Construction & Real Estate

Saudi PIF company in deal to develop sustainable urban projects in Makkah

Rua Al Haram Al Makki Company, a Saudi PIF company dedicated to delivering projects surrounding the Makkah mosque, has collaborated with Alpha Development to explore and develop qualitative urban projects, including initiatives within the King Salman Gate Project. ...

Construction & Real Estate

Eviq in deal to set up EV charging infrastructure within New Murabba

New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba. ...

Construction & Real Estate

Saudi PIF unit to build 4,000-bed staff accommodation in Riyadh

Smart Accommodation for Residential Complexes Company (sarcc), a unit of Saudi sovereign wealth fund PIF, has signed a Heads of Terms (HoT) agreement with Tamimi Global for the development of a 4,000-bed staff accommodation project in northern Riyadh. ...

Construction & Real Estate

PIF unit signs up Mawref to build worker residential complex in Riyadh

Smart Accommodation for Residential Complexes Company, a Saudi PIF company, has signed an heads of terms (HoT) agreement with Mawref Company to develop a 12,000-bed worker accommodation project on a 120,000 sq m site in a prime location in North Riyadh. ...

Construction & Real Estate

PIF in deal to set up integrated aluminium complex in Saudi Arabia

Saudi sovereign wealth fund PIF has reached an agreement with Red Sea Aluminium Holdings (RSAH) to jointly develop an single integrated downstream aluminium complex in Yanbu. The duo aims to introduce advanced smelting and continuous-casting technologies to the Saudi market. ...

Construction & Real Estate

Parsons lands New Murabba infrastructure lead design consultancy contract

Parsons Corporation has secured the infrastructure lead design consultancy contract from Saudi PIF-owned New Murabba Development Company for its mega project in the kingdom. The scope of work includes provision of design and construction technical support for New Murabba project. ...

Construction & Real Estate

New Murabba signs strategic deal with Saudi housing ministry

New Murabba, a unit of Saudi wealth fund PIF, has signed a strategic agreement with the Ministry of Municipalities and Housing to jointly work on streamlining development processes, implementation of smart city standards as well as enhancing the quality of life for residents. ...

Construction & Real Estate

Saudi PIF company opens Alsirah Gardens in Madinah

Qsas Company, a major subsidiary of Saudi sovereign wealth fund PIF (Public Investment Fund), has announced the launch of its Alsirah Gardens project in Madinah. Spanning 70,000 sq m, it features seven enrichment zones offering interactive and creative experiences....

Construction & Real Estate

JLL inks deal to acquire strategic stake in Saudi PIF company

Global real estate expert Jones Lang LaSalle (JLL) has announced that it has reached an agreement with Saudi Arabia's sovereign wealth fund PIF to acquire a significant stake in its company - Saudi Facility Management Company (FMTECH). ...

Construction & Real Estate

Apple in deal to open flagship store at Diriyah Square

Diriyah Company, the developer of Saudi Arabia's premier historical, cultural, and lifestyle destination, has entered into a lease agreement with Apple to open an iconic retail store at its premier retail district - Diriyah Square - within the City of Earth....

Construction & Real Estate

Foster + Partners seals collaboration deal with Saudi PIF

Foster + Partners, a British international architecture firm, has announced that it has signed a non-binding agreement with Saudi sovereign wealth fund PIF to explore potential collaboration opportunities in the Saudi market. ...

Construction & Real Estate

Saudi PIF announces sale of strategic stake in Masar

Saudi sovereign wealth fund PIF said it has sold out a part of its stake in Umm Al Qura for Development and Construction Company (Masar), through an accelerated bookbuild offering. It comprises 48 million shares, representing 3.3% of Masar’s share capital. ...

Construction & Real Estate

Saudi PIF, Acwa Power to collaborate on power, water infrastructure

The Saudi Public Investment Fund (PIF) and Acwa Power have signed a memorandum of understanding (MoU) to explore opportunities to develop power and water infrastructure for PIF’s local real estate portfolio companies....