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Tag: SaudI

Construction & Real Estate

Juranah strategic water reservoir project achieves key construction milestone

Sharakat, a leading entity in the Saudi water sector, has announced that Juranah Independent Strategic Water Reservoir project has achieved a key milestone, clocking 4.9 million safe working hours without a Lost Time Injury (LTI). With work in full swing, the project is set for commercial operations in Q2 next year. ...

Construction & Real Estate

Jeddah shines in Saudi residential sector with record $9.7bn sales in 2025

Saudi Arabia’s three major residential markets – Riyadh, Jeddah and Dammam – delivered contrasting performances in 2025, said an expert. Jeddah emerged the top performer with record sales of SAR36.6 billion ($9.75 billion) followed by Dammam while in capital Riyadh, elevated financing costs led to a decline in buyer activity. ...

Construction & Real Estate

King Abdullah Gardens Project enters fast-track

Construction on the King Abdullah Gardens (KAGA) is advancing rapidly, marking significant progress on one of Riyadh's most prominent environmental initiatives. Spanning more than 2 million sq m, KAGA ranks among the world's three largest covered botanical gardens. ...

Construction & Real Estate

Saudi contractor Unimac seals partnership deal with ProGrowth Company

United Maintenance and Contracting Company (Unimac), a specialised heavy civil contracting company based in Saudi Arabia, has announced that it has officially signed a strategic agreement with ProGrowth Company for collaboration on leading projects in the kingdom. ...

Construction & Real Estate

Asas Makeen lands contract for Riyadh villa community project

Asas Makeen for Real Estate Development Company has announced that it has secured a major contract from Awa'id Al Hada for the development of a villa community project in Riyadh. The scope of work includes management and construction of key residential units over a 10,468 sq m area. ...

Construction & Real Estate

Retal eyes $151m capital hike for Ajdan stake acquisition

Saudi-based Retal Urban Development Company has announced plans to raise its capital to SAR555 million ($151 million) from SAR500 million ($136 million) in a bid to facilitate its planned acquisition of a stake in Ajdan Real Estate Development Company from AlFozan Holding....

Construction & Real Estate

Diriyah unveils 1.9km main spine within mega Saudi development

Diriyah Company, the developer of Saudi Arabia's premier historical, cultural, and lifestyle destination, has announced the launch of a 1.9-km-long main spine within its mega development in the kingdom's ancient city. The GrandAvenue will boast iconic landmarks, hotels, offices, retail spaces and residential units. ...

Construction & Real Estate

Retal secures $852m King Salman Park mixed-use project contract

Retal Urban Development Company said its consortium has secured a SAR3.2 billion ($852 million) contract to develop a mixed-use project within King Salman Park in Riyadh. It boasts an integrated urban district featuring over 600 residential units and 140 hotel properties in addition to 50,000 sq m of office space. ...

Construction & Real Estate

89 global firms in race for Qassim airport project contract

Saudi Arabia's Matarat Holding has announced that 89 leading players in airport construction sector including 55 Saudi companies are in the race to build the Prince Naif bin Abdulaziz International Airport in Qassim. The list includes 19 developers, 33 EPC contractors as well as 13 operators. ...

Construction & Real Estate

Umm Al Qura seals reservation agreements for sale of two Masar plots

Saudi-based Umm Al Qura for Development and Construction Company has announced the extension of two reservation agreements with Mousa Abdulaziz Al Mousa & Sons Real Estate Holding Group for the sale of two plots within its premium Masar Destination in Makkah. ...

Construction & Real Estate

First Avenue inks contract for key Saudi mixed-use project

Saudi developer First Avenue has signed an agreement with Jadwa Al Shorfa Real Estate Fund for a mixed-use project in the capital Riyadh featuring a mix of commercial, residential and office units. The project, Capital Avenue - Al Rayyan, will come up on a 38,950 sq m area at the intersection of the Eastern Ring-Makkah Khuris Road. ...

Construction & Real Estate

Aedas secures design contract for 100-key Capella Diriyah hotel project

Aedas, a leading global architecture and design practice, has secured the design and project architecture contract for a 100-key hotel project - Capella Diriyah by Aedas - coming up over a 14,168 sq m area within the Northern District of the giga Diriyah development in Saudi Arabia. ...

Construction & Real Estate

Roshn inks deal with Miskan to develop prime land in Riyadh

Roshn Group, Saudi Arabia's leading multi-asset class developer powered by sovereign wealth fund PIF, has signed a strategic agreement with Miskan Real Estate Company, to develop more than 68,000 sq m of land within Warefa community in the capital Riyadh for a key residential project. ...

Construction & Real Estate

KBR lands Saudi petchem complex maintenance contract

SATORP, a joint venture between Saudi oil giant Aramco and French multinational integrated energy TotalEnergies, has signed up KBR, a leading technology and engineering solutions company, to provide comprehensive maintenance services for its petrochemical complex in Jubail for the next seven years....

Construction & Real Estate

Saudi heavy construction equipment market set to hit $3.5bn by 2030

Saudi Arabia's heavy construction equipment market is poised for solid growth over the next few years with the market set to hit $3.5 billion by 2030, driven by the ongoing government initiatives and urbanisation trends. As the country continues to invest in mega projects, the demand for advanced machinery is set to rise, said a report. ...

Construction & Real Estate

Acwa's 2025 revenue soars to $1.97bn; net profit up 60pc

Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings. ...

Construction & Real Estate

Diriyah awards $666m Pendry Superblock Package deal

Diriyah Company has awarded SAR2.5 billion ($666 million) contract for the implementation of the Pendry Superblock Package within its giga project in Saudi capital Riyadh. The scope of work includes construction of the Pendry Hotel as well as premium residential and commercial assets spanning over a 75,000 sq m area....

Construction & Real Estate

Misk City names Sami bin Jasser as new CEO

Saudi-based Misk Foundation has appointed Eng. Sami bin Jasser Al Jasser, a strategic development expert, as the new Chief Executive Officer of its mega Mohammed bin Salman Nonprofit City (Misk City) - a first-of-its-kind project coming up on a 3.4-sq-km area in capital Riyadh. ...

Construction & Real Estate

Marafiq achieves financial close for $500m Amiral wastewater project

Leading Saudi utility company Marafiq has announced that its consortium - comprising partners Veolia Middle East and Lamar Arabia Energy - has achieved financial close for the $500 million Amiral Industrial Wastewater Treatment and Reuse Project in Jubail Industrial City II. ...

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