Construction work has officially begun on the first phase of the US$7 billion New Doha Port in Mesaieed, with the foundation stone being laid by Shaikh Tamim Bin Hamad Al Thani, Crown Prince of Qatar.
Orascom Construction Industries (OCI), said that its 50 per cent owned Besix Group won a US$519mn joint venture contract with Al-Muhaidib Contracting Co. in Saudi Arabia for the design and construction of the King Abdullah Sports City development near Jeddah.
A report by Citigroup revealed that the UAE accounted for 56 per cent of the total cancelled and delayed projects for the main regional markets in August.
Saudi Oger reached a deal with a group of leading banks to secure a landmark US$800mn senior term loan facility and a US$1.05 billion advance payment guarantee facility to fund the King Abdullah Project 2.
Bauer International is currently constructing a pedestrian tunnel at Nation Towers in Abu Dhabi, which, going under the existing Corniche Road, will link the shopping complex and other components to a purpose built beach club.
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