Compass has announced Rachel Willacy as its Regional Head of Procurement. As part of her role, she will spearhead the evolution of the firm’s service line with the inclusion of procurement excellence, aligned with the group’s client-centric, project development consultancy focus.

Willacy is a senior FCIPS qualified and chartered procurement professional, having honed her skills through assignments in the Middle East and United Kingdom. Over the course of her 15-years in the industry, she has been acknowledged for her strategic development abilities in navigating client solutions, whilst leading major projects in the housing and construction realm. Building on her reputation as a champion of organisational EDI, she will take the helm of Compass’ growing Graduate Scheme, working alongside the group’s directive of further fostering a diverse and inclusive working environment for all, the firm commented.

“I have long been aware of Compass’ reputation in the Middle East, and I’m pleased to be joining the company at such a pivotal time. We’re focused on enabling our clients to maximise value throughout every stage of their project life cycle by utilising our expanding expertise to shape supply chain strategies, collaborate on innovative international solutions, and support future sustainable project outcomes. I’m passionate about developing the best talent across the region and look forward to supporting the journey of our future leaders. Building on the strong foundations already in place, as well as the support of the Dar Al Arkan partnership, our plans for 2022 and beyond will aid the group’s ambitious goals of becoming an authority in turn-key project development solutions,” explained Willacy.

The firm notes that Willacy is one of several recent strategic hires, following its newly formed partnership with Dar Al Arkan Real Estate Development Company.

Spencer Wylie, Chief Executive Officer adds, “At Compass, we value ensuring our clients of the capability and capacity of our team. Rachel will bring a great deal to the table in this regard, with her extensive ability in strategic procurement, client centred solution design as well as talent development. Her knowledge of collaborating with clients on complex projects is an important addition to our business that will help us better serve new and existing clients.”

She joins the current team of 108 professionals, based in multiple offices throughout the region, as they continue to provide bespoke project development solutions for diverse sectors, ranging from giga-projects to small-medium sized, applying a considered partnership-led approach and unique understanding in project objectives, the firm stated.

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Source: ME Construction News

Work will soon begin on Phase One of the Golden Jubilee Walk project in Seeb according to Muscat Municipality. The project will feature a variety of recreational elements, areas for picnics and physical activities, a bicycle path and various other services.

Spread over 84,400sqm, the key phase will be developed in the middle of a lively area surrounded by residential neighbourhoods, commercial facilities and prominent landmarks close to Mawaleh, Al Hail and Al Khoudh, according to a report by The Muscat Daily.

Muscat Municipality has invited tenders for the development of the mountain walkway, as part of the Golden Jubilee Walk project, as well as the construction of internal roads in Al Misfah Industrial Area in the wilayat of Bausher, the report noted.

Billed as a key leisure and lifestyle project, the Golden Jubilee Walk will boast a 1,972m-long pedestrian walkway, a 1,972m- long and 3m wide bicycle path along with a plaza for taking rest and hiking (implemented by local investment companies), in addition to two sites equipped with equipment for physical sports.

The scope of work includes construction of two sites for physical sports as well as two kids’ play areas. In addition, 75 canopies are being set up for the visitors along with 140 parking lots for vehicles.

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Source: ME Construction News

Oman-based Al Khonji Real Estate & Development (Aqar) has launched its high-end integrated residential complex, Rimal 2. It is being developed near the dunes of the Bausher area, will feature a built-up area of 40,000sqm and will boast 148-units.

According to a statement, Rimal 2 is an extension of Rimal 1 and will provide all the required services and retail facilities for its residents, including a commercial mall that will be linked to a similar facility at Rimal 1. Within walking distance of the residences, it will be the largest commercial centre of its kind in the integrated residential complexes in Oman, the developer noted.

Aqar pointed out that the Rimal 2 launch comes following the success of Rimal 1, whose units sold out within two weeks of launch. Construction works will be undertaken by Al Binaa Contracting Company (a subsidiary of Aqar), and is scheduled for completion by the end of 2025.

The launch event also saw the signing of a strategic agreement with Bank Nizwa for providing finance to the bank’s customers keen to buy their own residential unit at Rimal 2. The bilateral co-operation between Bank Nizwa and Aqar is aimed at offering innovative and shariah-compliant real estate financing solutions to the customers, said Arif Al Zaabi, AGM Retail Banking at Bank Nizwa, after signing the deal with Mohammed bin Abdullah Al Khonji, the Chairman and CEO of Aqar.

“We have designed our real estate financing solutions to meet the different requirements of our growing customer base, while we are confident that, the new profitability rate is an exemplary rate for the retail customers who are interesting in utilizing the Shariah-compliant real estate financing solutions easily and flexibly,” stated Al Zaabi.

Al Khonji added, “There is no doubt that the company’s success of Rimal 1 and the great demand that it has received, as its units were sold within two weeks of its launch, was considered as a great incentive for us to launch our new project, (Rimal 2). Aqar is thoroughly committed to developing quality real estate projects ,that are built on the modern specification and provided with integrated services.”

Lauding the strategic location, Al Khonji said the Rimal complex is situated in the buzzling Bausher area, which has a number of well-known commercial centres including Oman Mall, Grand Mall, Panorama and Avenues Mall within driving distance as well as other service facilities.

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Source: ME Construction News

Global investment bank Houlihan Lokey has announced it has secured funding for Shapoorji Pallonji International Property Developers (SPIPD) to finance the completion of its Imperial Avenue residential development in Downtown Dubai.

SPIPD is the development arm of Shapoorji Pallonji, one of India’s largest business conglomerates, with a presence in the engineering and construction, infrastructure, real estate, water, energy and financial services sectors. The conglomerate has more than 70,000 employees across 70 countries.

Arun Reddy, Managing Director and Head of Middle East and Africa at Houlihan Lokey, commented, “This transaction marks an important milestone for the development of the Imperial Avenue project and for Dubai. We worked closely with the Real Estate Regulatory Authority (RERA) who helped facilitate the transaction, and we were able to leverage our global reach and access to international capital to secure the desired funding for our client alongside restructuring of the local bank.”

Imperial Avenue is Shapoorji’s flagship real estate project in the UAE. The 45-floor residential tower is currently 55% complete and is expected to reach completion by the end of next year.

“The transaction is a testament to Dubai’s attractiveness to international investors as well as Houlihan Lokey’s expertise and connectivity in the market. Dubai’s real estate market continues to offer the best relative value across 25 global cities,” said Reddy.

He added that the transaction confirms the positive market sentiment and international capital appetite for Dubai’s real estate market vis-à-vis other markets.

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Source: ME Construction News

Following a region-wide industry vote, the shortlist for the Construction Machinery Middle East Awards 2022 has been revealed by the magazine’s editorial staff. The inaugural Construction Machinery ME Awards is set to take place on Wed 25th May 2022 at the Radisson Red Dubai. On the night, there will be thirteen different award categories with a mixture of public vote and judge-voted winners.

Categories such as ‘Excavator of the Year’ and the increasingly important ‘Equipment Rental’ segment were open to a public vote which closed last week. Nominations for special categories such as ‘Innovation of the Year’ have also closed.

The votes have now been collected and verified with the winners set to be announced on the night.

“The fact that we received over 5,000 votes shows the continued importance of construction machinery to the region and the passion people have for driving the sector forward,” said Assistant Editor Mark Dowdall.

“Most of the categories have been tightly contested and every nominated company should be proud of the support they generated. There were so many deserving entries that I would have liked on the final shortlist as there is clearly tremendous work being done across the board. The final selection, however, reflects the best in class and what the market believes are the outstanding leaders in the machinery sector in the region.”

The Construction Machinery ME Awards 2022 is being supported by the following companies:

• Gold Sponsor: JLG
• Category Sponsor: Case Construction

Email: brian.fernandes@cpitrademedia.com or andy.pitois@cpitrademedia.com to discuss costs.

The Shortlist for the Construction Machinery ME Awards is as follows:

Excavator of the Year

• Case CX 220C LC-HD
• Caterpillar 345 GC Excavator
• Doosan DX220LCA-2 Tracked Excavator
• Hitachi ZX220LC-GI Excavator
• Sany Large Excavator SY750H

Earthmoving Machinery of the Year

• Bobcat S450 Skid Steer Loader
• Case 570T Backhoe Loader
• JCB 3CX Backhoe Loader
• Hitachi ZW310-5A Wheel Loader
• Volvo L220H Wheel Loader

Access Equipment of the Year

• Bobcat T35.140S Telescopic Handler
• Genie Z45 Articulated Boom Lift
• JLG 670SJ Self-Leveling Boom Lift
• Snorkel 400S Telescopic Boom Lift

Road-Making Machinery of the Year

• Ammann ARX 91 Articulated Tandem Roller
• Bomag BF 900 C Paver
• Dynapac CP275 Pneumatic Roller

Electric Machinery of the Year

• Bobcat E10e ZTS Mini-Excavator
• Genie Z45 FE Hybrid Articulated Boom Lift
• JLG DA Vinci AE1932 All-Electric Scissor Lift

Crane of the Year

• Comansa 16LC260 Flat-Top Crane
• Liebherr LTM 1100-5.2 Mobile All-Terrain Crane
• Manitowoc Grove GRT8100 Rough Terrain Crane
• Spider Plus URW 706 Mini-Crane
• Tadano GR-500EXL Rough Terrain Crane

Equipment Rental Company of the Year

• Al Faris
• Byrne rental
• Johnson Arabia
• O.Rentals
• QER Rental
• Rapid Access
• Safelift

Outstanding Manufacturer of the Year

• Bobcat
• Caterpillar
• Genie
• Hitachi
• Liebherr
• Manitowoc
• Sany
• Tadano

Distributor of the Year

• Al Futtaim
• Al Shirawi
• CMC
• Genavco
• Kanoo Machinery
• NFT
• United Motors

Innovation of the Year

• Doosan Bobcat
• Elevall
• Manlift Middle East
• MYCRANE

Lifting Achievement of the Year

• Johnson Arabia
• Salim Equipment Rental

The Construction Machinery Middle East team wishes everyone the best on the night. The winners will be announced the following day on MEConstructionNews.com, and their related social media channels.

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Source: ME Construction News

The route to greater autonomy in construction machinery will be highlighted at Bauma 2022, which is billed as the world’s leading trade fair for construction machinery, building material machines, mining machines, construction vehicles and construction equipment.

Machines that drive and work autonomously are among the big visions for the future of the construction industry but “true autonomy in construction machines is highly unlikely in the foreseeable future, because there are complex technical and safety-related challenges,” says Tim-Oliver Müller, Director of the Hauptverband der Deutschen Bauindustrie e.V.

He believes that it is far more realistic and achievable for the construction industry to develop and use ‘intelligent’ construction machines with semi-automated, automated or supporting functions and to do so for selected construction processes, such as in earthworks, road construction or special heavy construction.

“Such solutions have the potential for noticeable increases in efficiency and productivity,” according to Müller. The industry expert points out that intelligent machines could relieve machine operators of repetitive and tiring activities while remaining independent of their individual tasks – an advantage that could be crucial in times when there is a shortage of skilled workers.

The global machinery event will take place from 24-30 October in Munich where further insights into the industry can be expected.

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Source: ME Construction News

Dur Hospitality Company has signed up Al Murshid Contracting Group for the expansion and development of the Rixos Jeddah Resort, which is billed as a premium, 174-room property in the city of Jeddah in Saudi Arabia.

In a filing to the Saudi bourse Tadawul, Dur Hospitality said the contract is worth $48.5mn and that Al Murshid has been tasked with transforming the resort into a premier luxury hospitality destination in Jeddah. The timeline for completion of work is within 18 months, the statement added.

Once complete, the resort will feature two restaurants, a health club, swimming pool, an integrated children’s club and banquet halls, in addition to gardens and outdoor infrastructure.

The expansion and development of the resort comes as part of Dur Hospitality’s strategic plan to enhance its position and leadership in the Kingdom’s hospitality sector, and is in line with efforts to improve the quality of life under Saudi Arabia’s Vision 2030 programme.

The expected positive financial impact of this contract will start from the last quarter of 2023, the developer said.

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Source: ME Construction News

AlShahd Jordan Real Estate Development Company has announced the completion of AlShahd 2’s infrastructure works, in compliance with the Ministry of Local Administration’s requirements.

In a statement, the developer said that work on the Jordan-based project included rehabilitation of the surrounding road network, building of a community garden, gates and pedestrian pathways, as well as concrete curbs to the road network and planted greenery, which reflects the company’s policy of ensuring sustainability is an integral part of its projects.

Wael Qassem, Nobles Properties’ Managing Director said, “We made sure the infrastructure works applied the highest technical standards possible and finished well within schedule.” He also confirmed that the infrastructure works included the laying of road, water, and electricity networks.

“We are committed to adding value to our developments, so we’ve also invested in aesthetic features that enhance the environment for Nobles’ customers,” he emphasised.

With engineering efforts complete, Qassem said that Nobles Properties is now focused on completing the official paperwork necessary to hand over plots to their respective owners, ready for construction to begin.

Omar Ayesh, Chairman of the Nobles Group Board of Directors, congratulated his team on the timely completion of engineering and landscaping activity. He added that such accomplishments are an important continuation of successfully developed projects in the Jordanian real estate market. Ayesh also reiterated the group’s commitment to the Hashemite kingdom, indicating that preparations were underway for the sale of AlShahd 3 plots in May 2022.

The upcoming launch is one of several projects in the pipeline valued at over US $100mn in the residential, hospitality and industrial sectors. It is part of the group’s goal of developing sustainable, environmentally friendly projects with distinctive features, he added.

The developer had recently announced it had sold out the AlShahd 2 within days of a private offering to existing clients, which the company deemed an exceptional accomplishment within the Jordanian property market.

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Source: ME Construction News

Saudi Basic Industries Corporation (SABIC) has begun the start-up of pre-commissioning activities at a polycarbonate production complex in the Tianjin Binhai New Area of China, the company has said.

In its filing to the Saudi Arabian bourse Tadawul, SABIC said that the project is being developed by Sinopec Sabic Tianjin Petrochemical Company (SSTPC), which is a joint venture between SABIC and the Chinese energy giant Sinopec.

Earlier media reports have stated that SABIC will be setting up the industrial complex for the production of polycarbonate in China at a total investment of $1.7bn in partnership with Sinopec. Covering an area of 670,000sqm, the complex is part of Phase Two of the project and has been approved by China’s National Development and Reform Commission (NDRC).

Phase One of the project began production in January 2010 and has an annual capacity of one million metric tonnes of ethylene. The financial impact of the project will be reflected after the pre-commissioning activity and start of commercial operation, the filing concluded.

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Source: ME Construction News

Union Properties has announced revenues of $28.8mn in Q1 2022, up by 7.6% compared to the $26.7mn posted last year. This increase in revenues has been driven by the continued rebound of Dubai’s real estate sector and a significant improvement in performance from the group’s subsidiaries, the developer said in a statement.

Announcing its financial results for the quarter ended March 31, 2022, Union Properties said it had recorded a net loss of $3.40mn during the quarter compared to a net profit of $1.52mn last year, primarily due to finance costs of $4.62mn related to legacy debt. It added that the new management team continues to make progress on restructuring. The comparative period in 2021 also included one-off gains of $1.87mn from the sale of an asset, the statement continued.

On the company’s performance, Managing Director Amer Khansaheb said the group saw an improved quarter for Union Properties as it increased the revenues and drove cost efficiencies across the business.

“We are also beginning to see the benefits of our business turnaround strategy and are confident that we will see further positive progress in the months ahead. In the meantime, our focus remains on addressing the company’s legacy issues head on, restructuring our debt and rebuilding shareholder trust,” he said.

Union Properties subsidiary, Dubai Autodrome, reported a 38% year on year increase in revenues and 61.2% increase in net profit this quarter due to the launch of the Motorsport Business Park 2 warehouse complex. There was also increased uptake in corporate group packages and major international motorsport events that took place during the quarter, the company stated.

As per the statement, the earnings before interest and tax (EBIT) remain in the same range, amounting to $1.36mn compared to the same quarter in 2021, despite the one-off gains of $1.87mn due to the sale of assets in 2021 and additional legal costs of $598,949 related to claims from a prior period in Q1 2022 which is reflecting management’s focus on optimising costs, restructuring its operations, and delivering efficiencies across the business.

This positive progress led to a 21.2% year-on-year decline in administrative and general expenses in Q1, it highlighted.

The merging of property management and cold store management operations with EDACOM was a significant factor in reducing costs and improving operational efficiencies this quarter, the statement concluded.

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Source: ME Construction News