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Construction

Construction news, real estate, property, and infrastructure news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis on the construction market.

The still-developing Lusail district in Doha. Real-estate sales in Qatar fell 15% between June and September year on year

Qatar’s real-estate buyers wait on lower interest rates

Consumer expectations that interest rates will continue decreasing in the coming months appear to have dented Qatar’s residential real-estate market growth in the third quarter of this year. Mortgage transactions fell 10 percent in Qatar from July to September over the previous three months, and 8.5 percent over the same period last year, according to […]

Egypt and Qatar have discussed investments in the ports, logistics and manufacturing sectors, said prime minister Mostafa Madbouly

Egypt and Qatar to explore ‘major’ real-estate project

Egypt will collaborate with Qatar on a “major real estate project” in the North Coast region, prime minister Mostafa Madbouly said. The Gulf country has sought investment opportunities in the tourism and hospitality sectors, local media reported, citing the prime minister, who met his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani in Egypt. No other […]

Since last year a new framework has supported foreign law firms’ creation of joint ventures with local counterparts, through acquisitions or Saudi subsidiaries

Rise in major US law firms setting up in Saudi Arabia

Attracted by the host of complex and potentially lucrative legal issues raised by Saudi Arabia’s development push, several of the largest law firms in the US are formally setting up shop in the kingdom, either directly or through mergers and acquisitions. Among those making the leap is Atlanta-based company King & Spalding. A spokesperson confirmed […]

Unlisted developers, whether government or privately owned, build about 70% of residential properties in Saudi Arabia

Why Saudi real estate stocks are less popular than you might think

Most developers are unlisted Land ownership is fragmented Dubai-style compounds not popular Saudi Arabia has rising property prices, soaring homeownership rates and steady mortgage approvals – so you might think its real estate sector w... Register now: It’s easy and free This content is available for registered members only. Register for your free account today […]

Crown Prince Mohammed bin Salman said the positive economic indicators were due to the ongoing Vision 2030 reforms

Saudi Arabia forecasts 2025 fiscal deficit of $27bn

Saudi Arabia has approved its 2025 state budget, which estimates total revenues at SAR1.18 trillion ($314 billion) and expenditures at SAR1.28 trillion – resulting in a fiscal deficit of SAR101 billion ($26.9 billion). The finance ministry said this would represent 2.3 percent of gross domestic product, which is lower than the 3 percent of GDP […]

Employees outside Samsung C&T headquarters in Seoul, Korea; the company has won the contract to build a gas-fired power plant near Doha

Qatar awards $2.8bn contract for Doha desalination plant

Qatar Electricity and Water Authority (Kahramaa) has awarded Samsung C&T Construction Group a $2.84 billion contract to build a combined-cycle power plant in Doha.  The gas-fired power plant, Facility E, will produce up to 2,400 megawatts of electricity and 500,000 tons of desalinated water per day. When completed in 2029, the plant will account for […]

A green ammonia plant under construction in Norway. Poland's Hynfra plans to build plants in Egypt and Jordan

Poland’s Hynfra to build green ammonia plant in Egypt

Egypt’s General Authority for Investment and Free Zones is linking up with Polish energy company Hynfra to build a green ammonia plant. The facility will produce ammonia for export from Egypt to the European Union, the GAFI and Hynfra said in a joint statement. It will require an investment of $1.6 billion in its first […]

GFH's student housing assets in the United States are 99 percent occupied

Bahrain’s GFH buys $300m US student housing assets

GFH Partners, the DIFC-based asset management arm of Bahrain-based GFH Financial Group, has acquired student housing in the United States valued at $300 million. The assets have been added to GFH Partners’ US student housing platform, which now has more than 5,500 beds and assets under management worth $900 million. The assets are 99 percent […]

ANAX Developments to add $1bn to Dubai’s real estate sector 

Dubai’s ANAX Developments plans to build more than 2,000 homes in Dubai and contribute $1 billion to the emirate’s real estate market in a pipeline of new projects. This includes developments in Al Furjan, Meydan and Dubai Islands. Apartments at Evora Residences in Dubai’s Al Furjan neighbourhood are scheduled for completion by the third quarter […]

In association with
Medina Station, Saudi Arabia: Saleh Al Jasser, minister of transport announced the launch of the Asasat Programme, to increase Saudi participation in the rail sector

Saudi railway network to reach 8,000km, says minister

Saudi Arabia will look to expand its railway network by around 45 percent in the coming years, the transport minister told a conference in Riyadh.  “The kingdom is set to experience unprecedented growth in its rail network, expanding to over 8,000km in the coming years,” Saleh Al Jasser, minister of transport and Saudi Arabia Railways […]

The Dubai Marina promenade. The emirate's constant population growth and stable economy attracts Turkish property investors

Turks drawn to overseas property investments

Turkish property investors are increasingly looking further afield as they seek real-estate opportunities.  High interest rates and cooling returns on assets at home make the domestic market less appealing both to Turks and foreigners. While Turkey remains a property investment destination, with a net positive balance of capital movement, inflows are tapering off just as […]

Egypt PPP tenders Abu Rawash wate water plant

Public-private tenders worth $1bn on offer in Egypt

Eleven tenders worth more than $1.2 billion for public-private partnerships (PPPs), mainly involving water and waste water treatment, are about to be issued by the Egyptian government. Atter Hannoura, director of the PPP Central Unit at the Egyptian finance ministry, said that the total value of PPP agreements to be tendered is about EGP62 billion […]

Drake & Scull Louvre Abu Dhabi

Former Drake & Scull CEO returns to lead growth plans

Construction engineering company Drake & Scull International (DSI) has reappointed a former CEO to lead it. The company said it is entering “a new chapter of growth and development” following its debt restructuring earlier this year. Muin Al Saleh, who was CEO between 2017 and 2019, returns to the Dubai contractor in the same position.  […]

Adani Group's Gautam Adani has been accused of bribery payments to Indian government officials, something the group strongly denies

US charges billionaire Gautam Adani in $265m bribery case

US prosecutors have indicted Indian billionaire Gautam Adani and seven others, including his nephew Sagar Adani, in connection with an alleged $265 million bribery scheme tied to India’s largest solar power project. Adani has extensive business interests in the Arabian Gulf. The indictment, unsealed in New York on Wednesday, accuses the Adanis and Vneet Jaain, […]

Experts say private sector involvement in the construction sector is likely to grow further in coming years

Private money leading charge in Saudi construction industry

Private sector participation in Saudi Arabia’s construction industry is powering investment in the sector, according to a senior economist. Overall gross fixed capital formation – a measure of investment in an economy’s infrastructure, schools and other physical assets, as well as related tools and machinery – is up 3 percent year on year in the […]

Diriyah Company CEO Jerry Inzerillo said that Diriyah will once more become "a gathering place for the world"

Saudi’s Diriyah adds cultural districts to $63bn plan

Diriyah Company, backed by Saudi Arabia’s Public Investment Fund, has started construction on multi-billion dollar educational and arts districts in the $63.2 billion giga-project. Spanning an area of 14 sq km, the “world’s biggest urban development projects” will house the Qurain Cultural District and Northern District. The Qurain Cultural District will include a range of arts, […]

Bahrain airport city

Bahrain to tender for ‘airport city’ in early 2025

Bahrain will issue tenders early next year to build a new “airport city” based around the existing Bahrain International Airport. The project will include commercial and residential development, according to Mohamed Yousif AlBinfalah, CEO of Bahrain Airport Company. “We have a significant amount of space that will be coming to the market soon for development,” […]

The new line will add nine million metric standard cubic meters per day to OQGN’s northern gas network capacity

Oman’s OQGN to expand network as demand grows

State-owned OQ Gas Networks (OQGN), the pipeline subsidiary of Oman energy major OQ, is enhancing its gas network capacity as part of a major infrastructure expansion strategy. A new 193km loop line from Fahud to Sohar, described as “one of the largest ever”, will be constructed to address rising energy needs in the Suhar and […]