The Public Investment Fund (PIF) of Saudi Arabia has announced the launch of Amaala, which will become an uber-luxury destination on the northwestern coast of the kingdom. It aims to create an all-new concept for ultra-luxury tourism focusing on wellness, healthy living, and meditation.

Pöyry, an international consulting and engineering company, said it has secured the owner’s engineer services contract from the Saline Water Conversion Corporation (SWCC) for the Shuqaiq Phase Three water transmission system project in Saudi Arabia.

Saudi Real Estate for Infrastructure Company (Binyah) has won a SR1.1-billion ($293 million) infrastructure contract from the kingdom’s leading developer Al Akaria Saudi Real Estate (Sreco) for its giant Al Widyan project near capital Riyadh.

The Red Sea Development Company (TRSDC), a wholly-owned entity of Saudi Public Investment Fund (PIF), has set up an international advisory board for the development of its ambitious Red Sea Project, along the Saudi west coast.

Arriyadh Development Authority (ADA) has awarded two contracts for the operation and maintenance (O&M) of all six lines of the Riyadh Metro network over 12 years including the mobilisation period. Under the first contract, the Flow consortium will provide O&M services for lines 3, 4, 5 and 6 of the metro.

In a major boost to the country’s economy, Saudi Arabia has announced 10 major projects and development programmes worth more than SR685 billion ($183 billion) as the kingdom celebrated its 88th National Day last month.