Local firm wins Emaar The Valley residences contract
18 April 2025
UAE-based real estate developer Emaar Properties has appointed local contractor Parkway International Contracting (PIC) to build the Venera community at its The Valley development on the Dubai-Al-Ain road.
MEED understands that PIC’s scope of work covers the construction of 696 three- to four-bedroom townhouses at the Venera community.
The local Mirage Leisure & Development is the project consultant.
PIC is already executing several projects at The Valley development. In January last year, MEED exclusively reported that Emaar Properties had appointed PIC to build the Elora and Lillia communities.
PIC’s scope on these projects covers the construction of 430 units at the Elora community and 403 units at Lillia.
Elora will feature 284 three-bedroom and 146 four-bedroom townhouses.
In 2021, Emaar awarded the first construction contract to build The Valley’s first cluster, named Eden Villas, to the local Ginco General Contracting.
The design of Eden Villas features cycling and jogging tracks, play areas, a community centre and central gardens.
Local firms Whitespace and Consistent Engineering were involved in the project as the architect and the mechanical, electrical and plumbing consultant, respectively. The project was completed in the second half of 2023.
Several other packages, including Nara, Orania, Talia, Rivana and Farm Gardens, are under execution.
The Valley was launched in November 2019. Emaar Properties’ founder Mohamed Alabbar told local media at the time that the project would comprise “4,500 residential units spanning an area of 200 hectares” and would be “the Arabian Ranches of the future”.
MEED’s May 2025 report on the UAE includes:
> GOVERNMENT & ECONOMY: UAE looks to economic longevity
> BANKING: UAE banks dig in for new era
> UPSTREAM: Adnoc in cruise control with oil and gas targets
> DOWNSTREAM: Abu Dhabi chemicals sector sees relentless growth
> POWER: AI accelerates UAE power generation projects sector
> CONSTRUCTION: Dubai construction continues to lead region
> TRANSPORT: UAE accelerates its $60bn transport push
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The Al-Rjum gold mining and processing facility, located in Medina province, is expected to be commissioned by the end of 2027. It will become the largest gold mining operation in Saudi Arabia when operational.
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The two contractors submitted bids for the water pipeline project on 1 July, sources told MEED.
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The Al-Rjum gold mining and processing facility will have an output capacity of 250,000 ounces of gold a year. The project will increase Maaden’s total gold production to 700,000 ounces a year by 2028, helping the company support Saudi Arabia’s overall goal of doubling gold production by 2030 and achieving a four-fold increase in output by 2040.
MEED recently reported that Maaden had received bids for a tender to develop accommodation facilities for over 4,500 of its workers at the upcoming Al-Rjum gold mining and processing facility.
Bids for the Al-Rjum worker accommodation tender, which is also under the BOOT model, were submitted in late June. The operations and maintenance period for this contract is 15 years.
ALSO READ: Saudi Arabia and Oman open up their minerals potential
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Bahrain and US sign nuclear energy agreement
17 July 2025
Bahrain and the US have signed a cooperation agreement covering the field of peaceful nuclear energy.
The agreement aims to enhance collaboration in nuclear energy, recognising its vital role in sustainable development and energy security. It aligns with Bahrain's ambitious goal of achieving carbon neutrality by 2060 and contributes to global efforts to combat climate change.
As Bahrain explores alternative energy sources, senior officials have previously indicated to MEED that they are closely monitoring developments in small modular reactor (SMR) technology. This is particularly crucial for Bahrain, where limited land availability poses challenges for solar energy projects. Floating solar plants have been identified as a potential solution, but the exploration of nuclear energy and SMRs remains a priority for future energy diversification.
The agreement was signed during an official visit to the US by Prince Salman Bin Hamad Al-Khalifa, the crown prince and prime minister of Bahrain.
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Al-Zayani added that the agreement builds upon the Comprehensive Security Integration and Prosperity Agreement (C-SIPA) signed in 2023. The agreement aims to strengthen cooperation in defence, security, emerging technologies, trade and investment.
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Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
> AGENDA: UAE-Turkiye trade gains momentum> INTERVIEW 1: Building on UAE-Turkiye trade> INTERVIEW 2: Turkiye's Kalyon goes global> INTERVIEW 3: Strengthening UAE-Turkiye financial links> INTERVIEW 4: Turkish Airlines plans further growth> CURRENT AFFAIRS: Middle East tensions could reduce gas investments> GCC REAL ESTATE: Gulf real estate faces a more nuanced reality> PROJECTS MARKET: GCC projects market collapses> INTERVIEW 5: Hassan Allam eyes role in Saudi Arabia’s transformation> INTERVIEW 6: Aseer region seeks new investments for Saudi Arabia> LEADERSHIP: Nuclear power makes a global comeback> LEVANT MARKET FOCUS: Levant states wrestle regional pressures> GULF PROJECTS INDEX: Gulf projects index continues climb> CONTRACT AWARDS: Mena contract award activity remains subdued> ECONOMIC DATA: Data drives regional projects> OPINION: A farcical tragedy that no one can endTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/14281751/main.jpeg -
Kuwaiti firm wins $53m Duqm coastal road contract
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Kuwaiti contractor Combined Group Contracting Company (CGCC) has won a RO20.6m ($53m) contract to construct coastal roads in Duqm.The scope of work covers the construction of roads with a total length of 14 kilometres, including a coastal road, a proposed service road, an extension to an existing service road, a resort street, four roundabouts, future extensions and proposed links.
The contract duration is two years from the start date of construction.
MEED reported in August 2023 that CGCC had emerged as the lowest bidder for the project.
GlobalData estimates that the construction industry in Oman will grow by 3.6% in real terms in 2025, supported by rising foreign direct investment (FDI) in the country, particularly in the manufacturing sector, as well as investment in the energy and transport sectors.
The infrastructure construction sector is estimated to grow by 5.7% in 2025, before recording an annual average growth of 5.2% between 2026 and 2029, supported by the government’s investment in upgrading road and airport infrastructure.
CGCC’s contract win in Oman comes shortly after a key contract win in the UAE, worth AED685m ($186m).
The scope of work under this contract encompasses the upgrade works on Emirates Road, from the Al-Badea intersection in Sharjah to the E55 intersection in Dubai.
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The contract duration is 25 months.
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Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
> AGENDA: UAE-Turkiye trade gains momentum> INTERVIEW 1: Building on UAE-Turkiye trade> INTERVIEW 2: Turkiye's Kalyon goes global> INTERVIEW 3: Strengthening UAE-Turkiye financial links> INTERVIEW 4: Turkish Airlines plans further growth> CURRENT AFFAIRS: Middle East tensions could reduce gas investments> GCC REAL ESTATE: Gulf real estate faces a more nuanced reality> PROJECTS MARKET: GCC projects market collapses> INTERVIEW 5: Hassan Allam eyes role in Saudi Arabia’s transformation> INTERVIEW 6: Aseer region seeks new investments for Saudi Arabia> LEADERSHIP: Nuclear power makes a global comeback> LEVANT MARKET FOCUS: Levant states wrestle regional pressures> GULF PROJECTS INDEX: Gulf projects index continues climb> CONTRACT AWARDS: Mena contract award activity remains subdued> ECONOMIC DATA: Data drives regional projects> OPINION: A farcical tragedy that no one can endTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/14281451/main.gif -
Algeria awards $855m contract for gas production project
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Algeria’s national oil and gas company Sonatrach has awarded an $855m contract to China’s Jereh Group for a project to develop facilities at the Rhourde Nouss gas field.
Jereh Group said that its subsidiary Jereh Oil & Gas Engineering will build a natural gas booster station in the Rhourde Nouss gas field and upgrade and renovate related transmission pipelines.
The Yantai-based company cited a letter of award from Sonatrach and said that the contract will boost the company's footprint in North Africa’s oil and gas engineering service sector.
The Rhourde Nouss boosting project will centralise the boosting of natural gas produced by the gas field and the adjacent Gassi Touil gas field, to improve their production efficiency and natural gas processing capacity, the company said.
Sonatrach, the largest gas producing company in Africa and the largest state-owned enterprise in Algeria, will pay $629.1m and $226m for the construction of the project, Jereh said.
Jereh's growing footprint
Jereh has been expanding overseas in recent years and has won contracts with major Middle Eastern oil and gas clients, including Saudi Aramco, Abu Dhabi National Oil Company (Adnoc) and Kuwait Petroleum Corporation.
In June 2021, the company was awarded a contract for the design, procurement and construction of a gas debottlenecking project in Algeria.
The project was located in the Bir Rebaa Nord and Rhourde Ouled Djemma fields, which are located in the eastern Algerian desert, about 300 kilometres southeast of Hessi Messaoud.
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Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
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Riyadh Expo appointments are the launchpad for construction
17 July 2025
Commentary
Colin Foreman
EditorIt has been nearly two years since Saudi Arabia was selected as the host country for the World Expo 2030.
The vote was effectively the starting gun for the region’s largest and most challenging construction projects. The event will be hosted at a purpose-built venue on the outskirts of Riyadh, which is expected to require billions of dollars in construction spending and, perhaps more importantly, must be completed in time for the Expo’s opening in 2030.
Apart from a few high-level meetings with various stakeholders, there had been little update on the project since November 2023.
One of the key issues was the entity responsible for delivering it. That question was answered in June when the Public Investment Fund (PIF) launched Expo 2030 Riyadh Company (ERC) as a wholly owned subsidiary to build and operate facilities for Expo 2030.
A few days later, Talal Al-Marri was appointed as the CEO of the new entity.
Now, in July, US-based Bechtel has announced its appointment as the project management consultant (PMC) for the Expo.
These important updates serve as the launchpad for construction to begin. With the project leadership now established, attention can shift to actual construction. MEED recently reported that contractors have submitted bids for a contract to build the site offices required for initial construction works at the Expo site.
The pace of tendering and contract awards will ramp up sharply over the next two years. Experience from Dubai, which hosted Expo 2020, shows that after being initially selected for the event, a period of about two years follows as bureaucratic structures are established. It is worth noting that Dubai appointed its PMC team, comprising UK-based Mace and US-based CH2M (now part of Jacobs), in December 2014.
Construction activity then quickly ramps up, and in the case of Dubai, over $5bn of Expo-related contracts were awarded during the 2016-18 period.
For Riyadh, which is hosting the event exactly 10 years later, there will need to be a similar value and volume of work awarded during 2026-28 if the project is to be finished in time for 2030.
READ THE JULY 2025 MEED BUSINESS REVIEW – click here to view PDFUAE and Turkiye expand business links; Renewed hope lies on the horizon for trouble-beset Levant region; Gulf real estate momentum continues even as concerns emerge
Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
> AGENDA: UAE-Turkiye trade gains momentum> INTERVIEW 1: Building on UAE-Turkiye trade> INTERVIEW 2: Turkiye's Kalyon goes global> INTERVIEW 3: Strengthening UAE-Turkiye financial links> INTERVIEW 4: Turkish Airlines plans further growth> CURRENT AFFAIRS: Middle East tensions could reduce gas investments> GCC REAL ESTATE: Gulf real estate faces a more nuanced reality> PROJECTS MARKET: GCC projects market collapses> INTERVIEW 5: Hassan Allam eyes role in Saudi Arabia’s transformation> INTERVIEW 6: Aseer region seeks new investments for Saudi Arabia> LEADERSHIP: Nuclear power makes a global comeback> LEVANT MARKET FOCUS: Levant states wrestle regional pressures> GULF PROJECTS INDEX: Gulf projects index continues climb> CONTRACT AWARDS: Mena contract award activity remains subdued> ECONOMIC DATA: Data drives regional projects> OPINION: A farcical tragedy that no one can endTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/14281675/main.jpg