Related Articles

• 
  DP World awards Jafza warehouse construction deal

  18 March 2026

  Dubai-based ports operator DP World has awarded a contract to build a multi-tenant warehouse development at Jebel Ali Freezone in Dubai, UAE.

  The contract was awarded to local firm Group Amana.

  The development spans 141,916 square metres (sq m) and comprises 187 units across seven blocks.

  These comprise warehouses, light industrial units, a retail shop, a mosque and other associated infrastructure.

  The new contract builds on their existing partnership to deliver the logistics park at Jeddah Islamic Port in Saudi Arabia.

  In February last year, MEED exclusively reported that Dubai’s DP World and the Saudi Ports Authority (Mawani) had awarded a SR347m ($92m) design-and-build contract to Group Amana for the project.

  The scope of the contract covers construction work on the buildings under package two of the project’s first phase.

  Earlier this week, MEED reported that DP World has kept its 2026 capital expenditure budget at nearly $3bn, focusing on two domestic assets and four overseas projects.

  The company said in a statement that the priority developments include Jebel Ali and Drydocks World in Dubai.

  Earlier this month, the group announced record financial results for 2025, with revenue up 22% to $24.4bn and adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) up 18% to $6.4bn, delivering a 26.3% margin.

  DP World said this performance was driven by strong momentum across its ports and terminals and logistics business.

  The group’s gross throughput rose 5.8% to 93.4 million 20-foot equivalent units.

  Profit for the year increased 32.2% to $1.96bn, and operating cash flow grew 14% to $6.3bn.

  Return on capital employed increased to 9.9% in 2025, up from 8.9% in 2024, reflecting stronger earnings despite ongoing geopolitical and trade uncertainty.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16026660/main.png

  Yasir Iqbal
• 
  Egyptian firm starts building Sal’s Riyadh logistics centre

  18 March 2026

  Egyptian contractor Rowad Modern Engineering, a subsidiary of the Elsewedy Electric Group, has begun construction on the expansion of Saudi Logistics Services Company (Sal) facilities at King Khalid International airport in Riyadh.

  The scope of work includes the rehabilitation and upgrade of existing infrastructure, as well as the construction of new supporting facilities and services.

  Sal started the tendering process for its SR4.2bn ($1bn) logistics zone in the north of Riyadh in September last year, as MEED reported.

  UAE-based Global Engineering Consultants is the project consultant.

  The logistics hub aims to meet the demand for customised warehouses located near King Khalid International airport and the Riyadh Metro.

  The project is in line with Vision 2030 and the National Transport & Logistics Strategy, which aims to support the kingdom’s logistics sector and enhance Saudi Arabia’s position as a global logistics hub.

  Sal and Sela signed an agreement to develop the project in March last year.

  This was followed by another lease agreement for the project, which will span about 1.57 million square metres. 

  According to an official statement: “The lease will extend for 30 years, which is further extendable to an additional 15 years upon agreement of both parties.”

  GlobalData expects the kingdom’s construction industry to record an annual average growth rate of 5.2% in 2025-28, supported by investments in transport, electricity, housing and tourism infrastructure projects, as well as the $850bn-plus gigaprojects programme.

  Growth will also be supported by government investments in rail, dams, industrial and road infrastructure projects. 

  The industrial sector is estimated to grow by 3.3% in 2025-28, supported by investments in the development of manufacturing, logistics, chemicals and pharmaceuticals plants.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16026154/main.gif

  Yasir Iqbal
• 
  Jabal Omar plans next phase of its Mecca development

  18 March 2026

  Saudi Arabian developer Jabal Omar Development Company is carrying out planning for phase seven of its Jabal Omar master development in Mecca, according to a fourth-quarter 2025 financial presentation.

  The company said phase seven will be a mixed-use scheme comprising hotels, retail and residential components, but did not disclose a breakdown of the project elements.

  Jabal Omar plans to use a development partnership model for the phase to minimise capital expenditure.

  Separately, the developer said it is targeting the delivery of 1,346 hotel keys and more than 20,000 square metres of gross leasing area in phase four by 2027.

  Rotana Jabal Omar Makkah, comprising 655 keys, is due to be fully operational in the first quarter of 2026, after 450 keys began operating in the final week of December 2025.

  The 1,141-key Sofitel is scheduled to become operational in the fourth quarter of 2026, while the 20,000 square metres of gross leasable area is expected to be ready in 2027.

  Jabal Omar estimates its 2026 capital expenditure at SR1.1bn ($293m), with spending expected to fall once the phase four hotels are completed.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16026145/main.png

  Yasir Iqbal
• 
  Egypt styrene project design complete

  18 March 2026

  Early design work has been completed for a planned styrene production project in Egypt’s Alexandria region, according to information released by state-owned Egyptian Petrochemicals Holding Company (Echem).

  The front-end engineering and design (feed) has now been finished for the 300,000-tonne-a-year project, and investment costs are currently under evaluation.

  The plant is planned to be built in El-Dekheila in Alexandria, where around 104,000 square metres of land have been allocated for the facility.

  Early site preparation works have been completed, and startup is currently targeted for 2030, according to Echem.

  The styrene technology licence agreement has been signed, and the total investment cost is being evaluated.

  The shareholding structure of the project company is still under study and feedstock requirements for the plant are expected to include:

  • 85,000 tonnes a year of ethylene, which is expected to be supplied locally
  • 235,000 tonnes a year of benzene, part of which is expected to be imported

  Egypt’s chemicals sector has been disrupted by the US and Israel’s war with Iran.

  The war has led to high liquefied natural gas (LNG) prices and Israel shutting off gas flows into the country.

  ---

  MEED’s March 2026 report on Egypt includes:

  > COMMENT: Egypt’s crisis mode gives way to cautious revival
  > GOVERNMENT: Egypt adapts its foreign policy approach
  > ECONOMY & BANKING: Egypt nears return to economic stability
  > OIL & GAS: Egypt’s oil and gas sector shows bright spots
  > POWER & WATER: Egypt utility contracts hit $5bn decade peak
  > CONSTRUCTION: Coastal destinations are a boon to Egyptian construction

  To see previous issues of MEED Business Review, please click here

   

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16024817/main.jpg

  Wil Crisp
• 
  Egypt seeks financing for major petrochemicals project

  18 March 2026

  Egypt is working on the financing arrangements for an integrated refining and petrochemicals complex in the Suez Canal Economic Zone (SCZone), which will have a capacity of 3.5 million tonnes a year, according to information provided by the state-owned Egyptian Petrochemicals Holding Company (Echem).

  Front-end engineering and design (feed) for the first phase and a financing arrangement are under way for the project, which will be implemented by Red Sea National Petrochemicals Company (RSNPC).

  A process design package (PDP) covering 14 technology licences has been issued, defining the configuration of the complex, which is estimated to be worth several billion dollars.

  A land agreement for the project has been signed, and permits and regulatory approvals are being obtained, Echem said.

  The project has stalled for more than three years due to financial issues, but Echem is optimistic about progress.

  A company has already been established to develop and operate the facility and startup is currently targeted for the second quarter of 2030, according to Echem.

  The project will cover an area of 3.56 million square metres. The project integrates both a refinery and a mixed-feed cracker.

  Phase 1 will produce polyethylene (PE) and polypropylene (PP).

  Phase 2 will add the production of benzene, polyethylene terephthalate (PET), paraxylene, mono ethylene Glycol (MEG), di-ethylene glycol (DEG) and purified terephthalic acid (PTA).

  In July 2025, RSNPC and China National Chemical Engineering Company (CNCEC) signed a non-binding framework agreement for the project in Beijing.

  Egypt’s Ministry of Petroleum & Mineral Resources has said that CNCEC has expressed its willingness to potentially contribute to the project’s equity and possibly help arrange financing covering up to 85% of the value of the project’s engineering, procurement and construction (EPC) contracts.

  In April 2025, a consortium of CNCEC, along with Egypt’s Petrojet and Enppi, was awarded the feed contract for phase 1.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16024816/main.jpg

  Wil Crisp