Aldar Properties has won a contract to build media and entertainment free zone twofour54’s new home on the Yas Island.
Shapoorji Pallonji Mideast, part of the Shapoorji Pallonji Group, has secured a contract worth AED1.5bn ($408m) from the UAE-based property developer Nakheel to build The Palm Gateway triple tower and beach complex on Dubai’s Palm Jumeirah.
Majid Al Futtaim has broken ground on a new AED2.6bn ($707M) shopping mall in Sharjah, UAE.
Abu Dhabi-based Aldar Properties has selected Trojan General Contracting as the main contractor for the first three precincts of Yas Acres, a flagship development on Yas Island.
Salini Impregilo has bagged a $300M contract from Al Khozama Management Company in Saudi Arabia.
UAE-based real estate development firm Aldar Properties PJSC has awarded a contract worth AED500M ($136M) to Ghantoot General Construction for the construction of its luxury residential project in Yas Island, UAE.
Omran Properties is set to launch three real estate projects worth a combined value of AED2.47bn ($672.5M) in Sharjah [pictured], UAE.
UAE-based conglomerate Al-Futtaim has broken ground on a 78,500 sq m mall project in Jebel Ali, Dubai.
Dubai Holding has signed a memorandum of understanding (MoU) with Dubai Municipality to develop Dubai’s largest public park.
A joint venture of Arabian Construction Company (ACC) and UK-based construction firm Kier has secured a $187M order to construct a residential project in Dubai.
Dubai South has signed a memorandum of understanding (MoU) with Deyaar Development to develop a mixed-use project in Dubai South’s Residential District.
Youssef Ouchagour, construction industry analyst at Timetric’s Construction Intelligence Center, looks at the current state of the healthcare construction market and presents five of the largest healthcare projects currently under construction in the Gulf Cooperation Council (GCC) region.Building adequate and effective healthcare facilities has become an urgent priority in the GCC region as the pressure continues to grow on the existing healthcare infrastructure due to a number of regional factors, including rapid population growth, higher life expectancy, a higher per capita income and a rise in lifestyle related diseases. GCC healthcare construction market outlookAccording to Timetric’s Construction Intelligence Center (CIC) project database, there are 119 active healthcare projects in the GCC countries with a combined value of $46bn. As expected, the majority of these projects are located in Saudi Arabia, the country with the largest population in the GCC, followed in order by the United Arab Emirates, Kuwait, Oman, Qatar and Bahrain. 40% of active projects in the GCC region, with a combined value of $21bn) are under execution, with the remaining 60% of projects at various pre-execution stages, with a combined value of $25bn. This shows that there is a wealth of future opportunities within the healthcare sector for the GCC construction industry.The expected growth of the Healthcare Sector in the GCC region over the next few years will be mainly driven by the GCC governments’ efforts to strengthen and modernise their healthcare system — 68% of the active Healthcare projects in GCC countries are publicly funded projects; these have a combined value of $39bn. Privately funded projects represent 25% of the total number of active healthcare projects in the region and have a combined value of $4.5bn. The total investment in healthcare projects through public/private partnership is around $2.2bn. The number of projects funded by the private sector is set to grow over the next few years due to the high demand for high quality healthcare facilities and services and the rise of the medical tourism trend in the region. The same is expected for projects funded through public/private partnerships as the GCC governments are looking for alternative ways to fund healthcare projects due to budget restraints.
The vice president and prime minister of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid Al Maktoum, who is also Emir of Dubai, has unveiled plans for a new luxury waterfront project in Dubai.
Qatar’s United Development Company (UDC) has secured QR716M ($197M) worth of contracts to build three new projects at The Pearl-Qatar development.
Dubai Electricity and Water Authority (DEWA) has commenced construction work on its new headquarters (HQ) in the Cultural Village in Al Jadaf, Dubai.
Lulu Group International has announced a AED2bn ($544.5M) plan to develop three malls in Umm Al Quwain, Sharjah and Dubai.
Laing O’Rourke has been chosen as the preferred bidder to construct two hotels and a new shopping mall in Dubai.
Cityland Group has unveiled plans for an AED1.1bn ($299.4M) nature-inspired mall in Dubai.
Habtoor Leighton Group (HLG) has secured an AED500M ($136.1M) contract for the Gate Avenue project at Dubai International Financial Centre (DIFC) in Dubai.
Developer Miral has announced a new $100M leisure project in Yas Island, Abu Dhabi.