Ventures Onsite Newsletter | 25 November

RAK Properties Partners with A.R.M Holding and HIVE for Coliving and Coworking Development Innovative Urban Living Initiative

Location: Mina Al Arab, UAE | Developer: RAK Properties in partnership with A.R.M Holding and HIVE

RAK Properties has joined forces with A.R.M Holding and HIVE to launch a coliving and coworking development in Mina Al Arab.

The 233-key project includes a 117-unit HIVE building and a 116-unit residential building, offering an integrated living and working experience. It also features 300 sqm of retail space and 2,000 sqm of coworking space equipped with state-of-the-art facilities.

Emaar and DWTC Introduce Expo Living in Dubai South Urban Community Development

Location: Dubai South, UAE | Developers: Emaar Properties and Dubai World Trade Centre (DWTC)

Emaar Properties and Dubai World Trade Centre (DWTC) have partnered to develop Expo Living, a new urban community in Dubai South. Terra Heights, the first residential phase, is now open for launch, featuring one- and two-bedroom apartments with open layouts and courtyard views.

Spanning 451,295 sqm, the development includes 358,473 sqm of residential spaces, complemented by the Dubai Expo Mall, a modern retail and leisure destination.

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Damac Properties Unveils Damac Islands Master Community Luxury Residential Development

Location: UAE | Developer: Damac Properties

Damac Properties has launched Damac Islands, a luxury master community featuring villas and trendy townhouses. The project includes six clusters named Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji.

Highlights include serene lagoons, cascading waterfalls, jungle rivers, and an Aqua Dome for indoor aquatic activities. The development will also feature a wedding venue, tortoise garden, fresh fruit market, and an exclusive Residents Clubhouse.

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OQ Gas Networks to Build Major Pipeline Project in Oman Infrastructure Expansion

Location: Fahud to Sohar, Oman | Developer: OQ Gas Networks SAOG

OQ Gas Networks SAOG has received approvals for a 42-inch, 193-kilometer loop pipeline connecting Fahud to Sohar. Scheduled for completion by 2027, the project will expand OQGN’s northern gas network capacity by an additional 9 Million Metric Standard Cubic Meters per Day (MMSCMD), enhancing Oman’s gas infrastructure.

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TAQA, JERA, and Al Bawani Sign PPAs for Power Plants in Saudi Arabia Sustainable Energy Development

Location: Saudi Arabia | Developers: Abu Dhabi National Energy Company (TAQA), JERA Corporation, and Al Bawani Financial

TAQA, JERA, and Al Bawani have signed two 25-year Power Purchase Agreements (PPAs) with the Saudi Power Procurement Company (SPPC) to develop two combined cycle gas turbine power plants, Rumaah 2 and Nairiyah 2, with a total capacity of 3.6 GW.

The build, own, operate (BOO) model power plants will feature the most efficient turbines available and potential carbon capture technologies. Harbin Electric Corporation, China, has secured the EPC contract for both plants.

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Diriyah Company Reveals Plans for Educational and Arts Districts Mixed-Use and Cultural Development

Location: Diriyah, Saudi Arabia | Developer: Diriyah Company

Diriyah Company has unveiled plans for two multi-billion-dollar districts within the Diriyah project: the Qurain Cultural District and the Northern District. The Qurain Cultural District will include two luxury hotels and branded residences, the 195-room Ritz-Carlton Diriyah with 165 residences, and the Address Diriyah with 204 rooms and 60 serviced apartments. It will also feature 19 mixed-use buildings with office, retail, and dining spaces.

The Northern District aims to establish Diriyah as a global hub for education and arts, with facilities such as museums, a university, a library, and a vibrant public square. Contracts valued at US$1.55 Bn and US$2 Bn have been awarded for the Qurain Cultural and Northern Districts, respectively.

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Kooheji Development to Showcase Onyx Water Garden in Bahrain Luxury Waterfront Residential Project

Location: Seef, Bahrain | Developer: Kooheji Development

Kooheji Development is set to unveil Onyx Water Garden, a luxury residential project, during Cityscape Bahrain 2024 from November 26 to 30. Located in Seef, the development will feature 503 units, ranging from one- to three-bedroom apartments to penthouse villas, all with balcony options and stunning sea views.

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