Kuwait-based real estate development company Mabanee has announced that its Saudi subsidiary has awarded contracts worth SAR1.13 billion ($301 million) for the construction of five towers within the second phase of its mixed-use destination – The Avenues Riyadh. The SAR17.

Alat, an innovative PIF company focused on creating a world-class manufacturing hub in Saudi Arabia, and Lenovo, a global technology powerhouse, have broken ground at the new manufacturing base in Riyadh.

NEOM, the sustainable region taking shape in northwestern Saudi Arabia, and DataVolt, a Saudi-based international developer, investor and operator of data centres, have signed a landmark agreement, marking a significant step toward realising the kingdom’s vision for a sustainable, data-driven economy.

Baheej Tourism Development Company, a joint venture between Asfar (a tourism investment company of Saudi PIF) and the Tamimi-AWN Alliance, has broken ground on its inaugural multi-project tourism destination in Yanbu.

Qiddiya Investment Company, Mercedes AMG and the Mercedes AMG Petronas F1 Team have announced a game-changing partnership to open a world-class experience centre dedicated to the iconic automotive brand in Saudi Arabia’s Qiddiya City.

Dar Global, the London-listed luxury real estate developer, has announced that it has awarded the enabling works contract for the highly anticipated Trump Tower Jeddah to Specialized Italian Foundation Company (Sifco).

The Royal Commission for Riyadh City (RCRC) has announced that it has begun implementing the key projects under the Second Group of the Riyadh Ring Roads and Main Axes Development Programme, aimed at strengthening the transportation system in the capital.

Roshn Group, the kingdom’s leading multi-asset class real estate developer powered by Saudi wealth fund PIF, has announced that it has awarded new contracts worth SAR1.5 billion ($400 million) for Sedra, the group’s largest integrated development in Riyadh.

Saudi Arabia’s non-oil sector is poised for substantial growth over the next two years, mainly driven by the expansion of prime industries, said its economy and planning minister. Faisal Alibrahim was speaking at the Public Investment Fund (PIF) Private Sector Forum in Riyadh last month.

Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and Amaala, has unveiled its residential property brand Red Sea Residences. Red Sea Residences aims to set new benchmarks in ultra-luxury living by offering elevated residences designed by world-renowned architects and interior designers.

Saudi-based Matarat Holding, in collaboration with National Center for Privatization & PPP, has announced that leading global players in airport construction sector including Korean group Samsung C&T, French major Bouygues Batiment, UK’s Manchester Airport Group, Germany’s Munich Airport International,  India’s GMR Ai

Saudi Water Partnership Company (SWPC) has announced the signing of agreements worth SAR2.6 billion ($693 million) for the implementation of Ras Mohaisen Independent Water Plant (IWP, a major utility project coming up in Al Qunfudhah Governorate.

Saudi Arabia’s sovereign wealth fund PIF has announced plans to develop an exclusive cluster for automotive manufacturing activities within the King Abdullah Economic City (KAEC).

South Korean construction group Hyundai E&C has announced that it has received transmission line orders worth $389 million from Saudi Arabia.