Global real estate firm JLL has agreed to acquire a significant stake in the Saudi Facility Management Company (FMTECH), a firm established by the Public Investment Fund (PIF) in 2023. The PIF will remain the majority shareholder. This strategic transaction aims to enhance the facilities management sector in Saudi Arabia by combining the PIF's market scale with JLL's advanced operational and technological expertise, specifically JLL’s digital facility management platforms.
Vietnam has inaugurated its first LNG power plants, Nhon Trach 3 and 4, in Dong Nai Province. Built by Petrovietnam at a cost of USD1.4 billion, the 1,624 MW twin plants will generate over nine billion kWh annually to stabilise the national grid, particularly in the south. Prime Minister Pham Minh Chinh stated the project is crucial for national energy security, supporting the country's rapidly growing demand from high-tech sectors.
Toll Group has launched Singapore’s first decarbonisation hub dedicated to electric supply vessels, a 12-month proof-of-concept developed with Yinson GreenTech. The hub integrates electric marine transport, smart warehousing, and efficient trucking into one digitally connected operation.
Saudi Arabia is moving ahead with its plans for Advanced Air Mobility with the General Authority of Civil Aviation (GACA) signing an agreement with US-based Archer Aviation. The collaboration aims to develop a regulatory path for electric vertical take-off and landing (eVTOL) air taxis in the Kingdom. The first routes are expected to connect Riyadh and Jeddah, and service the nation’s giga-projects like Red Sea Global.
Real Finance, a Layer-1 blockchain network focused on the tokenisation of real-world assets (RWAs), has raised a total of $29 million in private funding. The capital includes a $25 million commitment from Nimbus Capital and a $4 million private round led by Magnus Capital. The financing is a major step in the company's strategy to expand its compliance-ready infrastructure and accelerate the onboarding of institutional financial partners.
Romania has announced the Dracula Land project concept, a private investment exceeding €1 billion aimed at creating the largest entertainment, retail, and technology destination in Europe. The 160-hectare site, located near Bucharest and Otopeni Airport, is a collaboration between Romanian investors Dragoş Dobrescu and George Toader and international partners.
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