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Etihad ESCO and Vision Invest has announced a new Joint Venture Company that has been established to provide fully integrated energy efficiency solutions for both the private and public sectors in the Kingdom of Saudi Arabia (KSA). The move is in support of KSA Vision 2030, wherein sustainability, conservation and efficiency are key themes in building a sustainable and efficient economy. 

Alex Kniveton has joined international multi-disciplinary engineer Cundall as MEP Director in the Middle East as part of company’s growth. Alex’s primary focus will be to strengthen Cundall’s building services delivery and project portfolio in the region.

Savills, one of the world’s leading real estate advisors, has released its first comprehensive view of the United Arab Emirates, The UAE Property Report. According to the specialist report, the UAE Government’s increased investment into infrastructure, its commitment to diversifying the economy and positive regulatory changes have paved the way for economic recovery and growth.

Increased government spending and progress on giga-project developments provide a catalyst for future investment opportunities in Saudi Arabia, outlines JLL’s 2018 Year in Review report.

With stronger oil revenues and progress on new social reforms, GDP growth levels are expected to register 2.4% in 2018 according to Oxford Economics, up from -0.9% in 2017. 2019 is expected to witness ongoing activity on the back of the Kingdom’s largest ever expansionary budget (SAR 1 trillion in spending), and commitment to driving economic growth in line with Vision 2030’s objectives.

A major contract to complete 29,000 sqm of public spaces at Expo 2020 Dubai – worth AED 169 million – has been awarded to a UAE-based contractor, reinforcing the World Expo’s commitment to support Emirati companies and create a long-term positive impact on the country’s economy.

Arabtec Construction has secured the contract, which includes a 5,000 sqm water feature, restaurants, utilities and landscaping elements. The company will start work immediately.