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In the News this week
Abu Dhabi’s Aldar Properties marked its entry into Dubai Property scene by signing a joint venture agreement with Dubai Holding to develop new real estate projects across the emirates. The venture will develop new communities in three locations along the E311 and E611 corridors across an area of 3.55 million sq.m.
Masdar City Abu Dhabi broke ground on The Link, a 30,000-sq.m development, featuring the region’s first ‘net-zero energy’ shared working and living facility. The Link will also feature four other low-carbon buildings that will include event space, outdoor plazas, shaded courtyards, recreational and fitness facilities, and retail. Dutco Construction Company is the contractor and Edge Architects is the Consultant for the project.
In Saudi Arabia, Maaden awarded $278 million EPCM contract to WorleyParsons Arabia and Jesa International for the construction of Phase One of its Phosphate 3 complex project which will be built in the industrial cities of Wa’ad Al Shamal and Ras Al Khair. Upon completion in 42 months, the complex will produce 1.5 tonnes per year of phosphate fertilisers.
Saudi Arabian developer Roshn said it has signed a co-operation agreement with the Eastern Province Municipality for the establishment of model residential districts in the region. The deal also covers the design and application of the urban code and infrastructure.
Saudi Arabia’s Public Investment Fund (PIF) signed a deal with American company AeroFarms to build indoor vertical farms in the Kingdom and across the Middle East and North Africa. The deal aims to make the best use of natural resources via adopting indoor vertical farming techniques that grow more food in less space and use 95 percent less water than traditional farming.
Oman is moving ahead with the Muscat Metro project, with bids for the consultancy contract set to be opened on February 1, 2023. Ministry of Transport, Communications and Information Technology (MTCIT) had invited qualified international consultants to bid for its contract to provide advisory services linked to the landmark project.
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