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Saudi Arabia Alula

Saudi Crown Prince launches master development plan for AlUla

It will be implemented in three phases until 2035, with the first phase set to be completed by 2023

Construction of roads to the new Al Khail Avenue Mall to be completed soon – Dubai’s RTA

The roads and bridges leading to the mall will complete construction by the end of the first half of 2021

Arabtec Holding

Arabtec confirms filing for bankruptcy in Dubai Court

The bankruptcy judge decided to appoint a panel consisting of seven experts to examine the application

Trump’s Dubai golf expansion gets delayed until at least 2022

The 18-hole course designed by Tiger Woods is reportedly facing another delay

Work progresses on One Za’abeel project in Dubai with Tower B topped out

The One Za’abeel project includes two towers and ‘The Link’ – claimed to be the world’s longest cantilevered structure

Dubai-Al Ain Rod

Dubai-Al Ain: Dhs2bn road improvement project reaches 60% completion mark

Upon completion, it will double the road’s capacity from 6,000 to 12,000 vehicles per hour per direction

UAE’s Ministry of Energy and Infrastructure

UAE Ministry of Energy and Infrastructure implements projects worth Dhs11.8bn

The ministry said that it is implementing 129 development projects as part of a five-year plan

Aerial View of Coral Bloom Concept

In pics: Saudi’s Red Sea project unveils ‘Coral Bloom’ design for gateway island

Upon completion in 2030, the Red Sea project will comprise 50 resorts, offering up to 8,000 hotel rooms

UAE-BUSINESS- Arabtec

CEO of Dubai contractor Arabtec resigns amidst its ongoing liquidation

Wail Farsakh was appointed to the role in April 2020

Proceedings begin in Amman court against former Drake & Scull CEO Khaldoun Al Tabari

The public prosecutor in Amman has filed an indictment against Al Tabari, his daughter Zeina Khaldoun Al Tabari, and Saleh Mustafa Muradweij on several charges

In pics: Abu Dhabi’s Al Qana project, featuring region’s largest aquarium, now 90% complete

Spread across 2.4km, the waterfront destination is expected to open this year

Dubai Holding’s ‘Madinat Jumeirah Living’ project slated for 2021 handover

Phase I and 2 of the residential development are 98 per cent sold out

Dubai contractor Arabtec to file for liquidation at ‘earliest opportunity’

The decision reversed efforts sought by a minority group of shareholders to restructure and save the company from liquidation

AquaChemie Middle East

AquaChemie begins construction on $40m petrochemical terminal at Jebel Ali Port in Dubai

The specialised bulk storage terminal will have a total capacity of around 40,000 cubic metres

UAE’s Danube Group reimburses salary cuts made during Covid-19

Earlier this year, Danube Group distributed Dhs1m worth of food kits across the UAE

Saudi Binladin considers joint ventures and asset sales amid revamp

The company has put thousands of employees on indefinite leave in recent months

Sheikh Mohammed bin Rashid Al Maktoum Dubai

Sheikh Mohammed reviews Dhs6.6bn upcoming environmental sustainability projects in Dubai

It includes the construction of a Dhs4bn Dubai Centre for Waste Processing and a Dhs2bn Green Dubai Park Project

Sheikh Mohamed bin Zayed Al Nahyan

Sheikh Mohamed orders six-month rent waiver for businesses on Al Hudariyat Island in Abu Dhabi

He instructed officials to open the entertainment and leisure project to the public within 30 days

Samana Developers’ projects worth Dhs185m sold out in Dubai

The two residential projects include 327 studios, one, two-bedroom apartments and six retail outlets

Dubai’s Damac Properties awards contract for Zada project

The contract worth Dhs181m was awarded to Trans Emirates Contracting to begin main work on Zada

Saudi’s Amaala awards design and build contract of Construction Village to Tamimi Global

The development of the village will employ off-site fabrication and modular construction techniques, in line with Amaala’s sustainability goals

Saudi launches Al Nawras development project in Jeddah

The project is part of Saudi Vision 2030

Saudi Arabia Riyadh

Saudi Arabia scraps VAT for property deals

However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT

Arabtec

Burj Khalifa builder Arabtec set to fall into liquidation

It was valued at about Dhs30bn at its peak in 2014 and is now worth Dhs795m

Dubai Museum of the Future

Video: Sheikh Mohammed visits Dubai’s Museum of the Future

The façade of the complex includes 1,024 panels built using robotic technology

Arabtec

Dubai’s Arabtec to file for liquidation – reports

It recorded an H1 2020 loss of Dhs794m

Consulting firm AECOM bags infrastructure design project for Saudi’s NEOM

AECOM will leverage its digital capabilities to deliver the services and enable collaboration across global teams

Saudi’s Marafiq gets $280m to build Jeddah sewage treatment plant

Marafiq’s shareholders include the Public Investment Fund, Saudi Arabian Oil Co. and Saudi Basic Industries Corp

ADNOC Jebel Dhanna Abu Dhabi

ADNOC awards $245m contracts to upgrade Jebel Dhanna terminal in Abu Dhabi

Over 50 per cent of the total award value will flow back into the UAE’s economy under ADNOC’s In-Country Value programme

Majid Al Futtaim Elan Tilal Al Ghaf

Phase III of Majid Al Futtaim’s Elan neighbourhood in Dubai sells out in 48 hours

Construction on the Elan neighbourhood began in July this year