Jeddah Central Development Company, a wholly-owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF) has signed an agreement with the Royal Saudi Air Defense Forces Institute to acquire a prime site for Phase One of its SR75 billion ($20.4 billion) Jeddah Central Project.
Saudi Arabia has announced that work is progressing well on seven major residential suburbs being developed in major cities across the kingdom under its Sakani Housing programme. Once completed, they will add 146,500 new homes on the kingdom’s market.
Mohammed bin Salman Foundation (Misk) has unveiled the masterplan for Prince Mohammed Bin Salman Nonprofit City – the first of its kind in the world – to be developed on a 3.4-sq-km area in Riyadh.
Saudi Arabia’s Ministry of Energy has awarded contracts for Ar Rass and Saad Solar renewable energy projects with a total capacity of 1,000 MW.
HRH Mohammed bin Salman, Saudi Arabia’s Crown Prince and Chairman of the Neom Company Board of Directors, last month launched Trojena, a new global destination for mountain tourism that will take shape in the $500-billion futuristic megacity Neom.
The Red Sea Development Company (TRSDC) has awarded the operations contract for the Coastal Village Hospital to Steward alf Global Healthcare Company, a joint venture between Alf Healthcare, the healthcare arm of Saudi developer and operator of large-scale PPP projects Alfanar, and leading healthcare provider Steward Health Care International.
Saudi Real Estate Refinance Company (SRC), a wholly owned company of the Public Investment Fund (PIF), has signed an agreement with Saudi National Bank (SNB) to sell a real estate financing portfolio worth SR1 billion ($266.58 million), which is considered to be the largest bank refinancing in the kingdom.
Saudi-based Umm Al Qura for Development and Construction said it has signed an agreement with Al Diar Al Arabiya Company for the construction of 10 new residential towers at Masar residential community development within Makkah city at an investment of SR3 billion ($798 million).
Doosan Heavy Industries and Construction has announced the groundbreaking of the Tuwaiq Casting & Forging factory in Ras Al Khair with a total capacity to produce 60,000 tonnes of castings and forgings per year.
