Firm to build 3,200 schools
TATWEER, a Saudi holding company specialising in education, plans to construct 3,200 schools and other educational facilities over the next five years, according to the Arab News.
A total of 1,700 sports halls and 1,500 kindergartens will also be built under a King Abdullah project to develop public education, the report stated.
Tatweer has held a series of meetings with Education Minister Prince Khalid Al Faisal to discuss the project’s scope and its guidelines. With this initiative, 346,000 pupils across the country will stand to benefit besides 35,000 teachers and supervisors, it added.
AC markets to surpass $2.5bn
SAUDI ARABIA'S air-conditioners (AC) market will surpass $2.5 billion by the year 2019, a report said.
Over the past few years, the kingdom’s air-conditioner market has witnessed a significant growth in demand across diverse sectors, added the Saudi Arabia Air Conditioner Market Forecast & Opportunities 2019, released by TechSci Research.
The report reveals that centralised air-conditioning units such as chillers and VRF (variable refrigeration flow) are expected to gain a stronger foothold in Saudi Arabia over the next five years. However, the share of window air-conditioners is expected to witness a decline during the same period, it said.
Firm wins $359.7m housing deal
SAUDI construction firm Abdullah Abdul Mohsin Al Khodari and Sons has won a SR1.35-billion ($359.7 million) contract from the Ministry of Higher Education for the construction of staff housing at the King Khaled University in Asir, in the south-western region of Saudi Arabia.
Real estate transactions hits $1.86bn
THE total value of real estate transactions in Saudi Arabia’s residential and commercial sector has grown 133 per cent in 2014 to hit SR7 billion ($1.86 billion), according to an industry expert.
Also, Madinah’s real estate market has witnessed robust growth in the past few years due to the development and construction plans, especially with regard to its housing projects, said Hussain Al Hazmy, the general manager at Mayar Real Estate agency.
Work on refinery completed
SAUDI Aramco Mobil Refinery Company (Samref) has completed the construction of major desulphurisation facilities in Yanbu, including a new hydrotreater that cuts sulphur levels in gasoline and diesel.
A joint venture with energy giants Saudi Aramco and ExxonMobil, Samref said the project is the largest investment in the company’s history. It will help reduce the sulphur levels in gasoline and diesel by 98 per cent, to 10 parts per million, which makes the refinery an industry leader in emissions reduction.