ONE Development announced the start of construction on Laguna Residence, its flagship project with a total development value of over US $540mn, with ground being broken just 55 days after the launch.

Scheduled for completion and delivery in Q4 2027, Laguna Residence will be the region’s first fully AI-integrated residential community, redefining modern living with innovative, designed spaces that integrate technology and sustainability, all while prioritising the comfort and needs of residents. The development will feature twin towers connected by a podium-level lagoon and surrounded by landscapes, said a statement.

Ali Al Gebely, Founder & Chairman of ONE Development said, “We are here today celebrating breaking ground on this landmark project only 55 days after its launch. This dedication to expedience solidifies our commitments, not just to excellence in construction and design standards, but also to the community at large.”

“By integrating AI technology as a core value, we are creating a living environment that enhances daily life, offering unparalleled convenience and comfort. As we bring this vision to life, we are not only shaping a project but fostering a community that thrives in a space designed for modern living; one that supports the UAE’s ambition to lead as a global hub for innovation, sustainability, and quality of life,” he added.

Laguna Residence will offer over 40 amenities designed to promote wellness, cultivate a sense of community and social engagement and provide a diverse range of entertainment options. Units will cater for a variety of lifestyles with a broad range of contemporary studios to Skyhomes, all carefully designed to meet the aspirations of discerning residents and investors alike.

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The Sports Boulevard Foundation has signed an agreement with Riyadh Development Company, FTG Development, and Jadwa Investment Company to set up a US $930mn mixed-use private real estate development fund. The fund will help the development of the private plots within Urban Wadi, one of Sports Boulevard’s destinations.

This marks the second investment fund launched by Sports Boulevard, following the announcement of the real estate investment fund within the Promenade destination. This fund represents a unique partnership model between the public and private sectors. It is also set to attract Foreign Direct Investments, thereby enhancing Riyadh’s position as a global destination for attracting investment and urban development.

Structured as a private closed-ended fund, Sports Boulevard Development Company will be the majority unit-holder, while Riyadh Development Company and FTG Development will serve as both co-investors and developers. Jadwa Investment Company will manage the fund.

Located in one of Riyadh’s prime areas, the Urban Wadi High Rises development will have a total gross floor area (GFA) exceeding 207,000sqm, and the project will adhere to the Sports Boulevard Design Code, inspired by the principles of Salmani architecture. This landmark development underscores Sports Boulevard’s commitment to fostering world-class urban environments, while driving investment and economic growth in Riyadh.

Jayne McGivern, CEO of the Sports Boulevard Foundation said: “Establishing a real estate investment fund and the strategic partnership it entails is a significant step toward enhancing urban development. I’m delighted to welcome inward investment into Sports Boulevard. This fund reflects our unwavering commitment to the Sports Boulevard project and our vision of improving the quality of life in the city. We aim to transform Riyadh into one of the best cities in the world, contributing to regional growth and successfully achieving the overarching goals outlined in the Saudi Vision 2030.”

“Through collaboration with our partners, we will be able to provide Sports Boulevard’s Urban Wadi destination with world-class facilities that will guarantee a positive impact in all areas related to Riyadh’s community. This includes creating new job opportunities and enabling the city’s residents to adopt a lifestyle based on making healthier and more sustainable choices. I’m confident that our partnership will contribute to reshaping the general landscape in Riyadh.”

Jehad Alkadi, CEO of Riyadh Development Company commented, “We are proud to announce the establishment of a real estate investment fund as part of our strategic partnership with the Sports Boulevard Development Company. This investment will support the common goal of the Sports Boulevard Project by providing world-class facilities to the residents and visitors of Riyadh. It will also play a major role in supporting the kingdom’s efforts to achieve the goals of Saudi Vision 2030.”

Urban Wadi will be home to a low-flow water canal surrounded by lush greenery. The water canal is constantly recirculated, used in fountains, and for the natural cooling of the destination. It also includes pathways for pedestrians and cyclists, bridges, a large shading structure of 10,000sqm with shops and restaurants, play areas for kids, a kayaking zone, multiple sports courts, and event spaces.

The Sports Boulevard project extends for more than 135km on Prince Mohammed bin Salman bin Abdulaziz Road, connecting Wadi Hanifah in the West with Wadi Al Sulai in the East through a grid of safe green pathways for pedestrians, cyclists, and athletes. The project includes more than 4.4m sqm of greenery and open spaces, with 50 multidisciplinary sports facilities. In addition, there are several unique destinations and investment zones, within a total area that exceeds 3m sqm.

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MERED has appointed SERA Group as the general contractor for its ICONIC Residences project which is design by Pininfarina, and is taking shape in Dubai Internet City.

SERA Group’s portfolio includes residential developments, hotels, healthcare and educational facilities, and industrial projects. Their residential and hospitality portfolio includes projects such as Address Residences Dubai Opera and Il Primo next to the Burj Khalifa, as well as Skyview Tower and Barbaros Reserve Bodrum Residences which is managed by Kempinski.

Michael Belton, Chief Executive Officer at MERED commented, “With luxury real estate booming in Dubai, SERA Group’s proven expertise in constructing large-scale, high-quality projects makes them the perfect choice to bring our vision for ICONIC Residences design by Pininfarina to life. Their approach to precision, innovation, and attention to detail aligns seamlessly with MERED’s commitment to delivering exceptional residential experiences. Together, we aim to create a landmark that will redefine luxury living and contribute to Dubai’s ever-evolving skyline.”

MERED has secured approvals from key government authorities and broken ground for ICONIC Residences, with design and contractor procurement nearing completion and main construction slated to begin shortly.

The ICONIC Residences designed by Pininfarina will feature 310 luxury apartments and amenities, with unit handovers slated for Q3 2027. Residents will enjoy offerings such as spa, restaurants, kid’s club,  infinity pool, gym and yoga spaces, retail outlets, and much more.

Ozan Şener, Chief Executive Officer at SERA Group added, “We are excited to collaborate with MERED on this landmark project. Our extensive experience across diverse sectors, combined with our deep-rooted dedication to quality and innovation, positions us perfectly to deliver the ICONIC Residences design by Pininfarina to the highest standards. With its prime location and MERED’s visionary approach, this project is destined to become one of Dubai’s most prestigious addresses.”

In 2024, Dubai’s property market cemented its global leadership, achieving record growth. Dubai also holds the world’s second-largest pipeline of branded residences, with 17,000 units in operation and 5,000 in development. ICONIC Residences, designed by Pininfarina, meets rising demand for premium, world-class homes.

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AMEA Power has announced the commissioning of its 500MW Abydos Solar PV Plant in Egypt. Located in the Aswan Governorate, the project underscores the commitment to accelerating the global transition to clean energy and is said to be one of the largest solar PV plants in Africa. AMEA Power also signed a Power Purchase Agreement and Land Agreement for an additional 500MW Wind Project in Egypt.

The Abydos Solar PV Plant will generate approximately 1,500GWh of clean energy annually, enough to power approximately 300,000 households, while offsetting 782,300t of CO2 emissions. Completed in 18 months, it demonstrates AMEA Power’s technical and efficient project execution. More than 3,000 personnel on site contributed to the solar plant’s construction, highlighting the focus on job creation and local collaboration. The project was financed by the International Finance Corporation (IFC), Dutch Entrepreneurial Development Bank (FMO), and Japan International Cooperation Agency (JICA), said a statement.

Hussain Al Nowais, Chairman of AMEA Power said: “I am proud to announce that the 500MW Abydos Solar PV Plant is now fully operational – a landmark achievement that highlights the dedication of our team, the strength of collaboration, and the importance of empowering local communities. This milestone demonstrates AMEA Power’s technical excellence and sets a new standard for renewable energy projects. The solar power plant is a significant step in Egypt’s renewable energy strategy, supporting the goal of achieving 42% of energy generation from renewables by 2030. Together, we are driving progress toward a sustainable future.”

In September 2024, AMEA Power was awarded two projects in Egypt. The first, a 1,000MW solar PV with a 600MWh battery energy storage system (BESS). The second, a 300MWh BESS, which is an extension of the company’s existing 500MW Abydos solar PV plant. The project will pioneer the first-ever use of a utility-scale BESS solution in Egypt.

AMEA Power remains committed to community development. In collaboration with local stakeholders, the company has undertaken key initiatives in Aswan Governorate, including: renovating and equipping the Al Fares health unit to enhance local healthcare services. Providing technical training sessions for youth at the project site and creating employment opportunities during construction and renovating the Al Azhar Girls’ Institute to support education in the community.

Furthermore, the 500MW Amunet Wind Farm, located in Ras Ghareb, is currently under construction and is expected to be operational in the first quarter of 2025. These initiatives reflect AMEA Power’s dedication to fostering sustainable development and empowering local communities as an integral part of its operations, the statement noted.

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Wasl has said that units in its Al Diyafah Residences residential project are ready for leasing. The project comprises 126 apartments, 40 townhouses and four retail shops with adequate parking facilities located centrally in Dubai at Al Bada’a neighbourhood, adjacent to Jumeirah Rotana Hotel and behind Al Ghazal Mall.

The project was designed to meet the diverse needs of residents and features modern amenities including a swimming pool and gym. It offers convenience, accessibility, comfort, and community living, making it an ideal choice for those seeking quality residential and retail spaces in one of Dubai’s most sought-after areas, said a statement.

It is designed to foster a sense of community with landscaped areas and communal spaces, creating a welcoming environment for residents, it added.

With a mix of apartments and villas, public transportation, hypermarkets, health centers, and Al Wasl Park, Al Badaa is a sought-after address. Units include one- and two-bedroom apartments; the project also offers contemporary three-bedroom villas which are designed to cater to modern living needs.

Al Bada’a neighborhood is nestled between Al Satwa and Jumeirah 1. Its location offers access to landmarks like the Etihad Museum and Jumeirah Mosque. Residents benefit from a variety of nearby facilities, including schools, restaurants, and leisure spots, as well as easy access to City Walk Dubai and Sheikh Zayed Road.

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Meraas has announced the launch of the latest phase of its premium residential gated community, Nad Al Sheba Gardens. The new phase introduces a range of meticulously crafted homes, including three-bedroom townhouses and villas with four, five, six, and seven bedroom options.

These residences are tailored to provide a blend of privacy and elegance, making them a strong choice for residents looking for a luxurious lifestyle combined with a serene, nature-filled environment, said a statement.

The community will offer sweeping views of green landscapes and a swimmable lagoon, while the collection of townhouses and villas are to feature open layouts and elevated, double-height ceilings.

The Nad Al Sheba Gardens community will also offer a range of amenities for leisure, fitness and relaxation. Walkable roads, cycling, and running tracks, children’s play areas will be coupled with a multi-sport court, wave pool, yoga lawn and community farm which will add to the community’s wholesome, holistic tone, it added.

All the residences will feature contemporary designs with clean lines and natural materials, creating spacious, light-filled interiors. Signature architectural details, such as stone accents, honeycomb tones, and panoramic windows, merge luxury and functionality.

There will also be a wide variety of retail options, with food and beverage outlets, a nursery, and health and fitness amenities. Waitrose, the renowned premium British supermarket brand licensed by Spinneys in the UAE, will be the anchor store.

Nad Al Sheba Gardens offers close proximity to Meydan Racetrack, while the host of key leisure destinations in the Downtown neighbourhood are only ten minutes away, the statement concluded.

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AD Ports Group has appointed Hassan Allam Construction to build the infrastructure of Noatum Ports – Safaga Terminal on Egypt’s Red Sea coast, which will be the first internationally operated port terminal in the Upper Egypt region.

The terminal will have an area of 810,000sqm and feature a 450,000 TEU container capacity, five million tonnes of dry bulk and general cargo capacity, one million tonnes liquid bulk capacity, Ro-Ro facilities with 50,000 CEUs capacity, as well as common areas. The facilities will include administration buildings, workshops, warehouses, and authority buildings, along with extensive infrastructure development including roads, utilities and security systems. The project will feature a 48,000sqm concrete apron, an 80,354sqm container terminal with supporting infrastructure, and approximately 66,360sqm for general cargo and break-bulk operations.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group said, “We are delighted to sign this construction agreement today with Hassan Allam Construction to build Noatum Ports – Safaga Terminal, which will create a new source of economic growth for the people in the region, in line with the wise vision of our leadership in the UAE.”

Hassan Allam, CEO of Hassan Allam Holding added, “We welcome this opportunity to work with AD Ports Group, one of the fastest growing trade, transport and logistics groups in the Middle East, to deliver Noatum Ports – Safaga Terminal, which will be a key addition to Egypt’s maritime and ports infrastructure on the Red Sea. With our track record of more than 90 years, Hassan Allam Holding looks forward to delivering this large-scale, strategically important project for Egypt.”

The terminal is part of a US $349mn investment made by the group in Egypt over the last three years, which includes the purchases of maritime companies Transmar, TCI and Safina, the planned construction of a Ro-Ro terminal in Ain Sokhna, and long-term concessions to develop and operate cruise terminals in Safaga, Hurghada, Ain Sokhna and Sharm El-Sheikh.

The UAE is Egypt’s second-largest trading partner and its biggest international investor, according to the Egyptian Commercial Service (ECS), with $9.6bn invested in the country in 2023. The UAE had a trade volume of $6.9bn with Egypt in 2023, according to the UAE Ministry of Economy. Over 1,600 Emirati companies are present in Egypt.

In February 2024, two countries signed an agreement that will see the UAE invest $35bn to develop the Ras El-Hekma coastal region.

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ROSHN Group has become the first developer in Saudi Arabia to sign a long-term agreement for Mostadam sustainability certifications under the Sustainable Building program. The move reinforces the developer’s commitment to sustainable real estate development.

The deal, which is for three years, will allow ROSHN to step up the pace of sustainability certifications for all of its projects throughout the Kingdom, ensuring that all of its destinations and projects will be both built and operated in line with the environmental and social aspirations of Vision 2030 and its national programs, said a statement from the developer.

Launched in 2019, Mostadam aims to meet the needs of real estate development projects and operational assets in the Kingdom that address Saudi Arabia’s specific economic, social, and environmental conditions.

There are five levels of certification, with the lowest being ‘Green’ and the highest being ‘Diamond’. The program takes a holistic approach to sustainability development in the real estate sector, and takes into account sustainability of a particular site, utilisation of resources, procurement of materials and generation of waste, and how the site links into the geography around it.

A number of ROSHN’s projects are already Mostadam certified Diamond. ROSHN’s flagship project in Riyadh, SEDRA, and its community in East Riyadh are certified at the diamond level. Outside of Riyadh, ROSHN’s ALMANAR in Makkah and ALFULWA in AlHofuf are also certified at diamond level, as well as several of its buildings and assets, the developer confirmed.

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