Regional News

Construction work on Omagine, a $2.5-billion mixed-use tourism and real estate project to be developed on a 1-million-sq-m beachfront area in Oman, will begin next year and is due for completion by 2024.

Kuwait’s projects market continued to expand in the second quarter of this year in spite of low oil prices and the state is expected to award another KD8.4 billion ($27 billion) worth of contracts before year-end. The country awarded KD812 million ($2.

Qatar will construct two buildings designed by late Iraqi-British architect Zaha Hadid, including a tower shaped like a desert flower close to the site of the 2022 Fifa World Cup final, a member of its ruling family said.

Egypt-based Jumeirah Real Estate Investment & General Trading Company and Sakan Developments are to build a major mixed-use waterfront project in the heart of Ras El Hekma bay on the North Coast at a cost of E£15 billion ($1.68 billion).

The recent decision by the Bahraini government to allow foreigner investors 100 per cent ownership in various sectors of the market is likely to have a positive long-term impact on the kingdom’s property markets, according to leading international real estate consultants Cluttons.

Salini Impregilo, an Italian specialist in the construction and civil engineering business, has signed a $955-million contract with the Kuwait government to develop an urban residential development in the capital city.

Iran is planning its first tender for utility-scale renewable energy projects by the year end as it begins a green power buildout that could draw $12 billion of investment by the time it’s complete. The nation wants to install 5 gigawatts of renewable energy in the next five years and an additional 2.

Egypt’s National Authority for Tunnels (NAT) has assigned the rail work for Cairo’s Metro Line Three to the ETF-ORC-TSO association, a report said. This came after NAT accepted the financial bid of EGP762 million ($85.

Agility eyes investment in Kharafi Kuwait’s Agility said it was in preliminary talks about potentially investing into construction firm Kharafi National. Agility, the Gulf’s largest logistics firm, was reviewing all possible investment opportunities in the Kuwaiti company, it said.

A total of 154,576 rooms in 550 hotels were registered under contract in the Middle East in June, a 23.5 per cent increase compared with the same period in 2015, said a report. According to the STR June 2016 Pipeline Report, the Middle East also recorded a 14.

Kuwait’s government has allocated land to Jazeera Airways for the construction of a dedicated passenger terminal and car-park buildings at Kuwait International Airport. One of the leading low-cost carriers in the Middle East, Jazeera Airways said the total investment in the project is likely to top KD14 million ($46.

Work on the Zallaq Harbour project in Bahrain is progressing well with several of the key development phases completed as per schedule. The harbour has the capacity to accommodate 112 boats, each 10 m long. Also, the facility boasts 56 retail stores for sailing equipment, a shaded yard to fix and maintain boats tools and a parking lot.

Property investment firm Al Khonji Real Estate and Development (Aqar) has inked deals for the lease of land in Oman’s Duqm Special Economic Zone for the construction of a mixed-use development at an investment of RO390 million ($1.09 billion), said a report.

A number of regional and international firms are competing for a contract award linked to the establishment of a major nitrogen gas plant to serve the needs of the giant Liwa Plastics Industries Complex (LPIC) currently under development in Sohar, Oman. The $6.

Plans are under way to build Bahrain’s biggest integrated sports stadium featuring a football pitch, an underground shopping complex and cineplex.

SNC-Lavalin, a leading engineering and construction group, said it has been awarded an engineering consultancy and support services contract by Oryx GTL, a joint venture between Qatar Petroleum and Sasol of South Africa, for its gas-to-liquids complex at Ras Laffan Industrial City in Qatar.

Penspen, a global provider of engineering and management services to energy firms, said its joint venture with Lebanese project design and consultancy group Dar Al Handasah, has been awarded a major project management contract by Kuwait Gulf Oil Company (KGOC).

Oman Tourism Development Company (Omran), the master developer of major tourism, heritage and mixed-use projects in Oman, is on track to deliver three new hotels in Muscat, providing more than 900 additional rooms in 2017/18.

Hill International, a global leader in managing construction risk, said it has won a contract from Health Assurance Hospitals Company (Dhaman) to manage the construction of two new hospitals in Kuwait.