KSA’s Alakaria announces agreement with AlJazira Bank for $109mn for purchase of key plot of land in AlMarjan

Banking facilities will be used to finance a part of the land’s purchase . Saudi Real Estate Company (Alakaria) has announced that...

Saudi Arabia launches Boutique Group to convert historic and cultural palaces into ultra-luxury hotels

New hospitality brand part of PIF plans to unlock capabilities of promising sectors in Saudi Arabia. His Royal Highness Prince Mohammed bin...

The Red Sea Development Company financially closes on $3.7 billion loan

Facilities now available to fund the development of Phase 1 of The Red Sea Project. The Red Sea Development Company (TRSDC), the...

PIF signs MoU with South Korea’s POSCO and Samsung C&T for green hydrogen production project

MoU aims to develop a green hydrogen production project for export in the Kingdom. Saudi Arabia’s Public Investment Fund (PIF) and South...

Kuwait announces plans for new airport

Earlier, the Municipal Committee Council of the Jahra Governorate is coordinating with the Directorate- General of Civil Aviation (DGCA) on allocation of...

Investcorp acquires Resa Power

US-based firm provides mission-critical engineering, testing and maintenance services for electrical infrastructure. Investcorp, the Bahrain-based global alternative investment firm, has announced its...

SWPC issues RFQs for development of two ISTPs in Saudi Arabia

Total capacity of plants will be 150,000 cu m per day. Saudi Water Partnerships Company (SWPC) has issued a request for qualifications...

Magic Kingdom – The outlook for Saudi Arabian construction

David Clifton of Hill International takes an in-depth, exclusive look at the Kingdom’s construction industry for 2022 as it looks to deliver...

Alpha Dhabi Holding buys 25% stake in Al Qudra Holding

Acquisition part of sustainable growth strategy, says Alpha Dhabi Holding. Alpha Dhabi Holding, a UAE-based conglomerate and investment company, has announced the...

Vinci completes $5.5bn acquisition of ACS’s energy business

Acquisition covers most of the contracting business of the ACS Industrial Services division. Vinci, a global player in concessions, construction and energy...