The Big Picture

01 UNITED KINGDOM CBBG Group expands with opening of London office

Specialist construction expert services firm, CBBG Group, has announced an expansion of its services with the opening of its fourth office in London, following the opening of its offices in Abu Dhabi, Dubai and Doha.

Established in September 2019, the CBBG Group has established itself in the Middle East and is now looking to continue its growth globally through its London office.

The London office will be led by Lance Crane, who is the seventh partner to join the firm.

04 EGYPT GV Developments signs MoU with Egis for Tarboul Industrial City in Giza, Egypt

Egyptian real estate developer GV Developments has signed an MoU with Egis for the development of Tarboul Industrial City in Giza, Egypt.

The project will spread over 109 million sqm, with every area aimed at serving the purpose of sustainable production. It is to become a green, smart and liveable industrial city in the heart of Egypt’s trade area.

The industrial city is aligned with Egypt’s 2030 Vision which is aimed at improving the quality of life of Egyptians.

02 FRANCE Accor to open 38 branded residences by 2024

Accor is set to open one branded residential project every six weeks throughout 2023 and 2024 – further adding to its global portfolio of over 130 branded residential projects. The company said that it has been operating private residential communities for more than 20 years.

The branded residences are operated on both a managed and franchised basis across 22 of the group’s brands, with a growing development emphasis on India, Turkey, Africa and the Middle East regions, where more than 40% of new projects will be based.

05 EGYPT Egypt’s Archplan Developments says 60% of construction completed on region’s first urban forest project

Egypt’s Archplan Developments has completed 60% of construction works on its US$16 million Il Cuore Verde commercial development in the New Administrative Capital.

The seven-storey project is being hailed as the first building in the Middle East to incorporate the concept of an urban forest. It will be completed in 2026 and is spread over an area of 3,400sqm.

03 GERMANY Masdar and RWE Renewables to explore collaboration on offshore wind projects

Masdar and Germany’s RWE Renewables have signed a memorandum of understanding (MoU) to explore collaboration on developing offshore wind projects across a range of key markets, such as US, UK and South Korea.

“By leveraging our two companies’ extensive expertise in this sector, we can help other nations to meet their offshore wind targets, transition to clean energy sources, and meet their net-zero objectives,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.

06 SAUDI ARABIA JLL appoints Saud Mohammed Alsulaimani as KSA country head

JLL has announced the appointment of Saud Mohammed Alsulaimani as its Country Head in the Kingdom of Saudi Arabia. The firm said the move will see Alsulaimani expand and strengthen JLL’s presence in the country as a market leader in real estate with a focus on technology and sustainability.

The decision comes at a time when national efforts are being maximised toward boosting the Kingdom’s business environment and increasing the capacity of Saudi citizens in leadership

01

02 03

04

05

06 07

08 09

07 UNITED ARAB EMIRATES Virtuzone launches ‘The V’ tower in the metaverse

Dubai-based Virtuzone has said that it is partnering with pax.world to build its flagship metaverse office tower, which will be known as ‘The V’. Pax. world is billed as a blockchain metaverse with an early-mover advantage.

The office tower has been designed to meet the needs of a growing global digital nomad economy, and will provide an interactive, end-to-end ecosystem for digital nomads, remote workers and global entrepreneurs. The metaverse skyscraper is meant to attract and provide a virtual headquarters to millions of digital nomads.

08 UNITED ARAB EMIRATES Driver Trett announces Jonathan Sanderson as regional MD for Middle East

Consultancy Driver Trett has announced that Jonathan Sanderson has returned to the business as the Regional Managing Director for the Middle East.

Sanderson initially joined Driver Trett in 2018, successfully leading the claims department of the company’s Oman office, and subsequently became Oman Country Manger in 2021.the consultancy said that Sanderson has more than 30 years of experience in the construction industry, spread across the UK, Europe, and the Middle East.

09 PAKISTAN World Bank to provide $2bn in aid to Pakistan

The World Bank has announced that it will provide US$2 billion in aid to Pakistan, following the unprecedented floods that recently devastated the country. The financial institution said that the aid would be for reconstruction and rehabilitation, which includes food, shelter and other urgent needs of victims of the floods.

Record rain fall triggered severe flooding in Pakistan that has killed over 1,600 people, and affected over 33m people since mid-June. Scientific analysis revealed that climate change had a significant hand in causing the deadly floods.