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Tag: saudi

Construction & Real Estate

Maaden Q2 profit climbs 13pc on higher commodities, strong gold sales

Saudi Arabian Mining Company (Maaden) has reported solid results for the second quarter with its net profit surging 13% to SAR2.18 billion ($580 million) and its revenue hitting SAR10.9 billion ($2.87 billion), helped by higher commodity prices and increased gold sales volumes. ...

Construction & Real Estate

Aqualia wins three-year renewal to operate Saudi floating desal plants

Spanish water company Aqualia has secured a three-year contract renewal from National Shipping Company of Saudi Arabia (Bahri) for the operation and maintenance of three floating desalination plants in Yanbu with a combined capacity of 150,000 cu m of drinking water per day. ...

Construction & Real Estate

Saudi Arabia expands road network with 246km Rafha-Hail link

Saudi Arabia has announced the opening of the 246-km Rafha-Hail Road, thus expanding the kingdom's transport network with a new route linking Rafha to Hail through the Hail-Baqaa Road. The road represents a vital artery within the kingdom's interregional road connectivity network. ...

Construction & Real Estate

Saudi construction new orders rise at fastest pace in five months, says report

Saudi construction sector expanded for a third consecutive month in July, driven by stronger infrastructure and residential activity as new orders rose at the fastest pace in five months, according to the latest Saudi Construction Index compiled by leading financial services provider Alrajhi Capital....

Construction & Real Estate

Eight in race for Riyadh’s Quality Valley PPP project

The State Properties General Authority (SPGA) and the National Center for Privatization & PPP (NCP) have announced the qualification of eight companies and consortiums to participate in the tender for the Quality Valley Riyadh Project, a major mixed-use development planned on the headquarters site of the Saudi Standards, Metrology and Quality Organization (SASO) in Riyadh....

Construction & Real Estate

Tarshid completes energy retrofit covering 43 Madinah university buildings

Saudi energy services company Tarshid has completed the second phase of an energy efficiency retrofit project at the Islamic University of Madinah, covering 43 buildings and facilities. It involved upgrades to cooling, AC and lighting systems aimed at improving energy efficiency. ...

Construction & Real Estate

Refad's premium mixed-use project in Al Khobar set for 2029 handover

Work is moving at a steady pace on the Miraf District, a premium mixed-use project being developed by Refad Real Estate Company on a 42,000 sq m area at Al Khobar in the kingdom's Eastern Province, with the project on track for handover in 2029....

Construction & Real Estate

Masah Contracting lands 40-storey Al Khobar residential tower

Saudi-based Masah Contracting Company has announced that it has won the construction deal for Ajdan Infiniti Tower T2, a 40-storey residential development located in Al Khobar in the kingdom's Eastern Province. The entire contract work will be completed within two to three years. ...

Construction & Real Estate

Shaker Group's H1 revenue down 3.4pc on weaker HVAC sales

Shaker Group, a leading manufacturer and distributor of air conditioners and home appliances in Saudi Arabia, has reported SAR743.1 million ($198.2 million) revenue for the first half, down 3.4% from the same period last year, mainly due to a decline in its HVAC solutions business. ...

Construction & Real Estate

Almar lands $940m Aramco Zuluf water treatment expansion deal

Almar Water Solutions, a part of Jameel Environmental Services and a global leader in water infrastructure development and services, has secured a $940 million contract from Saudi oil giant Aramco to expand its Zuluf Water Treatment Project, thus increasing its treatment capacity to 308,000 cu m/day. ...

Construction & Real Estate

Saudi RGA outlines key routes linking Riyadh to Hail heritage sites

The Roads General Authority (RGA) has outlined two main routes linking Riyadh to Hail as part of its efforts to improve access to one of the kingdom's major tourism destinations located in the northwestern region, known for its mountain landscapes and historical sites....

Construction & Real Estate

Hassan Allam-UCC seal contract for Waldorf Astoria Superblock in Diriyah

Hassan Allam, a leading engineering and construction group, said its subsidiary, Hassan Allam Construction Saudi along with its joint venture partner UCC Holding Saudi, has officially signed the contract for Waldorf Astoria Hotel, Residences, & Mixed Use Superblock in Diriyah, Saudi Arabia....

Construction & Real Estate

Saudi-Turkish JV targets major road, bridge projects in Riyadh

Saudi group Mofarreh and Turkey's Gülsan Holding have set up a new joint venture to bid for and deliver major transportation infrastructure projects in Riyadh. The duo will be targeting construction of roads, bridges, viaducts, interchanges and related transport infrastructure....

Construction & Real Estate

Work in full swing on Prince Mohammed stadium at Qiddiya City

Steady progress is being made on the Prince Mohammed Bin Salman Stadium, an architectural and engineering marvel coming up within Qiddiya City, the mega Saudi entertainment, culture and sports project located near Riyadh. With early foundation works under way, the stadium is expected to be completed in 2029. ...

Construction & Real Estate

East Pipes signs deal to acquire material handling equipment

East Pipes Integrated Company for Industry has announced that it had signed agreements with selected suppliers such as Saudi Liebherr and US-based Vaccuworx, a leading provider of vacuum lifting equipment for a number of industries, to acquire strategic material handling assets. ...

Construction & Real Estate

Aramco project Ithra gets Platinum Leed certification

King Abdulaziz Center for World Culture (Ithra), an initiative of Saudi oil giant Aramco, has obtained platinum certification for the Leadership in Energy and Environmental Design (LEED) in the Operations and Maintenance category from the US Green Building Council (USGBC). ...

Construction & Real Estate

Alkhorayef inks Riyadh City sewage network maintenance contract

Saudi-based Alkhorayef Water and Power Technologies Company has signed an agreement with Royal Commission for Riyadh City (RCRC) for the provision of comprehensive operation and maintenance of treated sewage effluent (TSE) network and it facilities in the Saudi capital....

Construction & Real Estate

Knowledge Economic City in deal to develop $359m mixed-use project

Knowledge Economic City (KEC) has signed an agreement with Saudi group Alrashid Properties to develop a premium mixed-use project - the Multaqa Residences - in Madinah on a 149,520 sq m area. The SAR1.35 billion ($359 million) project will boast branded residences as well as retail and hospitality assets. ...

Construction & Real Estate

Cenomi Centers boosts funding for landmark Riyadh lifestyle project

Saudi-based Cenomi Centers has announced that the developer of its Westfield Riyadh project had secured SAR2.7 billion ($720 million) in finance from Riyad Bank which it will use to fund the lifestyle development's remaining construction costs, including a VIP lounge, a luxury retail wing and tenant fit-out support....

Construction & Real Estate

Italian group Danieli wins Saudi steel billet production plant contract

Saudi-based Al Yamamah Steel Industries Company has announced that its reinforcing steel bars unit has awarded a major contract to Italian engineering and manufacturing corporation Danieli for setting up a steel billet production plant within its premises in the kingdom by 2029. ...

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