Latest news with #TheAvenues
Zawya
a day ago
- Business
- Zawya
AECOM to provide PMC and engineering services for Phase 2 of $4bln The Avenues
NYSE-listed engineering consultancy AECOM announced on Monday that it has been appointed by Shomoul Holding Company as the Project Management Consultant (PMC) and engineer for Phase II of The Avenues - Riyadh in Saudi Arabia. The award follows AECOM's successful delivery of Phase I, the firm said in a press statement without disclosing the contract value. Valued at over $4 billion, the mixed-use development in North Riyadh City spans 1,870,000 square metres (sqm) of built-up area and 370,000 sqm of leasable area. The project includes 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, the statement noted.. (Editing by Anoop Menon) (
Business Wire
a day ago
- Business
- Business Wire
AECOM selected to deliver project management and engineering services for The Avenues
DALLAS--(BUSINESS WIRE)--AECOM (NYSE: ACM), the trusted global infrastructure leader, today announced it has been appointed by Shomoul Holding Company as the Project Management Consultant (PMC) and engineer for Phase II of The Avenues - Riyadh, a transformative mixed-use development in North Riyadh City, Saudi Arabia, following the successful delivery of The Avenues Phase I. The Avenues aims to be one of the most prominent commercial and investment destinations in the Middle East, elevating Saudi Arabia's position as a regional hub for business, innovation and lifestyle. '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 Forward-Looking Statements All statements in this communication other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; potential government shutdowns, changes in administration or other funding directives and circumstances that may cause governmental agencies to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; changes in government laws, regulations and policies, including failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical events, and conflicts; inflation, currency exchange rates and interest rate fluctuations; changes in capital markets and stock market volatility; retaining and recruiting key technical and management personnel; legal claims and litigation; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
The Herald Scotland
25-07-2025
- The Herald Scotland
Glasgow is struggling but best days could be yet to come
But it's not all bleak, far from it. There are promising signs that Glasgow is starting to rediscover its stride. City centre footfall figures have been steadily improving, a clear indication that people are returning, whether for work, shopping, hospitality or cultural experiences. This isn't just anecdotal. The data shows a gradual yet encouraging return of vibrancy to our streets. For the first five months of this year footfall is up by 9% on last year with some months almost matching the pre-Covid performance. Recent events such as the Glasgow Mela, TRNSMT, Pride, and quite frankly a summer of warm weather, have all encouraged people back into the city to rediscover all that it has to offer. The City Council has taken a lot of criticism for the city's appearance, but it would be wrong to suggest that they have not been responding. Returning visitors will find a considerable amount of work is being done to freshen up our city centre through The Avenues programme, a major £120m infrastructure investment initiative which is designed and driven by Glasgow City Council. Funded chiefly by the UK and Scottish Governments through the Glasgow's City Deal, the Avenues Programme aims to make the city centre more attractive, especially for pedestrians, and it will set a standard for the quality of the public realm we would like to see rolled out across the city centre. Read more: George Square is perhaps the most visible project now under way, but the City Council has also published plans for streets in the retail heart including Argyle Street, Queen Street, Ingram Street and George Street. A good example of what the finished product could look like is on Holland Street and Pitt Street around the Moda Living housing development on the site of the former police station. The broken and patched up pavements are gone and have been replaced with good quality stone, more pedestrian space and fresh green landscaping. Rethinking the access for buses along Argyle Street is also helpful as it will take pressure off surrounding streets. These works will only succeed in the longer term if they are well maintained. If after a few months paving stones are broken, or street furniture is left unrepaired, the decay will quickly set in. It was therefore encouraging that the City Council budget for this year allocated an additional £20m for the upkeep of roads, pavements and parks alongside funds for increasing the staff devoted to cleansing. Admittedly these new resources are for use across the entire city, but the message from citizens is getting through, more needs to be done to get our city centre back into shape. However, city recovery cannot depend solely on the City Council. Local authorities and public agencies play a pivotal role but so must the local business community. The current process to put a city centre Business Improvement District (BID) to a vote reflects a shared ambition among many businesses to contribute proactively. A successful BID would mean businesses contributing could direct funds to deliver improvements. Depending on their choices there could be a higher standard of cleanliness, greater security and better maintenance of street furniture, more than the City Council can currently afford to deliver on its own. More importantly is the role of the private sector in funding the repurposing of empty offices and redundant shop units. The public sector doesn't have the funding needed, but the public sector can make decisions and set policies that make investment attractive to the private sector. Even as we make progress locally, decisions from the [[Scottish Government]] can disrupt or delay that momentum. The recent calling-in of planning approval for the ABC site, a critical site for the regeneration of Sauchiehall Street, is one such example. The site next to the Mackintosh building is sensitive and high profile. Seven years have passed since the fire that left it destroyed, and it is a blight on [[Sauchiehall Street]]'s recovery. Local decision-making, grounded in local understanding and expertise, must be respected if we're to make real strides. Over £70m of private funding is now on hold as we await the Scottish Government's review. If the decision is over-turned or even if the review process is drawn out, that investment will be lost and the site left derelict for many more years ahead. If substantial public money was made available different options could be explored but no offer has ever been made. Similarly, the Housing Bill's impact on investor confidence has been a serious concern. At a time when Glasgow is grappling with vacant properties that could be repurposed into much-needed homes or mixed-use spaces, policies that deter investment are undoubtedly stalling regeneration. It's frustrating to see opportunities slip away when the city is otherwise ready to act. We know anecdotally that investors who were previously keen to invest in Glasgow have turned their attention to other cities because of the uncertainty that the Housing Bill has created. Ultimately, the story of Glasgow today is one of cautious optimism. The challenges are real (and visible) but so too is the energy to address them. Local leadership, business engagement, and targeted investment are starting to make a difference. What we need now is alignment of local ambition matched by national support. If we get that right, Glasgow's best days needn't be behind it – they're still to come. Stuart Patrick is chief executive of Glasgow Chamber of Commerce
BBC News
04-07-2025
- Entertainment
- BBC News
Play celebrates 150 years of The Avenues in Hull
A play is to be performed to mark the 150th anniversary of The Avenues area of Hull. Developer David Parkinson Garbutt established the estate in 1875 as a residential area for the burgeoning middle classes of the city. High Windows, written by Barrie Wheatley, charts the area's history and is named after a poem by Phillip Larkin who lived at nearby Pearson Park. The play is being performed by the over 50s group from Northern Academy of Performing Arts in Hull at The Avenues Centre on Sunday afternoon. Known for its tree-lined roads, high Victorian buildings and ornate fountains, The Avenues was originally envisioned as an extension of Pearson Park. Garbutt was a promoter of the temperance movement so it is ironic that a bar on Princes Avenue is named after Ingram, who lives in the area, said: "Garbutt set out the four avenues, Westbourne, Marlborough, Park and Victoria, and had the drainage system built too so that it was ready for builders to buy up plots and build these big houses."He also bought 1,000 trees and six fountains to give The Avenues the feel of Parisian boulevards." Only three of those fountains remain and just one, on Victoria Avenue, is in working order. A replica was recently built there, paid for by local residents, which gushes water around the ornately decorated sculptures of mermaids and the corner from the fountain is the Avenues Centre on Park Avenue. The building is almost as old as The Avenues and opened in 1888 as an industrial school for girls. From 1919 it was used for other educational purposes and is currently an adult education centre. It is there that Mr Wheatley's play will be performed this weekend. "It takes the audience through the history of an Avenues house from 1875, when the residents were very posh people like bankers or shipping merchants," Mr Wheatley said. "They wanted the servants accommodation and the coach houses that the grand houses offered.""Looking at the green, tree-lined streets now, it is easy to imagine people promenading them 150 years ago," Mr Wheatley added."The layout itself and the exterior of the buildings hasn't changed. Many of them have the same fixtures inside."High Windows is at The Avenues Centre on Park Avenue at 14:00 and 16:00 BST on Sunday 6 July. Admission is free. Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Biz Bahrain
03-07-2025
- Business
- Biz Bahrain
The Avenues – Bahrain Launches Exciting 'Shop & Win' Campaign with a 2025 Maserati Grecale Modena Grand Raffle Prize
The Avenues – Bahrain, the largest seafront shopping and entertainment destination in the Kingdom, has launched its highly anticipated Shop & Win campaign. From July 1st until August 30th, shoppers who spend BD 30 or more will enter the grand raffle draw for a chance to win the all-new 2025 Maserati Grecale Modena SUV. Customers will also be able to win exclusive prizes through engaging competitions on The Avenues – Bahrain's social media accounts. The summer-long campaign will be complemented with various attractions, offering visitors a vibrant selection of experiences. A dedicated kids' activation will run in the Forum area from July 10th until August 16th, while photo opportunities throughout The Avenues – Bahrain will provide visitors a chance to capture special moments. On the occasion, Firas Barakat, Mall Director at The Avenues – Bahrain, commented, 'We look forward to welcoming guests to enjoy all that The Avenues has to offer this season. The campaign presents a wonderful opportunity for us to engage with our visitors in meaningful new ways. With exciting rewards and activities, memorable encounters will await them around every corner of The Avenues – Bahrain.' With its prime location, expansive retail outlets, food and beverage offerings, and family-friendly recreation, The Avenues – Bahrain continues to set the benchmark for integrated lifestyle destinations in the Kingdom. The recent completion of Phase II introduced an additional 40,000 sqm of retail space and over 200 new stores, alongside new districts such as Electra, The Forum, Grand Avenue, The Plaza, The Souk, and The Marketplace. The expansion also adds an indoor ice-skating rink, a supermarket, and entertainment zones, bringing even more to explore this summer at The Avenues – Bahrain for shopping, fun, and indulgence.
