ARDARA and Sumou Holding have signed an MoU to jointly develop mixed-use urban communities in future phases of ..Read More

ARDARA and Sumou Holding have signed an MoU to jointly develop mixed-use urban communities in future phases of AlWadi, a 2.5 million sqm sustainable development in Aseer, Saudi Arabia. AlWadi will dedicate over 30% of its area to green spaces, feature 16 km of waterfront, 17 km of sport trails, and five distinct districts. Phase one, to be delivered in three years, includes 2,000 residential units, luxury hotels, and commercial and business spaces.
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• Construction

Rua Al Madinah Holding, a PIF company, signed a masterplan design contract with DLR Group Middle East for the ..Read More

Rua Al Madinah Holding, a PIF company, signed a masterplan design contract with DLR Group Middle East for the Dar Al Hijra project in Madinah, Saudi Arabia. Spanning nearly 1 million sqm, the mixed-use urban development will include residential units, commercial spaces, educational institutions, and healthcare facilities. The project aligns with Saudi Vision 2030 and has already seen over 50% progress on ongoing constructions covering 168,000 sqm. Rua Al Madinah was also awarded the Local Content Excellence Award for mega projects.
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• Construction

Egis has been appointed as the Package Administration and Supervision Consultant (PASC) for Phase 1 infrastruc ..Read More

Egis has been appointed as the Package Administration and Supervision Consultant (PASC) for Phase 1 infrastructure works at Riyadh Integrated, a key logistics hub near King Khalid International Airport, operated by SILZ Company. The scope includes roads, utilities, landscaping, and utility buildings, aligning with Saudi Vision 2030 to position the Kingdom as a global logistics leader. Egis will ensure long-term scalability and sustainable infrastructure delivery.
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• Construction

ADNOC Drilling, UAE, secured a $1.15 billion 15-year contract for two advanced jack-up rigs to support ADNOC O ..Read More

ADNOC Drilling, UAE, secured a $1.15 billion 15-year contract for two advanced jack-up rigs to support ADNOC Offshore’s growing operations, with rigs prepared at Sharjah’s Lamprell shipyard. Equipped with AI, digitalization, and real-time analytics, these rigs will enhance efficiency and safety, starting operations in the second half of 2025. This long-term deal strengthens ADNOC Drilling’s revenue visibility and supports the UAE’s energy strategy and economic development.
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• Oil & Gas

Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) and Mahdah Development Company (an Om ..Read More

Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) and Mahdah Development Company (an Omani-UAE partnership led by DP World) signed a 50-year agreement to develop the first phase of the Al Rawdha Special Economic Zone in Mahdah, Al Buraimi. Spanning 14 sq km initially (expandable to 25 sq km), the zone will focus on sectors like manufacturing, logistics, pharmaceuticals, mining, and food industries. It will benefit from incentives like 100% foreign ownership, customs exemptions, and one-stop-shop services. First-phase investments are estimated at $2 billion, and construction starts next week.
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• Construction
• Manufacturing

The Governments of Saudi Arabia and Kuwait announced a new oil discovery at the North Wafra Wara-Burgan field, ..Read More

The Governments of Saudi Arabia and Kuwait announced a new oil discovery at the North Wafra Wara-Burgan field, located 5 km north of the Wafra field. The Wara-Burgan-1 well produced over 500 barrels per day with an API gravity of 26-27 degrees. This is the first discovery since production resumed in the Partitioned Zone in mid-2020, strengthening both countries’ roles as reliable global energy suppliers.
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• Oil & Gas

NesmaKent Energy Company (NKJV), a joint venture between Nesma & Partners and Kent, signed a strategic contrac ..Read More

NesmaKent Energy Company (NKJV), a joint venture between Nesma & Partners and Kent, signed a strategic contract with Aramco to lead phase one of the National EPC Champion Initiative, focusing on water handling facility upgrades in South Ghawar. The project supports Saudi Arabia’s MSC crude oil targets and emphasizes operational excellence, workforce development, advanced technologies, and sustainability aligned with Vision 2030. NesmaKent’s role strengthens local supply chains and the Kingdom’s energy infrastructure leadership.
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• Oil & Gas

Oman’s Ministry of Heritage and Tourism has signed three usufruct contracts worth over OMR 56 million to dev ..Read More

Oman’s Ministry of Heritage and Tourism has signed three usufruct contracts worth over OMR 56 million to develop major tourism projects aimed at boosting the country's travel and leisure sector. The first project, in Wadi Al Shab (Sur), is in collaboration with OMRAN Group and will feature an adventure park with zip lines, hiking trails, swimming areas, and cafés. The second project, Sandan – Khasab Pearl in Khasab, is being developed with Khasab Development & Investment Company and includes a 4-star hotel with 200 rooms and 450 residential units. The third initiative, Hamyan Village in Nakhl, is a partnership with Hamyan Investment & Project Development Company, and will include a 4-star hotel with 156 rooms, 535 residential units, a traditional market, and a water park. These projects are aligned with Oman’s strategy to promote tourism and are open to foreign ownership.
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• Construction
• Tourism