In a groundbreaking move to boost foreign investment and revitalise the real estate sector, the Kingdom of Saudi Arabia has announced plans to open the real estate market in designated areas of the kingdom to foreign buyers.
Saudi Electricity Company (SEC) has awarded contracts worth $906 million for the construction of two 380kV bulk supply point (BSP) substation units at Afif in the central region of Saudi Arabia along with three overhead transmission line (OHTL) projects.
Bechtel, a leading provider of engineering, construction and project management services, has announced it has been appointed the project management consultant for the 2030 World Expo in Riyadh.
ROSHN Group, Saudi Arabia’s leading multi-asset real estate developer and a Public Investment Fund (PIF) company, has been listed among the top 25 real estate brands globally by Brand Finance, the world’s leading brand valuation consultancy.
Saudi Principal Buyer has announced that it has signed power purchase agreements with a consortium led by Saudi utility major Acwa Power for seven new renewable energy projects worth a total of SAR31 billion ($8.3 billion). These deals fall within the National Renewable Energy Programme, supervised by the Saudi Ministry of Energy.
The King Abdullah Financial District Development and Management Company (KAFD DMC) has announced that it was been awarded a Guinness World Record for the world’s largest continuous pedestrian skyway network.
Saudi Arabia’s Royal Commission for Riyadh City (RCRC) has awarded a major contract worth up to $900 million to the Arriyadh New Mobility Consortium to build the next phase of the Riyadh Metro project, which is the Line 2 (Red Line) extension, reported MEED.
Nesma & Partners, a leading integrated projects solutions company in Saudi Arabia, has announced the successful acquisition of Al Yusr Industrial Contracting Company (AYTB), a prominent provider of industrial services in the kingdom.
Growth in Saudi Arabia’s construction activity shows no signs of slowing, with the construction output value for the construction, transport, power, oil and gas, industrial, water and chemical sectors reaching $148 billion in the first half of 2024, up 4.
Saudi Ports Authority (Mawani) has laid the foundation stone for a logistics corridor connecting Jeddah Islamic Port to the Al Khumrah Logistics Park. It stretches 17-km long and includes two lanes in each direction.
LWK + Partners, a leading Hong Kong-based architecture and design practice, has unveiled Saudi Arabia’s pioneering national technology and cybersecurity district – Pulse Wadi – being set up on a 600,000-sq-m area in Riyadh.
Saudi Principal Buyer has announced that it has signed a power purchase agreement (PPA) with a consortium of Japanese group Marubeni Corporation and Abdulaziz Al Ajlan For Commercial and Real Estate Investment (Ajlan & Bros) for the 700MW Yanbu Wind Energy project.
