Saudi’s NHC launches integrated living project ‘Sadayem’ in Jeddah
The National Housing Company (NHC) launched its latest premium housing project, the ‘Sadayem suburb, in North Obhur in Jeddah. Sadayem covers a total area exceeding 3.8 million square metres and houses more than 8,000 residential units, including villas, apartments, and townhouses. The integrated structures feature architectural designs inspired by the identity of the Hijazi region, […]
Riyadh gets Middle East’s first Holiday Inn with open lobby concept
IHG Hotels and Resorts recently opened the Holiday Inn Riyadh The Business District in Saudi Arabia. The new property features the brand’s first open lobby concept in the Middle East. The concept combines all public spaces, including the reception area, restaurant and bar, into one cohesive space. The open lobby includes a media lounge, a […]
ENGIE & PIF strike MoU to develop green hydrogen projects in Saudi Arabia
ENGIE, the leading provider of low-carbon energy services and solutions for integrated utilities management, has signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF) for the joint development of green hydrogen projects and its derivatives in Saudi Arabia. The MoU was signed by Mr. Frederic Claux, Managing Director, Flexible Generation and Retail, […]
ACWA awards EPC contract for Rabigh 4 Independent Water Plant project
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG), has signed an engineering, procurement, and construction (EPC) contract with a consortium of Power China, SEPCOIII, and WETICO for the 600,000 m3/day […]
Saudi Arabia & Turkey explore cooperation in various sectors
Saudi Arabia’s minister of municipal and rural affairs and housing, Mr. Majid Al-Hogail has discussed means of cooperation in the fields of economy, urban development, city planning, and general development with ministers and officials of the Turkish government. The Saudi officials’ visit to Turkey intends to strengthen partnerships between the two sides in the areas […]
Saudi-based HyperPay adds Sanad Cash to its digital payment platform
HyperPay, the largest and fastest-growing payments services provider in the MENA region, has acquired Sanad Cash, the leading Saudi spend management fintech. This strategic move aims to bolster HyperPay’s service offerings and solidify its standing as a comprehensive all-in-one digital solution across the MENA region. Moreover, it represents a significant milestone in HyperPay’s mission to […]
GCCIA strikes MoU with Royal Commission for Jubail and Yanbu
Gulf Cooperation Council Interconnection Authority (GCCIA) and the Royal Commission for Jubail and Yanbu (RCJY) have signed a Memorandum of Understanding (MoU) in order to bolster collaboration frameworks, promote shared standards, and encourage the exchange of expertise. The MoU marks a significant step towards fruitful partnership in various fields, including industry, development, strategy, academia, science, […]
ACWA Power signs MoU to allocate land for 10 GW wind project in Egypt
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) in order to allocate land for a 10 GW wind project in Egypt. The MoU allocates approximately 3,000 square kilometers of […]
Chapman Taylor unveils design for Jeddah mixed-use project
Chapman Taylor, a key architect and masterplanner, has unveiled the design for Porta Jeddah, a mixed-use development coming up in the Saudi port city on a 150,000-sq-m gross building area. On completion, the project, which is being developed by Saudi developer Al Akaria, is set to become an iconic landmark for Jeddah, featuring a wide […]
First Mills posts higher profits in Q1-23 initial financials
First Milling Company (First Mills) logged net profits after Zakat and tax amounting to SAR 73.75 million in the first quarter (Q1) of 2023, up 1.80% from SAR 72.45 million in Q1-22. Revenues climbed by 5.44% to SAR 255.54 million as of 31 March 2023 from SAR 242.36 million a year earlier, according to […]