Ventures Onsite Newsletter | Apr 15

Souq Al Mubarakiya Development and Reconstruction

Egis, a leading international group in the consulting, construction engineering, and mobility sectors, has been awarded a contract for the landmark Souq Al Mubarakiya Development and Reconstruction Project in Kuwait.

Egis will oversee the reconstruction of 17 buildings and a complete upgrade of the infrastructure network to meet current standards and comply with the latest regulations.

Dubai South Properties

In UAE, Dubai South Properties announced that it has awarded a construction contract worth US$409 Mn to Al Kharafi Construction Company for its South Bay project. The contractor will develop phases 3,4 and 5.

e-Sports-centric Zone at a Cost of US$1 Bn

Gamers, a gaming lounge operator, has revealed plans to construct the city’s inaugural eSports-centric zone at a cost of US$1 Bn.

The island will feature dedicated spaces for competition, training, and athlete accommodation—a groundbreaking endeavor on a global scale. One potential location for this ambitious “eSports Island” is Abu Dhabi’s Al Raha Beach district.

Bada Al Jubail in Abu Dhabi

Jubail Island Investment Company (JIIC) launched its new exclusive beachfront gated community, Bada Al Jubail in Abu Dhabi.

The project, developed at a cost of US$1.08 Bn, is set to feature a limited number of mansions and various amenities including bespoke yachts marina, yacht club, cycle tracks, and jogging paths.

Statevolt Announced Plans to Build a Battery Cell Giga Factory

In Ras Al Khaimah, Statevolt announced plans to build a battery cell giga factory on a 60-hectare land in Al Ghail Industrial Park with a planned capital outlay of US$3.2 Bn.

The Statevolt Emirates will implement a modular design approach and will start producing semi-solid state battery cells, with the aim of moving to solid-state battery cells once the project reaches full capacity. It will have an annual production capacity of up to 40GWh on reaching full operations

Roshn has Announced Al Manar

In Saudi Arabia, Roshn has announced ALMANAR, the Group’s fifth integrated mixed-use community and its first in Makkah.

ALMANAR’s first phase will provide 4,149 residential units and house over 17,000 people across a footprint of 2.5 million square meters. It will feature a wide range of amenities, including a regional mall, 8 neighborhood commercial centers, a business park, and several local mosques.

Aramco has Awarded EPC Contracts Worth US$7.7 Bn

Aramco has awarded EPC contracts worth US$7.7 Bn for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia.

The contracts for the Fadhili Gas Plant increment project were awarded to Samsung Engineering Company, GS Engineering & Construction Corporation, and Nesma & Partners.

Binyah Signed a Contract Worth US$193 Mn

Al Akaria announced that its subsidiary signed a contract worth US$193 Mn with Diriyah Gate Company Limited to carry out excavation works for the Riyadh Metro within the mega Diriyah Gate development in Riyadh.

Binyah’s scope of work includes the implementation of excavation for Metro-Box Central, Metro-Box South, Metro-Box East, and other related works. The entire work will be completed in 2027.

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