Red Sea Int’l Airport Takes off with Contract Award to Nesma & Partners, Almabani

The contract has been awarded to support the creation of a sustainable gateway which will open up Saudi Arabia to the world.
The contract has been awarded to support the creation of a sustainable gateway which will open up Saudi Arabia to the world.
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Red Sea Int’l Airport Takes off with Contract Award to Nesma & Partners, Almabani

The contract has been awarded to support the creation of a sustainable gateway which will open up Saudi Arabia to the world.
The contract has been awarded to support the creation of a sustainable gateway which will open up Saudi Arabia to the world.

The Red Sea Development Company (TRSDC), the developer behind one of the world's most ambitious tourism initiatives, has awarded its largest value contract to date for airside infrastructure works for the destination’s international airport, set to open in 2022.

The contract was awarded following a competitive tendering process to a joint venture between leading Saudi contractors Nesma & Partners Contracting Co. Ltd and Almabani General Contractors, both of whom have a strong track record for delivering similar projects in the region.

“The Red Sea Development Company is making huge progress in the development of a world leading destination and by awarding our largest contract to date, we take another significant step in this direction, while demonstrating our ongoing commitment to creating opportunities within the Saudi Arabian construction sector,” said John Pagano, CEO of The Red Sea Development Company.

“Turning our vision into reality will require us to work with organizations that share our values and our uncompromising commitment in enhancing the environment. This was a key consideration when appointing Nesma & Partners Contracting Co. Ltd and Almabani General Contractors. Both our partners have impressive expertise in delivering airside infrastructure, coupled with both local and international experience.”

The contract covers the essential construction of airside infrastructure works, including the design and building of a Code F Runway 3,700 meters, Code B Seaplane Runway, Parallel and Link taxiways and pavement works, Aeronautical Navigational Aids, Aerodrome Ground Lighting, Airside utilities, helipads, roads and associated buildings.

“This award marks the start of our exciting partnership with The Red Sea Development Company, who are on track to deliver a world-class sustainable giga-project in support of Saudi Vision 2030. We are proud to be selected to contribute to the development of the Red Sea International Airport which we believe will play a key role in the transformation of the Kingdom of Saudi Arabia by welcoming up to one million visitors per year to the destination by 2030,” said Rami Alturki, Vice Chairman and Board Member at Nesma & Partners Contracting Co. Ltd.

“As a contracting company, Almabani has a special focus on airport and infrastructure projects, and we are honored to serve The Red Sea Development Company, by utilizing our expertise to deliver an airfield of international quality to our customer. For this project we will mobilize our most experienced airport resources and qualified experts to ensure we meet our customer’s expectation, and we are ready for the challenging delivery period, especially during this tough sanitary crisis currently affecting the entire globe. We are proud to partner with Nesma to become key contributors to a pillar project in the Vision 2030,” said Joseph Daher, CEO at Almabani General Contractors Co.

The design contract for the airport was awarded to Foster + Partners in October 2019. Its architecture is informed by the natural beauty of the surrounding landscape and represents the vision of The Red Sea Project. Land levelling work is already underway to prepare the airport for development and the project remains on schedule to support TRSDC plans to welcome the first guests to the destination by the end of 2022.

The schematic design stage NOC was received from the General Authority of Civil Aviation (GACA) earlier this year. The location of Red Sea International Airport was accepted along with its airside master plan, and its orientation of 15/33, was approved. Additionally, GACA approved the conceptual airspace and aeronautical studies that draw the approach path for flights bound for the airport, domestically and internationally.

In line with the company’s sustainability goals, the entire infrastructure of The Red Sea Project, including its transport network, will be powered by 100% renewable energy. The eco-friendly airport design focuses on using shaded areas and natural ventilation to minimize the reliance on air conditioning.

Once complete, the airport will serve an estimated one million tourists per year catering to both domestic and international flights. Envisaged as a unique and iconic airport, it will provide an unforgettable aviation experience for travelers and guests. In addition to the dedicated airport, the first phase of the development includes 16 hotels offering 3,000 hotel rooms across five islands and two inland sites, as well as commercial, retail and leisure facilities and other infrastructure.



Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
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Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah Inspires the World.”

The platform, organized by the Holy Makkah Municipality, will feature 15 exceptional Ramadan evenings focused on dialogue, knowledge exchange, and cross-sector engagement.

Makkah Mayor Musad Aldaood said the platform redefines development from Makkah, where faith meets inspiration and values are transformed into a comprehensive civilizational experience.

He noted that the initiative reflects the ambitions of Saudi Vision 2030 and showcases Makkah to the world as a living model of creativity, leadership, and innovation.

The upcoming edition will host more than 65 speakers, including executive leaders and decision-makers from across all three sectors, alongside futurists, entrepreneurs, and leading voices in culture and inspiration from artists, writers, media professionals, and innovators.

The program targets 12 key sectors: technology and digital transformation, financial investment, communications and media, real estate development, transport and logistics, banking services, youth and sports, tourism and culture, hospitality and catering, Hajj and Umrah, the third sector, and healthcare.


Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
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Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it as an authorized foreign investor to operate maritime agencies in the Kingdom's ports, reported the Saudi Press Agency.

The license is issued in accordance with the regulations outlined in the Maritime Agency Services, reflecting Mawani's commitment to boosting the efficiency of the maritime sector and improving the quality of operational services provided at ports.

It aims to attract global expertise and facilitate knowledge transfer within the Kingdom, aligning with international best practices in the maritime transport industry.

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector.

PIL, which operates from its regional headquarters in Riyadh, manages operations in 29 countries.

The move strengthens the Kingdom's position as a crucial logistics hub, in line with the National Transport and Logistics Strategy, while attracting more international shipping lines. It reinforces Saudi Arabia's role as a key link among three continents.


IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
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IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo

Lebanon's economy has shown resilience despite conflicts in the region, with tourism fueling a bit of a rebound, but restoring growth will require comprehensive reforms, the International Monetary Fund said on Thursday.

IMF spokeswoman Julie Kozack said the global lender remains engaged in complex discussions with Lebanese ‌authorities following their ‌request for an IMF-supported ‌program ⁠in March 2025. The ⁠IMF sent a staff mission to Beirut earlier this month, said Reuters.

The talks have been focused on two big issues, she said, citing the need for banking sector restructuring and a medium-term fiscal ⁠strategy. "The economy has shown resilience ‌despite the impact ‌of conflicts in the region. It has had ‌a bit of a rebound ‌on the back of tourism from the strong diaspora," Kozack said.

"But at the same time, really restoring strong and sustainable growth will ‌require a comprehensive set of reforms to tackle some of the ⁠structural ⁠weaknesses that have really hampered Lebanon's economic performance for many years," she said. Reforms also are needed to attract international support to help Lebanon address its substantial reconstruction needs.

Kozack said Lebanon needs an updated medium-term fiscal framework that includes concrete measures to mobilize additional revenues for much-needed capital spending, as well as a sovereign debt restructuring to restore debt sustainability.