Related Articles

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  Developers break ground on W Residences Dubai

  9 June 2025

  Dubai free zone operator Dubai Multi Commodities Centre (DMCC) and local real estate developer Signature Developers have officially broken ground on W Residences Dubai – Jumeirah Lakes Towers (JLT).

  The project, which is being developed in collaboration with Marriott International, involves the construction of a 38-storey tower that will have 33 residential floors, three basements, two podiums, a ground floor and an amenities level.

  Altogether, it will have 185 residences, including one-, two- and three-bedroom units as well as four-bedroom penthouses.

  DMCC and Signature Developers announced the project in 2024. According to regional projects tracker MEED Projects, the project is at the main contract bid stage. The contractor for the foundation works is TMF Euro Foundations. The development manager is South Africa’s Mirage Leisure & Development. The architect is MAD Architects.

  Uptown project

  DMCC is also developing other tower projects in Dubai. In May this year, MEED reported that it had appointed local construction firm Ali & Sons as the main contractor to build the estimated AED1bn ($272m) next phase of its Uptown Dubai development.

  The second phase includes constructing two 28- and 21-storey mid-rise towers featuring approximately 67,500 square metres (sq m) of commercial space and 5,000 sq m for retail and food and beverage outlets.

  The construction work began last year when local enabling contractor Swissboring started the foundation works on the project.

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  Colin Foreman
• 
  Saudi Arabia evaluates 2km tower bids

  9 June 2025

  

   

  Register for MEED’s 14-day trial access 

  Saudi Arabia’s Public Investment Fund (PIF) has received offers from firms for a contract to provide project management consultancy (PMC) for a new central business district (CBD) on the outskirts of Riyadh, which includes the proposed 2-kilometre megatall tower project.

  The PMC role covers both the tower and the surrounding district. The request for proposals is understood to have been issued by a PIF subsidiary known as the Tower District Real Estate Development Company.

  The firms invited to bid were understood to include Aecom, Jacobs, Parsons and Turner, all US-based, and the UK’s Mace.

  UK-based Foster & Partners is working as the architect on the tower after it won a design competition launched in late 2022.

  Record breaker

  The proposed tower will be more than double the height of the world’s tallest building, Dubai’s Burj Khalifa, which is 828 metres tall. It is expected to be at least several hundred metres taller than the 1,000-metre-plus tall tower that is being built in Jeddah.

  Contractors that have priced megatall towers in the region say a 2km-tall structure could cost about $5bn to construct, depending on the final design.

  The 2km tower and the surrounding CBD, which are known as Project Rise, sit within a larger masterplanned development to the north of Riyadh called the North Pole.

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  MEED’s latest report on Saudi Arabia includes:

  > GOVERNMENT: Riyadh takes the diplomatic initiative
  > ECONOMY: Saudi Arabia’s non-oil economy forges onward
  > BANKING: Saudi banks work to keep pace with credit expansion
  > UPSTREAM: Saudi oil and gas spending to surpass 2024 level
  > DOWNSTREAM: Aramco’s recalibrated chemical goals reflect realism
  > POWER: Saudi power sector enters busiest year
  > WATER: Saudi water contracts set another annual record
  > CONSTRUCTION: Reprioritisation underpins Saudi construction
  > TRANSPORT: Riyadh pushes ahead with infrastructure development
  > DATABANK: Saudi Arabia’s growth trend heads up

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  Colin Foreman
• 
  Jordan pushes ahead with gas plans

  9 June 2025

  

   

  Jordan has pushed ahead with plans to increase liquefied natural gas (LNG) imports and domestic gas production in recent months to meet growing domestic energy demand.

  The country is developing a new LNG terminal and has signed significant deals to boost imports. It is also inviting companies to participate in a project to boost domestic production.

  Jordan relies heavily on natural gas for its power and industrial needs. In 2022, natural gas was the country’s largest source of electricity generation, generating 73% of all electricity consumed in the country.

  Aqaba terminal

  In August 2024, Jordan’s Aqaba Development Corporation (ADC) awarded the main contract for a project to develop the Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah LNG onshore regasification facility in Jordan’s port of Aqaba.

  The contract was won by a consortium of Singapore-based AG&P and South Korea’s Gas Entec, along with their local partner, Jordan’s Issa Haddadin.

  AG&P has majority ownership of Gas Entec, and ADC is owned by the Government of Jordan and the Aqaba Special Economic Zone Authority.

  The facility will have the capacity to process 720 million standard cubic feet a day (cf/d) of natural gas.

  The exact value of the contract was not disclosed by ADC or the consortium awarded the project, but the facility has been estimated to be worth about $1bn by regional projects tracker MEED Projects.

  The $1bn price tag makes it the biggest active project that has progressed beyond the study stage across Jordan’s oil, gas and chemical sectors, according to MEED Projects data.

  The project was originally scheduled to be completed, commissioned and delivered within 22 months, with the project due to be commissioned by the second quarter of 2026.

  The new permanent LNG import terminal is expected to replace an existing floating storage regasification unit (FSRU) located in Aqaba port that began operations in 2025.

  Egyptian deal

  While Jordan waits for the permanent Aqaba terminal to come online, authorities in the country have had to make interim deals to meet domestic energy demand.

  In December, Jordan and Egypt signed an agreement that enables Jordan to use Egypt’s FSRUs for a period of two years.

  The agreement was signed in Cairo by the director-general of Jordan’s National Electric Power Company (Nepco), Sofyan Batayneh, and the chairman of Egyptian Natural Gas Holding Company (Egas), Yassin Mohamed.

  Jordan’s Minister of Energy and Mineral Resources Saleh Kharabsheh called the agreement “a milestone” in Jordanian-Egyptian energy cooperation.

  He also said it could potentially increase resource efficiency and cut costs for Jordan.

  Under the agreement, Jordan will have priority access to Egypt’s FSRUs, with 350 million cf/d of natural gas allocated to meet Jordan’s needs.

  The cost of Jordan’s LNG shipments is expected to be around $3m each, with an additional $5m for transport via the Egyptian gas network.

  Total annual costs are capped at $10m, a far lower cost than the $70m spent on imports via the Aqaba floating LNG terminal, according to a statement released in December.

  Under the current plans, Jordan will rely on Egypt’s FSRUs until 2026, when the land-based regasification facility under construction in Aqaba is expected to become operational.

  Boosting domestic production

  At the same time as investing in infrastructure that will make it possible to import large volumes of natural gas, the country is also trying to boost domestic gas production to reduce its reliance on natural gas.

  A key focus for Jordan when it comes to increasing domestic production is the Risha gas field, which is located in northeast Jordan, 370 kilometres east of Amman, near the Iraqi border.

  The field has been producing since 1989, but over recent months, there has been increased optimism about its potential to meet a much higher proportion of domestic energy needs.

  Speaking at a ceremony in May, Kharabsheh said that the government was working to fully meet the kingdom’s natural gas needs from the Risha gas field within the next five years through the efforts of National Petroleum Company (NPC).

  His comments came after the Ministry of Energy & Mineral Resources released the results of gas exploration in the area in November last year.

  According to the results published by the ministry, the medium estimate for gas reserves in the area suggests that the field holds 11.99 trillion cubic feet of in-place reserves, with 39% or 4.675 trillion cubic feet potentially recoverable.

  The lower-end estimates indicated reserves of 9.39 trillion cubic feet, with 30% recoverable, amounting to around 2.835 trillion cubic feet.

  The highest estimate placed reserves at 14.6 trillion cubic feet, with a potential 43% recovery rate, amounting to 6.35 trillion cubic feet.

  Since 2022, the Jordanian government has directed significant resources to oil and gas exploration, with NPC leading studies in cooperation with international experts.

  The final phase of the most recent exploration assessments included reserve certification by Beicip-Franlab, a leading French energy consultancy.

  Development plans

  As part of the initiative to further develop the Risha field, there are plans for more drilling and a gas pipeline.

  In April, NPC issued an invitation to companies to submit prequalification documents to participate in a tender for a contract to drill 80 wells at the field.

  The drilling campaign is part of a broader push to try to boost gas production to 200 million cf/d by the end of the decade.

  Plans are also under way to build a 320km gas pipeline connecting the Risha field to Al-Khanasri.

  The first phase of the pipeline is expected to transport 150 million standard cf/d, with the second phase expanding its capacity to 500 million cf/d.

  While Jordan pushes ahead with plans for more drilling and more infrastructure at the Risha field, there are no guarantees that this will lead to a large increase in domestic production.

  The simultaneous expansion of the country’s LNG import capabilities means that natural gas is set to remain a major part of the country’s energy mix for some time to come.

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  Wil Crisp
• 
  Algeria invites foreign companies to develop gold reserves

  9 June 2025

  Algeria’s state-owned mining company has invited local and foreign investors to participate in developing the country’s gold reserves and highlighted significant deposits in the south.

  Bellacine Soltani, Sonarem’s chief executive, said in a statement that the Tirak and Ammasisa mines in Algeria’s Southern Tamanrasset Province hold more than 60 tonnes of gold.

  The two mines have been inactive for more than a decade.

  His comments come ahead of a planned vote on new legislation that could permit foreign companies to hold as much as 80% of mining projects.

  Algeria’s parliament is due to vote on the legislation on 16 June 2025, a move that could potentially mark a major shift for the nation, where state enterprises have majority control.

  The North African country is also looking to streamline the licensing process and trim billions of dollars worth of costly imports, including steel and marble.

  Soltani said that opening the doors to small investors and startup entrepreneurs had already enabled Algeria to extract approximately 60,000 tonnes of ore from gold over the past three years, and about 400kg of pure gold.

  Soltani said Algeria has 140 million cubic metres of marble reserves and is aiming to exploit these reserves to reduce imports.

  Imports of finished and semi-finished marble have cost the public treasury around $290m over the past three years, Soltani said.

  According to Soltani, Sonarem owns more than 15 marble and other stone quarries, with an exploitable reserve value reaching 40 million cubic metres.

  In 2024, 46 gold extraction licenses were issued to companies in Algeria.

  Sonarem’s exports reached $200m last year, the bulk of which came from phosphate exports, which totalled more than $193m.

  Algeria is currently implementing an industrial strategy that aims to reduce imports of mining materials, satisfy domestic market needs and increase non-hydrocarbon exports.

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  Wil Crisp
• 
  Twenty-eight firms interested in $1.5bn Morocco airport

  4 June 2025

  Twenty-eight local and international firms have expressed interest in a contract to build a new terminal at Morocco’s largest airport, Mohammed V International airport in Casablanca.

  The estimated MD15bn ($1.6bn) expansion will increase the airport’s capacity to 30 million passengers a year.

  The new terminal will span an area of about 450,000 square metres.

  Morocco’s Office National Des Aeroports (ONDA) issued the expression of interest notice in mid-April, with a submission deadline of 16 May.

  The firms that have expressed interest include:

  • TAV Airports Holding (Turkiye)
  • Makyol Insaat (Turkiye)
  • Sinohydro Corporation (China)
  • Jet Contractors (local)
  • China Civil Engineering Construction Corporation (China)
  • China State Construction Engineering Corporation (China)
  • China International Water & Electric (China)
  • Acciona (Spain)
  • Shandong High-Speed Group Company (China)
  • China Railway 20 Bureau Group Corporation (China)
  • China Railway Construction Corporation (China)
  • Orascom Construction (Egypt)
  • Limak Insaat (Turkiye)
  • IC Ictas (Turkiye)
  • China Gezhouba Group (China)
  • Serka Taahut Insaat (Turkiye)
  • China Harbour Engineering Corporation (China)
  • Sichuan Road & Bridge Group (China)
  • China Road & Bridge Corporation (China)
  • Kalpataru Projects International (India)
  • China Overseas Engineering Group (China)
  • Bymaro (local)
  • Consolidated Contractors Company (Greece)
  • Societe Generale des Travaux du Maroc / Travaux Generaux de Construction de Casablanca (local/local)
  • Beijing Urban Construction Group (China)
  • Sogea Maroc (local)
  • Mabetex Group / Mabco (local/local)

  The terminal is expected to be ready in time for the 2030 Fifa World Cup, which Morocco is co-hosting alongside Portugal and Spain.

  In May, MEED reported that ONDA had awarded an estimated MD294m ($29m) deal for enabling works on the new terminal.

  According to local media reports, the contract was awarded to local firm Societe de Travaux Agricoles Marocaine.

  In January, Morocco’s Transport & Logistics Minister, Abdessamad Kayouh, said that the study to expand the airport’s capacity was nearing completion.

  The project is part of Morocco’s MD42bn ($4.3bn) plan to expand key airports in anticipation of increased passenger flow for the 2030 football World Cup.

  In April, Morocco announced that it will also build a new airport in Casablanca in preparation for the tournament. 

  Morocco plans to upgrade several airports, including those in Tangier, Marrakech and Agadir, increasing their respective capacities to 7 million, 16 million and 7 million passengers annually.

  There are also plans to add a new terminal at Rabat-Sale airport, raising its capacity to handle 4 million passengers, and to increase the capacity of Fez airport to 5 million passengers annually. 

  The new terminal at Mohammed V International airport will be connected to a high-speed train network that will link Kenitra to Marrakech.

   

   

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  Yasir Iqbal