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While Europe’s Trans-European Transport Network will cost $600 billion, China’s Belt and Road Initiative predicts an investment of over $1 trillion. Meanwhile, several projects in the Gulf Region exceed $100 billion, such as NEOM, set to house 450,000 residents by 2026, and The Line, a futuristic city in the UAE that is 170 km long, 200 m wide, and 500 m tall. Silk City in Kuwait, meanwhile, will be home to the world’s future tallest building, Burj Mubarak.
The Northern Cultural District Car Park project has broken ground, marking a crucial step in the development of Diriyah, part of the $63.2 billion Diriyah giga-project masterplan, which promises to be a world-class destination in the Middle East.
Saudi Arabia’s Red Sea Global has signed up ILF Consulting Engineers as an independent engineer for the implementation phase of a major carbon-neutral energy system in the kingdom.
The project, which is estimated to cost around $1.5 billion, is being developed under the PPP (public-private partnership) model by a consortium led by leading Saudi utility developer Acwa Power.
Masdar, a leading clean energy company, has achieved financial close on three solar photovoltaic projects in Uzbekistan, marking the largest solar development program in the region with a combined capacity of around 900 MW.
As the report mentioned, financing for the projects is being provided by major international banks, while Masdar has committed capital to the projects under the Energy Transition Accelerator Financing initiative.
A report says Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has become the first Saudi hospitality entity to achieve the prestigious Green Key certification for its Turtle Bay Hotel at The Red Sea.
Turtle Bay Hotel is a self-operated property with 90 employees, 50% of whom are Saudi nationals from the local community and 30% are Saudi females.
Dubai has developed a world-class framework to imagine, design, and create the future, H.E. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Dubai Executive Council, and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), said during a DFF Board of Trustees meeting.
According to the report, which describes Dubai as one of the most future-ready cities in the world, Sheikh Hamdan said the emirate has created a unique blueprint for fostering strategic partnerships, disruptive business models, and innovative workplace practises.
The first-of-its-kind survey to gauge public opinion on issues like climate change and pollution has found that 59% of people in Saudi Arabia are convinced that climate change is real, and 56% believe that the risk of climate disruption is serious and immediate.
Report highlighted, Led by Veolia in partnership with the research and consulting firm Elabe, the survey called the Ecological Transformation Barometer also shows that 59% of the respondents feel that the future is still in our hands and that climate disruption and pollution can be limited.
A report says South Energy, a major energy provider, announced the successful installation of solar panels in 10 buildings at Sakany.
Al Habtoor Group, the largest and most respected conglomerate company in the region, announces a strategic partnership with SirajPower, the region’s leading distributed solar energy provider.
As highlighted in the report, the partnership is to deliver large-scale solar installations across eight projects of the group in the UAE.
The largest and the only locally owned and operated integrated distributed solar energy provider in the region, SirajPower, has recently commissioned a 2.8 MWp solar project for Habtoor Motors and has also committed to providing its fully integrated solar solutions to seven additional projects under Al Habtoor Group.
According to the report, Masdar will allow the UAE to grow its renewable energy portfolio by four times, from the current 25,000 megawatts to more than 100 gigawatts by 2030. Dr. Sultan bin Ahmed Al Jaber is the Minister of Industry and Advanced Technology and President-designate for COP28.