Dale Stigamier has formally taken over as the executive leader of LCK as the project management firm prepares for its next phase of expansion across the Southeast. The transition comes as Mickey Layden steps down from her role as Chief Executive Officer after leading the company for 32 years. Layden will now serve as Founder and Chair Emeritus where she will focus on business development and community engagement.
MIDAR for Investment and Urban Development has signed a multi-billion pound agreement to establish the first social sports club in the third phase of Mostakbal City. Occupying 42 feddans, the EGP 3 billion project is being developed in collaboration with Alexandria Sporting Club’s investment arm. The facility will offer world-class sports courts, fitness centres and social areas, with the first phase set to open in early 2027.
The National Debt Management Center has secured a USD 13 billion syndicated loan to fund essential utility projects across Saudi Arabia. This seven-year arrangement is designed to support the development of power and water infrastructure. It aligns with the Kingdom’s Medium-Term Debt Strategy which focuses on diversifying funding sources. The capital will be directed toward development and infrastructure initiatives tied to the Saudi Vision 2030 economic plan.
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.
La Rosa Holdings Corp. has confirmed the appointment of Nicholas Adler as its new Chairman of the Board. Mr Adler joins the Nasdaq listed firm effective from 29 December 2025 and will also lead the Compensation Committee. The company is currently focusing on expanding its footprint in real estate backed technology infrastructure. This leadership change is intended to support the firm's long term growth and data centre development goals.
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.
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