King Abdullah Financial District Development and Management Company (KAFD DMC) has secured a US $3.2bn, 15-year, senior-secured Murabaha facility, its first independently secured debt facility.

Arranged with a syndicate of leading local and regional financial institutions, the facility demonstrates market confidence in KAFD’s long-term fundamentals and increasing private sector interest in financing major projects across the Kingdom, the developer said.

Al Rajhi Capital acted as the Structuring Advisor for the Facility, with participation from Al Rajhi Bank, Saudi Awwal Bank, Saudi National Bank, Riyad Bank, Alinma Bank, Arab National Bank, Gulf International Bank – Saudi Arabia, as Mandated Lead Arrangers, along with Bank Albilad, Mashreqbank PSC and National Bank of Kuwait as the bookrunners. The breadth and profile of the participating institutions reinforce KAFD’s attractiveness to private sector investors, underpinned by its track record of delivery and long-term outlook.

“The facility diversifies funding sources and bolsters KAFD’s ability to execute its long-term strategic priorities. The company’s ability to attract significant non-government funding underscores its maturity as a trusted investment destination, reinforcing the strength and confidence among local and regional banking partners,” it said.

This confidence has been built steadily over KAFD’s 8-year transformation since its acquisition by the Public Investment Fund (PIF) in 2018. The facility will be used for further development across the district, including the continued delivery and enhancement of KAFD’s assets, supporting the district’s long-term development objectives and positioning as a leading global business and lifestyle destination.

KAFD DMC, MD, John Pagano, highlighted the significance of the facility to KAFD’s growth, noting, “Securing this landmark multi-bank facility is a strong vote of confidence in KAFD’s strategy and proven delivery record. It strengthens our optionality, diversifies our funding sources, and positions us to accelerate the next chapter of the district’s growth in partnership with private capital. KAFD has moved from vision to investable reality, an enduring platform for business and lifestyle at the heart of Riyadh’s economy, aligned with the ambitions of Saudi Vision 2030.”

Ibrahim AlSughayer, CFO of KAFD DMC said, “This facility reflects the confidence of our banking partners in Riyadh’s real estate market, in KAFD as a leading development, and in our ability to execute our strategic vision. The facility supports our ongoing development of KAFD, as we continue to cement KAFD’s role as Riyadh’s leading business and lifestyle destination.”

“The funds will be used to advance key development priorities and reinforce KAFD’s standing at the heart of Riyadh’s economic growth and diversification,” he added.

Hossam E Al Basrawi, CEO of Al Rajhi Capital concluded, “KAFD is a strategic national asset and plays a critical role in supporting the Kingdom’s Vision 2030 objectives. We are honoured to have partnered with the company on this landmark transaction as the sole Structuring Advisor. The strong demand reflected in the oversubscribed order book, together with participation by 10 local and regional banks, is a clear testament to the company’s unique market positioning and robust business fundamentals.”

Source: ME Construction News

During a recent session presided over by Abdullah Al-Muhairi, the Municipal Council (MC) approved the Ministry of Public Works’ request to allocate the right-of-way for the Kuwait–Saudi Arabia railway project.

The railway project is said to span a total of 85km, stretching from the southwestern border to Al-Shadadiya.

Furthermore, the Council approved the Ministry of Interior’s request to amend its previous decision regarding driving school sites that were previously used by the Kuwait Driving School Company. Additionally, the Council approved 2 requests from the Ministry of Electricity, Water, and Renewable Energy.

The initial concern revolved around determining the appropriate route for overhead power lines that would connect the primary electricity substation, Z3, located in the Sabah Al-Ahmad residential area, to the Mohammed Al-Ahmad Naval Base (Navy-A) situated in the Al-Zour area.

The second approved request involved allocating a route for cables originating from a main electricity substation in the Al-Wafra residential area and extending northward towards the Abu Kharjin and Al-Sabahiya areas.

The Council said it also approved 3 requests from the Ministry of Defense, as well as a request from the Green Urban Development Initiatives Committee to construct a memorial at the intersection of Fahaheel Road and the First Ring Road, spanning the Dasma and Bneid Al-Gar neighborhoods.

Additionally, the Council approved a request from the Ministry of Social Affairs to relocate a restaurant in Khaldiya (suburban center) to be situated adjacent to the police station. Furthermore, a portion of a park in Shaab, specifically plot number 8, was allocated for the construction of secondary transformer station number 2.

Source: ME Construction News

Mohammed Jalal Contracting has been appointed by Bahrain-based Seef Properties to deliver main construction works within the Seef Mall – Seef District redevelopment project. Seef Properties said that the project aims to revitalise the mall with a modern and refreshed design, elevating the shopping, entertainment, and hospitality experience in Bahrain.

The agreement is said to align with Seef Properties’ long-term vision of developing its assets and commercial centres to keep pace with visitor expectations and rapid changes in the retail and entertainment sectors, said the company.

It also said the move will strengthen Seef Mall’s position as one of the leading integrated destinations in Bahrain and the region, while maintaining operational continuity and seamless services throughout the various phases of redevelopment.

Essa Mohamed Najibi, Chairman of the Board of Directors of Seef Properties commented, “The Seef Mall – Seef District redevelopment project is a cornerstone of the company’s strategy to enhance the competitiveness of its real estate assets and solidify its position in the retail and entertainment sector in the Kingdom of Bahrain. The signing of this agreement reflects ongoing progress in implementing the Board’s vision to develop modern destinations that keep pace with future changes while meeting the needs of new generations of visitors and shoppers.”

Under the terms of the agreement the contractor will undertake the main construction and development works, adhering to the highest engineering and technical standards. This includes creating new spaces dedicated to upscale restaurants and cafes featuring diverse modern concepts, as well as implementing planned expansions to foster a vibrant environment and provide visitors with a comprehensive experience combining shopping, hospitality, and entertainment in one destination.

The scope of work also encompasses the development of supporting services for the new expansions aligned with the overall vision for the project, enhancing the mall’s appeal as a modern family-friendly destination that caters to various age groups, Seef Properties noted.

Najibi added, “We believe that continuous investment in the development of high-quality assets is a key factor in enhancing sustainable value for our shareholders and supporting the Kingdom’s economic growth. Therefore, we continue to implement strategic projects that enhance the quality of our offered experiences, cementing Seef Mall’s position as one of the leading commercial and social destinations in Bahrain and the region.”

“We take pride in our partnership with Seef Properties in executing this significant development project, which is among the key initiatives in Bahrain’s retail and hospitality sector. We will leverage our engineering and execution capabilities to ensure the completion of works according to the highest standards of quality and efficiency, supporting Seef Properties’ vision of developing a modern, integrated destination that exceeds visitors’ expectations and meets future demands,” explained Ahmed M Jalal, Deputy Chairman of the Board of Directors of Mohamed Jalal Contracting.

The Seef Mall – Seef District development project is said to be one of the company’s prominent strategic projects. It involves modernising and expanding a wide range of indoor and outdoor facilities, alongside the introduction of innovative concepts in hospitality, entertainment, and shopping, further solidifying the mall’s status as a prominent commercial and social landmark in Bahrain.

Ahmed Yusuf, CEO of Seef Properties stated: “The signing of this agreement with our main contractor marks a significant milestone in the Seef Mall – Seef District redevelopment project, signifying its transition to an advanced implementation phase according to our approved timelines. Through this phase, we aim to realise our vision by upgrading facilities and spaces and introducing new concepts that reinforce Seef Mall’s position as a premier shopping, entertainment, and hospitality destination in Bahrain.”

“At Seef Properties, we continue to invest in our strategic assets and projects which support vital economic sectors, particularly tourism and retail. We are confident that this project will enrich Bahrain’s commercial and urban landscape, offering visitors a more diverse and integrated experience in the coming years,” he concluded.

Source: ME Construction News

The Big Project Middle East (BPME) editorial team has revealed that the first round of eliminations for the 2026 edition of the Digital Construction Awards (DC Awards) has been completed. Following the completion of this part of the judging process, the editorial team is announcing a partial shortlist of the companies, individuals and projects that will be recognised at the awards gala next week.

The full shortlist, honourable achievement recipients and winners in each category will only be revealed on the night of the DC Awards on 24 June at the Ritz Carlton JBR, Dubai, the BPME editorial team confirmed.

Nearly 100 nominations were submitted to the awards programme’s 21 categories when nominations closed. Following the close of nominations, the editorial team initiated the judging process which comprised 2-rounds of eliminations. The first round of eliminations was conducted by the BPME editorial team, following which nominations were then sent to an independent panel of judges for study.

Shortlisted companies and winners participating in categories including 3D Printing Specialist of the Year; Construction Hardware of the Year; Data Driven Decision Making Champion of the Year; Digital Twin Project of the Year; Sustainable Technology Champion of the Year, and Technology SME of the Year will be announced at the awards gala next week, the BPME team said.

The BPME team also said that certain categories have been split and expanded in a bid to better compare like-for-like nominations, which will be reflected on the night of the awards gala.

The partial shortlist is as follows:

Young Technology Champion of the Year

• Maha Alharbi – Saudi Binladin Group – Contracting
• Seoyoung Kim – AECOM

BIM Specialist of the Year

• Ahmad Elgammal – Khansaheb Civil Engineering
• Ahmad Sharjeel – Al Khoory Solutions
• Angel Balilo – XD House
• David Awad – Innovo Group
• Gareth Ponmoon – Dewan Architects + Engineers
• Kaustubh Pandey – BNW Developments
• Mohab Magdy Abudiba – SBG Contracting
• Rakes Pandey – AECOM
• Sherif Mamdouh – Parsons

Digital Team of the Year

• Dewan Architects + Engineers
• Innovo’s Digital Innovation Team
• JT+Partners Digital Team
• KEO’s Digital Thread
• Khansaheb Civil Engineering – Central Digital Construction Team
• Trimble Engineering & Technical Teams

Digital Visionary of the Year

• Ahmed Gadelhak – Saudi Binladin Group – Contracting
• Douglas Zuzic – Innovo Group
• Marwan Abuebeid – Turner Construction International
• Ihab Ramlawi – DuPod
• Kaustubh Pandey – BNW Developments

Excellence in Collaboration and Productivity

• BNW Developments
• Trimble Middle East
• XD House / XDHouse.AI

Digital Construction Innovator of the Year

• Sobha Modular
• XD House

Digital Consultant of the Year

• AECOM
• AESG
• CEMEX
• DAS by KEO
• Excellence Consortium
• HKR Architects
• JT+Partners
• tangramGULF
• XD House

Digital Contractor of the Year

• Engineering Contracting Company
• HTS Interiors
• Innovo Group
• Khansaheb Civil Engineering
• Saudi Binladin Group – Contracting

Construction Software of the Year

• OpenSpace
• RIB Software
• Trimble Middle East

AI Champion of the Year

• AESG
• Global Construction Solution

Modular Construction Champion of the Year

• HKR Architects
• Sobha Modular

Digital Construction Project of the Year – Building

• DEC Expansion Phase One – Khansaheb Civil Engineering
• Ghaf Woods – Innovo Group
• Radisson Blu, RAK Central – BNW Developments
• Seagate – Engineering Contracting Company
• SEVEN-Program 3 Eastern Province – Dammam & Al Khobar – Saudi Binladin Group – Contracting

The 2026 Digital Construction Awards are sponsored by:

Silver Sponsors: AECOM & RIB

To learn more about the Digital Construction Awards, click here.

Source: ME Construction News

First Avenue for Real Estate Development Company has announced it has signed an agreement with SNB Capital, Dar Al Majed Real Estate Company (Almajdiah) and Rekaz Real Estate Company to establish an investment fund focused on the education sector in Saudi Arabia.

The proposed fund will seek to acquire and develop educational facilities across the Kingdom as the company expands into education-related real estate assets as part of its strategy to diversify its portfolio and income streams, said First Avenue in its filing to Saudi bourse Tadawul.

The move is aimed at enhancing long-term investment returns through operational assets that generate recurring income, while reducing market risks through greater diversification.

These educational assets are increasingly being integrated into mixed-use developments globally due to their role in improving quality of life, supporting residential communities and creating sustainable value for real estate projects, First Avenue’s filing said.

Under the agreement, the parties will explore investment and development opportunities in the education sector, including potential partnerships with local and international education operators.

The MoU is valid for 1-year from the date of signing and does not currently impose any direct financial obligations on the parties, it added.

Source: ME Construction News

Saint-Gobain has inaugurated its new construction chemicals manufacturing unit in Ras Al Khaimah, reinforcing its long-term commitment to the UAE market, and expanding its regional product range offer along with production capabilities.

The inauguration ceremony was attended by Saint-Gobain’s senior leadership, including Eastern Mediterranean and Middle-East CEO Antoine Ghazal and Gulf Countries CEO Emmanuel Jacquot, alongside Consul General of France in Dubai and the Northern Emirates His Excellency Jean-Christophe Paris, Ras Al Khaimah Economic Zone (RAKEZ) Chief Experience Officer Ian Hunt, and key stakeholders from the construction sector.

Located in RAKEZ’s Al Ghail Industrial Zone and developed across 15,000sqm, the facility has been operational since the second quarter of 2025, manufacturing a comprehensive range of mortar solutions, including premixed plasters, tile adhesives and grouts, screeds, and more. With a monthly production capacity more than 10,000t, the plant serves customers across the UAE, while laying the foundation for further expansion through additional production lines and increased storage capacity, said a statement.

Jacquot said, “As the world-wide leader in light and sustainable construction, we are completing our industrial set-up with our new plant of Construction Chemicals in Ras Al Khaimah. This new facility reflects our trust in the UAE’s long-term vision. Through this investment, we reaffirm our commitment to the UAE, strengthening local manufacturing, enhancing service capabilities, customer intimacy and contributing to the country’s industrial ambition.”

Commenting on why the company chose Ras Al Khaimah, he added, “Our decision to establish operations in Ras Al Khaimah was driven by its strategic location, enabling greater customer proximity and faster, more responsive service to the Northern Emirates construction sites. This complements our existing large-scale manufacturing hubs in Abu Dhabi and Dubai, allowing Saint-Gobain to expand our reach and deliver more efficiently across the UAE. Ras Al Khaimah, and RAKEZ in particular, provided the right environment for this expansion – with strong industrial infrastructure, ease of doing business, and seamless establishment support. This has enabled us to develop a facility that aligns with our production and supply chain requirements while bringing us closer to our customers.”

RAKEZ Group CEO Ramy Jallad explained, “Saint-Gobain’s new set-up marks another significant milestone for Ras Al Khaimah’s industrial sector and reflects the steady momentum the emirate continues to see in construction-related industries. Manufacturers today are looking for environments where they can scale efficiently, operate with confidence, and stay closely connected to their markets. At RAKEZ, we continue to strengthen the infrastructure, services, and industrial environment needed to support that growth journey over the long term.”

The facility reflects the company’s continued investment in strengthening its regional manufacturing and supply chain capabilities and expanding its product range offer. With growing demand across the UAE’s construction sector, and notably for hospitality, non-residential buildings and infrastructures, the new plant enhances the company’s ability to serve key markets more efficiently while supporting future expansion plans from its Ras Al Khaimah base, the company said.

Source: ME Construction News

Hellmann Worldwide Logistics and INDU Group have laid the foundation for a new automotive logistics hub in Jafza. This development solidifies Jafza’s position as a gateway for regional and global trade, said a statement.

The facility aims to expedite and enhance the distribution of spare parts across the GCC, Africa, and beyond. As the demand for resilient automotive supply chains continues to rise, this hub will play a pivotal role in meeting these growing needs.

It will feature high-density bin storage, pallet racking, and specialised handling areas designed to accommodate oversized and bulky components. With a total area of nearly 300,000sqft, the site offers scalable infrastructure to support efficient and high-volume distribution operations, it said.

Lee I’Ons, Regional CEO IMEA, Hellmann Worldwide Logistics said, “The UAE is a strategically important market within our global network. By establishing this dedicated automotive hub in Jafza, we are systematically expanding our regional capabilities and creating further scalable, industry-focused infrastructure. This enables us to deliver competitive, high-performance logistics solutions for our customers and to support their long-term growth.”

Abdulla Al Hashmi, Global Chief Operating Officer, Parks and Economic Zones, DP World added, “Hellmann’s investment in Jafza reflects the rapid pace at which the automotive industry is growing in the Middle East, with customers looking for faster, more reliable access to critical spare parts across multiple markets.”

Developed by INDU Logistics, a subsidiary of INDU Group, this facility will serve as a dedicated automotive hub within Hellmann’s Middle East network. Jafza itself is home to ecosystem of automotive, logistics, and trading companies, supported by direct access to Jebel Ali Port and multimodal connectivity, the statement noted.

The development reflects the increasing demand for specialised automotive logistics infrastructure, as supply chains become more intricate and time-sensitive. Jafza remains a player in facilitating efficient trade flows between Europe, Asia, and Africa through its integrated infrastructure and multimodal connectivity, it concluded.

Source: ME Construction News

Innovo Group has announced the successful completion and final handover of Six Senses Residences, Palm Jumeirah. Developed by Select Group, the sold-out ultra-luxury development reinforces Innovo’s strategic capability to execute the region’s most architecturally distinctive and engineering-intensive projects, said a statement from the contractor.

The successful delivery of this project comes at a time when Dubai continues to consolidate its position as a premier destination for global wealth and investment. The fact that the entire development sold out well ahead of completion serves as a powerful indicator of robust international confidence in the UAE’s real estate sector, directly supporting the Dubai Economic Agenda (D33) objective to establish the emirate as one of the top 3 global cities, it added.

To deliver on this national ambition, Innovo said that it executed a masterclass in complex project delivery. The development is said to seamlessly integrates a diverse array of ultra-luxury assets: 2 sky villa buildings offering 32 keys, 9 signature private villas situated directly on the Palm Jumeirah beachfront, 2 penthouse buildings comprising 131 apartments, and a dedicated hotel building featuring 66 guest rooms.

The integration of these varied components required highly advanced structural solutions. In a major logistical and engineering feat, Innovo successfully connected the entire multi-structure development through a massive single basement. This foundational infrastructure acts as the unseen engine of the property, unifying the residential and hotel buildings, while navigating the complexities of extensive, multi-level water features and integrated premium amenities, including a state-of-the-art SPA, gym facilities, and world-class dining venues, the statement noted.

Aligning with the UAE’s Net Zero by 2050 strategic initiative, delivering world-class luxury at the Six Senses, Palm Jumeirah also meant advancing the sustainability of the built environment. Designed in strict alignment with LEED green building certification requirements, Innovo integrated highly energy-efficient systems, optimised water consumption frameworks, and carefully selected sustainable materials to dramatically reduce the development’s long-term environmental footprint, it added.

The contractor said this commitment to sustainability extended into the construction phase itself. Acting as a testbed for cleaner construction methodologies, Innovo implemented advanced energy solutions on-site, including the pioneering use of large-scale battery systems as an alternative to conventional diesel generator power. This innovative approach significantly reduced carbon emissions, minimised noise pollution in a sensitive residential area, and enhanced overall energy efficiency during the build, it added.

Sameh Fam, CEO of Innovo Build said, “Projects like Six Senses, Palm Jumeirah demonstrate what can be achieved when engineering expertise, innovation, and disciplined execution come together. We are proud to have delivered a landmark development that sets a new benchmark for luxury construction in the region.”

Israr Liaqat, CEO of Select Group added, “The handover of Six Senses Residences, The Palm is a landmark moment for Select Group. From the outset, our ambition was to deliver a development that would set a new benchmark for ultra-luxury branded living in this region and the sell-out of the project ahead of completion confirms that the market recognised exactly what we were building. Partnering with Innovo gave us the confidence that a development of this architectural complexity would be delivered without compromise.”

The completion of the Six Senses Palm, Jumeirah further accelerates Innovo’s momentum as the partner of choice for developers seeking to turn the most ambitious architectural concepts into operational reality, solidifying its role in shaping the UAE’s luxury and sustainable development landscape, the statement concluded.

Source: ME Construction News

Umm Al Qura has announced the unveiling of Masar Gardens, a mixed-use urban destination in Makkah featuring residential, commercial, hospitality, and public-use components backed by extensive infrastructure, green spaces, pedestrian pathways and modern mobility solutions over a 1.2m sqm area.

With an initial infrastructure and land investment of US $1.6bn, the project is designed to contribute to Makkah’s long-term urban development objectives, while enhancing quality of life and strengthening the city’s attractiveness as an investment destination.

Set to be developed over a 5-year period, Masar Garden comes as part of Umm Al Qura’s new growth strategy aimed at boosting its transformation from a single-destination developer into a diversified urban destination and investment platform across the kingdom’s Western Region.

The new strategy targets expanding Umm Al Qura’s development portfolio beyond its flagship Masar Destination, with future projects planned across Makkah, Jeddah, and Madinah, said a top official.

The company aims to create a diversified portfolio of urban destinations valued at more than US $13.2bn, while attracting new investment opportunities and strategic partnerships, remarked its CEO Yasser Abuateek.

“Umm Al Qura is leveraging its proven development expertise and institutional capabilities to deliver long-term value for investors, communities, and the wider economy,” it stated.

The announcement reflects the company’s broader vision of developing scalable urban destinations that support Saudi Arabia’s economic diversification ambitions and create sustainable growth opportunities for local and international investors, he added.

Source: ME Construction News

The Royal Commission for Riyadh City (RCRC) has commenced work on the Othman Bin Affan Road and King Salman Road development project, which aims to improve traffic flow and enhance the overall mobility experience across the Saudi capital.

Spanning 4.3km, the project includes the construction of 7 new bridges alongside upgrades to existing road lanes. These enhancements will increase the capacity of the corridor to accommodate approximately 500,000 vehicles per day, further strengthening connectivity between key routes in northern Riyadh, RCRC said.

The scope of work involves upgrading major intersections at King Salman Road and Anas bin Malik Road through an integrated network of bridges ranging from 2 to 4 lanes. This will significantly enhance connectivity between the northern and southern sections of King Salman Road, reduce travel times, and improve overall traffic efficiency within the area.

The RCRC has also introduced a temporary traffic diversion on the northern segment of the road as part of a broader traffic management plan carried out in coordination with the relevant authorities to maintain safe and smooth traffic flow during the construction period.

Executed in 2 phases, the diversion plan maintains 3 main lanes in each direction. It also includes comprehensive directional and warning signage, real-time updates across navigation platforms, and the launch of a dedicated webpage to provide continuous updates on project progress.

Source: ME Construction News