The new Chedi Private Residences Downtown is the second branded residential tower to be developed in partnership with Al Seeb Real Estate Development. The decision to move ahead with the second project quickly followed the successful launch of the first project, The Chedi Private Residences Sheikh Zayed Road. This debut development sold 65% of its units within months of its market introduction earlier in the year. The latest signing confirms Chedi Hospitality’s rapid expansion in the luxury branded residences segment, a drive that includes the recently announced Chedi Residences Wadi Safar in Saudi Arabia.
Peregrine Hospitality has named Kristen Richter as its new Chief Commercial Officer, succeeding Kristie Goshow. Richter joins the company from Accor, where she was CCO for the Fairmont and Raffles brands, overseeing all commercial strategy elements, including sales, revenue, and distribution. Richter will now be responsible for Peregrine’s commercial strategy, revenue management, sales, and marketing across its portfolio. CEO Greg Kennealey praised Richter as an "exceptional commercial strategist" whose leadership will be crucial for optimising the company's revenue strategies. Richter sees the opportunity to refine how commercial strategy informs every business decision to drive sustained revenue growth.
Maersk has officially opened its largest contract logistics facility in Asia Pacific, the Maersk Mega Distribution Centre (DC), which substantially increases its warehouse capacity in Malaysia. The facility spans nearly 180,000 square metres and offers 100,000 pallet positions for multi-client use, handling commodities like consumer goods and apparel. The site features state-of-the-art automation systems, including Autonomous Mobile Robots and an Automated Storage and Retrieval System, to ensure fast, accurate order fulfilment. The development aligns with Malaysia’s Logistics and Trade Facilitation Masterplan, aiming to establish the nation as the ‘Logistics Gateway to Asia’.
Altus Group Limited has announced significant changes to its senior leadership structure following the conclusion of a comprehensive strategic review. Jim Hannon, the company's Chief Executive Officer and Director, has departed his roles with immediate effect. The commercial real estate intelligence provider, trading on the TSX as AIF, simultaneously appointed former CEO Mike Gordon as Executive Chair. Mr. Gordon is confirmed to take over the CEO position fully in Q1 2026. Current Chair Raymond Mikulich is stepping down but will retain his seat on the Board of Directors.
TA’ZIZ, a joint venture between ADNOC and ADQ, has awarded a $1.99 billion Engineering, Procurement and Construction (EPC) contract to China National Chemical Engineering & Construction Corporation Seven, Ltd. (CC7). The contract is for constructing the UAE's first integrated, single-site polyvinyl chloride (PVC) production complex, which will be one of the top three largest globally. The Phase 1 ecosystem is expected to contribute $50 billion to the national economy and create 26,000 jobs.
Japanese architectural company SOBOKUYA, specializing in traditional carpentry and sustainable design, will establish its first Middle East base in the Dubai Design District in November. The company is exhibiting at Dubai Design Week 2025 in collaboration with Nikken Sekkei Dubai FZ-LLC. From its new Dubai base, SOBOKUYA plans to expand into Europe, South Asia, and Africa, developing projects that combine Japanese minimalism, wabi-sabi aesthetics and modern functionality. The move follows the establishment of SOBOKUYA's bases in Vietnam, marking a key next step in its global expansion.
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