Latest news with #residentialproject
Trade Arabia
5 days ago
- Business
- Trade Arabia
Lamar, Asyad break ground on major Aramco housing project
Lamar Holding, a leading developer of large-scale PPP projects in the region, has joined hands with its consortium partner Asyad Group for the ground-breaking of Saudi oil giant Aramco's prime residential project - Abu Ali Housing - in the kingdom's Eastern Prrovince. A leading Saudi family conglomerate, Asyad Group has major interests in key sectors including real estate, capital, aviation and investments. Located north of Jubail industrial city, the Abu Ali Housing project features serviced residential compounds that will cater to the needs of 500 employees working at Abu Ali Island. This project marks the third iteration of its significant partnership with Saudi Aramco, the visionary institution focused on the wellbeing of its people, said Lamar in its LinkedIn post. It is being implemented in co-ordination with Asyad Holding Group and its key collaborator Sinohydro and chief lender Riyad Bank. The project is set to be operational in 2027 and has a concession tenor of 20 years, it added. "At Lamar, we've always believed that infrastructure is more than buildings and utilities. It is about people. It's about delivering places that foster dignity, wellbeing, and pride for those who serve in demanding conditions," said a company spokesman. "Building on our successful delivery of the East-West bachelor compound ahead of schedule and within budget, this project continues our consortium's commitment to providing high-quality and accessible housing for Aramco's brave remote staff. We aim to raise the bar and exceed the high standard developed previously," he noted.
Zawya
6 days ago
- Business
- Zawya
Alef breaks ground on $300mln Al Mamsha Raseel residential project in Sharjah
UAE-based developer Alef announced on Wednesday that it has broken ground on the 1.1 billion UAE dirhams Al Mamsha Raseel residential project within its Al Mamsha master development in Muwaileh in Sharjah emirate. The main contractor for the 2,210-unit project is China's CC-7 (China National Chemical Engineering & Construction Corporation Seven Ltd). Al Mamsha Raseel marks Zone 3 of Al Mamsha and is expected to be completed by December 2028. Al Mamsha Sharjah is divided into three zones: Zone 1 – Al Mamsha Souks, Zone 2 – Al Mamsha Seerah and Zone 3 – Al Mamsha Raseel. Al Mamsha Seerah encompasses three residential complexes housing a total of 1,586 units. (Editing by Anoop Menon) (
Zawya
03-06-2025
- Business
- Zawya
AQARAT-IFA partnership awards $54mln infrastructure works contract for Al Tay Hills
Kuwait-listed Kuwait Real Estate Company (AQARAT) in partnership with IFA Hotels and Resorts has awarded infrastructure works contract worth 198 million UAE dirhams ($54 million) to UAE-based Darwish Engineering for its AED 3.5 billion ($953 million) 'Al Tay Hills' residential project in the emirate of Sharjah. The contract was signed by Nakheel Village Real Estate Company, the project's executive arm and a subsidiary of Kuwait Real Estate, AQARAT said in a press statement. The scope of work includes the design and construction of basic infrastructure, including sewage networks, a wastewater treatment plant, two water pumping stations, road and stormwater drainage, electricity, telecommunication, and water networks. The three-phase Al Tay Hills project, located in the Al Tay area on the Sharjah-Dubai border, is spread over an area of six million square feet (sq ft) and includes 1,100 villas and townhouses, 3 community malls, and 2.5-kilometre-long green spine, dubbed the Green River, and walking and cycling paths totaling 11km. The first phase of the project is scheduled for delivery in the first quarter of 2028. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
