Diriyah launches its Media and Innovation District
In Saudi Arabia, Diriyah Company announced the launch of its Media and Innovation District in the second phase of Diriyah’s urban masterplan. Spanning 250,000 sq.m of office gross floor area, the district will feature 450 residential units as well as 15,000 sq.m retail space with a mix of dining options.
The district will also include a 325-room luxury 1 Hotel Diriyah – the first property from the global 1 Hotels brand marking its Middle East debut and designed using sustainable and local resources.
Armani launches Armani Residences Diriyah
Diriyah Company also announced that Italian design house Armani has chosen its City of Earth in Riyadh to launch its Armani Residences Diriyah. The 15 limited-edition residences will feature bespoke interiors individually curated by Giorgio Armani.
Comprising three distinct design concepts – The Palm Residences, The Botanical Residences, and The Royal Penthouses – these unique residential offerings range from 1,200 to 1,900 sq m. Located in Diriyah Square, the residences will be near the new Armani Hotel Diriyah that broke ground in November 2024 and will include 70 luxuriously designed rooms, two restaurants and a high-end spa, with suites having their own spa and a swimming pool.
Saudi Arabia awards mining exploration licenses
The Kingdom opened applications for pre-qualification for mining exploration licenses across three mineral-rich belts in the Riyadh and Madinah regions, which are rich in gold, copper, silver, zinc, and nickel, presenting substantial investment opportunities.
The pre-qualification application deadline for exploration licenses is set for May and is open to both local and international exploration companies. The initiative spans 24,946 sq. km. and is part of the Ministry of Industry and Mineral Resources’ broader plan to offer exploration licenses for over 50,000 sq. km. in 2025.
Lantania partners with L&T Ras Mohaisen desalination plant
A Joint Venture of Lantania and L&T will design, procure, construct and commission the Ras Mohaisen desalination plant, located 300 kilometers south of Mecca, in the Western Province of Saudi Arabia.
ACWA Power has selected the alliance formed by Lantania and Larsen & Toubro to develop the 300,000 m3/day desalination plant together with all the associated infrastructure and facilities. The value of this project is close to US$500 Mn.
Doosan Enerbility signs a contract with SEC
Doosan Enerbility announced the signing of a construction contract with the Saudi Electricity Co. (SEC) for the PP12 Combined Cycle Power Plant valued at US$610.7 Mn. The power plant, when completed, will have a capacity of 1,800 megawatts.
Doosan Enerability along with SEPCO3 signed another EPC contract for the Rumah 1 and Nairyah 1 combined cycle power plant projects with the developer consortium consisting of ACWA Power, Korea Electric Power Corporation (KEPCO) and Saudi Electricity Company (SEC). Siemens Energy along with Harbin Electric International was awarded a US$ 1.6 Bn EPC contract for Rumah 2 and Nairyah 2 gas-fired power plants.
