Shomoul Holding Company, a unit of Kuwaiti developer Mabanee, has awarded a design-and-build contract worth SR6.15 billion ($1.6 billion) for Phase One of The Avenues Riyadh project to Nesma and Partners Contracting Company.

Umm Al Qura for Development and Construction, a major Saudi group involved in the development projects in and around Makkah, has announced the appointment of Yasser Abuateek as its new chief executive officer.

Saudi Aramco has awarded Dar Al-Handasah (Shair and Partners) a general engineering and project management services infrastructure (GESi) contract for up to five years covering existing and new infrastructure projects. Dar Al-Handasah is the founding company of the Dar group.

Neom, a new destination being created in Saudi Arabia, has joined hands with Al Tamimi Group and Saudi Arabian Trading & Construction Company (Satco) to break ground on the first residential complexes for workers at the Construction Village.

Saudi Arabia has started work on Madinat Al Wouroud, a SR2.38-billion ($633 million) residential development coming up over a sprawling 6.3-million-sq-m area in  the Taif region of the kingdom, said a report.

Saudi-based The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism initiatives, has signed up Huta Hegerfield and Saudconsulting Services (Saudconsult) to undertake a major groundwork improvement project for the Coastal Village at the Red Sea Project site.

Saudi Arabia has started work on four major well-being projects in Riyadh, which are being implemented as part of an ambitious urban planning and civil engineering programme to transform the kingdom’s capital into one of the most livable cities in the world, according to the Royal Commission for Riyadh City (RCRC).

Rikaz Properties in new hotel deal InterContinental Hotels Group (IHG) has signed a management agreement with real estate company Rikaz Properties to develop its fourth Holiday Inn hotel in Al Khobar. The group had signed two Holiday Inn properties in Madinah and Jeddah earlier this year.