Abu Dhabi-based Modon Holding and Egypt’s Elsewedy Industrial Development will collaborate to build and operate a new industrial zone servicing the Ras El Hekma city megaproject in Egypt. The two companies signed a letter of intent (LOI), signifying their commitment to the project.

The joint venture between Modon and Elsewedy Industrial Development – the latter being one of Egypt’s leading integrated industrial and logistics cities developers – is the latest in a series of partnerships established to drive the megaproject forward and reaffirms Modon’s commitment to collaborate with Egyptian companies in delivering Ras El Hekma, said a statement from Modon.

The 10m sqm new industrial zone will initially focus on attracting investors and manufacturers for building materials for the wider project – ensuring timely, cost-effective construction while introducing advanced, sustainable materials.

The project is located south of the Alexandria-Matrouh Highway and opposite the Ras El Hekma site being developed by Modon. With strong connectivity to major roads, airports, and the high-speed rail network, the zone will enhance and localise supply chains as the development progresses, the statement explained.

Modon and Elsewedy said they are now actively securing anchor partners and industrial investors, prioritising leading Egyptian companies in key segments to drive industrial growth and create synergies with international investors. The first batch of companies to sign memorandums of understanding (MoUs) with Modon Holding to supply the offtake of building construction and other materials for the project, as well as exploring opportunities to develop factories or industrial lines at the proposed industrial zone, includes:

• Elsewedy Electric, an Egyptian and international electric products provider and builder of power and water solutions
• 3S Ready Mix Concrete, part of Hassan Allam Group and one of the largest ready mix concrete suppliers in Egypt
• RAK Ceramics, one of the largest ceramic brands in the world and a UAE-born company
• Hitech Concrete, subsidiary of Trojan Construction Group, one of the leading concrete products providers in the UAE

Commenting on the partnership, His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding said, “Our collaboration with Elsewedy Industrial Development marks a significant step in realising our vision for Ras El Hekma. In joining forces with one of Egypt’s leading industrial businesses, Modon also demonstrates our commitment to collaborate with Egyptian and international companies in delivering this ambitious and transformative project.”

Bill O’Regan, Group CEO of Modon Holding added, “This new collaboration consolidates our already robust network of international partnerships. The agreement with Elsewedy Industrial Development will bring deep local expertise to delivering the Ras El Hekma masterplan, and helps ensure we create a destination that surpasses the expectations of future residents while adding tangible value to local communities.”

The long-term vision for the industrial zone extends beyond the construction phase, aiming to establish a sustainable industrial base that drives year-round economic activity, job creation, and significantly contribute to Egypt’s GDP. This strategic infrastructure will further strengthen Egypt’s position as a leading trade and manufacturing hub. By diversifying into new sectors, the zone will support regional projects along Egypt’s North Coast while expanding into key export markets such as Libya and Europe.

Additionally, this expansion will position Ras El Hekma as a hub for industrial innovation, aligning with its vision to become a thriving, globally competitive city. Over the next decade, the zone is projected to generate more than 20,000 new jobs, reinforcing its role as a catalyst for economic growth, the statement explained.

Eng. Mohamed AlKammah, CEO of Elsewedy Industrial Development commented, “We are excited to be working on this strategic project, which marks an important step toward expanding our efforts in developing integrated industrial communities. Ras El Hekma Industrial Zone will be a model for smart industrial cities — not only in terms of infrastructure but also in its ability to attract strategic industries in building materials and construction, while supporting the local economy through job opportunities and value-added productive ventures.”

Spanning 170.8m sqm, Ras El Hekma will be a fully functional, smart, sustainable, and inclusive urban community, and home to up to two million people following completion. ADQ appointed Modon as master developer for Ras El Hekma in 2024, with the planned city representing a key element of Modon’s international growth strategy and significantly increasing its land under development outside the UAE.

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Source: ME Construction News

Developer Azizi Developments said that construction of its Azizi Vista residential project in Dubai Studio City is now 86% complete.

Sharing a detailed report on progress, the developer said overall finishes are 85% complete. Structural work, blockwork, and internal plaster have all been finalised, while tiling has reached 96%. HVAC and MEP installations stand at 95% and 87%, respectively. Progress on external works, the swimming pool, elevators, and façade has reached 47%, 79%, 90%, and 89%. The current workforce on-site consists of 397 personnel to guarantee continued momentum.

The development is scheduled to be delivered in Q3 2025 and will feature studio, one-, and two-bedroom apartments, the developer said in its statement.

“We are pleased with the remarkable progress at Azizi Vista in Dubai Studio City, which reflects our steadfast commitment to timely delivery and exceptional construction standards. By leveraging advanced building methods and working closely with our trusted contractors, suppliers, and partners, we are ensuring that this thoughtfully designed development takes shape as envisioned,” said Farhad Azizi, Group CEO of the Azizi group of companies.

Dubai Studio City is one of the fastest-growing business hubs for film and television production and a trendy hotspot for creative professionals, the developer pointed out.

The project is said to be designed for young, in-vogue adults and families. Vista, the epitome of a modern luxury low-rise residential building, is nestled in one of Dubai’s most dynamic and youthful areas, adjacent to Sports City and Motor City – just a short drive from the Expo site, and with it being situated on Hessa Street and near Sheikh Mohammed Bin Zayed Road, Dubai Studio City is a strategic location with excellent accessibility, as per the statement.

Residents will benefit from a wide range of nearby amenities, including schools and colleges, medical facilities, sports and leisure attractions, and much more. Major attractions in proximity include Dubai Autodrome, the Els Club, Dubai Polo & Equestrian Club, Dubai International Stadium, Football Academy Dubai, Sports Park, ICC Academy, Miracle Garden, and IMG Parks & Resorts, among many others, the statement concluded.

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Source: ME Construction News

Dubai’s real estate market has continued its strong start to 2025, with property sales in February totalling US $13.9bn, a 39.91% increase in value on the same month last year, according to a market update by fäm Properties. The report reveals that last month’s total of 16,099 transactions also represented a 35.5% increase in volume over February 2024, making it one of the best ever months on record.

Data from DXBinteract shows that villa sales totalling $5.1bn climbed by 99.7% to 3,679 compared with February last year, while plot sales worth $2.6bn also soared in volume by 74.7% to 608. Apartment sales worth $5.8bn climbed 21.3% in volume to 11,364, while a total of 447 commercial property transactions amounting to $327mn represented a 40.1% increase in volume over February 2024. The average price per sqft was up by 3.4% to $423, the report said.

“The data once again highlights the robust nature of Dubai’s real estate market and the steady growth it has experienced over the past few years,” said Firas Al Msaddi, CEO of fäm Properties. “This reinforces Dubai’s position as a safe and reliable hub for real estate investment, further boosting investor trust and attracting attention from local, regional, and global markets.”

Dubai property sales for the month of February have now risen by 449% in value over the last five years – from $2.53bn (4,100 transactions) in 2020, $1.99bn (3,700) in 2021, $4.19bn (6,200) in 2022, $7.38bn (9,400) in 2023, and $9.94bn (11,900) last year.

The most expensive individual property sold in February was a luxury villa at Hadaeq Sheikh Mohammed Bin Rashid which fetched $38.1mn. The most expensive apartment sold during the month went for $31.5mn at The Rings – 1 at Jumeirah Second.

Overall, first sales from developers were significantly greater than those of resales – 66% over 34% in terms of volume, and 62% against 38% in overall value. With properties worth more than $1.36mn accounting for 9% of total sales, 31% came in the $272,200 – 544,400 range, 25% below $272,200, 19% between $544,400 – 816,600 and 15% between $816,600 – 1.36mn.

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Source: ME Construction News

The Big Project Middle East (BPME) editorial team has confirmed that its inaugural Future of Engineering Summit (FOE Summit) will take place in Dubai on 28 May. A venue is yet to be confirmed, however the editorial team pointed out that an announcement on the location will be forthcoming post-Eid.

The BPME team said that conversations have begun with a variety of developers, consultants, contractors and government agencies, and speakers will be announced in the build up to the event. Registration is complementary but mandatory for construction professionals.

The one-day event will bring focus on several key themes including: the development and engineering of floating cities/settlements; façade- and structural-engineering, and rehabilitating concrete structures.

As part of the focus on façade- and structural-engineering, the BPME team said the agenda will delve into areas such as acoustic intrusion and extrusion; managing heat absorption and heat loss; resisting environmental influences and extreme weather; the rise of AI driven tools to enhance structural integrity; seismic resilience and load optimisation and much more.

“Key hubs across the Middle East are developing at pace and are announcing projects the push the boundaries of construction and engineering. Bringing these developments to life in line with client- and government-requirements calls for innovative thinking and cutting edge engineering practices, and we’ll be shining a light on a variety of these issues with a packed agenda in late May 2025,” confirmed Jason Saundalkar, Head of Content at Big Project Middle East.

The Future of Engineering Summit is being sponsored by:

Strategic Partner: ALEC Engineering & Contracting, KEO International Consultants

To discuss joining the FOE Summit as a speaker, get in touch with Jason Saundalkar on jason.s@cpitrademedia or Priyanka Rain on priyanka.raina@cpitrademedia.com. For sponsorship inquiries, reach out to Raz Islam or Arif Bari on raz.islam@cpitrademedia.com and arif.bari@cpitrademedia.com respectively.

To learn more about the FOE Summit, click here.

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Source: ME Construction News

Microsoft has reaffirmed its commitment to its ambitious US $3.3bn development project in Mount Pleasant, Wisconsin, despite a recent recess in the construction timeline. The firm said that it still intends to meet its goal of completing the investment by 2026; plans were first unveiled for the project in May 2024.

The site, originally occupied by Taiwanese electronics manufacturer Foxconn, has been transformed into a major development hub. Microsoft said it was granted permission to develop up to 1,000ac of land at the site, and the company owns approximately 1,900ac in total in the area. The project’s construction kicked off shortly after the announcement, with US-based Walsch Construction serving as the general contractor.

Despite the temporary pause in activity, Microsoft remains optimistic about the long-term prospects of the site, which is expected to play a pivotal role in the company’s growing infrastructure. The development is poised to create thousands of jobs and is expected to significantly boost the local economy, contributing to the expansion of both the tech industry and the surrounding community.

The project’s long-term impact remains a point of interest, as it could serve as a key player in the evolution of the region’s tech landscape. With Microsoft’s continued investment in the area, the Mount Pleasant site is set to become a cornerstone of the company’s broader efforts to build a cutting-edge infrastructure to support its global operations, said a report.

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Source: ME Construction News

Azizi Developments has said that 80% of the released units at Azizi Ruby in Jumeirah Village Circle (JVC) have been sold-out. The project offers studio, one-, two- and three-bedroom homes complemented by amenities such as a clubhouse, cinema, swimming pools, a gym, and children’s play areas.

Of the 20 nationalities that have acquired units, Emiratis are said to account for the the largest demographic share at 9%. Investors from Western and European countries such as the United Kingdom, United States, Italy, and Portugal comprise 29%, while those from South Asian nations, notably India and Pakistan, make up 27%. Buyers from the GCC and MENA region, including the Kingdom of Saudi Arabia, Egypt, and Lebanon, represent 15%, reflecting Azizi Ruby’s regional and international investors, said the statement.

Farhad Azizi, Group CEO of the Azizi group of companies said, “We are pleased with Azizi Ruby’s strong uptake, with 80% of the released units having sold so swiftly, within just months of its launch. This reflects the growing demand for ideally situated, thoughtfully designed homes and the trust our investors and end users continue to place in us. Ruby exemplifies our commitment to creating integrated, lifestyle-oriented communities in key growth corridors, such as Jumeirah Village Circle. We now look forward to completing the construction in a timely and quality-prioritising manner.”

Azizi Ruby, a contemporary, nature-inspired residential tower in  JVC, was designed to balance tranquility with modern convenience. It offers connectivity to Dubai’s business, entertainment, and retail hubs, all while being surrounded by greenery and over 30 landscaped parks. Benefiting from its proximity to highways, and easy access to destinations like Dubai Marina, Internet City, and Media City, Azizi Ruby offers urban comforts, convenience, and nature, the statement concluded.

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Source: ME Construction News

Corinthia Group, trading as IHI plc, announced its recently formed partnership with Action Real Estate Company of Kuwait has acquired two boutique hotel properties totalling 100 keys in Beverly Hills, California. The acquisition of the neighbouring Maison and Mosaic Hotels by the Action Corinthia joint venture, in which IHI plc owns a minority stake, is part of a broader strategy for the Beverly Hills market.

The Corinthia Group’s primary focus is on high-end real estate projects and operations. Last December, the group announced a strategic partnership with Kuwaiti-based Action Real Estate Company to explore investment opportunities in luxury hotels and real estate at prime locations across the Americas and beyond.

Simon Naudi, Corinthia Group CEO said, “This is an important step forward for Corinthia. Beverly Hills is one of the world’s foremost hospitality destinations and we are determined to add value and create luxury products and services to the benefit of the local community and our Corinthia brand’s global positioning.”

Action Real Estate Company Chairman Sheikh Mubarak A. M. Al Sabah said, “We are thrilled to announce our entry into the prestigious Beverly Hills market, marking a significant milestone in our strategic partnership with Corinthia. As a company with a strong track record in global real estate and hospitality investments, this transaction represents an exciting new chapter for us. With decades of experience in markets around the world, including Europe, the Middle East, and Asia Pacific, we are now expanding into the United States, which remains a key market for future growth and innovation.”

The hotels will be operated in the immediate term by a specialist Los Angeles operator Palisociety under current branding arrangements, under the supervision of Corinthia’s development arm Corinthia Real Estate Ventures (C-REV) and its Managing Partners Marcus Pisani and Alex Chazkel. C-REV will also handle asset management and explore opportunities for future value creation.

Corinthia marked its entrance into North America as a hotel operator with the opening of The Surrey, A Corinthia Hotel in New York, which has been transformed into a signature property featuring 100 guestrooms and suites and 14 private residences, bringing a new design and luxury experience to the Upper East Side of Manhattan.

The group said it also recently completed the redevelopment of Brussels’ historic Grand Hotel Astoria, following a rebuild and restoration of the landmark property and announced plans to operate a landmark 102-storey hotel and residential project under development in Dubai.

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Source: ME Construction News

Tanmiah Food Company has announced a partnership with Emerge, a distributed solar, battery storage, off-grid solar and hybrid solutions for commercial and industrial clients, a joint venture between Masdar and the EDF Group.

As part of this collaboration, Emerge will develop a three megawatt-peak (MWp) solar power plant at Tanmiah’s facility in Haradh, reinforcing its commitment to sustainability and supporting the Kingdom’s clean energy objectives. The agreement was signed at the Ministry of Environment, Water, and Agriculture by Zulfiqar Hamadani, Group CEO of Tanmiah Food Company, and Michel Abi Saab, General Manager of Emerge, a statement outlined.

Under the agreement, Emerge will provide a full turnkey solution for Tanmiah, including finance, design, procurement, construction, operations, and maintenance of the installation for 25 years. The solar power plant will provide 35% of the electricity required to run the agriculture processing facility, avoiding more than 3,850t of CO₂ annually. This is equivalent to more than 800 households’ electricity usage for a year, the firm explained.

Zulfiqar Hamadani, Group CEO Tanmiah commented, “At Tanmiah, sustainability is at the heart of our business strategy. The signing of this project with Emerge marks a significant milestone in our journey towards a more sustainable future. By investing in renewable energy, we are not only reducing our carbon footprint but also taking a crucial step toward our broader sustainability ambitions. By scaling these successes, we’re redefining what’s possible and inspiring meaningful change across the company and the sector aligned with Vision 2030 targets related to renewable energy.”

Michel Abi Saab, Emerge General Manager added, “Saudi Arabia’s agriculture sector is on the right track to transform its energy supply. At Emerge, we are committed to supporting the ecosystem and businesses such as Tanmiah, which are ready to adopt more sustainable and environmentally friendly operations. Tanmiah’s sustainability ambitions are industry-leading and powering this production facility with solar will play a key role in achieving these objectives. We are excited to support their energy transformation through our full turnkey solution with no upfront costs. This approach facilitates smooth and easy installation for our customers in commercial and industrial industries across the region.”

Sustainability is embedded in Tanmiah’s operations, with the company’s vision to become the global halal sustainable healthy protein company by 2030. This renewable energy partnership with Emerge will support the company in making this vision a reality. The solar power agreement with Tanmiah underpins Emerge’s ambitions to help the agricultural sector adopt clean energy sources at no upfront cost. This is the second project for Emerge supporting the decarbonisation of agricultural operations in the GCC, the statement concluded.

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Source: ME Construction News

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Developer The Luxe Developers said it has experienced an increase in interest for its latest development, La Mazzoni, due to the growing global demand for real estate with health and well-being amenities.

As the UAE continues to attract ultra-high-net-worth individuals (UHNWIs), the demand for premium residential properties has also witnessed growth. Recent reports have highlighted a shift in buyer preferences towards homes that promote well-being, privacy and sustainability.

According to research from Transparency Market Research, the global wellness real estate market where developers prioritise lifestyle, health, and environmental sustainability stood at US $438.3bn in 2023 and is expected to grow at annual growth rate (CAGR) of 14.8% between 2024 and 2034, and will quadruple in size to $2tn by 2034. The growth highlights the shift in consumer preferences toward living and working environments that are focused on health, well-being and sustainability.

Shubam Aggarwal, Chairman and Co-owner of The Luxe Developers commented, “La Mazzoni offers a compelling proposition: a state-of-the-art luxury residence incorporating a modern design and holistic lifestyle. We have seen a shift in demand from investors who are increasingly looking for a more balanced lifestyle, with wellness-integrated residences now becoming a prerequisite for many. La Mazzoni was designed in direct response to this. By aligning a luxury living experience with well-being, we offer our clients a value proposition beyond traditional real estate investments.”

Taking inspiration from Ras Al Khaimah, themes relating to nature, sand, sea, and the mountainous landscape will be recognisable from the property’s exterior. Features at La Mazzoni will include wellness facilities, health programs, and biophilic designs. An indoor play area for children, outdoor and adventure park will also be provided.

Siddharta Banerji, Managing Director and Co-owner added, “The Luxe Developers has always been at the forefront of anticipating market trends and addressing the evolving needs of niche investors seeking a work-life balance. La Mazzoni reflects this philosophy by integrating health-focused amenities, sustainability, and exclusivity into its design. It is a prime example of how we aim to deliver long-term value for residents and investors. As the luxury real estate market evolves, developments that combine wellness, sustainability, and exclusivity are becoming increasingly valuable. La Mazzoni exemplifies this trend, offering a unique opportunity for investors seeking premium real estate in one of the UAE’s most dynamic regions.”

Residents will have access to indoor and outdoor gym, yoga studios, walking and jogging tracks, paddle courts, rooftop infinity pools, spa equipped with saunas, hammams, and therapy rooms. In addition to outdoor exercise facilities the development will also include water oases.

La Mazzoni will incorporate co-working spaces within the open-air outdoor areas, designed to inspire creativity and productivity. Two dedicated lounges, Sky Lounge and Connoisseur’s Corner, will provide additional meeting and working areas within the two-tower development, a library to undertake work in a quiet environment, the developer explained.

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Source: ME Construction News

China’s Ministry of Industry and Information Technology (MIIT), announced its 2024 Green Manufacturing List, with two of Hitachi Energy’s local manufacturing bases in Beijing and Datong in north China’s Shanxi Province, receiving the titles of National Green Factory. This brings Hitachi Energy’s local enterprises on the list to four.

MIIT organised National Green Factory to help improve China’s clean manufacturing system and promote sustainable industrial development. By 2024, there were over 6,400 national green factories in China. Green factories must feature intensive efficiency, clean production, waste utilisation, and low-carbon energy use as a fundamental part of the green manufacturing system.

“Hitachi Energy places sustainability at the heart of its purpose and is committed to working with customers and partners to advance the energy transition. The National Green Factory certification is a high recognition of our efforts in fulfilling social and environmental responsibilities in China,” said James Zhao, Executive Vice President and Region Head of Greater China, Hitachi Energy. “We will continue to accelerate the upgrade of our business in China, supporting China’s high-quality manufacturing and the realization of its carbon goals.”

The two new companies, Hitachi Energy Power System and Hitachi Energy Datong Traction Transformers, selected as green factories have integrated green development principles into every aspect of their productions and operations. In addition, in line with Hitachi Energy’s efforts to achieve carbon neutrality within its operations by 2030, both factories commit to sourcing 100% of their purchased electricity from fossil-free sources.

Hitachi Energy Power System which recently celebrated the 70-years anniversary of HVDC-technology, is Hitachi Energy’s local manufacturing operations for China’s HVDC business. Following its long-term clean development plan, the Beijing facility has achieved significant energy savings and emission reductions across energy management, efficiency, transport, and recycling, the firm said.

On energy management, the site has optimised its power supply and upgraded to energy-efficient appliances, lighting, and exhaust systems to reduce electricity use and carbon emissions. Fuel vehicles have been replaced with electric ones in the industrial park and installed electric vehicle (EV) charging stations to promote clean commuting among employees.

The facility has introduced rainwater harvesting, smarter irrigation, and waste packaging recycling to boost resource reuse. Since launching its energy management system in early 2024, the company has reduced energy consumption per unit of product by 15% and annual water consumption by nearly 30%. It continues to strive toward a ‘clean supply chain enterprise’, making progress in sustainable manufacturing, the company explained.

Hitachi Energy Datong Traction Transformers provides high-quality, reliable, eco-friendly traction transformers to ensure stable and efficient operations for high-speed trains and locomotives. It is the only national green factory in Datong City that was awarded this year. The base implemented an advanced energy management system and a scientific energy use plan in its green factory initiative. Key measures include adopting energy-efficient equipment like lighting, dust removal systems, and vacuum pumps, installing solar water heaters, and sourcing clean electricity to optimise energy structure. Compared to 2023, the base has cut its energy consumption per unit of product by nearly 30% and reduced office electricity use by 50%.

Datong base has ramped up R&D efforts in eco-friendly transformers, focusing on compact and lightweight traction transformer designs and using biodegradable synthetic ester oil as a cooling medium to minimize environmental impact. The base has achieved over 95% material recyclability and launched new products for energy-saving transformers.

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Source: ME Construction News