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Egypt approves freezone for Fujairah Alamein oil and gas company
Egypt’s cabinet approved a special freezone for Fujairah Alamein Oil and Gas Company on its north coast. The 737.9k-sqm zone will store and trade crude oil and petroleum products in New Alamein City, close to the Al Hamra Port expansion zone. All products from the zone will be exported.
REMEMBER- Fujairah is partnering with Wepco on a USD 457 mn expansion of Al Hamra Port, set to double crude storage to 5.3 mn barrels from 2.5 mn and add a 130k-ton petroleum-products complex. It’s also eyeing more storage in Egypt on the Red Sea, with Fujairah International Oil and Gas Corporation in talks with the Egyptian General Petroleum Corporation (EGPC) to lease crude and petroleum-product storage on the Red Sea coast.
DP World expands footprint in Southeast Asia
Logistics giant DP World opened a new warehouse in Malaysia as it expands its contract logistics operations across Southeast Asia, according to a press release. The 11.5k-sqm facility in Johor is the first of two, with a warehouse slated to open in Kuala Lumpur later this year.
More to come: The operator is also looking to launch similar projects in Thailand and the Philippines this year. Its current footprint in the Asia Pacific region includes 16 ports and terminals.
L&T tapped for DWC upgrades
L&T tapped for people mover project at DWC: Indian EPC giant Larsen & Toubro (L&T) bagged an order worth up to INR 50 bn (USD 522.9 mn) for a project at Dubai’s Al Maktoum International Airport (DWC), according to an exchange filing (pdf). L&T will work in a consortium with Japan’s Mitsubishi Heavy Industries to design and build an Automated People Mover (APM) system for Phase 1 of DWC.
Another piece of Dubai’s mega build-out: The award comes as Dubai accelerates contracts for what is planned to become the world’s largest airport — targeting a capacity of 260 mn passengers. More than AED 55 bn in airport contracts are expected to be awarded by the end of 2026, with the first phase of commercial operations targeted for 2032. Just a few days ago, the Roads and Transport Authority shortlisted six bidders for the design and construction of an Airport Express Line connecting Dubai International Airport (DXB) with DWC.
Arada takes Australia expansion to Queensland
Sharjah-based developer Arada is launching an AED 5 bn twin-tower residential project on Australia’s Gold Coast, marking its first move outside New South Wales and its largest investment in the country to date, according to a press release. The Broadbeach development will include 952 homes and around 1.2k sqm of retail and hospitality space.
The developer is rapidly scaling its Australian footprint. Since entering the market in 2024, Arada has built a pipeline of eight projects and more than 5k homes, and acquired tier-one contractor Roberts Co last year. Roberts Co will build the Broadbeach project, which is scheduled for completion ahead of the 2032 Olympic and Paralympic Games.
