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Related Construction Industry News

• December 2023: Leading renewable energy provider Scatec ASA closed the first 60 MW of the Mmadinare 120 MW Solar Complex and announced that it was on track for the start of construction of the first utility-scale solar project in Botswana.
• November 2023: Teraco, South Africa’s largest data center provider, completed an expansion of its Durban facility, bringing the total area of space to 5,800 sq. m (62,430 sq. ft). Teraco’s Durban facility opened in 2011, providing 1 MW across 600 sq. m (6,460 sq. ft). In 2018, another expansion was announced, adding 1,000 sq. m (10,765 sq. ft) of white space to the site, bringing the total space to 2,000 sq. m (21,530 sq. ft).

• November 2023: The Western Australian government announced the construction of over 200 modular homes as part of its commitment of AUD 2.4 billion to address homelessness in the state. Similarly, the Victorian government unveiled a plan the previous year, allocating AUD 30.38 million to build 114 energy-efficient prefabricated modular homes for individuals experiencing homelessness or facing the risk of it. The increasing adoption of modular housing is expected to lead to cost reductions in construction as manufacturing scales up and efficiencies are achieved.
• August 2023: Modscape participated in QBuild’s Modern Methods of Construction (MMC) Housing Program to address the immediate housing needs in Queensland. This initiative was aimed at providing affordable and sustainable housing to Queenslanders, from essential government workers to those struggling with homelessness. The Queensland government’s commitment to addressing the housing crisis in the state led to the prototyping of the QBuild MMC Housing Program. This program aims to build approximately 100 essential worker homes across regional Queensland using modern methods of construction (MMC). The program is expected to provide valuable insights into how MMC can be used to deliver affordable and sustainable housing.

• September 2023: Mighty Buildings, a start-up building tech for prefabricated, ostensibly environmentally-friendly homes, raised USD 52 million in a funding round co-led by Waed Ventures and Bold Capital with participation by Khosla Ventures. The company plans to use it for the Mighty Buildings’ expansion in North America and the Middle East, particularly Saudi Arabia, and support the launch of its next-gen modular home building kit.
• April 2023: The Kirby Building Systems’ project involving prefabricated buildings in Saudi Arabia included the 10,000 sq. m Al Naqel Express Warehouse. The ARAMCO Project involved the construction of a number of prefabricated buildings for the Saudi Arabian Oil Company, including warehouses. These are expected to be completed by 2024.

• September 2023: Mighty Buildings, a start-up building tech for prefabricated, ostensibly environmentally-friendly homes, raised USD 52 million in a funding round co-led by Waed Ventures and Bold Capital with participation by Khosla Ventures. The company plans to use it for the Mighty Buildings’ expansion in North America and the Middle East, particularly Saudi Arabia, and support the launch of its next-gen modular home building kit.
• April 2023: The Kirby Building Systems’ project involving prefabricated buildings in Saudi Arabia included the 10,000 sq. m Al Naqel Express Warehouse. The ARAMCO Project involved the construction of a number of prefabricated buildings for the Saudi Arabian Oil Company, including warehouses. These are expected to be completed by 2024.

• August 2023: McAleer and Rushe announced that they had begun constructing the last phase of Southbank Place in London. The GBP 138 million (USD 174.34 million) Southbank Place Building 5 development is situated 100 m from the London Eye. This development is part of the master plan for the Shell Tower in London's South Bank.
• March 2023: The UK Department of Transport announced over GBP 40 billion (USD 50.54 billion) of capital investment in transport across the next two financial years, which will drive significant improvements for rail and roads across the market.

• February 2024: Tata Steel, a prominent private steel firm, unveiled its partnership with South Eastern Railway (SER). The collaboration aims to foster sustainable rail infrastructure by leveraging slag-based aggregates.
• January 2024: Highway Infrastructure Trust (HIT) finalized deals with PNC Infratech Ltd and PNC Infra Holdings Ltd, acquiring 12 road projects at an enterprise value of INR 90.06 billion (USD 1.08 billion). This portfolio includes 11 Hybrid Annuity (HAM) concessions from the National Highways Authority of India (NHAI) and 1 toll road concession from the Uttar Pradesh State Highways Authority (UPSHA). Spanning across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka, these projects encompass approximately 3,800 lane kilometers, as stated by HIT.

October 2023: Lendlease and Daiwa House announced a new joint venture marking the start of construction. Lendlease, a global real estate group headquartered in Sydney, will develop and construct the new homes, which have an end value of circa GBP 250 million, and retain a 25% interest in the project, which will be the final stage of residential development at Elephant Park.

July 2023: Mastry Ventures and LENx, the venture subsidiary of Lennar, co-invested in Vessel Technologies' next-generation housing product. The Vessel System housing system will focus on reimagining apartment buildings as a consumer product by making them attractive, sustainable, and user-centered at affordable prices. It will achieve results by prefabricating wall and ceiling components in the Vessel's factory, which would cut costs and time as opposed to conventional construction methods.

• October 2023: Gamuda Bhd entered into a joint-venture agreement with Sabah Energy Corp Sdn Bhd (SEC) and Kerjaya Kagum Hitech JV Sdn Bhd (KKHJV) to undertake a private finance initiative for the development of the MYR 4 billion (USD 0.86 billion) 187.5 MW hydroelectric power plant in Tenom, Sabah.
• July 2023: IJM formed a partnership with FMM Elmina Sdn Bhd to develop two logistics hubs on a 22-acre site in the City of Elmina, Shah Alam, marking its maiden industrial property development in the Klang Valley.

• August 2023: The leading Kuwaiti developer Mabanee awarded a construction contract worth SAR 3.66 billion (USD 985 million) to a joint venture of Saudi group AlKifah Contracting Company and Kuwait-based Al Ahmadiah Contracting for Phase One of its premium mixed-use project in Saudi Arabia.
• April 2023: The Public Authority for Housing Welfare (PAHW) in Kuwait granted a USD 367 million contract to Kuwait Arab Contractors for infrastructure services related to the South Sabah Al Ahmad City project. The contract encompasses the construction, finalization, and maintenance of main road networks within the South Sabah Al Ahmad City area, along with the provision of infrastructure services and the installation of rainwater tanks. According to the report, the entire project is slated for completion within the next three years.

November 2023: Dubai-based developer Wasl granted a construction contract worth AED 1.2 billion (USD 1.4 billion) to China State Construction Engineering Corp., a Beijing-based company, to construct The Island, a 26-acre development that is expected to be the first in the region to allow legal gaming. A total of 1,400 hotel rooms are planned for the development.

September 2023: Hassan Allam Holding, one of Egypt's leading construction companies, announced its expansion into the United Arab Emirates on the occasion of 'Building Boundless Horizons: From Egypt to the UAE'.

August 2023: ADNOC Gas, the world's leading integrated gas processing company, announced that it was awarded a contract for AED 13.1 billion (USD 3.6 billion). This contract will enable ADNOC Gas to extend its gas processing facilities in the United Arab Emirates by commissioning new facilities and providing an optimal supply to the RUWAIS Industrial Complex.