IRAQ
Project: Golf Resort
Value: USD 1,500,000,000
Client: Eagle Hills
Website: www.eaglehills.com
Eagle Hills Properties, a private real estate investment and development company based in Abu Dhabi, announced the completion of the site purchase for its most recent project, the ‘Baghdad Golf Course and Spa,’ located in the center of Baghdad. This distinguished development, estimated to be worth $1.5 billion, will include a five-star hotel, exclusive residential communities, an exceptional golf course, and a private resort club. The Baghdad Golf Course and Spa is destined to become a well-known landmark in the Iraqi capital, effectively combining modern luxury with the region’s rich cultural heritage.
SAUDI ARABIA
Project: Construct Residential Units
Value: USD 347,000,000
Client: Sumou Real Estate Company
Website: www.sumouholding.com
Sumou Real Estate Company penned an agreement with Jubail and Yanbu Industrial Cities Services Company (Jabeen) to construct 1,104 residential units in Yanbu industrial city. The contract is effective from the date of signing 2 July 2024, while the development and implementation period is 36 months. It is expected that the project will have a positive impact on Sumou Real Estate’s results from the beginning of the development and implementation work on the project.
QATAR
Project: Salt Production Plant
Value: 275,000,000
Client: QatarEnergy
Website: www.qatarenergy.qa
QatarEnergy announced plans to construct a state-of-the-art salt production plant in the Um Al Houl area in a significant move to bolster industrial localisation and economic sustainability. This project is a joint venture involving Mesaieed Petrochemical Holding Company (MPHC), Qatar Industrial Manufacturing Co. (QIMC), and other strategic partners.
The innovative facility will utilise reject water recovery from reverse osmosis (RO) desalination units, converting wastewater into a valuable resource. With a production capacity of one million tons per annum, the project will significantly reduce Qatar’s reliance on imported raw materials, replacing the 850,000 tons of table and industrial salts currently imported each year.
UNITED ARAB EMIRATES
Project: Hydrogen Equipment Manufacturing Complex
Value: USD 272,300,000
Client: Broaden Energy
Website: www.broaden-energy.com
The Abu Dhabi Department of Economic Development (ADDED) signed of a Memorandum of Understanding (MoU) with Broaden Energy to establish the first hydrogen equipment manufacturing complex in Abu Dhabi.
Under this agreement, Broaden Energy will establish the first hydrogen equipment manufacturing complex in Abu Dhabi. This complex aims to support the goals of the Abu Dhabi Industrial Strategy (ADIS), advancing sustainability, developing value chains, and strengthening Abu Dhabi’s position as the region’s most competitive industrial hub.
The new manufacturing complex, with over AED 1 billion in investments, will serve as a cornerstone for the region’s hydrogen economy, creating new job opportunities and stimulating economic development and innovative industrial solutions.
UNITED ARAB EMIRATES
Project: Construction of The Astera
Value: USD 245,000,000
Client: Dar Global
Website: www.darglobal.co.uk
Dar Global, a London-listed luxury real estate developer, has launched The Astera, a new beachfront residential development in Ras Al Khaimah, UAE. The project marks the first time Aston Martin’s internationally design team has worked on a real estate development in the Middle East.
The waterfront property, set to be completed by December 2028, will become a new landmark on the Arabian Sea for fans of the legendary sports car brand.
The complex will feature expansive one-, two-, and three-bedroom apartments, as well as three bedroom villas, with the added luxury of a hidden private beach. Infused with the spirit of British ingenuity The Astera, Interiors by Aston Martin aims to create a seamless combination of bespoke style, cutting-edge materials, painstaking artistry, and unrivaled utility, with the ultimate goal of becoming one of the world’s most desirable beachside houses.
UNITED ARAB EMIRATES
Project: One Park Central Project
Value: USD 191,000,000
Client: Iman Developers
Website: www.imandevelopers.com
Dubai-based developer of luxury projects IMAN Developers announced the groundbreaking of their $191m One Park Central project, a mixed-use development located in Jumeirah Village Circle (JVC). The development, which comprises a basement, a ground floor, five parking floors, 23 residential floors and one rooftop, will house 482 residential apartments, 38 commercial units, and six retail spaces and 60 premium amenities. One Park Central is expected to be completed by the second quarter of 2027. The project will offer residential units ranging from studios to 4-bedroom apartments within a price range of AED650,000 to AED 3 million.
UNITED ARAB EMIRATES
Project: Construct bridge
Value: USD 117,360,000
Client: Roads and Transport Authority
Website: www.rta.ae
The Roads and Transport Authority (RTA) partnered with Shamal Holding to construct direct entry and exit points for Dubai Harbour. The plan involves building a 1500-metre bridge with two lanes in each direction connecting Sheikh Zayed Road to Dubai Harbour. The bridge would accommodate 6,000 vehicles per hour and reduce travel time from 12 minutes to 3 minutes.
The new bridge project aims to ease movement in and out of the area by providing direct access from Sheikh Zayed Road.