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Source: ME Construction News
AMAALA Residences, Red Sea Global’s (RSG) property brand for its residential portfolio at AMAALA, has unveiled the first homes available for purchase at the destination. The collection of wellness and lifestyle communities, along with a five-bedroom villa nestled on its own private island, offers a luxury living experience with contemporary design with the region’s natural landscapes, said a statement from RSG.
Each property is said to be crafted to maximise panoramic views and connection with the surrounding environment. These homes provide not only a tranquil retreat but also a distinctive opportunity to live in one of the world’s most coveted and emerging destinations, which launches later this year with the first resorts opening at Triple Bay AMAALA, the company added.
John Pagano, Group CEO at Red Sea Global said, “Saudi Arabia is becoming a place that more and more people are proud to call ‘home’. Nestled between the Hijaz mountains and azure shores of the north-western coast of Saudi Arabia, AMAALA offers a new luxury wellness community that is setting the global standard for holistic living. Residents will enjoy the use of the AMAALA Yacht Club and state-of-the-art marina, championship golf courses, elite wellness, fine dining, high-end retail, and premium healthcare all while retaining exclusivity, privacy and peace of mind.”
Clinique La Prairie Residences, designed by architect John Heah, offers 13 homes, these are the first residences available for purchase from the Swiss longevity clinic. Nammos has introduced Nammos Residences, which features 20 luxurious apartments and penthouses ranging from one- to three-bedrooms.
Also listed on the open market are the Rosewood Residences, 26 crafted three- to five-bedroom villas designed by Italian architects Antonio Citterio and Patricia Viel (ACPV). The Andar Club Residences, part of the AMAALA collection of properties, are also available. These villas offer three- to six-bedrooms and are set around a nine-hole, signature golf course, the company said.
According to RSG, AMAALA offers a comprehensive range of world-class amenities designed to enhance the wellness, lifestyle, and experiences of its residents. At the heart of the community lies the Marina Village, a lively hub of restaurants, luxury boutiques, and retail outlets, providing a curated selection of dining, shopping, and entertainment experiences for all tastes and preferences.
AMAALA’s marina is fully serviced and can host more than 50 superyachts with berths for vessels up to 120m in length. One of the perks of being a resident at AMAALA is having priority access to rent one of the sought-after berths. Two of AMAALA’s signature attractions are also located at the marina: Corallium, Marine Life Institute, which promises to become a global center for ocean conservation, education and entertainment; as well as the AMAALA Yacht Club, which is set to become an international hub for luxury yachting, RSG explained.
AMAALA Residences is said to be a key component of RSG’s expanding real estate portfolio. In January, RSG unveiled its first residential properties at the Red Sea destination under the brand name Red Sea Residences. In April, they announced Laheq Island, their first development focused on property ownership.
Both The Red Sea and AMAALA are powered by 100% renewable energy, including the residences. Beyond sustainability, these destinations aim to have a regenerative impact on the environment. By 2040, RSG has set a goal of achieving a 30% net conservation benefit for local ecosystems. This will be achieved by enhancing biologically diverse habitats such as mangroves, seagrass, corals, and land vegetation, thereby promoting biodiversity while contributing to carbon sequestration, the developer said.
AMAALA is expected to welcome its inaugural guests later this year with a vision of becoming a comprehensive health and wellness destination. Spanning over 1,400 hotel rooms across eight luxury resorts, AMAALA will welcome wellness operators globally. It will offer a diverse range of programs tailored to cater to various lifestyles and well-being needs. The Red Sea, which has been welcoming guests since 2023, currently boasts six hotels. RSG said that it is on track to complete all 16 hotels that comprise Phase One of The Red Sea within the next few months.
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Source: ME Construction News
UAE-based Saif Bin Darwish has announced its acquisition of Gulf Precast, which is said to be the country’s largest manufacturer of precast concrete.
This acquisition represents a significant strategic move that allows for the integration of Saif Bin Darwish’s extensive expertise in road, bridge, airport, and tunnel projects with the advanced manufacturing capabilities of Gulf Precast. This synergy enhances their combined potential to execute larger, more sophisticated projects with high efficiency and quality, said a statement.
Since its establishment in 1982, Gulf Precast has operated six factories across Dubai and Abu Dhabi with a production capacity of up to 1,500cu/m per day. The company has contributed to the completion of numerous residential, commercial, and infrastructure projects within the UAE and abroad, achieving a distinguished record of awards and recognition.
With this move, Saif Bin Darwish reaffirms its continued commitment to supporting the UAE’s long-term vision for sustainable infrastructure development and solidifying its position in the region’s construction sector, the firm said.
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AD Ports Group has entered into a land sale agreement with Mira Developments. The agreement aims to develop one of the largest mixed-use communities in the Al Mamoura district of Abu Dhabi. The land, part of the group’s 16sqkm Town Centre Area, is located along the Dubai Abu Dhabi highway.
The strategic agreement, valued at US $672mn, will lead to the development of a large-scale, fully integrated community over the next decade. Construction is scheduled to commence within 12 months, with completion expected within 10 years from the agreement’s effective date.
Mohamed Juma Al Shamsi, Managing Director and Group CEO, AD Ports Group said, “This landmark agreement with Mira Developments reflects the group’s commitment to advancing the development of its land portfolio and attracting new investment. The significant land sale establishes a new source of income for the group, with the proceeds strengthening the company’s financial position through debt reduction and reinvestment into growth projects. Together with Mira Developments, we are not merely developing one of Abu Dhabi’s largest mixed-use plots, we are shaping a high-quality, liveable community that supports economic diversification and delivers lasting economic and social value for Abu Dhabi, in line with the vision of our wise leadership.”
Timur Mamaikhanov, Co-Founder and CEO, Mira Developments added, “We are pleased to partner with AD Ports Group on this transformative project. The Al Mamoura site is an exceptional location, and we are committed to developing a landmark mixed-use community that will set new standards for quality and lifestyle in Abu Dhabi. Our vision is to create a vibrant and dynamic destination that combines residential, commercial, and leisure facilities, and this agreement provides the foundation to bring that vision to life. We have full confidence in Abu Dhabi’s thriving real estate market and look forward to a successful collaboration with AD Ports Group.”
This commitment to the established timeline underscores the project’s importance for driving sustainable development and transforming the urban sector. This agreement marks a significant milestone in AD Ports Group’s growth journey. It reinforces the company’s position as a diversified and future-focused entity, attracting investments to the Emirate. Beyond strengthening the group’s financial position, the transaction unlocks new value from its extensive land portfolio. This enables the accelerated development of the master plan and the redeployment of capital into high-impact infrastructure, logistics, and trade facilitation projects, the statement said.
This project will enhance Abu Dhabi’s real estate landscape, introducing a premier community that combines residential, commercial, and leisure facilities. It will feature one of the region’s largest shopping malls, along with a business complex, hotels, world class golf courses, and educational institutions including universities and schools. The development reflects the increasing demand for high-quality developments in the capital and underscores the confidence of international developers in the emirate’s long-term economic vision.
This partnership will set a new standard for community development in the UAE capital. The project will establish a residential and lifestyle hub to one of Abu Dhabi’s key locations, creating a more balanced and dynamic environment, transforming Al Mamoura into a destination where business and community life can thrive together.
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Source: ME Construction News
UAE-based developer Calgary Properties and real estate and hospitality developer, Flora Realty, will collaborate to launch Flora Shore Beachside Residences, with OCTA Properties serving as the exclusive sales and marketing partner. Flora Shore Beachside Residences, will be a 14-story residential development nestled in Dubai Islands and will offer a blend of architectural elegance, premium amenities, and panoramic sea views.
Flora Shore is set to be handed over in Q3 2027, and presents a collection of two-, three-, and four-bedroom residences that are designed to evoke the essence of coastal living.
“We envisioned Flora Shore as more than just a residence, it’s a luxury lifestyle statement,” said Azmal Jaleel, Managing Director of Calgary Properties. “From its exquisite island location to its world-class amenities, every element has been thoughtfully designed to offer residents a seamless blend of tranquillity, connectivity, and elevated living. As part of Calgary Properties’ vision of Living Aspiration, Flora Shore represents the next chapter in refined island luxury.”
Noordheen Babu, Managing Director of Flora Realty commented, “We are proud to partner with Calgary Properties on the Flora Shore Beachside Residences, a project that reflects our commitment to excellence and innovation in Dubai’s evolving real estate landscape. Following the successful launch of Flora Isle on the Dubai Islands, which was met with overwhelming market response, Flora Realty continues to bring its deep expertise and visionary approach to waterfront living. Flora Shore is a lifestyle destination that embodies the spirit of coastal elegance and community-driven design.”
Fawaz Sous, CEO of OCTA Properties added, “There is something truly special about watching a unique concept come to life, and we are excited to see how Flora Shore makes waves in Dubai’s real estate market. Residences with easy access to the beach are becoming increasingly rare, and we are sure this hidden gem will resonate with buyers seeking comfort and sophistication.”
Residents of Dubai Islands will enjoy a resort-style experience with a range of amenities, including indoor and outdoor gyms, a yoga retreat area, an outdoor cinema, co-working spaces, a kids club and kids pool, and multiple lounge zones for relaxation and social interaction.
Located off Dubai’s northern coast, Dubai Islands is a dynamic mixed-use destination that combines luxury residences with retail, entertainment, and waterfront leisure. The architectural masterpiece is set to become a signature addition to this evolving landscape, offering both long-term investment value and a unique beachside lifestyle, said the statement.
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Developer MERED said it collaborated with Swiss architectural practice Herzog & de Meuron to design its landmark waterfront development on Al Reem Island. This latter is known for its signature vision of cultural heritage with bold contemporary design. With this project, Herzog & de Meuron aims to bring its signature style to Abu Dhabi’s waterfront locations, offering views of the Azure Lagoon, the sea, the Al Reem skyline, and Saadiyat Island.
Mered’s upcoming project, Riviera Residences, promises to be a landmark development with over 400 designed apartments and 12 exclusive villas. The villas comprise sky villas, ocean villas, and a penthouse, each offering views of the sea and the Al Reem skyline. Inspired by Abu Dhabi’s pearl-diving heritage, the design resonates both locally and internationally, creating a strong sense of place, said a statement.
Featuring landscaped gardens, towering trees, and green spaces, residents will enjoy a variety of amenities, four swimming pools, a fitness centre, indoor and outdoor yoga areas, wellness spaces, a padel court, table tennis, and an ice bath. The project will also offer indoor and outdoor lounges with fireplaces and family areas, promenade, cafes, fine dining restaurants, and boutique retail shops, and easy access to the island’s beaches.
Olga Bolshanina, Partner at Herzog de Meuron commented, “Riviera Residences is an ambitious project of a human scale that embodies the aspirations of its context an extension of a dynamic global community and the beginning of a vibrant neighborhood. Developed from the inside out, it is composed of floating slabs and stacked rooms some fully glazed, others with distinctive bay windows offering a variety of spatial experiences and degrees of privacy. Aggregated together, these ‘houses in the sky’ define a vertical neighborhood that balances individuality and collective life.”
“To anchor the project on its site, we created a new typology an antithesis to conventional podium parking a terraced landscape that integrates parking, courtyard villas, gardens, retail, and multiple amenities into a cohesive whole. Stepping slabs mediate between street and bay, creating a human scale, while dense indigenous vegetation and water elements establish a unique microclimate for the community of residents,” she added.
Michael Belton, CEO of MERED added, “Every element of Riviera Residences carefully balances the city’s heritage with bold, unique architectural design. The dynamic symmetry of the layouts offers a variety of options, so every resident can find a home that suits their lifestyle. Working with Herzog & de Meuron, whose architectural vision is recognised globally, allows us to create something truly unique. We’re confident this project will raise the bar for waterfront living in the capital.”
The project will launch in November 2025 with MERED bringing Herzog & de Meuron to Abu Dhabi, Riviera Residences will combine innovative architecture with the city’s coastal heritage, offering residents a distinctive waterfront living experience within a planned community, the statement concluded.
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Source: ME Construction News
Gulf Cryo and RAK Ceramics have inaugurated the UAE’s first Carbon Capture and Utilisation (CCU) plant, which is dedicated to producing high-purity CO₂. This initiative is said to align with the UAE’s Net Zero 2050 initiative.
The new plant, owned and operated by Gulf Cryo, captures CO2 from RAK Ceramics’ emissions and transforms it into a valuable product used by various industries across the nation, including food and beverage, healthcare, agriculture, and energy. This project reflects the shared commitment of both companies to advancing industrial sustainability in the UAE and forms a crucial component of RAK Ceramics’ strategic decarbonisation roadmap, said a statement.
Inaugurated by Saqr bin Saud Al Qasimi, Chairman of RAK Ceramics, alongside Sami Huneidi, Chief Administrative Officer of Gulf Cryo, and senior executives from both companies, the carbon capture facility is said to be the first in the UAE that is dedicated to producing 99.99% pure, food-grade CO2 for the merchant market.
Capturing approximately 17,000 metric tons of CO₂ annually from RAK Ceramics’ natural-gas engines, the process is complex due to the low CO₂ concentration in the emissions. Gulf Cryo has successfully integrated an energy-efficient purification process that converts emissions into clean, liquefied CO₂. The company then distributes this CO₂ to local industries.
Previously, Gulf Cryo imported recovered CO₂ from its carbon recovery facilities in Kuwait and Saudi Arabia. The new plant strengthens the UAE’s circular carbon economy and contributes to Ras Al Khaimah’s Integrated Sustainability Strategy 2050, said a statement.
“At Gulf Cryo, we are committed to driving the carbon economy, continuously expanding our capacities to provide a reliable source of CO₂ for both existing markets and emerging technologies that rely on it as a key resource. We extend our deep appreciation to RAK Ceramics for being an integral partner in the decarbonisation journey and for demonstrating clear leadership in driving private-sector sustainability,” said Huneidi.
Abdallah Massaad, Group CEO of RAK Ceramics added, “At RAK Ceramics, sustainability is at the heart of our growth strategy. Our partnership with Gulf Cryo marks a significant step forward in our journey towards decarbonisation and resource efficiency. By embracing innovative solutions that reduce our environmental footprint, we continue to drive positive change across our operations and contribute to the UAE’s Net Zero 2050 vision.”
The facility supports both the UAE Net Zero 2050 target and Ras Al Khaimah’s Integrated Sustainability Strategy 2050, underscoring how private sector innovation and collaboration can reduce emissions directly at the source, while building sustainable, locally integrated CO₂ supply chains to serve the UAE’s growing industries, the statement concluded.
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Symbolic Developments, the real estate division of Speedex Group, has announced the launch of Symbolic Altus in Liwan. This new residential development embodies the concept of elevated living, showcasing Symbolic’s dedication to crafting designed, family-friendly communities, architecture, modern functionality, and wellness-focused spaces.
This project will feature 108 furnished apartments, including one-bedroom Elite and 2.5-bedroom Panorama configurations. Symbolic Altus is said to redefine low-density luxury through its design-led approach and offers a neighborhood experience. The project is scheduled for handover in Q3 2027.
Symbolic Altus is the developer’s second project in the Liwan community. Following the success of Symbolic Alpha, which experienced over 30% appreciation in a short period, the project boasts elevated rental yields compared to nearby developments. Its location between Sheikh Mohammed Bin Zayed Road and Al Ain Road provides citywide connectivity, said a statement from the developer.
“Symbolic Altus is truly ‘Designed to Rise’, not just in its architecture, but in the lifestyle it offers,” said Murtaza Moiz, Vice Chairman of Symbolic Developments. “This project re-imagines boutique, family-focused living, with wellness and leisure spaces elevated to the rooftop, forming a crowned horizon that defines its character. Every element from the integrated greenery to the refined interiors and functional layouts has been purposefully designed to embody our commitment to excellence, integrity, and the legacy of quality that the Speedex Group has proudly upheld for over 35 years.”
Every residence at Symbolic Altus is fully furnished and features a modern closed-kitchen, private balconies adorned with greenery, and high-quality finishes throughout. The project’s architectural form ensures both elevation and privacy, while the rooftop amenities including an infinity pool, dedicated pools for adults and children, a gym, steam room, sauna, jacuzzi, and elegant seating areas offer residents a resort-style leisure experience complemented by stunning skyline views, the developer outlined.
It added that the residential project provides easy access to Academic City and Downtown Dubai. Just steps from the building, residents can enjoy a soccer field, basketball court, and a dedicated children’s play area, perfect for an active outdoor lifestyle across all age groups. Surrounded by landscaped parks, jogging and cycling tracks, and vibrant open spaces, Symbolic Altus is said to offer the perfect blend of urban accessibility and peaceful, community-oriented living.
With Symbolic Altus, Symbolic Developments continues to strengthen its position as one of Dubai’s most promising boutique developers building design-led, low density communities that emphasise family living, and sustainable comfort across the city’s evolving residential landscape, the statement concluded.
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Farnek has appointed Salome Joubert as its new Head of Soft Services. Reporting directly to Managing Director Julian Khalil, Joubert will oversee strategic planning, quality control, and sustainable innovation.
In her new role, Joubert will oversee the delivery and performance of Farnek’s Soft Services Division. Her primary responsibilities include ensuring operational excellence, maintaining high service quality, and promoting sustainability. Additionally, she will lead process improvements, vendor management, and team development across multiple sites.
“Salome is a seasoned hospitality and soft services leader with over 15 years of experience managing large-scale operations across the UAE and internationally. She has successfully led the opening of multiple five-star hotel properties and major entertainment venues,” said Julian Khalil, Managing Director of Farnek.
“She is a hands-on leader that has successfully employed cost optimisation strategies and is committed to international standards of excellence. She will be an integral part of our senior management team, and I am looking forward to working closely with her,” added Khalil
Joubert commented: “Farnek has an enviable reputation in the UAE FM market. The company invests heavily in training, sustainability, innovation, and technology, which are the key elements that support a more cost-efficient and sustainable operation. I am delighted to have joined such a progressive and forward-thinking organisation.”
Joubert, a South African national, commenced her career in 1997 as a Housekeeper with Hilton Hotels. After nine successful years, she joined Accor as a Complex Executive Housekeeper. In 2013, she was appointed Cluster Executive Housekeeper for Damac in Dubai. Subsequently, she spent the last seven years working as Senior Manager of Soft and Support Services for Enova, a UAE-based integrated energy and multi-technical services company.
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District cooling company Tabreed has appointed Arqaam Securities, a regional financial institution as its liquidity provider for its shares listed on Dubai Financial Market (DFM). The move is part of Tabreed’s ongoing efforts to enhance the trading dynamics of its shares by improving liquidity and creating a more accessible market for investors.
Under the terms of a 12 month agreement, Arqaam Securities will commence liquidity provisioning for Tabreed shares by entering two-way quotes into the market trading system. These quotes will adhere to specific parameters and comply with regulations and controls set by DFM and the UAE Securities and Commodities Authority (SCA).
This mechanism aims to narrow the bid-ask spread, reduce volatility, and instill investor confidence. All necessary approvals have been obtained, and the service is scheduled to commence on 22 October 2025. During the period, Arqaam Securities’ ownership of Tabreed shares will never exceed 5% of the total outstanding shares, said a statement.
Tabreed currently has a free float of 18.1% and is fully open to foreign investment. Mubadala and ENGIE are its two shareholders. Tabreed’s appointment of a licensed liquidity provider underscores its commitment to providing a smoother trading experience for investors and a more stable and liquid market environment.
Tabreed’s Chief Executive Officer, Khalid Al Marzooqi said, “This appointment is first and foremost about our shareholders. With Arqaam as our Liquidity Provider on DFM, we aim to enhance access to Tabreed’s shares, giving investors greater flexibility in dynamic markets and reinforcing our focus on sustainable, long-term value creation.”
Veselin Tilev, Head of Market Making at Arqaam added, “We are delighted to offer our Liquidity Provision services on the Dubai Financial Market to Tabreed, reinforcing our commitment to enhancing market depth and trading efficiency in the UAE. With our proven track record and deep understanding of local market dynamics, we are confident that Arqaam will contribute meaningfully to improving liquidity and facilitating active, orderly trading in Tabreed’s shares on the DFM.”
In the first half of 2025, Tabreed said it experienced steady growth driven by increased cooling demand and record capacity additions that boosted total connected capacity to 1.37m RT. Since then, the company has completed two significant transactions, expanding its connected capacity to approximately 1.55m RT.
These transactions have accelerated Tabreed’s expansion, including the acquisition of PAL Cooling alongside CVC DIF and the securing of a long-term Palm Jebel Ali district cooling concession in partnership with Dubai Holding Investments. These transactions have enhanced the company’s platform and reinforced concession-backed cash flows and long-term earnings visibility.
Following this, Tabreed’s shareholders approved its first-ever interim dividend of 6.5fils per share on 15 September 2025. This dividend amounted to US $50.36mn for the first half of 2025. The approval reflects the confidence in company’s momentum and its commitment to delivering sustainable returns to shareholders, the statement concluded.
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Source: ME Construction News