Emaar awards KAEC infrastructure mandate to Nesma and Partners

Emaar picks Nesma for KAEC infrastructure build-out

Emaar awards KAEC infrastructure contract: Emaar Economic City has awarded Nesma and Partners Contracting a SAR 547.3 mn contract for infrastructure works in the Industrial Valley and Special Economic Zone at King Abdullah Economic City, including phase one of the King Salman Automotive Cluster, it said in a Tadawul filing.

Preparing KAEC for foreign buyers? The award bolsters KAEC’s infrastructure ahead of expected demand from foreign investors following the Foreign Property Ownership Law. Emaar CEO Abdulaziz Alnowaiser said in January that KAEC is “especially well suited” for non-Saudi ownership given its location outside tightly restricted urban zones and its proximity to holy sites. The company is preparing international marketing campaigns to attract foreign buyers.

Metafare bags USD 1 mn

Digital health startup Metafare secured USD 1 mn in its first funding round, according to a press release. The round was backed by Harmonics Ventures and a group of family offices. The company plans to gradually enter wider GCC markets as demand for tech-enabled preventive healthcare solutions grows.

About the company: Founded in 2025, the platform uses virtual reality and AI to deliver remote healthcare sessions focused on physical fitness and mental well-being.

SAR 2.4 bn infrastructure development project awarded

Ladun + Al Ayuni tapped for Riyadh infrastructure development: The Royal Commission for Riyadh City has awarded a consortium of Ladun Investment and Al Ayuni Investment and Contracting two contracts worth around SAR 2.4 bn to develop infrastructure for the first phase of the Real Estate Balance Program, according to two disclosures to Tadawul.

What’s in store? The contracts involve the development of three areas in Riyadh, with the consortium handling master planning, designs, and full infrastructure.