Construction activity in Saudi Arabia remains sluggish, with only a marginal pick-up expected in 2018 following two years of contraction. The recovery will gain momentum in the following years, assuming that oil prices edge up and that political risks in the region do not greatly disrupt investment flows.
Dubai-based Omniyat has signed an AED500m ($136m) agreement with Ajman Bank for the construction of a mixed-use project at Dubai Water Canal in Business Bay.
Work on the UAE pavilion for Expo 2020 began with a ground-breaking ceremony, marking a significant milestone in the UAE’s history to host one of the most-recognised exhibitions.
Siemens has signed contracts with state-owned General Electricity Company of Libya (GECOL) to expand power generation capacity by 1.3GW in the country.
Chicago Bridge & Iron (CB&I) has been awarded an engineering, procurement and construction (EPC) contract worth more than $95m by Saudi Aramco Shell Refinery (SASREF) for the modernisation and expansion of the refinery in Al-Jubail city, Saudi Arabia.
The Abu Dhabi Department of Transport (DoT) has begun work on a new project to connect Sheikh Zayed bin Sultan Road with Umm Lafina and Al Reem Islands.
Bahrain Petroleum Company (Bapco) has awarded a $4.2bn contract to Tecnicas Reunidas and its joint venture partners Technip and Samsung for the Bapco Modernization Program (BMP).
Italian construction firm Itinera has secured a $620m contract from Al Farwaniya Property Developments for the construction of Reem Mall, a new retail, leisure, dining and entertainment destination, in Abu Dhabi.
Saudi Railway Company (SAR) has opened a fourth station on the Northern Railway network at Hail city.
Azizi Developments, a real estate developer based in Dubai, has begun construction of Azizi Victoria in the Mohammed Bin Rashid Al Maktoum City – District Seven.
Al Farwaniya Property Developments, the consortium behind Abu Dhabi’s Reem Mall, announced that financing for the $1.2bn project is now complete.
Target Engineering Construction Company, a wholly-owned subsidiary of Arabtec Holding, has bagged a contract worth AED950m ($258.6m) from Emaar Properties for Phase 2 of Forte, a residential development in Downtown Dubai.
Abu Dhabi-based National Petroleum Constructions Company (NPCC) has bagged a $326m engineering, procurement and construction (EPC) contract from Saudi Aramco for its offshore platforms and two pipelines at its Al Safaniya oilfields.
The first phase of Parallel Roads Improvement project in the Godolphin vicinity, which includes two phases costing AED1bn ($272m), has been opened.
China-based Cosco Shipping Ports and Abu Dhabi Ports have broken ground for the construction of a new container terminal at Khalifa Port in Abu Dhabi, UAE.
GE has completed construction work on the 1.5GW Badr substation in Cairo, Egypt and work on connecting the facility to the national grid.
Petroleum Development Oman (PDO) and GlassPoint Solar have completed work on the first block of the 1GW Miraah solar plant in Oman.
Majid Al Futtaim, a mall operator, has broken ground on a new AED1.4bn ($381m) lifestyle destination in Abu Dhabi, UAE.
A consortium of IFC and other lenders has granted $653m in debt package for 13 solar projects at the Benban Solar Park near the city of Aswan in Egypt.
Norwegian firm Scatec Solar (SSO) and partners have reached financial close on six solar PV power plants in Egypt.