Marriott International has partnered with Shanghai SIIC North Bund New Landmark Construction and Development Co., Ltd. to introduce the world's first urban Ritz-Carlton Reserve in Shanghai. Set to open in 2030 within a 480-metre high-rise in the North Bund district, the 110-room hotel will make Shanghai the only city to host all eight Marriott luxury brands.
UAE developer Arada has expanded into Queensland with plans for an AED5 billion twin-tower residential development in Broadbeach on the Gold Coast. Marking its first project outside New South Wales, the scheme will deliver 952 homes ahead of the 2032 Olympic and Paralympic Games. Arada’s subsidiary, Roberts Co, will handle construction.
Penta Real Estate has acquired a 50% stake in HoldCo Bubny s.r.o. to lead the transformation of Prague’s Bubny-Zátory site. Partnering with AKIPIA and J&T, the firm will oversee a CZK 90 billion urban development project across 250,000 square metres. Running until 2050, the master plan includes 10,000 homes, office space, schools and public amenities, marking the largest project in Penta’s history.
Skanska has signed an agreement in a joint venture with Stacy Witbeck to construct the East San Fernando Valley Light Rail Transit Project for LA Metro in Van Nuys, California. Skanska’s share of the overall USD 1.9 billion contract stands at USD 957 million (approximately SEK 8.9 billion), booked under third-quarter 2026 US orders. The 10.8-kilometre ground-level system with 11 stations will complete in December 2031.
Saudi Arabia's Acwa has signed a major deal with Indonesia's state salt firm PT GARAM to build a $400 million integrated facility in East Java. The plant will process 62,500 cubic metres of desalinated water daily alongside 500,000 tons of high-purity industrial salt per year. The initiative aims to reduce Indonesia's reliance on salt imports while delivering crucial industrial water supplies.
Construction is underway on The Orchard Place in Dubai. Designed by SPECTRUM Architecture, the scheme integrates residential, commercial, and office spaces within a unified development. Built over a central five-storey podium connecting two high-rise towers, the project translates extensive research into site topography, climate, and modern urban living into physical form. Active structural works are currently progressing on the site.
