Alandalus Property has begun work on a major commercial development in the Umm Jurfan neighbourhood in Makkah, Saudi Arabia. The project is being developed at a total cost of US $221.4mn.

Once complete, the project will feature 350 rental units, including major showrooms, retail outlets, a hypermarket, an entertainment zone as well as indoor and outdoor café and restaurant, said Alandalus Property in its filing to the Saudi bourse Tadawul.

Spanning a 127,434sqm area, the property will comprise two floors and multi-level parking facilities for 1,800 cars. As per the engineering design, the project will boast an estimated rental area of 50,650sqm.

The project will be financed mainly through bank loans and partly through the partners’ own resources, and is expected to be complete in Q1, 2027.

The land was purchased by Alandalus Property through Masat Property, which the company’s owns 25% of its capital, while Buroj International Company owns the rest 75% stake. The Board of Directors of Masat Property said they signed up Hamat Holding as the project developer.

According to the developer’s report, the optimal final engineering design for the project was chosen from a group of designs prepared by the most skilled engineering offices in the Kingdom.

The post Alandalus Property begins development of $221mn commercial project appeared first on Middle East Construction News.

Source: MEConstructionNews

UK-based construction firm Mace has been appointed as the programme management partner (PMP) for Hong Kong’s MTR Corporation’s railway extension projects.

The MTR said that it is currently undertaking six railway projects and extensions: the Northern Link Project, Hung Shui Kiu Station, Tuen Mun South Extension, Tung Chung Line Extension, Oyster Bay Station and Airport Railway Extended Overrun Tunnel. The scope of projects is estimated to cost more than US $19bn.

Mace said it will create a project management office (PMO) to ‘enable the smooth implementation of PMO functions and digital systems to support the client’s transformational and digital project goals and vision’.

The firm said that its partnership aims to further enhance the capital works team’s PMO capability, and enable the team to establish best in class integrated project controls, digital services and NEC contracting.

Davendra Dabasia, CEO for Mace Consult, said the announcement follows preliminary consulting work done by the group. “Our work with MTR started with strategic consultancy and has grown to enable Mace to work hand-in-hand with our client,” he concluded.

The post Mace appointed as PMP for MTR railway extension projects appeared first on Middle East Construction News.

Source: MEConstructionNews

Agratas has awarded UK-based contractor Sir Robert McAlpine the contract to build a battery cell manufacturing facility in the UK. Agratas, which is Tata Group’s battery subsidiary, noted that Sir Robert McAlpine will build Building One of the facility and ancillary developments, covering a gross external built area 244,710sqm near Bridgwater in Somerset.

The contractor said it has begun preparations for the development, which is scheduled to be operational in 2026. It added that initial works have been underway onsite for several months, with piling for Building One expected to commence in the coming weeks.

The development of Building One will require approximately 2,100 construction roles at peak times, many across Tier 3 and 4 of the supply chain.

“The beginning of this partnership with Sir Robert McAlpine is another pivotal moment for our nationally significant project. The team brings an unrivalled commitment to technical excellence, client service, sustainability and exemplary project delivery, and most importantly, they live and breathe our shared vision of placing community at the heart of everything we do,” said Joe Hibbert, Vice President for Capital Projects at Agratas.

Agratas said that by the early 2030s the wider facility will contribute almost half of the projected battery manufacturing capacity required for the UK automotive sector.

Grant Findlay, Executive Managing Director for Buildings, Sir Robert McAlpine concluded, “Across our 155-year history, we have always been at the forefront of industrial change in the UK. This is why we are proud to be working with Agratas as its preferred delivery partner.”

The post Agratas awards contract for construction of UK battery cell facility appeared first on Middle East Construction News.

Source: MEConstructionNews

Emirates REIT, a key business unit of Equitativa – the largest real estate investment trust manager in the GCC – has announced the sale of Trident Grand Mall. The mall is a two-floor retail component of Trident Grand Residence in Jumeirah Beach Residence, Dubai Marina.

Emirates REIT has investments principally in income-producing real estate in line with shari’a principles. It currently owns a portfolio of nine assets in the commercial, education and retail sector.

First opened in 2014, Trident Grand Mall features 22 retail units over two floors and 164 basement parking spaces. It has undergone significant repositioning of its retail offer in the last 10 years, including renovations and enhancements to the tenant mix.

According to Equitativa, the agreed purchase price is AED74m ($20m), which is above the asset’s latest valuation.

The net sale proceeds from the divestment will be used to partially redeem the secured sukuk certificates issued on 12^th December 2022.

On the strategic sale, CEO Thierry Delvaux said: “We are delighted to close this transaction, which will deliver a positive outcome for Emirates REIT’s stakeholders and support our wider strategy of portfolio performance optimisation.

“The proceeds from this strategic sale will contribute to our efforts to reduce our financing costs and return more value to our stakeholders. This will ensure that Emirates REIT is positioned to deliver long-term success for all our partners.”

The post Trident Grand Mall sold for $20m appeared first on Middle East Construction News.

Source: MEConstructionNews

The Sustainable City – Yas Island has received the prestigious Estidama 5 Pearl classification for the design of its residences.

Developed by a partnership between Aldar Properties and SEE Holding, the rating endorses both parties’ commitment to social, environmental, and economic sustainability.

The green building rating by Abu Dhabi’s Urban Planning Council is the highest available rating under the Pearl Villa Rating System (PVRS) and signifies excellence in sustainable development.

It is characterised by advanced energy-efficient building designs, water conservation measures, integration of green spaces and pedestrian-friendly pathways, use of eco-friendly materials and dedication to enhancing both environmental quality and community wellbeing.

Homes in The Sustainable City – Yas Island will be powered by solar energy, with a high volume of solar panels installed on the properties and also across the parking infrastructure. These will enable residents to save up to 50 percent on energy bills.

The whole development is designed to promote energy and water efficiency. It features a central ‘green spine’ with bio-domes to encourage community farming, and a network of communal battery-charged buggies and bicycles will encourage personal mobility and accessibility for all.

The construction of the project is underway, with the first handovers expected at the end of 2025.

Faisal Falaknaz, Aldar’s Group Chief Financial and Sustainability Officer, said: “Sustainable City – Yas Island is a benchmark for building resilient and sustainable communities in the UAE and is a testament to both partners’ commitment to sustainable development.

“Supporting Aldar’s ambitious 2050 Net Zero target, the development provides a framework for the future of sustainable cities and supports the growing demand and expectation set by our customers for environmentally friendly and socially conscious living destinations.”

The post Top Estidama rating for Sustainable City – Yas Island appeared first on Middle East Construction News.

Source: MEConstructionNews

The post Construction Machinery ME – July 2024 appeared first on Middle East Construction News.

Source: MEConstructionNews

Mace, the global programme and project delivery consultants and construction specialist, has published its 2023 Annual Report, showcasing record-breaking revenue and profit before tax. The company’s substantial expansion in global consultancy work and a significant boost in construction revenue have set new benchmarks for the firm.

For the year 2023, Mace reported a revenue of AED 11.24 billion (£2.36 billion), marking a 25% increase from 2022’s AED 9 billion (£1.89 billion). The operating profit soared by 94%, reaching AED 306.3 million (£64.3 million), while the profit before tax rose by 68% to AED 293.9 million (£61.7 million). The company also saw a 42% increase in net assets, which now stand at AED 362.5 million (£76.1 million), and a 14% rise in cash reserves, totaling AED 837.4 million (£175.8 million).

Mace’s investment in research and development also saw a notable uptick, with AED 323.9 million (£68 million) allocated to innovation—a 19.3% increase from 2022. The Group surpassed its 2026 value-to-society target, delivering AED 4.3 billion (£912 million) in 2023, and has made significant strides towards its ambitious goal of saving 10 million tonnes of client carbon by 2026, having already saved or identified for elimination over 1.7 million tonnes.

Key highlights from the 2023 Annual Report include the completion of iconic projects such as the One Za’abeel tower in Dubai and the Brent Cross West rail project in London. Mace’s consultancy business reported a 24% increase in revenue, totaling AED 2.9 billion (£619.4 million), driven by securing new mandates in Asia, the Middle East, the Americas, and Europe. Meanwhile, the construction business saw revenues leap to AED 8.2 billion (£1.73 billion), with 60 new projects valued at AED 11.2 billion (£2.36 billion).

Significant milestones in 2023 included the completion of ‘n2’ and ‘The Forge’ for Landsec in London, with the latter being the UK’s first Net Zero office development. The Group also announced leadership and governance changes, with Mark Reynolds set to become Executive Chairman and Jason Millett to take over as Chief Executive in January 2025. Mace aims to align its governance structure with the UK Corporate Governance Code by 2025, including the formation of a new Board and the appointment of four non-executive directors.

Additional highlights from the report include Mace’s inaugural Taskforce for Climate Financial Disclosures (TCFD) report, maintaining carbon neutrality by offsetting 10,758 tonnes of carbon, and achieving award-winning safety standards with a 0.04 accident frequency rate. The global headcount grew to almost 7,500, and the Group made charitable donations totaling AED 2.3 million (£500,000).

Mark Reynolds, Chairman and Group Chief Executive, commented, “2023 was a landmark year, marking the mid-point of our 2026 Business Strategy, and seeing us take a major step towards our target of achieving annual revenues of more than AED 14.2 billion (£3 billion) by 2026. Our vision is for Mace to be the world’s leading programme and project delivery consultant and construction expert—a purposeful and sustainable business; and 2023’s results show that we are well on the way to making that a reality.”

Reynolds attributed much of Mace’s growth to securing major consultancy programmes globally, reinforcing the company’s position as a credible global consultant capable of delivering complex projects at scale. He praised Mace’s teams for driving innovation, sustainable delivery, and purpose-led growth worldwide.

The post Record-breaking year for Mace as series of major projects complete appeared first on Middle East Construction News.

Source: MEConstructionNews

New Murabba Development Company – a specialist division of the PIF – has unveiled the design of New Murabba Stadium, a world-class venue set to have a capacity in excess of 45,000. The stadium will be a central pillar of the “New Murabba” district, a downtown destination in Riyadh City.

The stadium’s design is inspired by the layered overlapping branches of the native Acacia tree, with the goal of creating a fusion of tradition and innovation.

The stadium will feature cutting-edge sporting technology, creating an immersive and personalised fan experience. The stadium environment will also be a vibrant community hub, featuring illuminated entry points and shaded spaces for gathering and socialising.

Michael Dyke, CEO of New Murabba Development Company, said: “The New Murabba Stadium embodies our commitment to transforming Riyadh into a global destination for sports and entertainment. The stadium will not only be a world-class venue for sporting events but also a vibrant community hub that enhances the quality of life for residents and visitors alike.

“The New Murabba Stadium is a symbol of Riyadh’s dynamic future. It demonstrates our commitment to delivering world-class infrastructure and experiences that will captivate both local communities and global audiences.”

The stadium design also maximises long-term usability, allowing it to be adapted to host a wide range of events beyond sports, including gaming competitions and exhibitions.

Completion is scheduled for Q4 2032. The venue’s larger aim is to be a symbol of Riyadh’s transformation, attracting tourists, fostering community spirit, and solidifying Saudi Arabia’s position as a leader in sports and entertainment.

The post Riyadh stadium epitomises KSA’s new era appeared first on Middle East Construction News.

Source: MEConstructionNews

Abu Dhabi-based NMDC Energy has secured a $255m EPC (engineering, procurement and construction) contract from Adnoc Gas, for the Sales Gas Pipeline Network Enhancement Programme (part of the Estidama initiative).

NMDC Energy is a subsidiary of the NMDC Group, a key player in the engineering, procurement, construction and marine dredging sectors.

This project is part of Adnoc Gas’ broader Estidama programme, which aims to upgrade and expand its natural gas pipeline network to more than 3,500 km, increasing gas delivery volumes to the northern UAE.

The project encompasses the EPC of a pipeline and associated facilities to transport sales gas.

NMDC Energy CEO Ahmed Al Dhaheri said: “We look forward to continuing our long-standing partnership with Adnoc Gas through this project. It highlights our shared commitment to advancing the UAE’s energy infrastructure, ensuring a reliable and sustainable supply of natural gas across the emirates, and supporting the nation’s goals of achieving gas self-sufficiency.

“In addition, this project will not only strengthen the UAE’s energy framework but also underscores our commitment to sustainable growth and the local economy, with a significant portion of the contract’s value being reinvested within the UAE.”

Last year, NMDC Energy, in a consortium with CAT International, a major trading firm in the Middle East, had secured a contract on the earlier phase of the Estidama project.

Valued at over $600 million, that contract includes the installation of 191 km of new sales gas pipelines, along with additional infrastructure such as nitrogen and water pipelines and a jump-over connection.

The new contract reinforces NMDC Energy’s position as a leading EPC contractor in the energy sector, committed to delivering high-quality projects set to drive and innovate the UAE’s energy industry.

The post Adnoc awards major pipeline EPC contract appeared first on Middle East Construction News.

Source: MEConstructionNews

The post Truck&Fleet ME – July 2024 appeared first on Middle East Construction News.

Source: MEConstructionNews