Suntex Enterprises has signed a Letter of Intent to launch a North American real estate initiative exceeding $1 billion over five years. Anchored by two Alberta projects expected to generate $575 million, the company plans to build, own and monetise master-planned sites in Canada and the US. Suntex is also divesting its beverage arm for $5 million to fund growth.
PASHA Real Estate Group and Marriott International have agreed to a multi-property deal to build three hospitality and residential sites in Azerbaijan and Georgia. The plans feature an 80-room Ritz-Carlton resort and 282 residences in Zagulba, a 238-unit residential tower extension in Baku, and a 152-room Le Méridien hotel in central Tbilisi.
Saudi Arabia's Public Investment Fund has established the Gulf Coast Development Company to build a major coastal scheme in Al-Khafji. Spanning 20 square kilometres with a 10-kilometre waterfront, the site will feature 16,000 homes, 1,400 hotel rooms and dedicated marinas. The initial phase will deliver three neighbourhoods by 2030 in partnership with private sector investors.
Meraas has awarded Parkway International Contracting a main construction contract valued at over AED 590 million for Phase 3 of City Walk Crestlane. The project will deliver 394 new apartments across four buildings in central Dubai. Groundwork and initial building works are currently underway on the site, with completion expected in the third quarter of 2028.
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