Transport Dubai undertakes study for trackless tram Dubai’s Roads and Transport Authority (RTA) will undertake a study to deploy trackless tram systems at eight locations across the city as part of its Dubai Tram network expansion. The self-driving tram system will operate on virtual tracks, using camera-guided painted lines on dedicated lanes, the UAE state-run Wam news agency reported. Powered by electricity, […] November 4, 2024
Analysis Transport UAE hyperloop stalls, but ‘magnetic levitation’ hopes remain The UAE’s dream of transporting people and goods at high speeds using hyperloop technology may have stalled, but elements of the idea remain very much alive. The hyperloop transport system, in which people and goods are intended to travel at more than 1,200km/h in magnetically levitated pods through giant low-pressure vacuum tubes, has been plagued […] November 3, 2024
Infrastructure Driverless monorail planned for Riyadh’s financial district An agreement to launch a driverless monorail project has been signed by King Abdullah Financial District (KAFD) in the Saudi capital Riyadh. The 3.6-kilometre system will have six trains travelling on an elevated circular track that will wind between the main towers of the district. The system will have six stations across the district, connecting […] November 1, 2024
Infrastructure Middle East, not the West, should lead rebuilding, say experts Rebuilding Palestine and Lebanon will take upwards of a decade once the conflict between Israel and Hamas and Iran-backed Hezbollah ends, according to the International Monetary Fund. But the two countries should be assisted by Middle East neighbours and not left in the hands of Western superpowers, say experts. The United Nations Development Programme’s initial […] November 1, 2024
Giga-projects Diriyah delays completion date as projects vie for funds The historical district of Diriyah, one of Saudi Arabia’s major giga-projects, will be completed in time for the World Expo in 2030 – three years later than previously announced, its CEO Jerry Inzerillo said on Wednesday. The giga-projects, valued in total at more than $1.25 trillion, are competing for government and private sector resources amid […] October 31, 2024
Analysis Giga-projects The remaking of Riyadh ahead of World Expo 2030 Expo 2030 is already propelling real estate development in Riyadh six years before the international fair is scheduled to take place – and, along with other giga-projects, is helping to shift the city’s core to the north. The World Expo, which typically takes place in a different city every five years, is expected to occupy […] October 31, 2024
Real Estate Emaar’s Alabbar eyes major investment in Madagascar Emaar founder Mohamed Alabbar is planning a major investment in Madagascar, marking the island nation as his next big venture. “Madagascar is the next new thing in my life,” Alabbar said at the Future Investment Initiative in Riyadh on Tuesday. “It’s going to be a very big investment,” he said, but did not provide further […] October 30, 2024
Giga-projects Neom raises $24 billion from the private sector The Saudi giga-project Neom has secured SAR60 billion ($16 billion) in private sector funding and SAR30 billion ($8 billion) in loans as it tries to move away from reliance on government cash. The revelation was made by deputy CEO Rayan Fayez to the Future Investment Initiative forum in Riyadh on Wednesday. Fayez said: “What we’ve […] October 30, 2024
Opinion Logistics A new dawn for logistics as the GCC and India draw closer For both parties to benefit, investment in transport infrastructure is needed October 30, 2024
Real Estate Adnec adds Business Design Centre to London portfolio Adnec Group has expanded its UK portfolio with the acquisition of the Business Design Centre in London. The historic building, which dates back to 1862 when it was the Royal Agricultural Hall, is a 4.5-acre Grade II listed venue that hosts events, awards and product launches. The North London venue is the location for long-standing […] October 30, 2024
Economy Surplus of $8bn predicted in latest Dubai budget cycle A record surplus of AED30 billion ($8.16 billion) is being predicted by Dubai in its latest three-year budget. The emirate’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, has approved the 2025-27 budget cycle, which includes AED272 billion in expenditure, against estimated revenues of AED302 billion. For the 2025 fiscal year, expenditure has been set at […] October 30, 2024
Construction Aldar Properties reports ‘strong pickup’ for London projects Aldar Properties remains bullish about London’s property market despite high interest rates and fears that tax rises will be announced in the UK budget on Wednesday. The government-owned Abu Dhabi company bought British developer London Square in a deal worth AED1.07 billion ($291 million) last year – its first acquisition outside the Middle East and […] October 29, 2024
Infrastructure Tender for first phase of Oman industrial city issued A tender for the first phase of the Al Mudhaibi Industrial City project in North Al Sharqiyah governorate has been issued by Oman’s Public Establishment for Industrial Estates (Madayn). The tender, aimed at specialised companies in Oman and Saudi Arabia, covers the development of around 2.5 square kilometres of basic services. This includes road networks, […] October 28, 2024
Infrastructure Adia-backed platform to invest in more Indonesia toll roads A road toll platform backed by a wholly owned subsidiary of Abu Dhabi Investment Authority (Adia) has invested in a new section of the Trans Sumatra Toll Road that is being built across the island of Sumatra in western Indonesia. Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), announced on Monday that its toll road platform […] October 28, 2024
Analysis Construction ‘Green’ cement falling short of meeting climate goals Construction has become as much a part of the Gulf landscape as the desert. But it is also one of the major contributors to carbon dioxide emissions, a key driver of climate change. GCC governments and developers, particularly in the UAE and Saudi Arabia, are pushing to find alternatives to traditional concrete and its basic […] October 25, 2024
Analysis Giga-projects Saudi Arabia pins branding hopes on Riyadh Air launch Saudi Arabia still hasn’t found the magic sauce for branding its social and economic reforms. Hopes are high that the launch of Riyadh Air will do for the kingdom what Emirates airline did for Dubai, industry experts say. “We saw the journey of the UAE, how brands started there then became iconic on a global […] October 25, 2024
Real Estate Dubai’s bellwether Emaar to report Q3 profit rise Dubai’s Emaar Properties, bellwether of the emirate’s bourse, and its real estate development subsidiary, are likely to report sizeable increases in third-quarter profits versus the preceding three months as margins expand and under-construction projects reach revenue recognition thresholds. Emaar Properties owns 79 percent of Emaar Development and also has hospitality and retail divisions. It is […] October 24, 2024
Video length: 03:31 Video Construction Egypt’s weaker currency attracting foreign real estate investors Egypt’s economic recovery and currency devaluation has resulted in the “rediscovery of the real estate market by foreign investors”, according to the chief of the country’s largest waterfront developer, fuelling price rises in the secondary and tertiary segments. Population growth in the Arab world’s biggest country, and wealth creation in some socioeconomic segments, have also […] October 24, 2024
Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024
Opinion Trade UAE believes trade with Africa is worth the risk Investments by Emirati companies are being encouraged and supported by the government October 22, 2024
Analysis Construction UAE warehousing attracts new institutional investors A lack of suitable warehousing across Dubai and Abu Dhabi is providing opportunity for institutional investors to get into industrial real estate. Non-industrial developers are also poised to take advantage of the gap. Strong demand for facilities in ecommerce and logistics, and the expansion of oil and gas companies in Abu Dhabi in particular, has led […] October 21, 2024
Giga-projects PIF launches company to build worker accommodation Saudi Arabia’s Public Investment Fund (PIF) has established a company to develop and operate accommodation for workers employed on major projects in the kingdom. Smart Accommodation for Residential Complexes Company (Sarcc) will build workers’ accommodation for both public and private sector developers who are working on projects across the country. Sarcc will also seek opportunities […] October 21, 2024
