MENA Project Tracker — Iraq Gas Project Receives 7 Bids; TRSDC and AREIC form joint venture for $400m Red Sea resort
RIYADH: Iraqi oil and gas company Gulf Keystone Petroleum has received seven bids for its planned gas management project at the Shaikan field, MEED reported citing the company’s chief executive, Jon Harris.
The $250 million gas management project includes the development of a third production facility on the land as well as a gas gathering pipeline, he added.
“Most of the third production facility will be made up of gas processing and compression units,” Harris told MEED, adding that the company will install a first production facility at the same site.
Companies bid for Misk Foundation Forum Bridge
Saudi Arabia’s Mohammed bin Salman Foundation, known as the Misk Foundation, has received bids from contractors to develop its new 240-meter Forum Bridge.
The project will take place in the Prince Mohammed bin Salman Nonprofit City project, known as Misk city, which the foundation is developing in Riyadh.
Among the contractors who submitted bids are local companies Saudi Mohammed Al-Rashid Co. and Real Estate Infrastructure Company, according to MEED Projects.
Located in the district of Irqah, the Misk City project will cover an area of 3.4 square kilometers, which will include 500 villas and townhouses and 6,000 apartments.
TRSDC and AREIC collaborate on the Jumeirah Red Sea Resort project
The Red Sea Development Company has formed a joint venture with Almutlaq Real Estate Investment Company to develop the $400 million Jumeirah Red Sea resort on Shura Island.
Scheduled to start operations in 2024, Shura Island will feature luxury resorts and suburban neighborhoods, entertainment and leisure facilities and a 118-berth marina, Trade Arabia reported.
“We are extremely pleased to partner with TRSDC and its best management team on this exciting and compelling project,” said AREIC President Tariq Almutlaq.
“The destination is coming to life and we look forward to welcoming our first guests in 2024,” he added.