AECOM selected to deliver project management and engineering services for The Avenues
'We are honored that Shomoul Holding Company has entrusted us to extend our key role on The Avenues - Riyadh,' said Hamed Zaghw, chief executive of AECOM's Middle East and Africa region. 'This award is a testament to the transformational outcomes we are delivering for our clients across the Kingdom, and we are excited to shape a development that aligns with Vision 2030 and sets a new benchmark for mixed-use environments in the Middle East.'
Valued at over $4 billion, the project spans 1,870,000 square meters of built-up area and 370,000 square meters of leasable area. It will include a luxury shopping mall and five towers featuring mixed-use functionalities such as hospitality, commercial and residential spaces. The Avenues - Riyadh is scheduled to open in early 2026.
'This appointment builds on our track record of delivering complex, high-profile developments that shape the cities of tomorrow,' said Jason Kroll, chief executive of AECOM Arabia. 'Our integrated team brings deep regional experience, digital delivery capabilities and industry-leading expertise in sustainability, and we look forward to collaborating with our partners to bring this world-class destination to life.'
AECOM will deploy advanced digital project management tools, data-driven dashboards and lean construction methodologies to optimize project tracking, enhance stakeholder communications, and proactively mitigate risks—setting new standards for project delivery in the region.
About AECOM
AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients' complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2024. Learn more at aecom.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
2 hours ago
- Arabian Business
Emirates Islamic to power Kimera Group's UAE finances with digital-first banking solutions
Emirates Islamic, one of the UAE's leading Islamic financial institutions, has been appointed as the lead cash management service provider for all UAE financial operations of the Kimera Group. Under the agreement, Emirates Islamic will deliver a comprehensive range of innovative digital and operational banking solutions, including: Access to its digital platforms businessONLINE and smartTRADE Smart Cash Deposit Machines (SCDM) Cheque Scanning ICCS Remote Cheque Printing The bank will also facilitate Payroll (Non-WPS) services and provide Corporate Credit Cards tailored to Kimera Group's needs. Emirates Islamic in the UAE Mohammad Kamran Wajid, Deputy Chief Executive Officer, Emirates Islamic, said: 'We are pleased to partner with Kimera Group to deliver digital banking solutions to meet their advanced financial needs. 'With a focus on innovation, operational excellence, and client-centric solutions, we continue to strengthen our position as a trusted partner to corporate clients, further reinforcing our position as a key player in the UAE's banking sector.' He added that the bank remains committed to digitally-first banking solutions that unlock efficiency, convenience, and agility, supporting clients through their digital transformation journeys. Tariq Al Ghussein, CEO, Kimera Group said: 'Partnering with Emirates Islamic is a strategic move in advancing Kimera Group's financial operations with state-of-the-art digital banking solutions. Their expertise and innovative platforms will enable us to enhance operational efficiency, optimise transaction management, and drive greater financial agility. 'This collaboration reflects our commitment to integrating best-in-class financial solutions that support our growth The collaboration reinforces Emirates Islamic's role as a key player in the UAE's corporate banking sector, providing Sharia-compliant, technology-driven solutions to support business growth and operational excellence.
Arabian Business
8 hours ago
- Arabian Business
Invest in seconds: PRYPCO unveils instant AI valuations for fractional real estate in Dubai
UAE-based PropTech firm PRYPCO has partnered with Ovaluate — the world's first AI-driven Automated Valuation Model (AVM) platform — to launch the first-ever instant valuation engine for fractional real estate. Integrated into PRYPCO Blocks, the Dubai Financial Services Authority (DFSA)-regulated fractional ownership platform, the new tool delivers accurate, regulator-approved property valuations, for both fractional and full ownership assets, in just 10 seconds. Ovaluate's AVM technology draws on real-time market data and global valuation standards to generate transparent, unbiased, and compliant reports. UAE PropTech launches Dubai real estate valuation service Amira Sajwani, Founder and CEO of PRYPCO, said: 'Fractional ownership has transformed real estate investing, and trust depends on valuations that are accurate, transparent, and fast. 'With Ovaluate's AI-driven valuation technology integrated into PRYPCO Blocks, every investor now gets instant, data-backed insights. It's about levelling the playing field, strengthening market transparency, and reinforcing Dubai's leadership in PropTech innovation'. The partnership marks a major step for transparency in real estate, offering valuation capabilities once reserved for institutional investors to a wider global audience. Omran Yousef, Founder and CEO of Ovaluate, said: 'Our mission has always been to ensure property valuations are instant, unbiased, and methodologically sound. By partnering with PRYPCO Blocks, we're not just enhancing that standard, we're bringing it into a new era of real estate investment, where technology and transparency empower every investor'. Since launching, PRYPCO Blocks has made premium, regulated property investment accessible to investors in more than 200 countries, starting from just AED2,000 ($544).
Zawya
11 hours ago
- Zawya
Digital Connect Infrastructure & Telecom (DCIT) Chairman Abiola Lukman Lawal becomes Board Member of African Energy Chamber
The African Energy Chamber (AEC) ( the voice of the African energy sector, is proud to announce that Abiola Lukman Lawal, Chairman, Digital Connect Infrastructure&Telecom (DCIT), has been appointed as the newest Board Member of the Chamber. A seasoned executive with over three decades of experience in the oil and gas, infrastructure, telecoms and aviation sectors, Lawal's appointment reaffirms the Chamber's commitment to uniting visionary leaders to drive Africa's energy and infrastructure transformation. Lawal's appointment to the AEC Board follows a major milestone for DCIT, which recently partnered with U.S.-based Vanu Inc. to launch solar-powered mobile network sites in underserved Nigerian communities. This collaboration leverages Vanu's low-power, off-grid systems and DCIT's infrastructure capabilities to deploy scalable, renewable energy-driven connectivity solutions. With proof-of-concept sites now live, plans are underway for expansion across Nigeria and into other African markets – signaling a major leap in energy-tech convergence on the continent. Prior to his leadership at DCIT, Lawal served as Managing Director and CEO of Eterna PLC, where he spearheaded one of Nigeria's most significant downstream energy turnarounds. Under his leadership, Eterna joined a consortium that delivered Nigeria's largest airside aviation fuel depot – the Joint User Hydrant Installation 2 – at Lagos' Murtala Muhammed International Airport. The 15-million-liter capacity facility now stands as a key asset in West Africa's aviation infrastructure. Further accomplishments under his tenure include restoring Eterna to profitability in FY 2024 after a N12 billion loss in 2023; projecting 27% revenue growth; achieving a 166% increase in operating profit in H1 2024; and driving a 117% year-to-date rise in share price – placing Eterna among the Nigerian Exchange's top-performing stocks. Lawal also championed significant investments in LPG and CNG, enabling long-term resilience and diversification in volatile market conditions. Recognized as one of BusinessDay's Top 25 CEOs in Nigeria for 2024, Lawal's strategic leadership continues to bridge traditional and emerging energy sectors. His prior roles include Deputy Managing Director and CFO at Eroton Exploration&Production, Executive Director at Oando Gas&Power and Group Chief Strategy Officer at Oando Plc – where he played a pivotal role in the company's downstream-to-upstream expansion strategy. 'The African Energy Industry is honored to welcome Abiola Lukman Lawal to our Board of Directors. He knows how to turnaround companies with his vary data driven and pragmatic leadership approach. His ability to connect infrastructure development, energy innovation and commercial strategy across both the public and private sectors makes him an invaluable addition to our leadership. Lawal's appointment comes at a critical time as we accelerate investment, technology deployment and inclusive growth across Africa's energy value chain,' states NJ Ayuk, Executive Chairman, AEC. As a Board Member, Lawal will support the Chamber's mission to foster a results-oriented business environment and promote private sector-led energy development across Africa. His leadership will be instrumental in driving cross-border collaboration, advancing infrastructure-led growth and helping to make energy poverty history across the continent. Distributed by APO Group on behalf of African Energy Chamber.
