Developer Diriyah Gate Development Authority (DGDA) has signed a management agreement with Time Out Group – the global media and hospitality business – to open a new Time Out Market at Diriyah Square, the commercial, retail and lifestyle heart of the 14sqkm Diriyah Square development.

Set to be a key anchor of Diriyah Square, Time Out Market Riyadh is forecast to open in 2027. Spread across 9,000sqm and two levels, the cultural market aims to bring Riyadh’s best chefs, restaurateurs, and cultural experiences together under one roof, based on editorial curation.

The market will provide a space and opportunities for established as well as up-and-coming culinary and cultural talents. There will be 23 kitchens, five beverage serveries, multiple stages, event and exhibition spaces, a demonstration kitchen, kitchen academy and kitchen lab. With approximately 1,650 seats, guests will have a variety of indoor and al fresco dining options, the DGDA noted.

In May 2022, the DGDA said it would transform Wadi Hanifah into a nature-focused getaway.

Time Out first started in 1968 to showcase the best of the city and today covers content on 333 cities in 59 countries, with Time Out Riyadh having launched last year.

The Diriyah Square development will deliver retail, leisure, entertainment, hospitality and cultural offering for residents of and visitors to Riyadh. Over 180,000sqm in size, Diriyah Square will include more than 400 global retail and lifestyle brands and outstanding dining offers, as well as over 100 local concepts, seamlessly blending international brands with the best of traditionally inspired Saudi retail.

In addition to the retail offerings, there will be six luxury hotels, three branded residences, five premium office buildings and over 20 open-air event spaces. Whilst respecting the rich history and traditional Najdi architecture unique to the area, the design of Diriyah Square will feature state-of-the-art modern conveniences, delivering a unique place to shop, eat, rest, work and play, the statement added.

In July 2022, DGDA and SIRC signed a waste management agreement.

Jerry Inzerillo, Group CEO, DGDA commented: “We are thrilled to announce Time Out Market for Diriyah Square, becoming the first of many major anchors for the development. The team at Time Out Market share our vision – creating a vibrant dining experience for both locals and visitors alike that complements the retail, lifestyle and culture ingrained across Diriyah, and especially here at Diriyah Square.”

Time Out Market currently has seven open locations with a further seven signed, in addition to several other locations in advanced negotiations.

As part of Saudi Arabia’s Vision 2030, Diriyah is a $63.2bn development that aims to become the Kingdom’s foremost historical, cultural and lifestyle destination. The megaproject is making substantial progress, having already opening two elements of the masterplan in Q4 2022: At-Turaif, the UNESCO World Heritage site, and Bujairi Terrace, the new 15,000 sqm culinary destination with over 20 world-class local, international and Michelin star restaurants.

In early October 2022, DGDA and NHC said they would collaborate on mutual areas that serve the housing sector.

Time Out Market Co-CEO (Development) Jay Coldren added, “Time Out has always been at the forefront of urban centres, shining a light on the best of the city. Our Time Out Markets let local culinary and cultural talent showcase their skills, bring people together to connect, create employment opportunities, and provide an open and diverse workplace for the community.”

He concluded, “Diriyah Square is set to be a landmark, combining history, heritage and culture alongside retail and hospitality – as the country is opening up to tourism and the world, there is a well-established eating out culture that continues to grow, and evolving cultural scenes which both locals and visitors are increasingly enjoying. We are looking forward to offering our unique Time Out Market experience, alongside our partners at DGDA.”

In late November 2022, DGDA said it had added 16 new global brands to its hospitality portfolio.

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Prime residential prices in Dubai are set to experience the strongest price growth globally, according to property consultancy Knight Frank. Currently, top-priced neighbourhoods include The Palm Jumeirah, Emirates Hills and Jumeirah Bay Island.

Dubai’s perennial challenge has been its ‘build-it-and-they-will-come’ mantra, which has resulted in more homes being built than the market is capable of absorbing. In this cycle, however, the opposite is true: the number of new high-end homes planned is failing to keep pace with demand, according to Knight Frank in its ‘2023 Prime Predictions – Dubai Edition’ report.

Bulgari Lighthouse on Jumeirah Bay Island (31 apartments) and Alpago’s Palm Flower on the Palm Jumeirah (11 apartments) account for the lion’s share of new high-end homes coming to the city’s prime neighbourhoods, the firm said.

In mid-November 2022, Ellington said it would build an 88-unit project on the Palm Jumeirah.

Faisal Durrani, Partner & Head of Middle East Research, Knight Frank said, “Dubai’s prime residential market has – and continues to be – a global outlier, with record price growth in 2022, albeit this has been from a low base. Adding to the city’s appeal is its relative ‘affordability’, with prime homes transacting for around $800 per sq ft, making Dubai one of the most ‘affordable’ luxury residential markets in the world. Overall residential prices trail 2014 peak levels by 21.4%.”

Knight Frank said Dubai’s mainstream residential market is expected to register price increases of 5-7% by the end of 2022 and a similar rate of growth is expected in 2023.

“For prime Dubai, however, prices are likely to end the year around 50% higher than 2021. Supply is the other critical factor in our 2023 outlook, with just eight villas in Dubai’s prime precincts expected to be delivered by 2025,” he stated.

Later in November 2022, Arada entered the Dubai real estate market with the launch of Jouri Hills.

Across the 25 cities tracked, Knight Frank’s global research network now expects prime residential prices to rise by 2.0% on average in 2023, down from 2.7% predicted six months ago. Despite this slowdown, aggregate growth in 2023 would still be higher than that recorded in six of the last ten years.

Late in November 2022, Knight Frank also said that the demand for Grade A office space in key UAE markets was rising.

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Hyundai Doosan Infracore has celebrated the production of its 500,000th environmentally friendly small-sized G2 engine with a ceremonial event at its Incheon G2 factory, in South Korea.

The production and shipping of its 500,000th 1.8 to 3.4L grade small-sized G2 engine, comes as the plant completes ten years in business following its first production in October 2012 when the G2 engine plant was first built.

The ceremony was attended by more than 70 employees including Hyundai Doosan Infracore CEO and President Cho Young-cheul, CEO and Vice President Oh Seung-hyun, Engine Business Head Kim Joong-soo, and Labor Union Head Yoo Joon-mo.

In June 2022, Cummins debuted its 15L hydrogen engine at ACT Expo.

“The G2 engine is a high-efficiency, environmentally friendly engine produced with our very own technology and will be a key player that competes with global engine makers in markets such as the United States and Europe,” said CEO Cho Young-cheul at the ceremony.

Speaking about the future vision for G2 engines he added, “We need to create a systematic production system in order to reach total production of one million engines in the next five years, which will require twice the current speed. We will also work on creating synergy between our three construction equipment companies as these engines will be applied to Hyundai Genuine’s forklifts and other vehicles along with Hyundai Doosan Infracore and Hyundai Construction Equipment’s excavators developed on a new integrated platform.”

Hyundai Doosan Infracore’s G2 engine is an eco-friendly and highly efficient model that satisfies EU Stage V, the highest emission regulation in Europe and is used in various types of construction equipment along with forklifts and agricultural machines.

In June 2022, Hyundai expanded its heavy construction range with two articulated dump trucks.

The company says it plans to increase yearly capacity which is currently at 70,000 engines to 100,000 engines going forward by creating and expanding new productions externally.

In November 2022, Goodyear launched a new line of engine oils and lubricants for the Middle East.

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Voltas has said that its International Operations Business Group has won a new project in Saudi Arabia to provide heating, ventilation, and air conditioning (HVAC) services for buildings connected to the Jubail 3B Independent Water Project (IWP).

In a statement, Voltas said the project is part of the Jubail Desalination Plant that produces 1.401m cu/m of water a day. Of this, the share of J3B will be 0.57m cu/m per day. It added that the project has been awarded to its fully owned subsidiary Saudi Ensas Engineering Services Company.

The project scope involves HVAC works including electrical and control works for the buildings of the Jubail 3B project. In addition, Voltas will be in charge of building the electrical and control works for the building along with providing their energy-efficient HVAC systems.

In June 2021, Voltas said it had commissioned its first solar project in Dubai for SirajPower.

On the project win, Managing Director & CEO Pradeep Bakshi said, “Voltas is delighted to be a part of the IWP project in Jubail. It has served Middle East Asia – predominantly the UAE, Qatar, Oman, Bahrain and Saudi Arabia – for over 40 years. Today, Voltas is the leading MEP services provider in the region, felicitated with several awards for its quality, capability and safety records. With this new project, we believe that we will provide vast opportunities for further developments and collaboration for our IOBG division.”

Jubail is said to be one of the seven water projects that ACCIONA is undertaking in the Kingdom of Saudi Arabia. Construction began in June 2022 in partnership with SEPCOIII. The plant is being developed and financed by a consortium of three companies: ENGIE, NESMA, and AJLAN for the Saudi Water Partnership Company. ACCIONA has also completed two desalination facilities at Jubail and Shuqaiq.

Jubail 3B will draw some of its power from a dedicated 61MW-peak photovoltaic facility, which will also be built by ACCIONA.  This will be the largest in-house solar plant for a desalination plant in the KSA. It will both reduce the emissions associated with desalination and relieve power demand from the national grid.

In July 2022, Varun Malhotra, Senior Consultant at Cundall said that as the world is accelerating the transition to Net Zero, sustainability has also been the driving force in the HVAC industry.

The project also includes storage tanks, an electricity substation, a 59km overhead transmission line, and associated marine works.

Once completed, the desalination facilities will be able to supply water to 8.3m people, or nearly a quarter of the nation’s population. The plants will use reverse osmosis technology, making them more effective than traditional thermal desalination, while using less energy, and consequently having a lower carbon footprint. The project is valued US $5.1mn and will be completed within a year.

In November 2022, Engie and HIWPT launched a desalination training program exclusively for Saudi women.

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Mall and leisure specialist Majid Al Futtaim has inked its second sustainability-linked loan (SLL), which has been structured as a US $1.25bn revolving credit facility (RCF) linked to its environmental, social and governance (ESG) related targets.

The SLL aims to facilitate the reduction in the company’s carbon footprint by reducing its scope one & scope two emissions, and implementing LEED certification for its buildings, as well as improving gender diversity within the organisation demonstrating its commitment towards the environment as a socially responsible employer, the organisation said.

First Abu Dhabi Bank (FAB) led the transaction as sustainability coordinator and agent. In line with Majid Al Futtaim’s ambitious sustainability strategy, the company has set sustainability performance targets (SPTs) which will be measured on an annual basis throughout the tenor of the facility, it explained.

In June 2021, the firm said that it achieved 97% of its 2020 sustainability goals.

The facility is said to position Majid Al Futtaim as the largest SLL borrower in the region. In addition, the company notes it remains the region’s only ‘penalty-only’ borrower, demonstrating its commitment to achieving real, tangible sustainability targets.

“Sustainable finance options are a vital solution in the quest to ensure the private sector creates a resilient economy and supports development that meets the needs of the present without compromising the future. Today’s announcement maintains Majid Al Futtaim’s long-held commitment to becoming one of the most sustainably considerate companies regionally and globally,” said Ziad Chalhoub, Chief Financial Officer at Majid Al Futtaim Holding.

He added, “Through the new SLL, we are further extending our accountability in how we finance our operational and capital expenditures across the group. As our second such SLL signed in as many years, we are aligning our actions with our long-term strategic target of reaching a Net Positive business model by 2040.”

In August 2021, Majid Al Futtaim signed its first SLL worth $1.5bn.

Mustafa Al Khalfawi, Head of Global Banking UAE & Global Head of Government, Sovereigns & Public Sector at FAB remarked, “We are proud to lead this transaction with Majid Al Futtaim and to support a key UAE entity in achieving its ambitious sustainability targets. FAB is the region’s leading bank for unlocking innovative sustainable finance solutions, having issued the first green bond in the GCC in 2017 and as the first UAE bank to commit to achieving net-zero greenhouse gas emissions across our operations and portfolio. There is strong and growing demand for sustainability-linked banking facilities from UAE and GCC corporates, and we are working closely with our clients to drive positive environmental outcomes.”

The facility is said to be structured on the basis of three key performance indicators (KPIs), which will be independently assessed on an annual basis. The KPIs for the facility are billed as “ambitious” and core to Majid Al Futtaim’s operations and in line with SLL Principles as published by the Loan Market Association (LMA) as follows:

• Reducing the scope one and two emission intensity of Majid Al Futtaim’s property portfolio, calculated as tCO 2 e/managed sqm, in line with the company’s science-based targets (SBTi) towards net positive by 2040
• Having all its malls certified LEED Gold or equivalent or better by 2026. In addition, the company has set a target of increasing the number of malls in Majid Al Futtaim’s portfolio with a LEED Platinum or equivalent rating by 2027
• Achieving 32% of women in the top three seniority levels (board, senior executive and senior management) by 2027, exceeding the previous 30% target set on the company’s existing SLL

In June 2022, Ibrahim Al Zubi, Chief Sustainability Officer at Majid Al Futtaim Holdings spoke to Gavin Davids about why incorporating sustainable practices is the only way to do business.

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Saudi Arabia’s Ministry of Tourism has pledged a US $1mn donation to support the work of the Maasai Wilderness Conservation Trust in Kenya, on behalf of American actor and philanthropist Edward Norton. The move is said to be part of the ministry’s ongoing commitment to support conservation and sustainable tourism.

Norton is the President of the trust and made the announcement alongside Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, at the 22nd World Travel and Tourism Council (WTTC) Summit in Riyadh.

“The defining challenge of the 21st century is adapting our economies and industries to be ecologically sustainable and to put the brakes on global warming. This challenge has to be met by the global tourism industry as much as any other sector. Tourism gets deserved credit for the positive connections it promotes but it can be an extractive industry with negative environmental and social consequence like any other when not properly held to account,” said Norton.

In May 2020, Red Sea Global inked a deal to boost local communities through CSR initiatives.

“We have to raise the bar higher on sustainability standards for the tourism industry and I really appreciate that WTTC invited me to be a little bit provocative in challenging the industry not to accept superficial changes as ‘enough’.”

Norton is a long-standing advocate for conservation causes and in 2010, he was appointed the first United Nations Goodwill Ambassador for Biodiversity by then UN Secretary-General Ban Ki-moon, who also spoke at the WTTC Summit.

Norton added, “I’m enormously grateful for the contribution WTTC and our hosts at the Saudi Ministry of Tourism have made to the critical work of Maasai Wilderness Conservation Trust. This organisation is a shining example of how frontline indigenous communities can build transformative new economic opportunity through wise management of natural resources.”

In April 2021, Egis was awarded a contract by the Saudi Ministry of Culture to develop the Red Sea Museum in Jeddah.

Norton is also President of the Board of the Maasai Wilderness Conservation Trust, a Kenya-based community conservation organisation that actively partners with traditional communities in East Africa to conserve key ecosystems by developing sustainable, natural resource-based economic revenues.

Saudi Minister of Tourism Ahmed Al-Khateeb remarked, “We are enormously proud to have hosted Mr. Norton at the summit and actively endorse his committed advocacy to support conservation, sustainability and environmental initiatives internationally. The Kingdom’s tourism strategy is built on using renewable approaches to development, preserving landscapes and empowering communities. Mr. Norton’s passionate advocacy can only encourage us here and around the world to follow his example in building a sustainable future.”

Norton was a special guest at the Summit and engaged in a 45 minute conversation on the sustainability movement with Fahd Hamidaddin, CEO and member of the board Saudi Tourism Authority. The discussion focused on Norton’s personal experience as a storyteller, environmental activist, and social entrepreneur.

In late November 2022, Saudi Arabia’s DGDA said it had added 16 new global brands to its hospitality portfolio.

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Developer MAG has launched Keturah Reserves, a US $816.7mn luxury residential development in Meydan, Dubai, that will be the first in the Middle East to offer the ‘Bio Living’ concept that incorporates nature into the built environment.

Scheduled to be completed by Q2 2025, the project claims to offer transformational living through the design of space and the incorporation of nature to improve physical, mental, and emotional health for occupants.

A statement explained that Keturah Reserve will feature super homes comprising of villas and one-, two-, three-, and four-bedroom apartments. Amenities at the project include communal spaces, an outdoor pool, women’s and men’s gyms to help develop the body’s core, and the circulation of the inner Qi and spas. Restaurants that focus on non-processed organic foods that embrace and enhance a healthy lifestyle, and healthcare facilities, such as a homeopathic clinic, a pharmacy and herbalist store, will also be available.

In August 2021, Meydan said it had awarded a residential design contract to Indigo Living.

Other activities at the project include a Pilates studio, a water bike pool, silk rope classes, and rooftop meditation and yoga spaces. Activities for children are based on intuition training and educational development through play, the statement added.

Talal Moafaq Al Gaddah, Senior Executive Chairman of MAG said, “Keturah Reserve is uniquely conceived and designed with every detail crafted meticulously to elevate and enrich the lives of its residents. The project is the epitome of luxury living with a real sense of community.”

At the heart of the project lies The Park, a lushly landscaped space across 300,000sqft for residents to recharge and socialise, shaded by thousand-year-old olive trees sourced globally as reminders of Al Gaddah family’s origins as olive tree farmers and plantation owners, the statement continued.

In April 2022, Azizi unveiled new residential units at its Park Avenue I development in Mohammed Bin Rashid City.

Homes in the development will be angled to capture and maximise natural daylight, gently diffusing it throughout the interior without heat or glare. Double-volume interior spaces will increase the flow of naturally cooled air, reducing the need for air conditioning. The open-plan spaces are also designed without corridors or hallways, with custom-designed furniture and fixtures produced for each space to optimise the flow of passage.

Keturah Reserve, which is part of the new luxury real estate and hospitality brand Keturah, is designed by architect Charlie Wu, Al Gaddah pointed out.

“The development is a Keturah concept that elevates and evokes the profound well-being of mind and body through the innovative design of its interior, exterior and personal spaces, connecting residents with the surrounding nature through Bio Living,” he concluded.

In May 2022, developer Sobha said it expected a ‘considerable increase’ in residents at Sobha Hartland in 2022.

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The Saudi Motorsport Company (SMC), the promoter of the Formula 1 STC Saudi Arabia Grand Prix 2023, has said that further changes will be made to the Jeddah Corniche Circuit ahead of the return of the global motor sporting event to the city in March 2023.

Located alongside the Red Sea coast, the Jeddah Corniche Circuit is home to the world’s fastest street circuit. The Formula 1 STC Saudi Arabian Grand Prix 2023 will return to Jeddah from 17-20 March and will be the third time the race has come to the city.

The changes have been made in cooperation with Tilke GmbH, following consultation with F1, the FIA, and drivers. They aim to improve driver sight-lines in specific areas of the circuit, while also refashioning a variety of kerbs, so as to deliver a ‘smooth, safer, and more exciting race’, with a new era of cars, the SMC noted.

In March 2022, Averda said it won the race to provide waste services at the Saudi F1 Grand Prix.

Amongst the most significant changes is the addition of ‘Rumble Lines’ at turns three, 14, 19, 20, and 21, SMC said. A Rumble Line is defined as an adhesive on the ground similar to ones used on highways giving the driver notice that they are out of lane – in F1 terms this effectively ‘shakes’ the car which causes traction to be lost, subsequently slowing it down.

Bevelled kerbs have also been added in place of steel ones at turns four, eight, 10, 11, 17 and 23. The changes come in line with new recommendations brought about after the introduction of the new F1 cars at the beginning of the year, the statement added.

CEO Martin Whitaker said, “The evolution of the Jeddah Corniche Circuit continues apace and we at SMC are excited to add these further tweaks to our magnificent track as a result of positive consultation with the FIA, F1 and the drivers. The previous two races here in Jeddah have already confirmed the JCC as the world’s fastest and most exciting street circuit, and these new developments will only add to the spectacle that fans can expect to see next March when F1 returns to our city.”

In July 2022, the JCDC inked a MoU to design a luxury cruise terminal for the Jeddah Central project.

“It is vital for any circuit to listen and learn from those racing on it and use their feedback to grow and improve at all times. We are confident these changes will lead to even faster, more exciting and – crucially – safe racing and we can’t wait to see the world’s greatest drivers battle it out here under the lights again in 2023.”

SMC said to further improve driver sight-lines and visibility, turns 14 and 20 have shifted the fence wall on the right- and left-hand sides respectively by 7.5m (T14) and 5m (T20), with an additional Rumble Line implemented in the verge between the white line and fence wall of these widenings. Additionally, the fence wall has been adjusted at turns eight and 10 to give drivers more visibility of the turn ahead.

Finally, turns 22 and 23 – one of the main ‘action’ sequences on the circuit – has seen its ‘S’ shape squeezed via the adjustment of the fence at T23 and addition of a bevelled kerb, with the aim of slowing down the drivers by approximately 50km/h.

In September 2022, Lifestyle Developers said it had begun construction on its Vue project in Jeddah.

In addition to the on-track changes, the wider JCC complex is also continuing to grow into a state-of-the- art home of sport, leisure, and entertainment, the statement concluded.

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The International Powered Access Federation (IPAF) has announced that its ePAL mobile app for operators of mobile elevating work platforms (MEWPs) and mast-climbing work platforms (MCWPs) has surpassed a quarter of a million first-time downloads.

The milestone follows the global roll-out of the ePal app earlier this year. The app which had initially been launched in June 2021, allows digital certification of training, including IPAF’s Powered Access Licence (PAL) Card.

Through the app, IPAF can communicate safety messages to operators around the globe whilst users can store and share training certification, log machine time, and report incidents or near-misses to IPAF’s portal.

In mid-July 2022, Rapid Access expanded its fleet with JLG and later in the month, IPAF accredited its first training centre in Kenya.

The app is said to be available in all territories where IPAF certifies training, and according to the organisation, is now in more than 160 countries worldwide.

Peter Douglas, IPAF’s CEO and Managing Director said, “We developed ePAL in partnership with our member firm Trackunit in part to offer operators and supervisors a digital tool to share training certification and log equipment time, and also as part of our ongoing digitalisation project. We are streamlining processing of IPAF licences and have significantly reduced the carbon footprint involved in sending hundreds of thousands of plastic PAL Cards and paper certificates all around the globe each year.”

He added, “We have been rolling the app out since mid-2021, and while the emphasis was on newly certified training candidates in the first few months, take-up has snowballed, and now it is encouraging to see that ePAL is being downloaded by ever increasing numbers of people around the world.”

In August 2022, Terex announced its investment in Acculon Energy to accelerate MEWP electrification and, in November 2022, Construction Machinery Middle East said that its Access & Handling Summit in February would showcase ‘smarter ways to work at height’.

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