Saipem has secured a significant offshore contract valued at approximately 425 million USD for the Sakarya gas field development in the Black Sea. The agreement with Turkish Petroleum OTC involves the extension of the third phase of the project to include the recently discovered Goktepe field. This expansion requires the installation of 153 km of pipelines and subsea structures at depths of 2,200 meters. The project aims to increase production capacity to meet growing energy demands.
Umm Al Qura for Development and Construction Company has entered into a new partnership to further the growth of the Masar Destination in Makkah. The firm signed a non-binding memorandum of understanding with BIM Capital and Ajbal Real Estate Development Company to create a private real estate fund. With a target capital of 221,000,000 Saudi Riyals, the venture focuses on the construction of new hotel units. This move aligns with the company strategy of using joint ventures to deliver large-scale urban projects.
The Royal Commission for Riyadh City (RCRC) has unveiled Package 3 of its massive road development programme. This latest phase involves six major projects with a budget exceeding SAR 8 billion. Aimed at modernising the capital's transport network, the initiative aligns with Saudi Vision 2030 to turn Riyadh into a global logistics and mobility hub. Construction is expected to take between three and four years.
Golden Land Development has announced its first residential venture, Naseem compound, located in the Green Revolution area of Sheikh Zayed. The EGP 5 billion project features a low-density design with only 27% building coverage across 8.5 feddans. Offering units from one to four bedrooms, the development is positioned near the Grand Egyptian Museum and Sphinx International Airport. With payment plans extending up to ten years, the project marks a significant expansion for the developer into Egypt’s luxury residential market.
DRI has confirmed the completion of its 126 MWp Văcărești solar park in Romania, marking its fourth major renewable energy project in the country. This latest development pushes the company’s total operational capacity in Romania to nearly 300 MWp within just three years. The facility is expected to generate enough clean electricity to power roughly 50,000 homes while cutting carbon emissions by more than 48,000 tonnes annually.
Modon has awarded an AED 5 billion construction contract for the Nawayef East and Nawayef West developments on Hudayriyat Island, marking Abu Dhabi's biggest residential deal of 2025. The project will see 735 luxury villas built on record-breaking man-made hills, some rising up to 55 metres high. This landmark agreement follows earlier infrastructure works as the island continues its transformation into a premier residential hub.
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