The big picture

01 UNITED STATES Bvlgari Hotels and Resorts launches new property in Los Angeles

Bvlgari Hotels and Resorts has signed an agreement to launch a new luxury resort in Los Angeles, with an opening scheduled for 2025, it has been announced.

The agreement was signed with owner and developer Gary Safady, making Bvlgari Resort Los Angeles the second Bvlgari property in the US, with its Miami property scheduled to open in 2024, and the 12th in the Bvlgari Hotels and Resorts collection. Located in the Santa Monica mountains, The property will be surrounded by 33 acres of hillside park and natural wildlife, less than five miles from Rodeo Drive.

04 EGYPT KSA and Egypt sign $1.8bn worth contracts for interconnected power grids

Saudi Arabia and Egypt have signed contracts with three consortiums of international and local companies to connect the two nations power grids in a project worth a total of $1.8 billion.

The electric grid interconnection project aims to exchange electrical capacities amounting to 3,000 MW with a 500kV HVDC technology. It consists of the construction of three highvoltage substations linked by overhead transmission lines and marine cables in the Gulf of Aqaba with a length of 22 km.

02 UNITED STATES Ritchie Bros acquires SmartEquip for $175m

Global equipment and vehicles auction powerhouse Ritchie Bros. Ahas announced it will acquire the US company SmartEquip, an online platform providing customers with real-time service and diagnostic support, for $175 million.

Ritchie Bros. said it has entered into a definitive agreement with SmartEquip and the completion of the acquisition is subject to customary closing conditions, including, among other conditions, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

05 IRAQ Masdar to develop 1GW worth of solar projects in Iraq

Masdar has announced that it has signed a strategic agreement with the Republic of Iraq to develop five solar photovoltaic (PV) projects in the country, with a combined capacity of 1 gigawatt (GW).

The agreement with Iraq’s Ministry of Electricity and the National Investment Commission will see the development of the following projects: a 450-megwatt (MW) plant in the Dhi Qar Governate; 100 MW and 250 MW plants located in Ramadi; a 100 MW plant in Mosul; and a 100 MW plant in Amarah.

03 NETHERLANDS Mammoet’s new Focus 30 crane completes first project

Mammoet’s new Focus 30 crane has performed its inaugural lift, installing a vessel at the refinery in the UK in a top-and-tail operation executed Aalong with a 500t mobile crane.

The global heavy lifting and transport services giant said the new Focus 30 is designed to deliver significant lifting capacity at complex sites and requires no laydown area during assembly of its boom as it is erected vertically in sections. This enables the Focus 30 to be built away from the lift-site and requires the disruption or closure of less infrastructure during its use.

06 KUWAIT Tamdeen Group launches Middle East’s largest indoor multistorey go-karting track

Tamdeen Group, the Kuwaiti mixeduse property developer, has announced the opening of the largest indoor multi-storey go-karting track in the Middle East at Al Kout Mall, its flagship retail destination in Kuwait City.

A two-level rooftop location spread across 5,380sqm, Q8 Karting will be located on the 10th floor of Al Kout Mall, with a dedicated entrance from a shop inside the mall. It will also be accessible through different elevators from all levels of the indoor parking area.

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07 UNITED ARAB EMIRATES World’s first robot for interior paint jobs launched at GITEX

A new mobile, intelligent paint robot for the construction industry, billed as a world’s first, has made its debut at the Gitex Technology Week being held in Dubai and is being demonstrated at the event.

Named MYRO, the robot has been developed by the eponymous company MYRO International, which is a robotics organisation focused on solving “complex yet monotonous problems related to human productivity and workplace hazards”.

The company offers distribution licences to regional partners to supply products and services to contractors and developers.

08 UNITED ARAB EMIRATES Majid Al Futtaims begins handover of Al Lailac’s second phase at Al Zahia project

Majid Al Futtaim Communities and Sharjah Asset Management have announced the start of handovers for the second phase of the Al Lilac neighbourhood in Sharjah’s Al Zahia project, comprising 169 units of townhouses and courtyard villas.

The handover of the second phase comes after the successful completion of the first phase of Al Lilac in March and follows the successful launch and handover of Al Jouri and Al Narjis neighbourhoods. Al Lilac will be the third neighbourhood to be fully occupied within Al Zahia.

09 UNITED ARAB EMIRATES Bloom Holding appoints Emirates Link Maltauro as main contractor for Aldhay

UAE developer Bloom Holding has appointed Emirates Link Maltauro as the main contractor for its 181-unit residential project, Aldhay. Located on the Eastern Mangrove Corniche, Aldhay is scheduled for completion in the third quarter of 2023 and will add 181 townhouses to the existing 457 villas and townhouses in the developer’s Bloom Gardens masterplanned community in Abu Dhabi.

Bloom said construction work was moving at a steady pace with the enabling and piling works already completed.

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10 SAUDI ARABIA ACWA Power and Total Solar in the running for 1,200MW KSA solar projects

Acwa Power and Total Solar have become major bidders for four solar energy projects across Saudi Arabia, the country’s Ministry of Energy has announced. The four projects have a combined capacity of 1,200MW.

The competition is the third round of the country’s National Renewable Energy Programme and will allow bidding in two categories. The first category includes the 80MW Layla and the 120MW Wadi Al Dawasir solar projects, while the 300W Saad and the 700MW Ar Rass schemes will be offered in the other category.

11 SAUDI ARABIA Saudi Arabia’s PIF announces ‘The Rig’

The Rig’ has been announced by Saudi Arabia’s Public Investment Fund (PIF). Billed as the world’s first tourism destination on an offshore platform, it will span 150,000sqm, and provide several hospitality offerings, adventures, and aquatic sporting experiences.

The project is expected to feature three hotels, world-class restaurants, helipads, and a range of adventurous activities including extreme sports. It is said to align with PIF’s strategy 2021-2025 to drive innovation in Saudi Arabia’s tourism and entertainment sectors, providing promising development opportunities.

12 BAHRAIN NBB extends financing support to new hospital to include solar panel installation

The National Bank of Bahrain (NBB) has announced that it has extended its financing of the new King Hamad American Mission Hospital (AMH), which is expected to open in 2022.

In addition to financing the construction of the hospital, NBB is now also financing the installation of solar panels. The hospital will be the first eco-friendly hospital in the Kingdom, covering up to 50% of its electricity requirements from photovoltaic energy. It will occupy an area of 57,000sqm in A’Ali in Bahrain.

13 UNITED ARAB EMIRATES Dubai unveils Hatta Master Development Plan

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has approved the Hatta Master Development Plan, which is said to form an integral part of the Dubai 2040 Urban Master Plan.

The Dubai 2040 masterplan was launched earlier this year to create a roadmap for enhancing infrastructure and implementing a series of development projects and initiatives across the emirate over the next 20 years. It also aims to transform Hatta into an attractive local and international destination for business, investment and tourism.

16 INDIA Wirtgen paver sets world records during Indian highway construction

A Wirtgen SP 1600 slipform paver has set four world records during the paving of a stretch of a new highway being constructed in India linking the cities of Mumbai and New Delhi.

The SP 1600 set the record for the longest distance of motorway paved in 24 hours, completing a 2.56km fourlane stretch and its hard shoulder withing 24 hours. The stretch has a working width of 18.75m over the entire distance and the entire effort led to the creation of three more world records.

14 UNITED ARAB EMIRATES Shurooq announces four new luxury hospitality projects

The Sharjah Investment and Development Authority (Shurooq) has announced that the Mysk Moon Retreat has begun welcoming guests and bookings to experience the emirate’s first-of-itskind luxury glamping destination.

The authority also unveiled four new luxury hospitality projects – they include Al Jabal Resort in the city of Khorfakkan, a luxury hotel in the city of Kalba, another hotel in Khorfakkan, which will feature the first waterpark on the UAE’s East Coast, and Al Bridi Resort, which is part of the Sharjah Safari project in the city of Al Dhaid.

17 INDIA India’s L&T says Middle East projects constitute 61% of $9.3bn order book

Indian construction conglomerate Larsen & Toubro (L&T) has said that the Middle East is one of its key growth regions, constituting almost 61% of the company’s international order book, worth $9.3 billion. The region also accounted for 13% of its total order book composition.

In FY21, Middle East contributed the highest order backlog after its India order book, contributing 12% to its total revenue. The company’s portfolio strategy targets a well-balanced and geographically diversified businesses.

15 UNITED ARAB EMIRATES Dubai Investments to develop $272m mixeduse project on RAK’s Al Marjan Island

A $272m mixed-use beachfront residential, beach resort and lifestyle destination will take shape on Al Marjan Island, following a land acquisition deal that Dubai Investments signed with Ras Al Khaimah-based master-developer Marjan.

The project will be designed to provide a perfect amalgamation of hospitality, and residential elements inclusive of a beachfront resort, beachfront serviced apartments and beachfront villas plus waterfront residential buildings, retail and F&B components along with other recreational facilities.

18 INDIA India announces Mou with Dubai for investment in J&K

The Indian government has announced that it has signed an accord with Dubai to build infrastructure in Jammu and Kashmir, marking the first investment agreement by a foreign government in the troubled Himalayan region since the withdrawal of its autonomy and its division into two territories directly ruled from New Delhi.

The MoU will see Dubai – part of the UAE – building infrastructure such as industrial parks, IT towers, multipurpose towers, logistics centres, a medical college, and a speciality hospital.