Saudi Focus

Leading US engineering company Bechtel has signed a five-year contract extension with the Royal Commission for Jubail and Yanbu to continue its longstanding management services work at Jubail and Ras Al Khair industrial cities.

The Saudi government is working on an ambitious plan to provide housing to 52 per cent of its citizens under the National Transformation Programme 2020 (NTP) within the next four years, said a report.

Cayan Group, a leading property developer in the Middle East, said its mixed-use commercial tower project in Riyadh is nearing completion. The 14-storey CMC Tower, located on King Fahad Road, is being built at a cost of SR100 million ($26.6 million).

ArRiyadh Development Authority (ADA) has announced the successful completion of tunnel excavation works for Line Five (Green Line) of the Riyadh Metro project. Line Five is one of the three rail lines being constructed by Fast consortium, led by Spanish construction giant FCC.

The National Transformation Programme (NTP), a key part of a blueprint to prepare Saudi Arabia for the post-oil era, and Saudi Vision 2030 will provide great stimulus to the commercial, industrial and construction sectors of the kingdom, according to Ahmed Kawther, chief executive and managing director of Saudi Building Materials Company (SBMC).

Golden Tuna to build facility at KAEC King Abdullah Economic City (KAEC), a special economic zone in Saudi Arabia, has leased a plot of land to Venezuela-based Golden Tuna to build its first tuna production facility in Saudi Arabia.

About 90 per cent of the work on the multi-billion-riyal Haramain High-Speed Rail project has been completed, including the world’s widest overpass at about 70m wide, said a report. One of the biggest projects in the region, the Haramain rail will connect the Saudi cities of Jeddah, Makkah and Madinah.

Saudi Arabia’s cabinet has approved a tax on undeveloped urban land and rules allowing foreign investors to own 100 per cent of retail and wholesale businesses, the official Saudi Press Agency (SPA) said. The 2.