meed-logo

line1 line2 line3
SIGN IN / REGISTER

DWTC partners with Candy for Dubai towers project

5 April 2023

 

Dubai World Trade Centre (DWTC) and UK-based Candy Capital have formed a joint venture to develop three towers in Dubai’s One Central commercial district.

“DWTC and Candy Capital have formed a partnership and are collaborating on a new super-prime real estate development. This will be announced in more detail later this year,” said a representative of the joint venture in a statement given to MEED.

The mixed-use towers are expected to have two branded residences, two hotels and office space. The construction work involves building three towers. The two taller towers will be connected by a sky bridge containing one of the hotels.

Dubai-based Killa Design has been appointed as the architect for the project.

London projects

Candy Capital is a privately held family office established by British entrepreneur and businessman Nick Candy. His best-known property development is One Hyde Park in London (pictured), which he developed with his brother Christian. It consists of 86 apartments and three retail units and is considered one of the wealthiest residences in the world.

DWTC has completed the existing One Central district in phases.

The local/UK Al-Futtaim Carillion was the contractor for the first three phases of the building work.

The first phase was awarded in 2014. It involved building a 146,000-square-metre development, with an eight-storey office building and a 588-room hotel.

The second phase, awarded a year later in 2015, involved the construction of two office buildings of eight and 12 storeys and a built-up area of about 178,000 sq m.

The third phase, awarded in late 2016, involved building two Grade A office buildings of eight and 12 storeys with a built-up area of 182,500 sq m.

In 2017, local contractor ASGC was awarded the contract to build the 25hours hotel. It is an eight-storey hotel building with 434 rooms, food and beverage outlets, and a swimming pool. The gross internal area is 38,800 sq m.

The UK’s export credit agency, UK Export Finance (UKEF), provided financial support for the project’s earlier phases.

Previous scheme

A previous attempt to develop the area next to the Dubai International Convention & Exhibition Centre was put on hold during the 2008-09 global financial crisis.

In May 2008, the local Alec was awarded a contract to build the first phase of that project, which involved the construction of seven towers with 242,000 sq m of offices, a 35,000 sq m four-star hotel, a 22,000 sq m three-star hotel, 20,000 sq m of retail space and a four-level, 110,000 sq m basement. The total built-up area was about 1 million sq m.

The plans for that development also included a five-star hotel tower, which was to be tendered separately.

https://image.digitalinsightresearch.in/uploads/NewsArticle/10734537/main3938.gif
Colin Foreman

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Contractor wins Jeddah road expansion deal in Riyadh

    2 July 2026

     

    The Royal Commission for Riyadh City (RCRC) has awarded a contract for the Jeddah Road Development Project in Riyadh.

    Local construction firm Saudi Pan Kingdom (Sapac) won the contract.

    Spanning 29 kilometres, the scheme includes 14 bridges and five lanes.

    Designed to handle up to 353,000 vehicles a day, the road is expected to be completed by 2028, with mobilisation works already under way.

    The project forms part of the third package of the RCRC’s Riyadh Main and Ring Road Axes Development Programme, which was announced in January.

    The other schemes include:

    > Taif Road Development Project: The project stretches 15km and includes four bridges, each with four lanes. It also features two tunnels. It will have a capacity of up to 200,000 vehicles a day and will enhance connectivity between Riyadh’s southern and western districts and the city centre.

    > Thumamah Road Development Project: The eastern section of the project will span 8km and include three bridges and three tunnels, linking the northern and eastern parts of Riyadh. The project will have a daily capacity of up to 200,000 vehicles.

    > King Abdulaziz Road Development Project: The northern section of the project stretches 4.7km and will include four bridges, four lanes and one tunnel, with a capacity of up to 450,000 vehicles per day.

    > Othman Bin Affan Road Development Project: The northern section will span 4.3km and include seven bridges and other related upgrades to enhance traffic flow across northern Riyadh. The project will have a daily capacity of up to 500,000 vehicles.

    > Second phase of engineering enhancements for congested areas: This project targets eight locations across the city’s road network, where advanced engineering solutions will be applied to reduce congestion and improve intersection performance, increasing traffic capacity by 40% to 60%.

    The contract for the Jeddah Road Development Project is the latest of several high-profile deals awarded by the RCRC recently. In May, it awarded an estimated SR5bn ($1.3bn) contract to construct the Sheikh Jaber Al-Sabah Road project in Riyadh.

    That contract went to a joint venture of Riyadh-based Al-Rashid Trading & Contracting Company (RTCC) and Turkiye’s IC Ictas.

    Stretching 12km, the project runs from Khurais Road to Al-Thumama Road and is a key component of the Second Eastern Ring Road scheme.

    Works include five interchanges: Prince Bandar, King Abdullah, Imam Abdullah, Dammam Road and Al-Thumama.

    In 2021, Saudi Arabia’s Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud said the population of Riyadh would double to 15-20 million people by 2030. 

    He directed government entities to work closely with the RCRC to prepare the city’s development strategy.

    The RCRC’s major projects include Riyadh Metro, Riyadh Art, Sports Boulevard, King Salman International Park, Green Riyadh and several road development projects in the capital.

    READ THE JULY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17523376/main.jpg
    Yasir Iqbal
  • Dubai announces First Al-Khail road development project

    2 July 2026

    Dubai’s Executive Council has announced the First Al-Khail Street Development project, which will run parallel to Sheikh Zayed Road.

    The scheme comprises a 15-kilometre elevated carriageway with three lanes in each direction.

    According to a Dubai Media Office statement, “The project will provide access to areas including Al-Barsha, Al-Quoz, Business Bay and Meydan.”

    “It is expected to serve more than 2.6 million people and reduce travel time on Sheikh Zayed Road by 51% during peak hours,” the statement added.

    Designed to accommodate more than 9,000 vehicles an hour, construction is expected to begin in the third quarter of 2027, with completion targeted for 2030.

    The development forms part of a wider AED18bn ($5bn) programme covering initiatives related to culture, trade, infrastructure, Emiratisation, finance, investment, urban planning and the city’s population census.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17523587/main.jpg
    Yasir Iqbal
  • Contractors submit Saudi Landbridge Riyadh section bids

    2 July 2026

     

    Contractors submitted proposals on 30 June for a design-and-build contract to construct the Riyadh Rail Link, a new north-to-south railway line across the capital.

    The scope includes a 35-kilometre double-track line connecting SAR’s North-South Railway to the Eastern Railway network.

    Issued on 29 January, the tender also covers the procurement, construction and installation of associated infrastructure, including viaducts, civil works, utility diversions/installations, signalling systems and other related works.

    Once delivered, the Riyadh Rail Link is expected to become a key component of the Saudi Landbridge railway.

    In January, SAR said it would deliver the Saudi Landbridge project through a “new mechanism” by 2034, after failing to reach an agreement with a Chinese consortium to construct it, as MEED reported.

    In an interview with local media, SAR CEO Bashar Bin Khalid Al-Malik said the consortium failed to meet local content requirements, and that the project would instead be delivered in several phases under a different procurement model.

    Negotiations have been under way between Saudi Arabia and China-backed investors interested in developing the scheme through a public-private partnership (PPP). Al-Malik put the project cost at about SR100bn ($26.6bn).

    Overall, it comprises more than 1,500km of new track. A core element is a 900km railway between Riyadh and Jeddah, providing the capital with direct freight access to King Abdullah Port on the Red Sea.

    Other key elements include upgrading the existing Riyadh-Dammam line, a bypass around the capital known as the Riyadh Link, and a connection between King Abdullah Port and Yanbu.

    The Saudi Landbridge is one of the kingdom’s most anticipated project programmes. First announced in 2004, it was put on hold in 2010 before being revived a year later. Rights-of-way issues, route alignment and the high cost have been among the main stumbling blocks.

    READ THE JULY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17522174/main.jpg
    Yasir Iqbal
  • Contractor appointed for Abu Dhabi Riviera residences

    1 July 2026

     

    Dubai-based real estate developer Mered has appointed Turkiye’s Sera Group as the main contractor for its Riviera Residences project on Al-Reem Island in Abu Dhabi.

    The development will comprise more than 400 one- to three-bedroom apartments and 11 villas.

    Lebanese engineering firm Dar Al-Handasah is the project consultant, while Switzerland’s Herzog & de Meuron is the architect.

    The enabling works are being carried out by local contractor NSCC International.

    Mered and Sera Group are also working together on the Iconic Tower project in Dubai Internet City, where the developer awarded the main contract in December 2024.

    The 67-storey tower is being built on a site covering about 6,368 square metres.

    Local firm Mirage is the project consultant, while Singapore-based Hirsch Bedner Associates is the project architect.

    Dubai-based Chawla Architectural & Consulting Engineers is the architect of record, and Omnium International is the quantity surveyor.

    The foundation works were carried out by local firm Dutch Foundations.

    Mered’s latest contract awards in the UAE market come amid heightened real estate and construction activity, with schemes worth more than $323bn at the execution or planning stages, according to UK-based analytics firm GlobalData.

    GlobalData forecasts that output from the UAE’s residential construction sector will grow by 3% in real terms in 2026-29, supported by infrastructure, energy and utilities developments, as well as residential construction projects.

    READ THE JULY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17509888/main.jpg
    Yasir Iqbal
  • Aramco extends deadline for Ras Tanura refinery gas pipeline

    1 July 2026

     

    Saudi Aramco has granted contractors more time to prepare bids for a tender to replace a pipeline in the Gas Line Abqaiq–Ras Tanura (GART) transmission network.

    The GART grid transports associated gas and natural gas liquids (NGL) from the Abqaiq oil processing complex as feedstock, northwards to the Ras Tanura refinery in Saudi Arabia’s Eastern Province.

    The aim of the project is to replace the GART-22 pipeline that connects the Juaymah export terminal on the Gulf coast in the Eastern Province to the Ras Tanura refinery, to ensure reliable fuel gas supply and meet ongoing demand.

    The basic scope of work for the project is to install a new 24-inch pipeline system to replace the GART-22 line and the abandoned GART-24 line. It will cover a distance of 18 kilometres between Juaymah and the Ras Tanura terminal.

    The scope also includes the installation of associated scraper trap facilities (launcher and receiver), pressure control valves, motor-operated valves and gas detection and sampling systems.

    Aramco issued the tender for the project in May, setting an initial deadline of 30 June for contractors to submit proposals, MEED previously reported.

    The Saudi energy giant has now extended that deadline until 10 July, according to sources.

    The following contractors, among others, are understood to be bidding for the project:

    • ACE Pipeline Arabia
    • Combined Group Contracting Company
    • Gas Arabian Services Company
    • Max Streicher Saudi Arabia
    • National Basics Company
    • Saad Ali Alessa Group
    • Sicim
    • Sinopec Engineering Group Saudi
    • Tecton Engineering & Construction
    Ras Tanura refinery complex

    The Ras Tanura refinery is the oldest, and one of the largest, crude oil refineries in Saudi Arabia. The complex has a refining capacity of 550,000 barrels a day (b/d).

    The facility also has a 305,000 b/d NGL processing facility, a 960,000 b/d crude stabilisation facility, combined steam and gas turbine electrical power generation plants with a summer capacity of 145MW and a winter capacity of 158MW, and a combined 150-pound and 600-pound steam capacity of 6,217 million pounds an hour.

    It has 75 crude oil and products storage tanks with a combined capacity of 5.8 million barrels.

    The Ras Tanura refinery’s major facilities include a 325,000 b/d crude distillation unit, a 225,000 b/d gas condensate distillation unit, a 50,000 b/d hydrocracker and 107,000 b/d of catalytic reforming capacity.

    The facility is Aramco’s only refinery to contain a Visbreaker processing unit, which has a 60,000 b/d capacity.

    The Visbreaker reduces the quantity of residual oil produced in the distillation of crude oil and increases the yield of more valuable middle distillates, heating oil and diesel.

    The refinery complex also produces 17,000 b/d of asphalt, more than any other refinery in Saudi Arabia.

    Ras Tanura receives crude feedstock from the Abqaiq, Safaniya and Manifa oil field developments.

    Crude is typically transferred to Ras Tanura through a pipeline and can also be supplied by ship.

    Most of Ras Tanura’s production is transferred to the Dhahran bulk plant for domestic use, while some products are exported from the nearby Ras Tanura shipping terminal.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17508681/main4014.jpg
    Indrajit Sen