Construction – Page 2 – Virtual VE Summit | 30 Mar 2022

Hilton has reiterated its commitment to Saudi Arabia, stating that it is on track to operate and pipeline 100 hotels this year. The move reflects its long-term dedication to growth in the Kingdom. Hilton said it is actively introducing more of its award winning brands to the country, with 14 brands currently trading and in the pipeline. As part of its growth strategy, the company anticipates multiple new signings, aiming to add over 21,000 rooms across various locations in Saudi Arabia.

The hospitality brand’s premium economy offering, Spark by Hilton, is making its debut in the Middle East and Africa with a new signing. Since its launch in 2023, Spark by Hilton has been at the forefront of innovation, uniquely positioned to grow and scale rapidly. The brand offers a simple, inspired design, comfortable guest rooms, and a complimentary breakfast. Spark by Hilton is also conversion-friendly, providing reliable essentials and friendly service for every guest at an accessible price point, the firm company said in a statement.

Guy Hutchinson, President, Middle East & Africa, Hilton said, “Saudi Arabia is undergoing a remarkable transformation, and we are proud to be playing a leading role in it becoming a top global tourism destination. The Kingdom offers a unique blend of rich cultural heritage, natural landscapes, and modern lifestyle developments. Our diverse portfolio – spanning luxury and lifestyle, through to premium economy and midscale brands – will help broaden the appeal for today’s discerning travellers. In line with Saudi Vision 2030, our growing hotel pipeline is set to generate over 15,000 job opportunities, with a significant focus on employing Saudi nationals.”

Carlos Khneisser, Vice President, Development, Middle East & Africa, Hilton added, “We are excited about reaching 100 hotels trading and in the pipeline in Saudi Arabia, as we continue to diversify our footprint and introduce more of our global brands across both established and emerging destinations. Our continued partnership with Al Musbah Group is testament to this growth and our commitment to supporting private sector development in the Saudi tourism industry.”

“We are proud to have Al Musbah Group as part of our highly valued ownership community and to be working with them to introduce the region’s first Spark by Hilton in Makkah. With two-thirds of our pipeline in Saudi Arabia already under construction, we look forward to continuing our work with new and existing owners to deliver more hotels at all price points for guests across the kingdom,” Khneisser continued.

Spark by Hilton Makkah Aziziyah, is set to open later this year, marking its debut in the Middle East and Africa (MEA) region. The 329-guest room property will offer a variety of guest rooms, including twin-bed and triple-bed options. Located to the east of Masjid Al Haram in Makkah’s Aziziyah district, the hotel is said to be conveniently situated near the religiously significant area of Mina, a crucial site during the Hajj pilgrimage.

Pilgrims can easily access the hotel via direct train access to Arafat. The surrounding area is bustling with commercial outlets and hotels that cater to religious travelers throughout the year. Spark by Hilton Makkah Aziziyah is a project of Al Musbah Group, which is also involved in several other Hilton projects across Makkah, Madinah, and Dammam, the statement outlined.

“Spark by Hilton adds to Hilton’s growing mid-scale presence across established and up-and-coming cities in the Kingdom, complementing existing brands such as Hampton by Hilton and Hilton Garden Inn, which together account for one-third of the company’s hotel pipeline,” remarked Khneisser.

Hilton has recently made several significant signings in Saudi Arabia. These include the opening of Hampton by Hilton and Hilton Garden Inn properties in Jeddah, Jizan, and Abha, as well as at the NEOM Community site. In Makkah, Hilton has partnered with Umm Al Qura for Development and Construction Company to open the Hilton Garden Inn, 1,560 guest rooms. Additionally, Hilton has collaborated with Knowledge Economic City (KEC) to establish the region’s first Home2 Suites by Hilton in the Middle East in Madinah. This development will be accompanied by properties under the Hilton Garden Inn and Hampton by Hilton brands.

Hilton said it is also expanding its luxury presence across the Kingdom through its Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts. They have secured a multi-property agreement at The Avenues – Riyadh, the largest mixed-use development in the Kingdom, which will feature a Waldorf Astoria and a Conrad.

Additionally, Hilton is developing a Waldorf Astoria in Diriyah Gate, one of Saudi Arabia’s key giga-projects, and will be opening Madinah’s first Waldorf Astoria. Hilton has also partnered with Rua Al Madinah Holding to open three hotels in the holy city, including a luxury Conrad Hotels & Resorts property. Furthermore, they have collaborated with Dan Co, a PIF subsidiary, to establish an LXR agritourism resort in Al Ahsa.

The post Hilton on track to hit 100 hotel milestone in Saudi Arabia appeared first on Middle East Construction News.

Source: MEConstructionNews

Bahrain Marina Development Company has appointed CBRE Bahrain to oversee the retail units within the project. CBRE Bahrain will develop a comprehensive leasing strategy that includes selecting the optimal mix of brands, planning the commercial area, and implementing occupancy strategies, said a statement.

Spanning a 250,000sqm area, Bahrain Marina boasts 128 retail units across high-end retail outlets, international restaurants, and renowned cafes. The project also includes luxury residential facilities, a marine club, and a five-star hotel. Bahrain Marina is one of the new waterfronts in the capital that aims to transform the shopping, tourism, and entertainment landscape.

Under the agreement, CBRE Bahrain will manage the day-to-day operations of commercial facilities and develop an innovative leasing plan. This plan will involve identifying tenant quality, creating a commercial distribution map, and ensuring a balanced mix of retail, hospitality, and complementary services. This appointment aligns with Bahrain Marina’s objective to attract global partners, ensuring a shopping and entertainment experience that enhances the project’s appeal as an integrated urban destination.

The Bahrain Marina Development Company has emphasised that the appointment of CBRE Bahrain marks a significant step towards elevating the commercial value of the project’s components, and laying the groundwork for a shopping experience in the Kingdom. Strategically located on the east coast of Manama, Bahrain Marina is a waterfront project that was developed with an investment of US $527mn.

The project will encompass retail stores featuring major brands, luxury restaurants, cafes, and a commercial complex. It also includes a yacht marina and marine club spanning 3,200sqm. The marine club will offer recreational activities and marine programs that aim to boost the tourism sector in the Kingdom, the statement explained.

The project provides a unique and distinguished accommodation experience for residents and visitors. It includes luxury freehold residential units, high-end hotel rooms, green spaces, and sports facilities. These amenities encourage an active lifestyle, enhancing the overall quality of life, the company stated.

CBRE’s global expertise will be instrumental in attracting prestigious brands and creating a shopping environment that caters to the aspirations of both visitors and residents. Through professional operational management and strategic planning, CBRE ensures the sustainability of the operation and maintains a diverse range of brands. CBRE Bahrain expressed its delight at partnering with Bahrain Marina on this significant project. It marks a pivotal moment in the real estate development landscape of the Kingdom of Bahrain.

“We will harness our global expertise to deliver an integrated operational experience that enhances the attractiveness of the project. As the designated company to manage the day-to-day operations of commercial facilities, we are committed to supporting Bahrain Marina in providing a strategic and structured approach to the management of this project. We believe this will elevate the destination to attract leading global and regional brands, enriching the commercial offering and reflecting the unique identity of the project,” said a CBRE spokesperson.

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Source: MEConstructionNews

Nakheel has unveiled the final phase of Bay Grove Residences on Dubai Islands, the development follows the sale of the previously released waterfront residential units. Bay Grove Residences on Island B is said to be a blend of beachside living and city life, enhancing Nakheel’s premium living destination.

This phase of the Bay Grove Residences on Island B comprises four designed buildings in a contemporary architectural style. It offers 257 urban residential units including: one-, two-, three-, and four-bedroom apartments, as well as a penthouse. The penthouse stands out as the only residence of its kind in the entire Bay Grove collection, said a statement.

Inside, the open-plan living and dining area with double height ceilings and floor-to-ceiling windows fosters a bright and airy atmosphere. The space transitions to a large terrace, ideal for entertaining, while offering 360-degree water views of openness and connection to the surroundings. Details such as custom joinery and stylish screens, add character and elegance to the residence. The primary suite features a walk-in closet, comfort with practical design, the statement outlined.

Offering access to Crystal Beach and situated near Marina Beach, each residential unit at Bay Grove Residences provides panoramic views of the Arabian Gulf. This ensures residents can enjoy a beachfront lifestyle with shoreline amenities. The development is set across a lush green podium, offering access to an infinity lap pool, a family pool, and a host of designed amenities. These include a clubhouse, fitness centre, yoga space, kids’ club, and pet wash area. The latest phase combines contemporary design with coastal living at its finest, the statement added.

Nakheel notes that residents at Bay Grove Residences can enjoy a swimmable beach and boardwalk, complemented by a community park and jogging and cycling paths. This promotes a balanced lifestyle within the location. Bay Grove Residences presents a vibrant residential ecosystem and is being created as a community with ample living spaces and a well-rounded lifestyle. It is pet-friendly and combines comfort, convenience, and connectivity, it explained.

Dubai Islands is a visionary waterfront destination that aligns with the Dubai 2040 Urban Master Plan. It features open spaces, parks, and golf courses overlooking the Arabian Gulf. The development comprises five islands covering a total area of 18.6sqm. Over 20km of beaches offer waterfront living, resorts, and cultural hubs within a short distance of Downtown Dubai, Dubai International Airport, and marine ports, the statement concluded.

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Source: MEConstructionNews

Fashion and lifestyle brand ELLE – owned by the French Lagardère Group – is set to make its Middle East debut with an exclusive residential project on Dubai Islands. Developed by ANAX Developments under a licensing agreement with Lagardère News (an entity of the Lagardère Group), ELLE Residences Dubai Islands will become a new architectural and cultural landmark, said a statement from ANAX Developments.

During the official signing ceremony, Satish Sanpal, Chairman of ANAX Holding, and François Coruzzi, CEO of ELLE International Licenses/Lagardère Group, announced a partnership to launch ELLE’s inaugural branded residential project in the UAE.

The project will be designed by The One Atelier, while co-creative direction will be led by ARQUINAUT, the international design studio that conceived the original ELLE Residences concept. ARQUINAUT will oversee both architecture and interiors. Their collaborative design approach will integrate ELLE’s global aesthetic with local inspiration, crafting a unique residential narrative, the statement explained.

ANAX brings local market expertise, a proven track record in luxury development, and a shared commitment to innovation and quality. The collaboration ensures that ELLE’s first branded residence in the Middle East is anchored by a partner who understands the cultural nuances and high expectations of the region’s discerning buyers. Together they will deliver a project that upholds ELLE’s global standards of style and sophistication, while resonating authentically within Dubai’s fast-evolving luxury lifestyle ecosystem, it added.

“We’re thrilled to bring ELLE’s iconic lifestyle to Dubai through our partnership for ELLE Residences on Dubai Islands,” said Sanpal. “Dubai, a city synonymous with innovation, design, and global appeal, is the perfect setting for this bold new venture. This project will be a defining expression of purposeful, joyful living that reflects the essence of ELLE.”

Constance Benqué, CEO of ELLE International and Lagardère News added, “ELLE’s legacy of innovation continues to define our journey, and with this next chapter, we’re proud to bring the brand’s style to Middle Eastern living for the first time in dynamic Dubai, one of the growing premier markets for branded residences. We’re excited to unveil ELLE Residences Dubai Islands in collaboration with our esteemed partners. Blending timeless French flair with Dubai’s bold energy, this second project marks a dynamic evolution, an immersive concept that invites residents to experience a unique and elevated place to call home. It reflects the forward-thinking lens of ELLE and delivers a refined lifestyle infused with joie de vivre.”

“With ELLE Residences Dubai Islands, we are working closely with the brand to craft a concept that channels ELLE’s Parisian sensibility through the lens of Dubai’s dynamic lifestyle,” commented Michele Galli, CEO of The One Atelier. “This is a rare opportunity to create a project that resonates emotionally and culturally with a global audience.”

Residents can expect curated interiors, exceptional wellness facilities, social and dining spaces, and a blend of fashion and functional design. Nestled on the Dubai Islands, this project offers prime beachfront access, cultural and retail hubs, and views of Dubai’s skyline. ELLE Residences Dubai Islands stands as the latest iteration of ELLE’s expanding lifestyle portfolio. More details, including sales timelines and unit configurations, will be unveiled in the coming months.

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Source: MEConstructionNews

Emirates Stallions Group (ESG) has announced the establishment of Royal Development Holding (RDH). The boutique real estate developer envisions transforming spaces and elevating lives.

In its launch phase RDH merges a group of specialised real estate development entities, including Royal Development Company (RDC) and Royal Architect Project Management (RAPM). The move paves the way for the introduction of new companies, further enhancing its market presence and capabilities.

Royal Development Company’s 15 years of experience mark the beginning of a new era for the group with the launch of RDH. The expansion allows RDH to enhance its presence in the real estate industry by acquiring boutique real estate development capabilities. By integrating ESG, Royal Development Holding offers comprehensive, end-to-end solutions that elevate living experiences and support its long-term growth strategy.

Tariq Nazzal, General Manager of Royal Development Holding commented, “At Royal Development Holding, we continuously enhance our performance and expand our activities by listing several of the Group’s real estate development and project management companies under Royal Development Holding. This is in line with our vision of constant growth and transformation. By integrating innovation, sustainability, and creative design, we will be crafting truly transformational projects that redefine modern living and elevate lifestyles.”

Kayed Ali Khorma, CEO of ESG added, “Our subsidiary Royal Development Company has been the trusted force behind managing over 60 iconic projects in more than 15 countries across the globe enriching our expertise in the real estate sector. We are now evolving the Royal Development name and scope of work by launching Royal Development Holding, a visionary boutique developer that will build lifestyle-driven communities to nurture growth, transform the everyday experience, and shape the future of living.”

In today’s competitive real estate market, developers are striving to create integrated, intelligent, and inspiring communities that adapt to society’s evolving needs. RDH emerges as a forward-thinking boutique developer, demonstrating a strong commitment to shaping ecosystems that combine functionality, well-being, and sustainability. Their developments will contribute to the future of intelligent and connected living.

The post Emirates Stallions Group establishes Royal Development Holding appeared first on Middle East Construction News.

Source: MEConstructionNews

Cox and AMEA Power have collaborated to establish a joint venture (JV) that aims to develop, execute, and manage strategic water and energy infrastructure projects across the Middle East, Africa, and Asia.

The partnership is built on the existing relationship between Cox and AMEA Power. As an anchor shareholder, AMEA Power holds a 3.76% stake in Cox, acquired during Cox’s initial public offering. This long-term investment serves as strategic support for Cox’s growth and development plans.

Enrique Riquelme, Executive Chairman of Cox said, “This JV represents a critical step in Cox’s growth strategy, emerging from an integrated vision that combines water and energy solutions to tackle the most pressing challenges and meet the demands of markets in the Middle East and Africa. Through this partnership, we aim to develop projects where access to water and energy complement each other, creating new opportunities where both are essential for the sustainable development of communities.”

Hussain Al Nowais, Chairman of AMEA Power added, “We are proud to partner with Cox in establishing this JV, a strategic alliance that brings together AMEA Power’s expertise in renewable energy and Cox’s leadership in water solutions. This partnership underscores our shared commitment to sustainable development and improving access to essential resources across Africa, the Middle East and Asia. It also reflects our continued support for Cox’s growth and sustainability initiatives in these key regions.”

The JV brings together Cox’s experience and global market positioning with AMEA Power’s leadership in the energy sector, forming an alliance to develop integrated infrastructure projects, where water and energy access are deeply intertwined. By combining their technical, operational, and financial capabilities, both companies aim to address critical resource challenges in regions experiencing rapid demand growth.

The post Cox and AMEA Power form JV to develop infrastructure projects appeared first on Middle East Construction News.

Source: MEConstructionNews

Vincitore Realty has awarded a US $544.5mn contract to Luxridge Building Construction. The partnership marks Vincitore Realty’s commitment to collaborating with trusted, quality-driven contractors to ensure precise execution throughout the development process, said a statement from the firm.

By selecting Luxridge, a company renowned for its delivery standards, Vincitore Realty aims to bolster buyer confidence ahead of a series of highly anticipated launches, it added.

V”incitore Realty is committed to crafting more than just architectural icons; we’re building trust, value, and enduring legacies. This partnership with Luxridge represents our unwavering commitment to executional excellence. Together, we are shaping the future of luxury living in Dubai landmarks that will inspire generations and stand the test of time,” said Vijay Doshi, Founder & Chairman of Vincitore Realty.

Luxridge, known for its performance, brings a wealth of deep regional knowledge and a crafted engineering model tailored to Dubai’s dynamic urban landscape. Their proprietary CORE Quality Framework ensures that global standards are consistently met throughout the entire development process, from planning to final handover, supporting Vincitore’s vision of creating lifestyle-driven developments, Vincitore Realty explained.

Pankaj Sharma, COO at Luxridge Building Construction commented, “This partnership reflects the trust we’ve earned through precision, accountability, and unwavering quality. Backed by proven processes and a committed team, we are proud to be awarded these landmark projects and are looking forward to delivering them with the highest standards, reinforcing Dubai’s global reputation for excellence.”

While the contract further solidifies Luxridge’s reputation as a reliable construction partner for high-end projects, it also signifies a growing trend among developers to prioritise reliability and transparency over sheer volume. This collaboration reinforces Dubai’s status as a capital of design-led, investor-resilient real estate, where thoughtful partnerships not only yield economic value but also contribute to architectural distinction.

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Source: MEConstructionNews

Lifesize Plans Dubai is offering a service integrating virtual reality & augmented reality experiences that enables UAE residents to toggle between finishes, floor plan variations, and alterations before a structure is built. The solution is said to mitigate risk for buyers and provides a core client-centred service for developers and sellers. The firm says it offers immersive, full-scale architectural visualisation that redefines the pre-construction experience.

The UAE’s construction sector has experienced a steady rise in recent years due to several factors, including substantial government investments, economic diversification, and an increasing population. These factors have had a profound positive impact on the country’s real estate sector, the firm said. According to market intelligence and advisory firm Mordor Intelligence, the construction market size is projected to grow at a compound annual growth rate of 4.26% by 2030. This growth is expected to contribute significantly to the real estate sector as numerous developments are currently in the pipeline, with the aim of being completed by then.

The construction sector’s growth is also fueled by various additional factors, particularly in infrastructure development, transportation and renewable energy. These developments will increasingly require the support of innovative technologies to provide the best possible products to their customers. Dubai’s proptech market, which aims to double its sector value by 2030, has been a major contributor to this surge. Through its technology, the market has introduced a new dimension to the sector from both a technical and design perspective.

Georges Calas, CEO of Lifesize Plans Dubai said, “Witnessing the constant growth of the UAE’s real estate sector and strong influx of investors coming in from all around the world, it was an easy decision for us to enter the market in 2023. As the sector continues to flourish, it becomes increasingly crucial to focus on the attention to detail for every square meter that it is being constructed not just from a design perspective, but to also help identify any potential problem before work even starts on the project.”

“As the overall supply of both residential and commercial developments continues to increase, the proptech sector in parallel also becomes more of a necessity as opposed to a luxury when it comes to investors looking to buy their dream home and will soon become an essential tool for developers to incorporate in the years to come,” he added.

As the UAE remains a global destination for investors and tourists, its construction and real estate sectors continue to be its backbone industries, ensuring its continued prosperity. Developers will also increasingly focus on complementary sectors like proptech to provide the best possible infrastructure, design, and quality in the growing real estate market.

The post Lifesize Plans Dubai to complement sector growth through ‘integrated projected technology’ appeared first on Middle East Construction News.

Source: MEConstructionNews

Dubai is rightfully lauded as the polestar of real estate success in the United Arab Emirates (UAE), with 2025 promising yet more growth. Fortunately for the UAE, the same factors that have contributed to Dubai’s record-breaking streak – strong investment incentives, economic stability, a strategically important location and world-class infrastructure – are also fuelling the meteoric rise of Ras Al-Khaimah’s property market.

Our nation’s northernmost emirate has witnessed impressive growth of late, registering more than US $4.8bn in real estate transactions in 2024. In fact, last year saw Ras Al-Khaimah’s villa sales prices grow by as much as 35.6%, villa rental prices increase by up to 28%, and apartment rental prices rise by up to 42.7%, according to data published by Bayut.

As many of you know, DAMAC Properties is investing heavily in Ras Al-Khaimah through Shoreline by DAMAC, a collection of branded beachfront residences ideally situated on Al Marjan Island. As expected, this project has already generated immense interest – a trend that I believe is being amplified by the emirate’s rapidly increasing popularity.

So, why does everyone seem to be getting excited by Ras Al-Khaimah’s property market? Here are my thoughts:

An ambitious tourism vision

Like its neighbours, Ras Al-Khaimah is home to forward-thinking leaders who are committed to driving our nation towards economic prosperity through strategic policies and initiatives. With the aim of promoting growth across three key pillars – economy, society and environment – RAK Vision 2030 astutely recognises tourism as the cornerstone of sustainable economic development.

Last year, the emirate welcomed a record-breaking 1.28mn overnight arrivals, representing an extremely healthy 12% increase in tourism revenue. If this pace is maintained, the Ras Al-Khaimah Tourism Development Authority (RAKTDA) should be right on track to meet its Tourism Vision 2030 goals: to attract more than three million tourists annually, raise tourism’s contribution to one-third of GDP and create more than 20,000 jobs by 2030.

As it stands, the hospitality sector contributes 4% of the emirate’s GDP, while real estate accounts for 7% – proportions that are only likely to expand due to a growing project pipeline. The number of hotel rooms in Ras Al-Khaimah, for example, is set to double to 14,000 by 2027, and in a unique move for our region’s hospitality industry, seven leading global hotel companies recently pledged to support the government’s vision for tourism development.

In addition to creating opportunities for hotels and short-term lets, an increase in tourism, coupled with the business and employment opportunities it brings, will drive demand for long-term rentals and off-plan sales, including branded residences.

Natural and cultural treasures

The natural beauty and 7,000-year history of Ras Al-Khaimah are undoubtedly key selling points for its burgeoning tourism industry, and they also represent a drawcard for homebuyers looking to enjoy a relaxed and enriching lifestyle. Meanwhile, those searching for adventure will find it right on their doorstep. The emirate is home to the trekking trails of the Hajar Mountains, lush mangrove ecosystems that offer world-class paddleboarding and kayaking, and Jais Flight, the world’s longest zipline at 2.38km.

Nature lovers will enjoy residing among greater flamingos and the countless other endemic species that populate the coastline, mountains and forests, while cultural history enthusiasts will appreciate the emirate’s pearl fishing heritage and archaeological gems like Dhayah Fort and Al Jazeera Al Hamra.

Besides these attractions, Ras Al-Khaimah is within easy reach of Dubai. The pristine waterfront, breathtaking views and sophisticated leisure developments of Al Marjan Island are only 45-minutes from Dubai, making it ideal as a base for commuters or anyone looking to purchase a holiday home.

Impressive investment opportunities

From a property investor’s point of view, Ras Al-Khaimah’s appeal lies in its tax incentives, relatively untapped potential and the prospect of high returns. For example, average rental yields in the emirate currently stand at 6-8%, compared to a UAE average of 4.87%. Property prices have also been increasing over the past year, delivering impressive internal rates of return.

Even so, the emirate still offers tremendous value for money for property buyers. And when one considers the diversity of Ras Al-Khaimah’s real estate landscape, combined with ongoing infrastructure projects and its thriving leisure and entertainment scene, it’s easy to see why interest is growing so quickly. Shoreline by DAMAC, which features units crafted in collaboration with Babolex, and other luxury offerings are providing yet more opportunities for buyers keen to secure a foothold in the emirate.

Thanks to its winning combination of strategic government initiatives, unique natural and cultural heritage, and attractive investment opportunities, Ras Al-Khaimah’s real estate sector is moving from strength to strength. I and many other UAE property professionals have been aware of the emirate’s untapped potential for many years, so I’m not surprised the rest of the world is starting to take notice.

The post Why is everyone so excited about Ras Al-Khaimah’s property market? appeared first on Middle East Construction News.

Source: MEConstructionNews

The UAE and China unveiled the Qingdao Overseas Integrated Service Centre at the China-Arab Business Forum held in Qingdao. This initiative aims to boost the US $400bn trade between China and the Arab world. During the Forum, a total of 40 projects were signed, with a combined value of $5.93bn. These projects span across various industries, including high-end equipment, new energy and materials, and next-generation information technology.

This service centre, established by the SepcoIII Electric Power Construction and Hisense Group, aims to serve as a new bridge for China-Arab economic and trade cooperation. By leveraging the long-standing presence and influence of these two companies in the UAE and other Middle Eastern countries, the centre seeks to better support the overseas development of enterprises. Trade between China and Arab countries has history back over 2,000 years, and China has been an important trading destination for the Arab world since the Islamic caliphate, and later through the Silk Route that connected China with the Arab world, said a statement.

Saudi Arabia and China are said to be crucial trading partners, with a combined bilateral trade volume of $107.53bn in 2024. In contrast, trade between China and the UAE reached $101.838bn, a 7.2% increase year-on-year. Despite global economic fluctuations, these figures demonstrate the resilience of trade. Experts believe that China’s engagement with Arab states is a strategic move to diversify partnerships and reduce reliance on any single power, particularly the United States.

Chinese companies are increasingly involved in various sectors of Arab countries, including energy, infrastructure, manufacturing, and new energy. They are actively participating in infrastructure projects such as ports and industrial zones, contributing to the development of trade hubs in the region. Notably, the launch of the QOISC coincides with an increase in two-way trade between China and Arab countries, surpassing $400bn in 2024, as reported by the London-based International Finance magazine.

This growth represents an increase from $36.7bn in 2004. According to the UAE Ministry of Economy, over 15,500 Chinese companies have invested more than $6bn in the UAE. The QOISC, organised by the Qingdao Municipal People’s Government and China India Middle East and North Africa (Chimena) Business Council, was co-hosted by the Ministry of Commerce of the People’s Republic of China and the Shandong Provincial Department of Commerce.

Abdulla Albasha Alnoaimi, UAE Commercial Attaché to China and Zeng Zanrong, Secretary of the Qingdao Municipal Party Committee of the Chinese Communist Party, unveiled the QOISC at the Forum. Held under the theme ‘Innovation-Driven, Mutually Beneficial: Promoting China-Arab Economic and Trade Cooperation to New Heights’, the China-Arab Business Forum drew 465 multinational companies, including 135 Fortune Global 500 companies and 330 industry-leading enterprises from 43 countries across the globe.

Mohammed Saqib, Secretary General of Chimena Business Council said, “The launch of the service centre is a significant move that will play a significant role in accelerating the $400bn trade between the two growing economic blocks. The QOISC combines the strength of the public and private sector to push for greater economic co-operation that will bring not only the businesses, but also the peoples of these regions closer through trade, tourism and cultural cooperation. It will actively engage in activities such as overseas industrial parks, international exhibitions, and procurement resource matching, linking business opportunities, optimising resources, and fostering coordinated development. This will further contribute to deepening trade and investment partnerships and to jointly building the Belt and Road Initiative.”

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Source: MEConstructionNews

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