New Murabba achieves Mukaab construction milestone
16 October 2024
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Saudi Arabia’s New Murabba Development Company has achieved significant construction progress on its Mukaab development as part of the New Murabba downtown development in Riyadh.
According to an official statement released on 15 October: "Excavation works at the Mukaab and surrounding podium sites have reached 86% completion, with over 10 million cubic metres of earth moved."
Beijing-headquartered China Harbour Engineering Company is carrying out the excavation works.
New Murabba has also started the foundation works on the Mukaab building, which is being carried out by UAE-headquartered HSSG Foundation Contracting.
The client is preparing to undertake the raft concrete works beneath the Wadi podiums and Mukaab. It has allowed bidders until 20 October to submit offers for the contract.
Mukaab, a Najdi-inspired landmark, will be one of the largest buildings in the world. It will be 400 metres high, 400 metres wide and 400 metres long.
The Mukaab will encompass a tower on top of a spiral base and a structure featuring 2 million square metres of floor space designated for hospitality. It will feature commercial spaces, cultural and tourist attractions, residential and hotel units and recreational facilities.
The main packages include the Mukaab core, Wadi podiums, infrastructure and public realm, corner towers, rooftop and Najdi screen.
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Egypt approves plans for 869MW wind power plant22 June 2026
Egypt’s Cabinet has approved plans for French renewable energy developer Voltalia to develop an 869MW wind power project.
The scheme will be built on land allocated by the New & Renewable Energy Authority (NREA), according to a statement posted by the Cabinet following its most recent weekly meeting.
Voltalia will make an initial investment of $53m and has committed to achieving commercial operations by December 2028.
Voltalia already operates the 32MW Ra solar plant at the Benban solar complex in Aswan and is expanding its renewable energy portfolio in Egypt.
Previously, in 2024, it signed a framework agreement with Egypt’s Taqa Arabia to develop a green hydrogen and renewable power cluster near the Ain Sokhna port in the Suez Canal Economic Zone.
The green hydrogen development is planned in two phases, each centred on a 500MW electrolyser powered by more than 1.3GW of renewable generation capacity. The project, still in its early stages, is expected to produce up to 350,000 tonnes of green ammonia a year.
Voltalia’s partnership with Taqa Arabia also includes plans for a 3.2GW hybrid wind and solar project to repower the existing 545MW Zafarana wind farm in Suez Governorate. The Cabinet statement did not indicate whether the newly approved 869MW wind project forms part of that proposal.
Meanwhile, the developer won another contract, earlier this year, to develop a 132MW solar power project in Tunisia’s Gabes region.
The project, known as Wadi, marked Voltalia’s third major solar award in the country after the Sagdoud and Menzel Habib projects awarded in 2024.
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Local firm signs Jeddah drainage contracts22 June 2026
Local contractor Alkhorayef Water & Power Technologies (AWPT) has announced it has signed two contracts with Jeddah Municipality to operate and maintain stormwater and surface water drainage networks across the city.
The contracts have a combined value of SR202.06m ($53.9m), and each will run for five years.
The first contract, valued at SR108.46m ($28.9m), covers the operation and cleaning of stormwater and surface water networks in the South and Al-Malisa sub-municipalities.
The second contract, worth SR93.59m ($25m), covers similar services for the Airport Sub-Municipality.
In March, MEED reported that the firm had won a long-term contract to carry out work in the airport’s sub-municipality area. The agreement was signed on 16 June.
Elsewhere, construction has yet to begin on phases one and two of the King Abdullah Road-Falasteen Road tunnel project, each valued at about $175m.
According to sources, Jeddah Municipality selected Saudi contractor Thrustboring Construction Company to build the large-diameter stormwater drainage tunnels in 2025. However, an official agreement has yet to be signed.
The municipality was also previously planning to rehabilitate the existing Al-Zahra pumping station. Prequalification for the project began in 2020; however, it is understood that the main contact tender was cancelled last year.
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Saudi firm signs Uzbekistan water treatment PPP22 June 2026
Saudi-listed Miahona has signed a public-private partnership agreement to enhance, operate and maintain Uzbekistan’s Zomin water treatment plant in the country’s Jizzakh region.
The agreement was signed on 18 June with Uzsuvtaminot, the country’s state-owned water utility, the developer said in a filing with the Saudi stock exchange.
Miahona will carry out enhancement works and 25 years of operation and maintenance services for the existing plant, which has a design treatment capacity of 50,000 cubic metres a day
The contract marks the company’s entry into Uzbekistan’s water sector. According to the disclosure, it will enter into force once a project-related governmental decree is issued in accordance with Uzbekistan’s applicable legislation.
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MEED reported earlier this month that Uzbekistan had stepped up its engagement with Middle Eastern investors, including holding talks with Saudi Arabia’s Acwa and Vision Invest on renewable energy, water management, waste recycling, digital infrastructure and urban utility projects.
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Qiddiya seeks contractors for indoor arena project22 June 2026

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Saudi Arabian gigaproject developer Qiddiya Investment Company (QIC) has invited contractors to prequalify for a contract to build an indoor sports arena within its Qiddiya entertainment city project.
The invitation was issued on 21 May, with a submission deadline of 28 June.
The multipurpose arena is designed to International Olympic Committee standards.
It will be located in District 18, in the Uptown South area of Qiddiya.
Once completed, the indoor arena will be capable of hosting a wide range of sports, cultural and entertainment events.
The arena will feature numerous sports courts for basketball, handball, futsal, volleyball, tennis, boxing and gymnastics.
It will have a seating capacity of 18,000 spectators.
The project is scheduled for completion by 2030.
QIC’s other major projects include an e-sports arena, the National Tennis Centre, Prince Mohammed Bin Salman Stadium, a motorsports track, a racecourse, the Dragon Ball and Six Flags theme parks, and Aquarabia.
QIC opened the Six Flags theme park to the public in December last year.
The park covers 320,000 square metres and features 28 rides and attractions, including 10 thrill rides and 18 aimed at families and young children.
The Qiddiya project is a key part of Riyadh’s strategy to boost leisure tourism in the kingdom.
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Egypt signs gas deal with Harbour Energy22 June 2026
Egypt’s Ministry of Petroleum & Mineral Resources has signed a new agreement with London-headquartered Harbour Energy.
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The signing was witnessed by Egypt’s Minister of Petroleum, Karim Badawi.
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The agreement was signed by Syed Saleem, a member of the executive branch of the state-owned Egyptian Natural Gas Holding Company (EGAS), and Samah Sabry, the executive director of Harbour Energy for the Middle East and North Africa region.
Harbour Energy drilled two new wells in Egypt during the fiscal year 2025/2026, resulting in the addition of reserves estimated at 35 billion cubic feet of gas.
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READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.
Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17374536/main4731.jpg
