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  • Saudi Yemen reconstruction delegation highlights sustainable development at UN conference in Qatar

    Officials from the Saudi Development and Reconstruction Program for Yemen are taking part in the 5th UN Conference on the Least Developed Countries being held in the Qatari capital Doha, the Saudi Press Agency reported on Wednesday. The program’s General Supervisor Mohammed Al-Jaber was representing the organization as part of the Kingdom’s delegation led by Minister of Economy and Planning Faisal Al-Ibrahim. The conference, running until March 9, aims to accelerate sustainable development in countries that require assistance through an action plan for the next decade.

  • A CSIS Podcast – Babel: Powering Recovery: Reform, Reconstruction and Renewables in Conflict-Affected States in the Arab World

    This week on Babel, Jon Alterman speaks with the Middle East Program's Will Todman to break down Will's new report, Powering Recovery: Reform, Reconstruction and Renewables in Conflict-Affected States in the Arab World. They talk about how governments and politicians in conflict-affected states can actually benefit from broken electrical systems, what the United States and international donors miss when they ignore those dynamics, and how renewable energy can offer a better pathway forward for donors and conflict-affected societies in the region. Then, Jon continues the conversation with Lubna Yousef and Caleb Harper, diving into Lubna's chapter on Libya and her experience on the ground before and after the revolution, and what key lessons donors should take away from Will's report.

  • Saudi and UAE lead $1.36tn Middle East construction boom

    Saudi Arabia and the UAE lead a Middle East construction sector with a total pipeline of $1.36bn of projects under development, according to real estate specialists CBRE. The figures are a sign of the ongoing real estate boom in the Middle East, despite global economic headwinds CBRE anticipates a positive outlook for Middle East real estate in 2023, as elevated oil prices and resolute economic growth are expected to support strong levels of occupier and investment activity.

  • Saudi Sovereign Wealth Fund Invests $1.3 Billion in Construction Companies

    The investment will allow the construction services sector in Saudi Arabia to scale up capacity, enhance capabilities, boost growth, drive advanced technology adoption, and improve local supply chains for current and future projects. The companies’ partnerships with PIF will help them expand their operations and businesses on a regional and international scale.

  • Turkey promises swift reconstruction after earthquake, Syrians seek aid

    Turkey said it would demolish buildings heavily damaged by a huge earthquake last week and swiftly start a mammoth reconstruction effort, with thousands of families struggling to survive amid the rubble and freezing conditions. Rescuers, who flew in to save people trapped in the debris, were starting to pack, although one woman was pulled out of a collapsed building on Wednesday after being buried for 222 hours.

  • Saudi Arabia’s PIF invests $1.3bn in four local construction companies 

    The Public Investment Fund has acquired stakes in Nesma & Partners Contracting Co., El Seif Engineering Contracting Co., AlBawani Holding Co., and Almabani General Contractors Co., according to a press release. These new transactions are part of PIF’s strategy to support and enable key strategic sectors in Saudi Arabia, in line with the goals outlined in Vision 2030, the Fund said in a statement.

  • Saudi Arabia’s PIF invests $1.3bn in four local construction companies 

    Saudi Arabia’s sovereign wealth fund has invested a total of $1.3 billion in four local construction companies, as part of the fund’s capital increase initiatives.  The Public Investment Fund has acquired stakes in Nesma & Partners Contracting Co., El Seif Engineering Contracting Co., AlBawani Holding Co., and Almabani General Contractors Co., according to a press release.  These new transactions are part of PIF’s strategy to support and enable key strategic sectors in Saudi Arabia, in line with the goals outlined in Vision 2030, the Fund said in a statement. 

  • NEOM releases short film on construction progress of Saudi Arabia’s four megacities

    NEOM wants to show the world that the four futuristic megacities of Saudi Arabia will come to life in the future by documenting its construction so far in a recently released video. In an interview with designboom, which has been updated here to include architectural names that might participate in the project, NEOM’s director of urban planning Tarek Qaddumi says that the design team started the construction of the spine in 2021 in Saudi Arabia, the infrastructure corridor that runs the whole length of one of the cities and perhaps the most known one named THE LINE.

  • NEOM releases short film on construction progress of Saudi Arabia’s four megacities

    NEOM wants to show the world that the four futuristic megacities of Saudi Arabia will come to life in the future by documenting its construction so far in a recently released video. In an interview with designboom, which has been updated here to include architectural names that might participate in the project, NEOM’s director of urban planning Tarek Qaddumi says that the design team started the construction of the spine in 2021 in Saudi Arabia, the infrastructure corridor that runs the whole length of one of the cities and perhaps the most known one named THE LINE.

  • Middle East construction activity shows positive upward trend in Q4 2022

    The headline index edged up to +25 from +20 previously. Saudi Arabia and Nigeria displayed amongst the strongest CAI readings relative to all other countries covered. The UAE and India also exhibited firmly positive returns for the headline activity measure.