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REAL ESTATE

TRSDC launches design contest for Red Sea Coastal Village unit
August 11, 2020

The Red Sea Development Company (TRSDC), the developer behind one of the world’s most sustainable tourism projects, has announced the launch of a competition for Saudi architecture students to design the new community centre for the development’s Coastal Village.

The ‘Ecotecture” Design"...

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South Florida attracts Middle East real estate investors
August 5, 2020

DUBAI — For Middle Eastern commercial real estate funds and investment firms, the US market is still the most desirable investment destination for foreign real estate properties.

Roxanne Kosberg said: “Investors from the Middle East remain active buyers in the global real estate market and continue to target core assets in safe-haven locations. The recent decline in oil price only strengthened the case for investors to diversify their income"...

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Masdar-EDF achieves construction milestone at 400MW Saudi project
July 30, 2020

Abu Dhabi Future Energy Company (Masdar) said its consortium with French group EDF Renewables has achieved a major construction milestone at its 400MW utility-scale wind farm project in Saudi Arabia with the arrival of 20 wind turbines at Duba Port.

Dumat Al Jandal will be Saudi Arabia’s first wind farm"...

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MariMatic wins Makkah waste collection contract
July 30, 2020

MariMatic, a specialist in automated solid waste collection systems (AWCS) and vacuum conveying systems for underground waste collection, said it has been signed up to deploy its key MetroTaifun systems in the Saudi city of Makkah.

The latest design, build and operate contract from Umm Al Qura Development and"...

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Aramco awards Siemens key deal for reservoir project
July 30, 2020

Siemens Energy has been selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project.

The plant includes a gas injection facility with a capacity of 1,500 million standard cu ft per day (MMSCFD) (42,475,270 cu m per day) and a withdrawal facility capable of processing up to 2,000 MMSCFD of 56,633,693 cum of gas.

Siemens Energy received the order from Samsung Engineering,"...

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Walton Expands U.S. Homebuilder BOLD Funds to Support Demand for New Single-Family Home Market
July 28, 2020

Walton, a real estate investment and land asset management company with US$3.39 billion under management and administration, has expanded its Builder Option Land Development Funds (BOLD Funds), with an investment objective of raising capital to acquire land identified by large U.S. homebuilders for near-term residential development projects.

The collective $500 million in BOLD Funds --"...

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Instinctif Partners, Advert One in key IPO advisory role for Amlak
July 28, 2020

Instinctif Partners, a leading international business communications consultancy and Advert One, a specialist in financial communication services, said they have completed their role in providing strategic communications counsel and public relations to Saudi Arabia's leading non-bank real estate lender, Amlak International, for its IPO on the Saudi Stock Exchange.

Established"...

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Modon awards Dh1.93bn of contracts at Riyadh City South
July 23, 2020

Modon Properties, the developer owned by Abu Dhabi's state holding firm ADQ, awarded the final two infrastructure contracts for its Riyadh City South project with a value of Dh1.83 billion.

The award of infrastructure works for phases three and four at the new city, which is being developed in partnership with the Abu Dhabi Housing Authority, brings the total value of contracts awarded"...

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Materials Handling Saudi postponed to November 2022
July 23, 2020

Messe Frankfurt Middle East, one of the region's largest exhibition organisers, has announced the postponement of this year's edition of Materials Handling Saudi Arabia, a biennial event dedicated to the warehousing, intralogistics, and supply chain sectors, to November 2022.

The third edition of Materials"...

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Saudi residential market active in Q2, may see shift towards rental
July 22, 2020

Saudi Arabia’s real estate sectors remained soft during the second quarter, although the residential market remained somewhat active and saw several key projects delivered across the kingdom’s major cities, according to leading real estate industry expert JLL.

The 2020 mid-year review report, however,"...

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