REAL ESTATE-

Trump Tower Jeddah is on the way: Dar Global, the Dubai-based international arm of Saudi real estate developer Dar Al Arkan, awarded Jeddah-based SpecializedItalian Foundation Company the site preparation contract for Trump Tower Jeddah, Zawya reports. Dar Global and the Trump Organization announced the USD 513 mn (SAR 2 bn) project in December, along with a golf property in Riyadh.

What we know about the Jeddah tower: The Jeddah tower will feature 350 residential units, with construction to be wrapped by December 2029, according to Dar Global’s website.

LOGISTICS-

Mawani adds five new shipping services to three ports: The Saudi Ports Authority (Mawani) added five shipping services from Hapag-Lloyd and Maersk to the Jeddah Islamic Port, King Abdulaziz Port in Dammam, and Jubail Commercial Port, it said in a statement. The new routes have a 19.9k standard container capacity and will link the Saudi ports to major global hubs in Egypt, Morocco, Spain, Jordan, the UAE, India, and Oman.

Background: Hapag-Lloyd and Maersk entered into a long-term operational collaboration to establish a maritime network with a schedule reliability of more than 90%, dubbing it the Gemini Cooperation. Officially launched this month, the network will operate across seven trades using some 290 vessels with a total capacity of 3.4 mn containers.

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