Sarcc, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), aims to meet the growing demand for accommodation solutions for both public and private projects throughout the country
Construction
Dubai
Dubai real estate: Palma Development’s Serenia Living on Palm Jumeirah reaches 70% completion
The beachfront development, located on the crescent of the island, is scheduled for completion by the end of 2025
Dubai
UAE’s ALEC reports 29% growth as Saudi expansion pays off
ALEC has secured several landmark projects in Saudi Arabia, including the Qiddiya Waterpark and Qiddiya Speedpark, as it continues to diversify across sectors and expand its regional footprint
Building materials
UAE property developers face rising costs as new launches, labour crunch strain supply chains
The boom in new real estate projects is driving up construction material costs by up to 15%
Ajman
Ajman construction boom sees contracts up 63% to $2.6bn
Ajman reports massive construction contract increase as emirate builds for future
Dubai
Dubai approves new urban initiatives to boost infrastructure, mobility under 2040 master plan
Among the projects approved in 2024 is the ‘Dubai Walk’ master plan, which will introduce 6,500 kilometres of pedestrian pathways across 160 areas
Drake & Scull International
Drake and Scull submits clarification on Arabian Hills contracts to DFM
Says the AED1 billion project will be financed through its cash resources and available bank facilities; Profit margin to range between 8-10%
NEOM
NEOM chief reveals first details of car-free vertical city THE LINE: Report
A key feature of THE LINE is its complete elimination of cars in favour of a six-tier mobility system
Abu Dhabi
UAE megaprojects 2025: 50 massive developments set to transform the nation
Here are some of UAE’s upcoming projects planned for the next decade
Drake & Scull International
Dubai construction giant Drake & Scull International bags 2 major contracts for Arabian Hills Project
The combined value of the project contracts is estimated to exceed AED 1 billion
DHG Properties
DHG Properties hits 25% construction milestone for Helvetia Residences in Dubai, on track for 2026 delivery
DHG Properties said the strong sales performance is supported by the sustained investor confidence in Dubai’s off-plan sector
Diriyah
Saudi Arabia’s Diriyah set on track for 2027 infrastructure completion, says CEO: Report
Speaking at the PIF Private Sector Forum in Riyadh, Inzerillo detailed plans for Diriyah Square, which currently employs 83 tower cranes, the report said
Hidden Marina NEOM
NEOM announces new Hidden Marina as first phase of THE LINE: Report
NEOM’s Hidden Marina will include 21 million square metres of built-up area, surpassing the Burj Khalifa’s 350,000 square metres in Dubai, the report said
Abu Dhabi business
New tax in the UAE; Blue Visa launched; Saudi megaproject guide; Dubai Loop announced – 10 things you missed this week
New taxes and visa in the UAE, Elon Musk reveals Dubai Loop plan; Saudi megaprojects revealed, expected Ramadan dates and more top stories this week
construction industry
BRKZ completes $17mn Series A funding to transform construction procurement in Saudi Arabia
The latest investment takes the total funding to $22.5 million
Ras Al Khaimah
RAK Properties, Ellington name main contractor for AED 310mn Hayat Island development
The project, set for completion in Q4 2026, forms part of the Mina masterplan in Ras Al Khaimah and will comprise studios, apartments, townhouses, and villas
NEOM
Saudi Arabia megaprojects: 19 major developments transforming the kingdom
Saudi Arabia’s multi-billion-dollar projects to diversify its economy, generate jobs, and establish itself as a global commercial hub