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.

Dubai Cranes and Technical Services Ltd, a subsidiary of Dubai Investments has partnered with Street Crane to leverage the growing demand and undertake more complex infrastructure projects in the region

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.