The Red Sea Development Company (TRSDC), the developer behind ultra-luxury tourism destination Amaala, has announced tangible progress across the development, with over 300 contracts signed to date, worth in excess of SR6.62 billion ($1.7 billion).
Thakher Development Company, the developer of the masterplan and infrastructure of the SR26-billion ($7 billion) Thakher Makkah project, has announced that it has obtained the off-plan sales permit from the Wafi off-plan sales and rent committee at the Ministry of Municipal and Rural Affairs and Housing in Saudi Arabia.
Seah Gulf Special Steel said it has sealed two agreements for its new steel pipe factory in Dammam being built at an investment of more than SR1 billion ($266.
Al Bawani Water & Power Company (AWP), a leading Saudi utility company, said it has reached an agreement to acquire the entire shares of Dutch firm A.Hak Pijpleidingen's Saudi unit, in a major move that will help boost Al Bawani’s growth plans in the water, environment and oil and gas sectors.
National Housing Company (NHC) has signed deals with two Saudi real estate companies for the development of residential units in Riyadh. Under the first deal, Retal Urban Development Company will develop 759 residential units in the Al Fursan District I in Riyadh at a total investment of SR864 million ($230 million).
Saudi Arabia's futuristic $500-billion city Neom has announced the formal operational opening of Neom Media Village and Bajdah Desert Studios, which together comprise the country’s largest sound stages and film production support facilities, having supported some 25 productions over the course of the last 18 months.
The total value of real estate and infrastructure projects since the launch of Saudi Arabia’s National Transformation Plan in 2016 has crossed $1.1 trillion, according to global real estate consultancy Knight Frank.
Saudi Arabia has launched the second phase of projects at Al Wajiha suburb located in Dammam and Qumra community in Qatif Governorate featuring a total of more than 7,700 housing units.
