Qiddiya Investment Company (QIC), a Saudi group backed by the kingdom’s sovereign wealth fund, has announced the launch of the Gaming and Esports District within its giga Qiddiya development.
Saudi Entertainment Ventures (Seven), a subsidiary of the kingdom’s sovereign wealth fund PIF (Public Investment Fund), has announced plans to set up its fifth entertainment destination, its largest in the Aseer region at an investment of more than SR1.3 billion ($346 million).
A consortium of Italian consulting and project company Italferr, Spanish engineering group Sener and US-based construction management expert Hill International has emerged as the preferred bidder for a project management consultancy (PMC) contract for the Saudi Landbridge project.
Indian engineering and construction conglomerate Larsen & Toubro (L&T) has won the turnkey engineering, procurement and construction (EPC) contract for setting up renewable energy, power utilities and water systems for Saudi Arabia's ultra-luxury tourism destination, Amaala, in the Red Sea region.
Juffali Commercial Vehicles (JCV), a Saudi automotive powerhouse, has launched a dedicated luxury vehicle rental arm to address the growing demand for luxury transportation options, particularly from tourists and business travellers, thus redefining the kingdom’s transportation landscape.
Saudi Arabia’s New Murabba Development Company (NMDC), a fully-owned subsidiary of Saudi sovereign wealth fund PIF (Public Investment Fund), has signed up Aecom, a leading infrastructure consulting firm, to provide project management consultancy services for all buildings across its 19 million-sq-m New Murabba masterplan.
Saudi Arabia is unlikely to reduce project spending in 2024 despite the annual budget seeing a decline in expenditure compared to the actual estimate of 2023 spending, which has been put at SR1.28 trillion ($341.24 billion), a report said.
Diriyah Company has announced plans for the Royal Diriyah Opera House, a first-of-its-kind project in the kingdom. Encompassing a 45,000-sq-m area, the opera house will be located near the Unesco World Heritage Site of At Turaif in Riyadh’s Diriyah area.
Diriyah Company, the developer of a $63.2 billion giga-project in Diriyah, a town in the north-western outskirts of Riyadh, has broken ground on three renowned hotels – Oberoi, Aman and Six Senses – as part of its Wadi Safar masterplan.
Neom last month unveiled two key projects within the sustainable futuristic city taking shape in northwest Saudi Arabia – Norlana, an ultra-modern active lifestyle community, and Utamo, its immersive destination for art and entertainment.
EDECS, a key engineering and construction company, has secured a major infrastructure and road works contract from DP World for the development of the third stage of its Jeddah South Container Terminal in Saudi Arabia.
