Qatari Diar property arm, Qatars sovereign wealth fund, has announced its first venture in the US with the company agreeing to finance the construction of CityCenterDC in Washington.

Construction on the US$1.6 billion Doha Festival City officially started at the beginning of this month following the appointment of the projects managers, architects and engineers.

The Saudi Saline Water Conversion Corporation (SWCC) has awarded a contract to Doosan Heavy Industries & Construction to co-build what has been touted as the worlds largest single multi-effect distillation (MED) desalination unit.

The construction industry in the Middle East and North Africa (MENA) region is forecast to spend US$4.3 trillion over the next decade, according to a new report.