Sudair to host logistics centre
The Saudi Industrial Property Authority (Modon) has signed a deal with Dar Al Bandar International Trading for the establishment of an integrated 150,000-sq-m warehouse centre at Sudair City for Industry and Business, according to a report.
Dar Al Bandar International is the UAE-based Landmark group’s operations in Saudi Arabia.
It has the franchise for famous brands such as Centrepoint, Homecentre, Max, Citymax and others, according the Saudi Gazette report.
The deal represents the first phase of the project, with the deal for the second phase expected to be signed next year, expanding the centre to 300,000 sq m.
The contract was signed by Modon director general Saleh Al Rasheed, and Dar Al Bandar International chairman Prince Bandar bin Saud bin Khalid Al Saud.
Alstom to boost power grid
Alstom Grid, a global leader in the world of power and transmission, has signed a deal with National Grid of Saudi Arabia to develop the electricity infrastructure in the kingdom.
Under the agreement, the two companies will co-operate in the fields of standards and specifications, engineering and design, maintenance and operation, technical exchange forums and technology roadmap.
The memorandum of understanding (MoU) was signed by Mohammad Al Rafaa, the engineering vice-president of National Grid, and Michel Augonnet, the senior vice-president (commercial solutions) Alstom Grid at the Alstom Grid headquarters in Paris, France.
This co-operation between Alstom and National Grid includes main equipment such as HV (high voltage) switchgear, power transformers, substation automation solutions including protection and measurement IEDs (intelligent electronic devices) and a digital substation.
Cayan breaks ground on project
Cayan Group, one of the leading real estate developers in the Middle East, said it has broken ground on CMC, its high-end project in Riyadh.
Previously launched as CM1, CMC is a sophisticated business centre located on King Fahd Road. The project has been undertaken in collaboration with Mefic Capital, a Saudi-based financial services company.
Commenting on the launch, Ahmed Alhatti, the president and chairman of Cayan Group, said: “CMC is strategically located on the King Fahd Road in Riyadh and is a perfect model of a multi-use integrated commercial complex, which includes luxury offices and distinctive facilities such as a screen and a high-tech fitness centre, among others.”
CMC, he stated, will be the new headquarters of both Mefic Capital and Cayan Group.