Zamil Steel Construction Company (ZSCC) has been awarded a turnkey contract worth SR90.8 million ($24.2 million) by the Gulf Real Estate Company for its new shopping mall project in Saudi Arabia’s Eastern Province.
Knight Frank, a global real estate consultancy, has opened an office in Riyadh in a move to expand its footprint in the region. Stefan Burch, general manager, Knight Frank Saudi Arabia, expects demand for real estate in the kingdom to continue to grow in the short to medium term.
Jacobs Engineering Group said it was won a major programme management services contract from Nesma & Partners for a hospital project in Saudi Arabia. The contract duration for the Saudi Arabian National Guard Hospital programme is up to three years, including option periods.
Kone, a global leader in the elevator and escalator industry, has initiated the first phase of elevator installation work at the Kingdom Tower construction site in Jeddah, Saudi Arabia.
Continuing growth in the construction industry coupled with favourable government policies will drive Saudi Arabia’s PVC (polyvinyl chloride) market to reach $892 million by 2020, a report said.
AlRajhi United, a leading investment company in Saudi Arabia, said it has completed a land acquisition deal worth nearly SR600 million ($163 million) in Riyadh to develop one of the most striking projects in the kingdom.