Arabtec Construction has been awarded a contract worth AED628m ($171m) by DAMAC Properties to build 1,296 villas at DAMAC’s Akoya Oxygen master development in Dubai, UAE.
Dubai-based Belhasa Engineering & Contracting Company has bagged a construction contract worth AED600m ($163.3m) from property developer Deyaar Development for its Afnan and Dania districts at Midtown project in Dubai.
HLG Contracting has won a contract to build five 16-storey residential towers as part of the preparations for Expo 2020 Dubai.
Dubai Properties has commenced work on the new Marasi Business Bay marina, which forms part of the AED1bn ($272.2bn) Marasi Business Bay project.
Dubai Investments, a diversified investments conglomerate, has commenced infrastructure work on The Palisades project in Dubai, UAE.
Saudi Aramco has formed a joint venture (JV) with National Shipping Company of Saudi Arabia (Bahri), London-listed Lamprell, and South Korea's Hyundai Heavy Industries build a maritime yard in Saudi Arabia.
Sacyr Construction, in association with Combined Group Company, has completed the development of a 152-hectare semi-urban zone in Bani Hajer, Qatar.
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.
SEIDCO General Contracting has been selected as the main contractor by Dubai Properties for its Bellevue Towers residential project in Dubai [pictured].
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.
UAE-based Damac Properties has unveiled plans to develop Golfotel, the only premium five-tower hotel property surrounded by a golf course in Dubai.Golfotel will house more than 2,000 modern rooms with golf views of the Trump World Golf Club Dubai, which is set within the 55M sq ft community AKOYA Oxygen.Amenities at the hotel will include a lounge and international restaurants, a gymnasium, and an outdoor swimming pool, as well as shuttle services to the tourist attractions all over Dubai and complimentary airport transfer.Damac Properties senior vice president, Niall McLoughlin, said: “Investors will be pleased with the opportunity to own a hotel room on an international golf course that reaps higher returns than any other investment classes. “Owning a hospitality unit provides an attractive return on investment due to the burgeoning tourism industry and potential revenues that can be generated. “What we are offering is even more lucrative owing to the unique setting in a golf community — such properties usually command a premium because of their location.”
Salini Impregilo has bagged a $300M contract from Al Khozama Management Company in Saudi Arabia.
Saudi Arabia has announced plans for a 334 sq km “entertainment city” south of Riyadh [pictured].The project will feature sports, cultural and recreational facilities — including a safari and a Six Flags theme park. The new city will be funded by the kingdom’s Public Investment Fund, who will be the main investor, and other local and international investors. Deputy crown prince Mohammed bin Salman Al Saud said in a statement, carried out by state news agency SPA, that the project will become “a prominent cultural landmark and an important centre for meeting the future generation's recreational, cultural and social needs in the kingdom”.Construction work is expected to commence in 2018, with the first phase of the project to open in 2022.
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.
Emaar Properties revealed plans to build a residential project in Dubai, UAE.
Salini Impregilo has signed a $435M contract with Meydan Group LLC to build the Meydan One Mall in Dubai [pictured], UAE.
UAE-based conglomerate Al-Futtaim has broken ground on a 78,500 sq m mall project in Jebel Ali, Dubai.
Dubai-based firm Al Futtaim Carillion has been chosen as the main contractor for the development of the three Theme Districts at the Expo 2020 Dubai site.