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Fujairah National Construction (FNC) has won an AED700M ($191M) contract from Mag 5 Property Development (MAG 5 PD) joint venture for a housing community project in Dubai South. The MAG 5 Boulevard development will include 1,172 residential units, retail space, and food and beverage, leisure and entertainment amenities.The 74,000sq m project, located within Dubai South’s residential area ‘The Village’ and adjacent to the Expo 2010 site and Dubai Parks, will be surrounded by running and cycling tracks, playgrounds, and community and retail centres. Talal Moafaq Al Gaddah, MAG 5 PD’s chief executive, said: “FNC has an enviable portfolio for the delivery of premium real estate developments in the UAE. “We are confident in their ability to bring MAG 5 Boulevard to the market within two years and in doing so, create the ultimate quality affordable living in one of the city’s most sought-after locations, Dubai South.”The project is set to break ground this month.
Dubai Parks and Resorts has started construction on the first Six Flags branded theme park in Dubai.The new park will be Dubai Parks and Resorts’ fourth theme park alongside Motiongate Dubai, Legoland Dubai, and Bollywood Parks Dubai.The AED2.6bn ($707M) project will be built on a 325,000sq m area with an opening day footprint of 186,000sq m.Six Flags Dubai will feature 27 rides and attractions for all ages across six themed zones. It will also include at least three world record breaking rides apart from six roller coasters, four aerial attractions, a 350m river rapids ride and three performance spaces.Dubai Parks and Resorts’ CEO Raed Kajoor Al Nuaimi said: “We are delighted to announce that construction has commenced on the region’s first Six Flags-branded theme park.“This is the fourth theme park at our destination alongside Motiongate Dubai, Bollywood Parks Dubai and Legoland Dubai and it will help us strengthen the appeal of Dubai Parks and Resorts as a must visit destination in the region.“Six Flags is a very successful brand in other parts of the world and the introduction of this exciting theme park will further establish Dubai Parks and Resorts as the region’s largest leisure and entertainment destination.”The park is expected to open in late-2019.
Damac Properties has unveiled a collection of colourful villas in Dubai.The project, named Akoya Imagine, is located at the heart of the Akoya Oxygen — a 5M sq m master development that will showcase the greenest living spaces in Dubai.In Phase 1, the three-bedroom villas will be released with starting prices of AED1.2M ($326,713) spread across a three-year payment plan. Homes will also benefit from free service charges for five years.DAMAC Properties’ managing director Ziad El Chaar said: “Akoya Imagine is targeted towards a new type of buyer – young, professional and savvy to the lifestyle and financial benefits of buying in an international golf course community. “This type of community is proven to consistently yield higher returns than a purely residential one and there is a limited supply in Dubai. Combined with the Tiger Woods Design element, a villa in AKOYA Imagine presents a very lucrative investment, not to mention an extremely attractive home.”The units will go on sale on Saturday, 9th of July.
UAE-based Arabian Construction Company (ACC) has been awarded a contract to build Mashreq Bank new headquarters in Dubai.The 151m-tall tower will be built within a period of 28 months and will feature four basements, a ground level and 35 additional storeys.The L-shaped structure, with a square top crown by Skidmore, Owings & Merrill’s Chicago office, will cover a plot area of 4,868sq m and a total built-up area of 71,292sq m. Ghassan Merehbi, ACC’s chairman, said: “We are delighted to be working with one of the best-known banking industry names in the Middle East, and to be able to add Mashreq Bank headquarters to our portfolio of noteworthy projects across the UAE.”Mashreq will relocate from its current headquarters in Deira, where it has been operating since its establishment in 1967, to the new building as soon as it is completed. HE AbdulAziz Al Ghurair, Mashreq’s CEO, said: “The planned tower is testament to the growth we have witnessed over the last 50 years, which has in many ways mirrored that of both Dubai and the UAE.“In a short space of time, the country has established itself as an international gateway for trade and banking, and we’re confident in its ability to maintain its momentum, allowing us to continue investing in our business and talent across the country and wider region.”Construction work is expected to commence in December 2016, with its completion expected in April 2019.
Whaha Capital subsidiary Waha Land has signed an AED426M ($116M) financial deal with Emirates Islamic Bank for Stage 2 of its Almarkaz light industrial real estate project in the United Arab Emirates.The 1.5sq km development is located 25km south of Abu Dhabi city. Stage 2 of the project, to be built in two packages, will include an additional 187,000sq m of premium industrial and logistics facilities, as well as retail and commercial amenities.Package 2a, to be delivered by Ali & Sons Contracting L.L.C, consists of 92,500sq m of industrial and logistics facilities, and retail and commercial amenities. The first buildings will be available for occupancy in June 2017, while the entire package is expected to be complete by the fourth quarter of 2017.Further development will include flexible industrial building sizes, fitted industrial units, warehouse and storage facilities, commercial offices and food beverage outlets.Hazem Saeed Al Nowais, Waha Land’s chief executive officer, said: “Almarkaz has proven extremely popular because of the quality of the facility, and its excellent location as a hub in transport infrastructure.“This success has enabled the project to achieve attractive financing. Building on the success of Stage 1, we are moving ahead with our planned development, which aims to meet the needs of the Abu Dhabi manufacturing and logistics market in addition to SME’s.” Almarkaz’s Stage 1 comprises 90,000sq m of industrial and logistic units, which are already fully leased.
A Salini Impregilo-led consortium has won a $955M contract from Kuwait’s Public Authority for Housing Welfare to build an urban residential development in Kuwait.The contract forms part of the South Al Mutlaa Housing Project and includes the construction of 12,000ha of residential development about 40km northwest of Kuwait City.Upon completion, the project will provide accommodation for 400,000 residents. The project will also see the construction of 150km of roads and related structures, numerous art works, lighting infrastructure, water distribution, rainwater gathering and sewage systems, and other civil works.
Oman Tourism Development Company (Omran) has announced that it will facilitate the development of Oman’s first world-class family waterpark in Muscat.The project has been developed by six graduates of the National CEO Programme (NCP) — an initiative by the public private partnership taskforce (Sharaka), under the benefaction of the Diwan of Royal Court.The team has worked on the development for one year, spending 5,000 hours on the elaboration of a detailed business plan, including financial modelling and stakeholder research.James Wilson, CEO of Omran, said: “Omran’s mission is to seek and support projects of national significance that can help position Oman as a leading global visitor destination. “We actively look to support develop and grow national capacities to develop and manage these projects, which is why we are fully committed to collaborating with the NCP. “Based on extensive market research carried out by the NCP team it is clear that there is significant interest from the younger generation in Oman and as is the case at other successful Waterparks in our neighbouring countries it is a significant driver of family based hotel occupancy.”
Turner & Townsend has been chosen to provide full project and cost management services for the construction of Unilever’s new manufacturing plant in the UAE.The £250M facility will enable the consumer brands firm to expand its latest personal care products business across Middle Eastern and Northern African countries, while creating 400 jobs.Turner & Townsend’s managing director for Middle East Mike Collings said: “Having worked successfully with Unilever on multiple occasions, we have a clear understanding of their expectations so we are well positioned to deliver a high-quality finished product, which will exemplify best practice in environmental friendly construction.”Unilever Gulf’s supply chain director Ahmed Kadous said: “We’ve worked with Turner & Townsend before so we’re confident in their ability to deliver the latest and best practice whilst working on this project.“Our decision to continue investing in Dubai was the result of the steady rise in demand for quality personal care products in the region. In addition to that, the new facility will assist us in achieving our long-term vision; doubling the size of our business while halving our environmental footprint.”
Bahrain Real Estate Investment (Edamah) has announced an investment of $930M to transform the Hawar Islands into an eco-friendly tourism destination.The project, to be located across 100ha on the northern coast, will be delivered in two stages. Stage one will include the construction of a 350 key five-star lagoon resort and 150 eco-friendly apartments and villas. Stage two will involve the renovation of an 100-year old Hawar mosque, the development of a bird research centre, a hotel and heritage souq, 155 residential villas and a wellness resort and spa.Construction work is expected to start in 2017, with the lagoon resort opening in 2019. The second phase of the development will be complete by the end of 2021. The development also includes a revamp of the existing Hawar resort, which will offer new water sports activities, entertainment and restaurant facilities. The resort is scheduled to open its doors in July 2016.Edamah’s chief development officer Mireille Babti said: “Preserving the environment and promoting healthy living is at the heart of our development’s strategy. “We are promoting an offering to cater to diverse lifestyles and socioeconomic conditions, and we aim to transform Hawar into an eco-friendly offering that intertwines with nature to provide an experience of barefoot luxury that is second to none.“In doing so, the team is conscious of developing Northern Hawar in a holistic manner, promoting sustainability and innovation, while preserving the raw wilderness of the habitat.”Once completed, the project is expected to create 3,000 direct jobs.Hawar archipelago comprises 35 islands spanning over 51M sq m to the south-east of the Kingdom’s mainland. 80% of its land is a wildlife preservation zone, home to the world’s largest breeding for the Socotra cormorant bird, the dugong seacow, the Arabian oryx, reem gazelle, and extensive sea grass and coral.
Larsen & Toubro and Al Balagh Trading & Contracting joint venture has been awarded a contract to build the Al Rayyan Stadium in Qatar.The contract was announced by the Supreme Committee for Delivery & Legacy.Designed by Ramboll and Pattern, the 40,000-seat stadium will host games up to the quarter-finals at the 2022 FIFA World Cup.Under the contract, the joint venture will be responsible for the main works and construction of the site, following the completion of enabling works.The contract for the project is for a combined value of $360m for both JV partners and is scheduled to be completed by 2019.After completion of the tournament, the stadium will accommodate 20,000 seats and will be the home for Al Rayyan Sports Club.Al Balagh chairman Sherida Saad Jubran Al Kaabi said: "The award of main construction works for Al Rayyan Stadium and precinct to Al Balagh, a 100% Qatari company along with its joint venture partner, L&T, is a great honour and recognition."L&T Qatar CEO Dr Jens Huckfeldt said: "It is a matter of immense pride for us at Larsen & Toubro Limited, along with our joint venture partner Al Balagh, to have been given the responsibility to design and build the Al Rayyan Stadium and Precinct in preparation for the historic first Middle Eastern FIFA World Cup in 2022."We are extremely mindful of the trust and confidence given to us by the Supreme Committee for constructing this stadium and it will be our endeavour to deliver a masterpiece."
Saudi Aramco has signed a memorandum of understanding (MoU) with GE and Cividale SpA of Italy to build the SAR1.5bn ($400M) forging and casting manufacturing facility in Saudi Arabia.The facility will be located in Ras Al-Khair under the Royal Commission of Jubail and Yanbu industrial area.It will complement Saudi Aramco’s plans to develop several industrial projects in the country including a maritime project focused on building, maintenance, repair and overhaul (MRO) of offshore platforms, jack-ups, offshore service vessels and commercial tankers.The facility is scheduled to be operational in 2020 and create 2,000 jobs in the region. Cividale is a producer in the steel and cast iron industry.Saudi Aramco’s senior vice president of finance, strategy and development Abdallah Al-Saadan said: “The MoU reflects our ambition to create a robust supply chain that builds positive synergies in the oil and gas manufacturing sector.“This builds on our deep commitment to support the goals of Saudi Vision 2030 to promote economic and industrial diversification in the Kingdom and boost localized manufacturing.”The plant is scheduled to be operational in 2020 and create 2,000 jobs in the region.
Dubai Holding’s real estate arm Dubai Properties Group has started work on a AED1bn ($272M) waterfront development in Dubai.The project, named ‘Marasi Business Bay’, will feature a 12km promenade, water homes with boat access, floating restaurants and cafes, leisure and entertainment facilities and five tree-lined marinas.It will also include more than 100 shops and outlets, spanning about 16,000sq m, and 60,000sq m of park area.The promenade will be divided into three themed areas, the yacht club with luxury homes, the park and the pier.According to the developer, the Bay is set to become a major future landmark in Dubai, a unique waterside destination concept in the UAE and Middle East.H.E. Mohammad Abdulla AlGergawi, chairman of Dubai Holding, said: “The new project will strengthen the historic relationship between Dubai and its creek through the addition of a new dimension to the residential, tourism and leisure offerings along the Dubai Creek.“Located along the Dubai Water Canal, this waterfront destination embraces the longest water-side promenades, comprising a space rich with green spaces. Our goal is to build a way of life. “Our approach to the real estate landscape has gone far beyond the construction of towers and buildings, to encompass innovation and creativity; a symbol of the civilization of Dubai and the UAE and an essential instrument contributing to the happiness of the people as envisioned by His Highness Sheikh Mohammed bin Rashid Al Maktoum.”‘Marasi Business Bay’ will be built in phases, with its first phase, the promenade, to be complete by September 2016, followed by the park and the yacht club. Overall works are set to be concluded by 2023.
Dubai Municipality has awarded a contract to build an AED 1.8bn ($490M) conference centre in Dubai.Located on a 55,000sq m site in Al Jaddaf, the centre will feature Sheikh Rashid Hall conference venue, an 18,000sq m indoor arena with a height of 98ft capable of accommodating 10,000 people. It will include theatre-style seating and will be ideal for international conferences, seminars, music concerts and shows. The project will also see the construction of five sub-halls, each covering a total area of 975sq m and accommodating up to 1,000 people. The three new adjoining towers will include a 33-storey three-star hotel, a 48-floor four-star hotel and a 36-floor office block to be linked to the halls through a concourse building featuring shops and restaurants.A 65,000sq m car park with capacity for 1,800 cars will be also built.
Spanish construction firm Grupo ACS has secured a €235M contract to construct an industrial waste treatment plant in Abu Dhabi.ACS unit Intecsa, delivering the contract on behalf of the Abu Dhabi Oil Refining Company Takreer, will design, procure, build and commission a plant that will have a capacity to treat industrial waste from all the affiliates of Adnoc in Abu Dhabi.The facility will be situated in the industrial zone of Ruwais, about 250km west of Abu Dhabi.Construction work is set to commence next month and the plant is expected to be complete in the second half of 2019.
UAE-based real estate developer Sobha Group and the government of Umm Al Quwain have signed an equal stake joint venture to develop an AED25bn ($6.8bn) tourism resort on Al Sinniyah Island.The project, called Firdous Sobha, will feature a luxury seafront villa community, hotels and resorts, apartments, boutique shops, an 18-hole golf course, a water sports centre and a wellness spa.Located on Al Seniyah Island, along with Khor al-Beidah, the development will cover a total land area of 53m sq ft.Sobha’s Group founder and chairman PNC Menon said: "Our latest project announcement represents our commitment to the UAE."In line with our aim to fully leverage the opportunities present in this highly dynamic market, we have partnered with Umm Al Quwain Government, and are jointly to transform the island into a world class destination and a hot spot for iconic properties."By combining our capabilities and expertise, we are confident ‘Firdous Sobha’ will be a proud testament to our commitment to quality."
DAMAC Properties has announced that its $1.3bn luxury hotel and serviced residences, DAMAC Towers by Paramount Hotels & Resorts, in Dubai has been topped out. The company also stated that 60% of the façade work of the four-tower complex has been completed, with the interior fit-out progressing steadily.Each tower of DAMAC Towers by Paramount Hotels & Resorts will stretch more than 250m into the air, with ten podium levels and 58 additional storeys. Three of the four towers will have, in total, 1,200 luxury serviced residences.The fourth tower, the Paramount Hotel, will feature more than 800 rooms and suites, along with a lobby with a coffee lounge and chocolaterie. It will also include a reception area, featuring 360-degree floor-to-ceiling digital walls and a wide range of eateries.Paramount Hotels & Resorts chairman Ghassan Aridi said: "This is a much-anticipated achievement for us, as it will be the world's first-ever Paramount Hotel and Paramount Residences, and it will also represent the premiere of the Paramount Hotels & Resorts brand in the UAE."Dubai has built a reputation as a leisure destination, with impeccable service standards and lifestyle offering. DAMAC Towers by Paramount Hotels & Resorts will seamlessly combine the timeless Hollywood glamour of the movie industry with Dubai style."The towers are expected to be completed in 2017.
Oman’s Minister of Housing Sheikh Saif bin Mohammed Al Shabibi has signed two housing contracts worth OMR75,97m ($197m). The first deal involves setting up infrastructure for a new residential area in Liwa in the Governorate of North Al Batinah, while the second agreement is related to providing consultancy services for preparing the necessary studies and detailed layouts for the new urban complex at Al Najd area in the Wilayat of Thumrait in the Governorate of Dhofar. The new agreements include water, irrigation, rainwater discharge, sanitary drainage, electricity and communication networks. Earlier, the agreement for levelling the site and roads for the new residential area in the Wilayat of Liwa was signed for more than OMR25m ($65m), and included the construction of roads that connect the residential districts and the service road parallel to the current Al Batinah road.
Artar Real Estate Development, the property development arm of Abdulrahman Saad Al-Rashid & Sons Company, has completed 15% of the construction work on the Mada Residences in Dubai. The AED600m ($163m) Mada Residences are being built in Downtown Dubai, where the main core of the tower has reached the fifth floor.The development will feature a total of 193 one-, two-, three- and four-bedroom units. With floor-to-ceiling glass throughout, each unit has been designed to be light, airy and roomy.Residents at Mada Residences will have access to a roof-top swimming pool, children's pool, terrace lounge, sauna and steam rooms, jacuzzi, a gym and a multi-purpose residents' lounge. Artar’s CEO Sulaiman Abdulrahman Al Rashid said: "Since the commencement of construction, the progress of Mada Residences, has been on schedule. We are in the process of pouring the concrete for the first podium floor above ground, with the main core of the tower reaching the 5th floor."Savvy buyers are recognizing the potential of this area and are confident enough to purchase multiple units with expectations of steady appreciation over the next three to five years."Our successful sales record with Mada Residences is largely attributable to our competitive prices, attractive payment plan, project location, unit layout design and the advanced construction progress."The construction progress on the site indicates that the project will be completed by July 2018.
A joint venture between San Jose Contracting and Pivot Engineering & General Contracting has won the main construction contract for Mamsha Al Saadiyat, a residential development in Abu Dhabi.The AED1.25bn (about $340m) project will be the first residential development within the Saadiyat Cultural District. It will feature nine low-rise residential buildings with a total of 461 units, 414 of which will be apartments ranging from one- to four-bedroom apartments, as well as five-bedroom duplex penthouses and 47 townhouses. Each penthouse will have a private swimming pool and terrace, as well as a modern kitchen, two living rooms and a dining room. There will be accommodation for maids and drivers as well.The gross floor area of the apartments will range from approximately 106–454 sq m, while the townhouses will range from approximately 227–315 sq m.The entire project will also include a serviced-apartment building and a retail destination offering approximately 5,000 sq m of leasable area for both retail and dining outlets.The townhouses, ranging in size from two to three bedrooms, will be located on the ground floor of each building, with some having a roof garden.Work on the development's foundation has already been completed by Nael & Bin Harmal Hydroexport (NBHH) and included excavation, shoring, dewatering and piling works.Mamsha Al Saadiyat will be developed in phases, and is expected to be complete in the second half of 2018.
Miral and Warner Bros have announced that the $1bn Warner Bros World Abu Dhabi theme park construction is in progress. The themed destination is being built on Yas Island, alongside the Ferrari World Abu Dhabi and Yas Waterworld, where rides are already under production. The development will also feature a Warner Bros branded hotel.The first phase of the project is slated to open in 2018 and is expected to create more than 1,000 jobs.Warner Bros Entertainment chairman and CEO Kevin Tsujihara said: "Warner Bros has been entertaining audiences for more than 90 years with the world's most-loved characters and franchises."Working with our partners at Miral, we'll bring this expertise to Yas Island, one of the world's leading entertainment destinations, to create a fully-interactive, innovative and unique experience that will allow fans of all ages to experience the most exciting aspects of Warner Bros. in a completely immersive environment."
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