Phil-Malem_1000x600-1.jpg

February 1, 2023 foasummit0

In alignment with the UAE’s Year of Sustainability, Serco has launched an Advisory with Purpose division. The firm says it is committed to driving Environment, Social and Governance (ESG) goals, and enabling governments to accelerate their national visions.

With President His Highness Sheikh Mohamed bin Zayed Al Nahyan announcing 2023 as the ‘Year of Sustainability’ in the UAE, and measures featuring heavily in Saudi Arabia’s Vision 2030 ambitions, Serco Middle East has already taken proactive steps to support organisations and governments to achieve their environmental and sustainability targets through an advisory service that spans from concept to implementation, the firm explained in its statement.

In a year where COP28 is shining a spotlight on the Middle East, the launch of the Advisory with Purpose division will further cement Serco’s continued commitment to embed the latest global best practices into local organisations and government entities. This will help improve performance though the transfer of knowledge, skills and resources from Serco’s experts who specialise in sustainable, socially responsible advisory services both globally and in the region, it added.

In late September 2020, Serco said it won a contract at ADF’s UAE logistics base and, in late December 2021, the firm said soft facilities management in the UAE healthcare sector can save the government up to 30%.

“This is a major step forward for us as a business, in a year where we have outlined very clearly our focus on purpose – and bringing national visions to life. It is our responsibility to always be conscious of our environmental and social impact. We all have a role to play when it comes to ensuring a better future, and as a people-driven business, we need to act as a catalyst to help accelerate these goals,” said Phil Malem, Serco Middle East CEO.

The firm said that through its new division it will support clients with an end-to-end service, as it looks to enable regional governments to meet their ESG commitments. Additionally, organisations will be able to show their commitments in a way that also enables them to reduce operational costs through digital asset management, impact a better future for citizens and residents by providing customer experience expertise, and protect the safety and security of the region through emergency services and crisis management. This will be delivered all whilst enabling clients to reach their net zero ambitions, the firm pointed out.

Malem concluded, “Serco has a long heritage in delivering on nationalisation agendas, and supporting governments and organisations alike to reach their ESG goals. The launch of this service was a natural progression, and we’re looking forward to harnessing our expertise, experience and ability to implement under one umbrella to continue to impact and create a better future for citizens and residents in the region.”

In mid January 2022, Serco announced the appointment of a new Growth Director.

The post Serco launches ESG focused ‘Advisory with Purpose’ division appeared first on Middle East Construction News.


Source: ME Construction News


DEWA-1_1000X600-1.jpg

February 1, 2023 foasummit0

Dubai Electricity and Water Authority (DEWA) last year inaugurated 17 new substations including 15 132kV stations with a conversion capacity of 2,280MVA; and two 400kV stations with a conversion capacity of 4,000MVA, in Al Qusais Industrial Area 5 and Jebel Ali First respectively.

Announcing the achievement, DEWA said it had installed 5km of 400kV overhead transmission lines and 247km of 132kV ground cables to connect the substations to the main transmission network. This is part of DEWA’s continuous efforts to keep pace with the continuous development of Dubai’s infrastructure.

The new 132kV main transmission stations supply Al Barsha South, Jebel Ali, Al Furjan, Al Merkadh, Business Bay, Umm Hurair, Wadi Al Safa, Oud Al Muteena, Al Rigga, Al Wasl, Me’aisem, Umm Al Ramool, Al Aweer, and Ghadeer Barashy.

The total cost of these stations and projects has reached around $871mn, the report added.

In early January 2023, DEWA said that over two million smart metres had been installed, following which, it stated that 58.4% of works were completed on the $387mn Hatta Hydroelectric Power Plant.

DEWA MD and CEO Saeed Mohammed Al Tayer said the company’s investments in electricity transmission projects between 2021 and 2024 had surged to $2.72bn, including $544mn for 400kV transmission projects and $2.17bn for 132kV projects. He explained that the total value of DEWA’s investments in existing and completed electricity transmission projects in 2022 reached $2.2bn. This included $218mn for 400kV transmission projects and $1.99bn for 132kV transmission projects.

Executive Vice President of Transmission (Power), Hussain Lootah, said that completing the 17 stations required more than 33m working hours, using the latest internationally approved technologies while ensuring the highest security and safety standards.

He concluded, “By the end of 2022, the number of 132 kV transmission substations in Dubai stood at 334, in addition to 29 stations under construction.”

In early January 2023, DEWA said it achieved the highest information security certification.

The post DEWA spends $871mn on new projects in 2022 appeared first on Middle East Construction News.


Source: ME Construction News


Nasma-Arada-1000x600-1-1.jpg

February 1, 2023 foasummit0

Arada has reported a 46% rise in sales during 2022 to US $955.5mn off the back of a surge in the UAE property market. The developer said that it had an exceptional sales performance in 2022 thanks to an aggressive expansion into new markets, growing demand for its existing communities, and the overall strength of demand for quality housing in the UAE real estate market.

In total, it said that it sold 2,268 homes in 2022, which was a slight decline on the year before, as home buyers continued the recent trend of investing in larger and higher-value villas and apartments, the firm noted.

Over the course of the year, the developer launched its first project outside Sharjah, Jouri Hills at the popular Dubai master community Jumeirah Golf Estates, and witnessed strong sales at its existing communities, Masaar and Aljada.

In addition, the master developer secured favourable ratings from Moody’s and Fitch in June and also successfully completed its first public financing deal, raising US $450mn in a sukuk that was listed on the London Stock Exchange.

In late December 2022, Arada awarded two contracts worth $255mn for 986 homes at Masaar.

It also completed 3,982 units at its communities in 2022, including the last phase at its first project, Nasma Residences, which is now fully finished and handed over.

Ahmed Alkhoshaibi, Group CEO of Arada said, “2022 was a transformative year for Arada on a number of fronts, as we built on our market-leading position in Sharjah by launching the first in a series of projects we have planned for the Dubai market. We are heavily focused on delivering high-quality homes surrounded by world-class amenities in ideally located communities, and this is a proposition that is clearly being welcomed by buyers. Following the successful closure of our sukuk last year, we are extremely well-placed to continue our rapid expansion in 2023 by launching new projects, redoubling our construction efforts to deliver another 2,600 homes in the year ahead and welcoming ever more visitors to our communities.”

Arada’s best-performing project in terms of sales was once again Masaar, the upscale forested community located in the up-and-coming Al Suyoh district of Sharjah. In total, the developer sold property with a combined value $615.2mn.

Demand for property in Aljada, Sharjah’s largest ever mixed-use project, also remained high with the value of homes sold during 2022 reaching $285.86mn.

In early January 2023, Arada completed work on its US $190.5mn Nest project in Aljada.

The strong demand for homes was also reported at the recently launched Dubai project, Jouri Hills at Jumeirah Golf Estates. Following its launch in the last month of 2022, the developer sold property valued at $54.99mn.

Arada’s sales performance was reflected in the surging demand for property across the UAE. In Sharjah, the total value of property registered at the Sharjah Real Estate Registration Department in 2022 reached $6.5bn as demand for integrated communities in New Sharjah, where Arada’s projects are based, remained resilient. Meanwhile, the Dubai real estate market had its best ever year, with the total value of property registered at the Dubai Land Department rising by 78% to $143.7mn in 2022, in comparison to the previous year.

Since its foundation in 2017, Arada has now sold more than 11,000 units and has delivered 6,154 homes. Another 5,000 units are currently under construction across its communities, the developer concluded.

In mid January 2023, the developer awarded a $129mn contract for the Vida Aljada Hotel Complex to GAC.

The post Arada reports 46% rise in sales in 2022 to reach US $955.5mn appeared first on Middle East Construction News.


Source: ME Construction News


Ceramic-Tiles_1000x600-1.jpg

February 1, 2023 foasummit0

Ceramics manufacturer Saudi Ceramic Company has announced that steady progress is being made on its new porcelain tiles factory, with more than 40% of the work complete.

With a capacity of 8.25m sqm, the new facility has had a total investment of US $66.4mn, with financing provided through internal accruals and fresh borrowings, local media have previously reported.

The company said that it expected to launch commercial operations at the plant in Q4 2021, but it was delayed due to technical issues. As such, Q1 2024 has been set for both the trial and commercial production start of the plant.

In early August 2022, South Korea’s SeAH and Aramco said they were setting up a specialised steel project and, in mid September 2022, Saudi Arabia said it would build iron and steel projects worth $9.31bn.

The delay was mainly due to legal proceedings from authorities as well as changes in delivery schedule of machines and equipment due to external factors impacting suppliers, the company said in its filing to Saudi bourse Tadawul.

The company also noted that since there has been no change to the project scope, there will be no change in the costs associated with the project, it concluded.

In late November 2022, AJ Steel said it would grow its operations in Abu Dhabi with a 96,000sqm facility expansion.

The post Saudi Ceramic Company says new tile factory 40% complete appeared first on Middle East Construction News.


Source: ME Construction News


Azizi-Park-Avenue_1000X600-3.jpg

January 31, 2023 foasummit0

UAE-based Azizi Developments has announced that 58% of construction works has been completed on its premium off-plan project Park Avenue I, located in MBR City, Dubai.

The project comprises 372 residential and 29 retail units across three buildings, each of which comes with a fully-equipped gym and swimming pool.

Work is rapidly progressing, with the structure of Park Avenue I now being 98.3% complete, construction at 58%, blockwork at 99%, and internal plaster works at 84.6%. The total workforce was also increased to 660 to further accelerate construction, the developer explained.

In early September 2022, Azizi announced the purchase of land in a prime area in Dubai and, in early January 2023, the developer said it would deliver 11,000 units in Dubai in 2023.

On the ongoing project, Azizi CEO, Farhad Azizi said: “We have made significant progress with our Park Avenue project. By enhancing our procurement procedures and appointing only the most reliable contractors, we have achieved faster construction results, and have further raised the bar in our quality standards, exceeding the expectations of our valued investors and end-users. Strategically located, our Park Avenue developments offer excellent amenities and a distinguished, comfortable, and modern lifestyle that attracts both local and international investors.”

According to Azizi, the project is built around the concept of connected serenity, and is the epitome of a strategic, easily accessible and convenient location that creates its own ‘little getaway’ within the city.

Surrounded by greenery, Park Avenue is also near to Azizi’s French Mediterranean-inspired master-planned community, Riviera, as well as the upcoming Meydan One Mall, the Meydan Grandstand, and The Track. It’s also only a 10-minute-drive away from Dubai Mall and Downtown Dubai.

In early January 2023, Azizi said it would also develop a $5.4bn Dubai South project.

The post Azizi Park Avenue I project 58% complete appeared first on Middle East Construction News.


Source: ME Construction News


Raja-Alameddine-CEO-Colliers_1000x600-1.jpg

January 31, 2023 foasummit0

Raja Alameddine has been appointed Chief Executive Officer in the MENA region for Colliers, the firm has announced. The firm said it partnered with physical asset management company Eltizam Group in early 2022, and now sits within the iREC Holdings division, which is part of the Eltizam Group.

“We are delighted to have Raja Alameddine on board as the CEO for Colliers in the MENA region and to have his expertise available to the wider Eltizam Group. Alameddine has extensive geographical mobility and his regional leadership will not only lead us to push boundaries, but will also inspire the wider team with his wealth of knowledge,” said Naser Barhoum, Divisional CEO, iREC Holdings.

According to Colliers, Alameddine has over 30 years of experience in the real estate industry and is an expert in various asset classes, including master-planned cities and large-scale mixed-use communities.

In late January 2023, Yas Holding launched its property development arm, Taraf and, in the same month, Espace Real Estate said it was expanding with two new Dubai offices.

With a background in real estate development and investment banking, Alameddine’s expertise will be instrumental in accelerating the growth in the region and taking the business to new frontiers, the firm said.

Alameddine commented, “I am honoured to be appointed as the CEO of Colliers in the MENA region. Colliers provides more than a strong foundation; its inclusive culture, pivotal strategies and resilient business acumen are all aligned with my vision of a revolutionary tomorrow.”

“I look forward to this empowering opportunity and to building on a proud history of more than 30 years, while delivering outstanding value to all our stakeholders,” he concluded.

Late in January 2023, Global Partners said it had successfully closed its $212mn build-to-rent property fund.

The post Raja Alameddine appointed CEO for Colliers MENA appeared first on Middle East Construction News.


Source: ME Construction News


AlUla_1000x600-1.jpg

January 31, 2023 foasummit0

The PIF-owned AlUla Development Company has launched operations in support of the development of AlUla, it has been announced.

According to a statement, the new entity will utilise real estate development and asset management, alongside a long-term investment strategy, to create jobs and opportunities for local businesses and communities. Furthermore, it will work to preserve one of the world’s largest and oldest cultural sites.

It highlighted that the company would work closely with local and international experts in architecture, construction, design, and heritage conservation to deliver the sustainable transformation of AlUla.

The company’s mandate is in line with PIF’s strategy, which is focused on unlocking the capabilities of promising sectors in Saudi Arabia, which will help drive the diversification of the economy, increase private sector engagement, and improve the quality of life in the country, in line with Vision 2030.

In early October 2022, AECOM opened a new office to support projects by the Royal Commission for AlUla and, later in the month, the Royal Commission for AlUla showed off the design of its first neighbourhood.

The company has been tasked with advancing the next chapter of AlUla’s extraordinary legacy and transform the ancient city into a global tourist destination. It will work in collaboration with RCU and other private sector entities to support the development and operation of a world-class portfolio of hospitality, residential, retail, commercial, and infrastructure assets.

The AlUla Development Company will be an additional pillar to the economic ecosystem in Saudi Arabia, which comprises of a number of projects that have been designed to stimulate and benefit the country, as well promote development and investment across a number of sectors.

The planned developers in AlUla include 7,500 plus hotel keys, 5,000 residential units, a staff village comprising of 1,000 plus units, supporting infrastructure and more, the statement concluded.

In late October 2022, the Royal Commission for AlUla signed masterplan partnerships with AECOM and an Egis-led consortium.

The post AlUla Development Company launches operations to support development of AlUla appeared first on Middle East Construction News.


Source: ME Construction News


Desalination_1000x600-1.jpg

January 31, 2023 foasummit0

Saudi Water Partnership Company (SWPC) has issued requests for qualification (RFQs) to a total of 35 companies for the Jubail 4 & 6 Independent Water Project with a total capacity of 600,000cu/m per day.

In a statement, SWPC said the desalination plant will be located 18km south of Jubail Industrial City, as well as associated infrastructure and facilities. The scope of work includes the finance, development, operation, and maintenance of the key seawater reverse osmosis (SWRO) desalination water project in Jubail Industrial City, as well as associated infrastructure and facilities.

It will be adjacent to the existing plant units (Jubail Phase 1, Jubail Phase 2, Jubail 3A and 3B), all of which are located in the Eastern Province of the Kingdom.

According to SWPC, the application for pre-qualifications are open on an individual basis or as a consortium to all entities who have submitted an expression of interest, or any such entity that has not submitted an expression of interest and has obtained SWPC’s approval. It added that the deadline for submitting the RFQs has been set at 21 February 2023.

In late September 2022, Qatar’s Umm Al Houl desalination plant achieved one millions hours without accident.

Amongst the firms eyeing the project include Spanish infrastructure majors Acciona, Abengoa Agua; GS Inima; Lantania Aguas and Elecnor Group, French group Veolia, Italian group Fisia Italimpianti and Japan’s Marubeni Corporation in addition to Indian construction majors – Shapoorji Pallonji; VA Tech Wabag and Vishvaraj Environment and Chinese groups – China First Heavy Industries International and Hainan Litree Purifying Technology.

The main Saudi firms in the race are utility giant ACWA Power; Ajlan & Bros; Marafiq; Buhur for Investment; Fas Energy; Nesma; Aljomaih Energy and Water; Alsharif; Al Kawther Industries; Mowah and Saudi Pan Kingdom Company (SAPAC).

Other regional heavyweights who have expressed an interest in the project includes the Middle East unit of global energy major Engie – Kahrabel. UAE groups like UTICO and METITO, as well as the Kuwait-based Alghanim International General Trading and Contracting , as well as Egypt’s Orascom Construction, the statement concluded.

In early November 2022, ACWA Power said it had achieved the financial close for the $821mn Shuaibah 3 IWP project and, in mid December 2022, SWPC invited EOIs for Jubail 4 & 6 Independent Water Project.

The post SWPC issues RFQs to 35 companies for Jubail 4 & 6 IWPs appeared first on Middle East Construction News.


Source: ME Construction News


EastSitra1_1000x600-1.jpg

January 31, 2023 foasummit0

Ibrahim bin Hassan Al Hawaj, Bahrain’s Works Minister, carried out an inspection for the first phase of construction of the roads leading to the city of East Sitra, to review the latest developments of the project.

According to a Bahrain News Agency report, Al Hawaj affirmed that the ministry is working to keep pace with the Kingdom’s urban and investment development. He pointed out that the ministry is providing integrated infrastructure in a way that contributes to achieving development goals.

Furthermore, the ministry is working towards implementing the goals of Bahrain’s Economic Vision 2030, and strategies for developing local planning, and facilitating the movement of citizens, residents and visitors to the Kingdom, the report added.

The multi-million-dollar East Sifra Town project will see the construction of a four-lane highway being built in both directions. As part of the project, a 50m-wide second sea crossing will be developed at the northern port of the city, in addition to a 55m-wide second sea crossing at the southern port.

In early January 2023, Bahrain invited developers to bid for the construction of 700 residential units and, later, Naseej announced that it had appointed CBRE to manage and lease retail for CanalView on Dilmunia Island.

The highway will be connected to Bahrain’s main road network via Shaikh Salman bin Ahmed Al Fateh Street Highway in the north, passing through Highway 1, and from there to the intersection of BAPCO Depots in the South.

According to local media reports, work on Phase One of East Sitra Town project is on track, and the development is set to become the fifth residential city in the Kingdom. It will contain 3,300 housing units, which will be constructed over three phases, at a total cost of US $685.2mn.

The megaproject has been designed to accommodate up to 20,640 people, and will include schools, kindergartens, nurseries, public parks, children’s playgrounds, amongst other facilities. Also included will be a 6.2km long beachfront, with 13km of cycling tracks, and a further 120km of pavements for pedestrians.

In late January 2023, authorities said that secondary infrastructure works began at key plots in Diyar Al Muharraq.

The post Construction of key highway to East Sitra on track for scheduled completion appeared first on Middle East Construction News.


Source: ME Construction News


DIFC_1000X600-1.jpg

January 30, 2023 foasummit0

Global Partners Limited, a DFSA regulated institutional fund manager specialising in alternative investments, has successfully closed Global Partners Property Fund I (CEIC) Limited, a Qualified Investor Fund based in the DIFC.

In a statement, the fund manager explained that the fund focuses on the Dubai build-to-rent housing market with two projects on the Dubai Water Canal. US $212mn was raised, with 35% coming from North America, 37% from Europe, and 27% from the UAE.

Martin Linder, Chief Executive Officer at Global Partners said, “We are delighted with the reception we have received from global investors for our inaugural fund. Institutional capital is increasingly interested in Dubai real estate, and we have created an ideal fund to cater to this demand. The fund is in line with Global Partners’ strategy to deliver institutionally owned and managed residential supply in Dubai.”

In early December 2022, Knight Frank said Dubai’s prime residences are set to lead global price rises.

H&H Development, the fund’s property development partner, will play a vital role in ensuring the fund’s success through their proven world-class execution capabilities. The fund’s two projects are upmarket developments on the Dubai Water Canal which will use H&H Development’s Eden House brand.

They will be called Eden House, The Canal, and Eden House, The Park and are perfectly located to address a market gap for affluent renters in Dubai.

Miltos Bosinis, CEO of H&H Development added: “We are excited to be part of this investment initiative which proves that Dubai has become an international financial centre that attracts global investor’s interest from all over the world.

In late December 2022, the Dubai Land Department unveiled its new strategic plan for 2023-26.

He concluded, “As a reputable institutional developer, H&H will give Global Partners all the support they need to carry out their strategy and expand their footprint in Dubai to create a bespoke portfolio of properties of the highest quality and standards.”

In late January 2023, Nasma said it was set to expand its holiday home profile.

The post Global Partners successfully closes $212mn build-to-rent property fund appeared first on Middle East Construction News.


Source: ME Construction News