Neom unveils tourism island; awards contracts
His Royal Highness Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of Neom, has unveiled plans for Sindalah, the first luxury island destination within the mega futuristic city on the Red Sea. Spread over an 840,000-sq-m area, Sindalah is one among a group of islands that will be developed within Neom.
More...PIF mulls 2-km megatall skyscraper near Riyadh
Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) plans to build a 2-km-high megatall tower as part of an 18-sq-km masterplanned development to the north of Riyadh, said a report by Meed.
More...Roshn launches Al Arous homes in Jeddah
Leading Saudi developer Roshn has announced the sales of all residential units within Phase One of its community project, Al Arous in Jeddah.
More...Acwa, PIF unit to build largest solar PV plant
Saudi-based Acwa Power has signed an agreement with Badeel, a wholly-owned unit of the kingdom's sovereign wealth fund Public Investment Fund (PIF), to develop a 2,060 MW solar photovoltaic (PV) plant at Al Shuaibah in Makkah province.
More...Rafal-Citic JV to set up industrial complex
Saudi-based Rafal Real Estate Development has announced that its joint venture with Citic Construction, a subsidiary of China’s state-owned conglomerate Citic group, has reached an agreement with National Housing Company for the construction of an industrial complex in Riyadh.
More...Kingdom leads region with $1.1trn project pipeline
Saudi Arabia’s construction industry continues to lead the Mena region despite the macroeconomic conditions hitting the sector globally, according to leading real estate expert JLL.
More...Foster+Partners to design Riyadh airport
Leading architectural firm Foster+Partners said it has won a competition to design the masterplan for King Salman International Airport, one of the world’s largest airports spread over a 57-sq-km area in Riyadh, featuring a host of facilities.
More...Al Akaria unit wins Diriyah Gate works deal
Saudi real estate group Al Akaria has announced that one of its key subsidiaries, Binyah, has secured a SR374-million ($99.5 million) contract from Diriyah Gate Company to carry out enabling works at its DG II project site.
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January 2023 (Volume xliv Issue 1)