investors in Saudi Arabia and the UAE are holding firm on their medium-term strategies despite the current situation in the Middle East, supported by intraregional supply chain redesign and increased use of AI, says an HSBC study.
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KEO, a leading multidisciplinary consulting firm, and Margulies Hoelzli Architecture (MHA), a leader in data center and mission-critical design, have entered into a strategic partnership to deliver end-to-end data center solutions for developers and investors across the GCC and Europe.
ORA Developers is expanding its UAE presence through the acquisition of an additional 4.8 million sq m of land from Modon Holding in Ghantoot, increasing its UAE land bank to 9.6 million sq m.
Hassan Allam, one of the largest engineering and construction companies in the MENA region, has agreed to acquire MetiPro, the engineering, procurement, and construction arm of Metito group.
MGB, a leading construction, property development and IBS precast concrete manufacturer, has secured a key contract from leading Saudi developer Roshn for the construction of 75 villas under its Marafy Al Arous Development Project in Jeddah.
Gulf Air, Bahrain’s national carrier, is gradually resuming flights, aiming to serve over 50 destinations by June 2026. Interim operations continue from King Fahd International Airport until April 30, following Bahrain’s airspace reopening.
Saudi Public Investment Fund's (PIF) tourism, travel, and entertainment ecosystem aims to capitalise on the growing Saudi tourism industry by developing strategic assets that generate reliable returns, improving air‑connectivity and leveraging world‑class events to attract visitors.
Saudi Arabia's Public Investment Fund (PIF) Governor Yasir Al-Rumayyan said NEOM projects are presently being restructured to achieve higher economic efficiency and long‑term financial sustainability.
Saudi Arabia's Public Investment Fund (PIF) has approved its 2026-2030 strategy which focuses on transforming PIF’s portfolio of 13 strategic sectors into six integrated economic ecosystems, strengthening the linkages among them and creating a broader spectrum of partnership and investment opportunities for the private sector.
Fresh diplomatic signals from Tehran and Washington have raised cautious optimism about a potential deal to de-escalate tensions around the Strait of Hormuz and end the war.
Dubai’s Roads and Transport Authority (RTA) has announced that it has completed the development work on Hessa Street - extending from Sheikh Zayed Road to Al Khail Road - over a 4.5-km-long stretch. The project involved widening the street, along with the bridges at some of its key intersections.
Saudi Energy said it has signed a SAR11.5 billion ($3.1 billion) agreement with Saudi Power Procurement Company (SPPC) for the Rabigh 2 IPP project located in Makkah province, which on completion will boast a large-scale CCGT power plant with 2,313.5 MW generation capacity.
Louvre Abu Dhabi launched an “Architectural Experience” tour with seven stops, ending inside its dome. It highlights the museum’s design, light, and space, blending storytelling with architectural appreciation of its landmark structure.
Partners Group, one of the largest firms in the global private markets industry, has announced the appointment of Abdullah Alshamlan as its new Head of Kuwait. The appointment follows the firm’s recent announcement regarding its office opening in Kuwait, the application process for which is underway.
Businesses and investors in Saudi Arabia and the UAE are holding firm on their medium-term strategies despite the current situation in the Middle East, supported by intraregional supply chain redesign and increased use of AI, says an HSBC study.
Modon, a premier Abu Dhabi-based real estate developer and urban planner, has released the final phase of its Tara Park residential project on Al Reem Island. A freehold development, the project features six residential towers connected by a shared podium that will deliver a total of 834 apartments.
A controversial new sporting venture is challenging one of the most fundamental principles of modern athletics — the ban on performance-enhancing drugs.
Digital Dubai has launched the “AI Workforce Transformation Program (AI+),” a strategic initiative to train 50,000 Dubai Government employees.
Dubai’s retail and warehouse sectors demonstrated resilience and growth in 2025, backed by strong fundamentals including record tourism, population boom and e-commerce activity. Both sectors, however, faced tightening supply conditions that shaped market dynamics throughout the year, said a report.
Kuwait Finance House – Bahrain (KFH), a leading bank in the kingdom, has announced that it is allowing individual and corporate customers to defer domestic loan instalments and credit card payments for three months, in line with guidance from the Central Bank of Bahrain.
KEO, a leading multidisciplinary consulting firm, and Margulies Hoelzli Architecture (MHA), a leader in data center and mission-critical design, have entered into a strategic partnership to deliver end-to-end data center solutions for developers and investors across the GCC and Europe.
Abu Dhabi's Integrated Transport Centre (ITC) has announced that it has achieved a major milestone with its green bus fleet surpassing 1.3 million eco-friendly kilometres since its launch in 2024. Its green fleet comprises buses powered by hydrogen fuel cell technology and electric energy.
Art Dubai, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced the preliminary list of participants for its 2026 special edition taking place at Madinat Jumeirah from May 15 to 17 May.
Tensions have escalated again in the Strait of Hormuz as Iran said it was tightening control over it warning mariners that the energy lifeline was again closed, as shipping sources said at least two vessels came under fire while trying to transit the waterway. It said this was in response to a continued US blockade of Iranian ports.
