http://www.hgcoc.com Holland Gulf Chamber of Commerce is een organisatie gericht op het stimuleren van handel tussen Nederland en de Golfregio. Wij helpen bedrijven die zaken willen doen in de Golfregio aan de juiste ingangen bij de belangrijkste beslissingsmakers. Thu, 22 May 2014 10:31:03 +0000 en-US hourly 1 https://wordpress.org/?v=3.9.40 http://www.hgcoc.com/blog/2013/10/07/kingdom-implements-mega-projects-worth-sar288bn/ http://www.hgcoc.com/blog/2013/10/07/kingdom-implements-mega-projects-worth-sar288bn/#comments Mon, 07 Oct 2013 10:24:09 +0000 http://www.hgcoc.com/?p=1464 Saudi Arabia is implementing mega infrastructure projects, including roads, bridges and rail projects worth $77 billion (SR288.75 billion), local media said quoting a report.
The projects currently implemented to develop roads and bridges in the GCC countries are estimated at $109 billion (SR408.75 billion), the report released by Ventures Middle East said.
Saudi Arabia captured the five biggest construction projects (contracts) in the Middle East region during August 2013.
The Saudi Electricity Company (SEC) recently awarded a $3.3 billion contract to South Korea’s Hyundai Heavy Industries to build Shaqiq power plant at the capacity of 2,640 megawatt (MW), located 580 km south of Jeddah, the report added.
Last month, the Ministry of Housing approved eight contracts worth $1 billion (SR375 billion) for the construction of housing projects in a number of cities, including Madinah, Jeddah, Dammam, Qatif, and Kharj, the report said.
Likewise, the Higher Commission for Riyadh Development (HCRD) also signed contracts valued at more than $22 billion for a Riyadh metro project, which is the biggest in the region. Contractors plan to build a 176 km long metro line in a five-year period, it said.
Plans are under way to build new petrochemical projects with their values touching $70 billion. Saudi Arabian Oil Company (Saudi Aramco), Saudi Basic Industries Corporation (SABIC) and Farabi Petrochemical Company (Farabi) will lead investments in these projects, the report said quoting petrochemical sources.
The petrochemical projects will be constructed near the oil refineries to get their required feedstock. They will be located in Jazan, Yanbu and Ras Tanura, the report said.
The Kingdom also recently kicked off major industrial and petrochemical projects in Jubail and Yanbu industrial cities with costs reaching SR327 billion.
The projects are supposed to raise the Kingdom’s share to global petrochemical market to more than 12 percent and its petrochemical products to nearly 100 million tons annually, the report said.

]]> http://www.hgcoc.com/blog/2013/10/07/kingdom-implements-mega-projects-worth-sar288bn/feed/ 0 http://www.hgcoc.com/blog/2013/09/17/sbg-to-build-damac-luxury-housing-project-in-riyadh/ http://www.hgcoc.com/blog/2013/09/17/sbg-to-build-damac-luxury-housing-project-in-riyadh/#comments Tue, 17 Sep 2013 07:53:35 +0000 http://www.hgcoc.com/?p=1423 JEDDAH – Dubai real estate developer Damac Properties has handedSaudi Binladin Group ( SBG ) a SR353 million ($96 million) to construct a luxury housing project located on King Fahad Road, Riyadh.
The work will be completed by Binladin subsidiary Haramain Gate for Construction, the main construction contract for Damac’s Esclusiva Luxury Serviced Apartments.
The 150m tower will include 100 luxury apartments and features interiors designed by Italian fashion house Fendi Casa.
Saudi Binladin Group is considered the world’s largest construction company and recently signed a $1.23 billion deal to build Kingdom Tower, which will be the world’s tallest building when complete.
“Damac Properties is thrilled to be working with Biladin group on the construction of Damac Esclusiva which will take the standards of luxury home living in the Middle East to a new level,” said Niall McLoughlin, senior vice president, Damac Properties.
“Together we can bring an experience to the market which the region is yet to see. It is a perfect synergy between two visionary companies looking to reach the pinnacle of luxury living,” he added.
Damac, one of the property developers worst hit by Dubai’s financial crisis of 2008-2009 when a number of its projects stalled or cancelled, has launched several new developments this year on a back of a resurgence in the emirate’s housing market.
Earlier this year it announced its Akoya by Damac development, which will include a gold course designed by flamboyant US business magnate Donald Trump.
The residences will each have views of the golf course, the first in Asia by Trump’s Trump International. Akoya by Damac is the company’s largest development to date, spanning 28 million square feet off Umm Sequim Road.
It will also include a spa, boutique hotels and international schools from kindergarten to secondary, as well as globally-recognized retail brands, leisure and entertainment offerings and a sports complex.
The land has already been bought from Dubailand, but no timeline for construction has been announced.
Damac, regarded as the largest luxury developer in the Middle East, is also building two mixed-use developments in partnership with movie producer Paramount.

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