Author: Aya Zhang

Alat, an innovative company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia, today announced four global partnerships with leading technology companies, Softbank Group, Carrier Corporation, Dahua Technology and Tahakom. Alat, a PIF company, will deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon zero manufacturing. Alat is quickly delivering its mandate by partnering with the world’s leading corporations to innovate and transform industries, with a commitment and focus on using clean energy. Alat will invest US$100 billion by 2030 to enhance the capabilities…

Doka, a global leader in formwork and scaffolding, now combines its strengths with Malaysian-based MFE Formwork Technology, market leader in monolithic aluminium formwork. Doka and MFE – together, they are now the major player in the Asia-Pacific region. For customers, this means innovative solutions from a single source. With this acquisition, Doka has achieved another significant milestone in its strategic growth plan and thus strengthen its position in Southeast Asia and the Pacific region, an important growth market alongside North America.   Robert Hauser, CEO of Doka GmbH, says: “I am very pleased to finally announce that MFE is now part…

Majid Al Futtaim Development named Innovo Build, the design and construction arm of Innovo Group, as the main contractor for the construction of Elysian Mansions, a prestigious development encompassing 94 mansions in Tilal Al Ghaf, Dubai’s first BREEAM-certified project. The project has a contract value of AED 1.13 billion (£240 million).  Bishoy Azmy, Founder and CEO of Innovo Group, commented: “Innovo is proud to continue to be the contractor of choice for major developments in Dubai. We are particularly excited to bring our commitment to sustainable building practices to this community, delivering Dubai’s first BREEAM-certified project. This project will also…

Nesma & Partners, the leading contracting company in Saudi Arabia, has signed a Memorandum of Understanding (MoU) with King Fahd University of Petroleum & Minerals (KFUPM), a prestigious University and a Research Institute in Saudi Arabia. The MoU aims to establish joint cooperation between both parties to achieve constructive, fruitful collaboration in the academic, scientific, training, research, and development fields. The MoU was signed by Rami AlTurki, the Executive Committee chairman and a board director at Nesma & Partners, and Dr. Muhammad M. Al-Saggaf, President of KFUPM, under the patronage of HRH Prince Abdulaziz Bin Salman Bin Abdulaziz, Minister of…

ROSHN Group, Saudi Arabia’s leading real estate developer and PIF-owned giga-project, opens a new chapter for Jeddah’s development with the ground-breaking of MARAFY. This unique new global destination brings waterfront living and a rich diversity of world-class retail, entertainment, hospitality and experiential infrastructure to Jeddah, positioning the city to become one of the top 100 liveable cities worldwide, in line with Saudi Vision 2030 goals. The groundbreaking, held under the patronage of HRH Prince Khalid Al-Faisal bin Abdul Aziz Al-Saud, Governor of Makkah Region, in the presence of HRH Prince Saud bin Mishaal Al-Saud, Deputy Governor of Makkah Region, and HH Prince Saud…

Global engineering, design and advisory practice Buro Happold has appointed Deepak Chotwani as Regional Managing Director of India. As a Partner and member of the Global Leadership Team, Deepak takes responsibility for the overall business across Buro Happold’s India region, leading key strategic and growth initiatives and developing the company and its people. Deepak has held several senior leadership roles at Buro Happold since 2013. He is a business-focused transformational leader with a wide variety of experience over 20 years spanning four continents. He previously managed Buro Happold’s business in APAC, working with the regional teams to develop the Hong…

DP World today celebrated the groundbreaking of its new Agri Terminals facility at Jebel Ali Port, marking the start of a transformative journey to bolster food security in the UAE. Alongside Adroit Overseas Canada and Al Amir Foods, DP World will invest a total of AED 550 million ($150 million) to build the state-of-the-art Agri Terminals complex which will specialise in storing and processing various agricultural products, including pulses, grains, corn, and soybeans. It will leverage DP World’s innovative infrastructure such as pneumatic ship unloaders and advanced conveying equipment. With the first phase scheduled for completion in early 2025, this landmark project underscores…

Acting as the southern gateway to China and important node of GBA, Shenzhen is a modern metropolis located immediately north of Hong Kong, bearing significance in steering the economic growth of both cities and creating a transportation hub that connects the communities. Standing at 247m tall, the Huanggang Port Headquarters is set to be the new landmark for the Shenzhen Technology and Innovation Park and Shenzhen Hong Kong Cooperation Zone.  Drawing inspiration from the surrounding landscape and reflecting the regional characteristics, the design is based on the imagery of stacking stones and rivers. A simple fluid architectural form is adopted…

In the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority, the National Shipping Company of Saudi Arabia (Bahri) today laid the cornerstone for the establishment of a logistics center at Jeddah Islamic Port. The ceremony was also graced by Omar Hariri, President of the Saudi Ports Authority (Mawani) and Eng. Ahmed Ali Al-Subaey, CEO of Bahri.  This state-of-the-art facility, which will cover a total area of 95,436 square meters, will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas, handling services, and…

Tabreed, the UAE’s leading international district cooling company, today released its consolidated financial results for the year 2023, reporting a revenue of AED 2.4 billion – a 9% increase over 2022 – and a net profit attributable to parent, before deferred tax, of AED 751 million. Tabreed’s balance sheet strengthened further, underscored by an improved net debt/EBITDA ratio of 4.11x (4.49x as end of FY 2022). Tabreed’s net debt decreased in 2023 thanks to strong cash generation and a decline in gross debt due to a proactive debt management exercise carried out during the year. As a result of prudent financial management, the company achieved reductions in its net finance…