< Previous20 FEBRUARY 2025 PROJECTS Saudi Entertainment Venture (SEVEN) has launched its latest entertainment destination in the Jazan region with an investment of $347 million (SAR1.3 billion). The project will cover over 60,000 square metres of land with 73,000 square metres of built-up space and will be adjacent to the North Corniche Park along the Jazan waterfront. Gracing Jeddah’s Corniche, Dar Global’s 47-fl oor tower will stand as one of the city’s tallest residential towers, introducing a new level of opulence and exclusivity to the kingdom. Strategically located near other iconic landmarks, Trump Tower Jeddah will feature the kingdom’s fi rst-ever members-only social club. It will also include premium fi nishes and other world-class facilities. TRUMP TOWER JEDDAH PROJECT Construction Week Middle East unveils the most anticipated, innovative, and creative project launches, ranging from ultra-luxury residential developments to entertainment destinations JAZAN ENTERTAINMENT DESTINATION CW_Feb2025_20-21_Project Launch_13497790.indd 20CW_Feb2025_20-21_Project Launch_13497790.indd 2003/02/2025 13:0203/02/2025 13:02FEBRUARY 2025 21 PROJECTS LAUNCH Nakheel’s latest project, Bay Grove Residences comprises a curated selection of one, two, and three-bedroom apartments and spacious four-bedroom duplexes. Each residence overlooks a podium garden with serene pathways and shaded seating areas, while a raised ocean pool provides a sanctuary for relaxation. Each unit will feature elegant interiors and private terraces. Located in JVC, 105 Residences marks Kamdar Property Development’s fi rst project open to public investors, signifying its strategic move to expand its footprint across the UAE. Designed by award- winning architects, the development will feature 105 units comprising studio, one-bedroom, and two-bedroom apartments. Each residence combines modern aesthetics with functionality. BAY GROVE RESIDENCES 105 RESIDENCES BY KAMDAR CW_Feb2025_20-21_Project Launch_13497790.indd 21CW_Feb2025_20-21_Project Launch_13497790.indd 2103/02/2025 13:0203/02/2025 13:0222 FEBRUARY 2025 NEWS The long-awaited construction of Jeddah Tower, set to become the world’s tallest building at over 1,000 metres, has offi cially resumed, marking a momentous milestone in Saudi Arabia’s architectural and economic ambitions. Kingdom Holding Company (KHC) made the announcement during a high-profi le ceremony in Jeddah, attended by key stakeholders, dignitaries, and infl uential fi gures in the world of construction, signalling a renewed momentum for the iconic project that has long captured the imagination of the kingdom and the global community. The event featured the symbolic pouring of concrete, a powerful representation of the project’s advancement. Notable attendees included Prince Alwaleed bin Talal, Chairman of KHC; Eng Talal bin Ibrahim Al Maiman, CEO of KHC; Sheikh Yaslam bin Laden of Bin Laden Group; Eng Hassan Sharbatly of Qilla Jeddah for Real Estate Investments; and Mohammed Al-Qatari from Abraar International Company Limited. Situated in the heart of Jeddah, the tower is a solitary structure and a cornerstone of the much larger and more ambitious Jeddah Economic City project. This mega-development, which spans multiple sectors, will transform the city’s waterfront and establish it as a beacon of global commerce, innovation, and modernity. Once completed, Jeddah Tower will soar above the 1,000-metre mark. “Today’s ceremony represents the realisation of a vision that has taken years to develop,” said Eng Talal Al Maiman, CEO of Kingdom Holding Company. “Jeddah Tower will serve as a beacon of innovation and a catalyst for growth, showcasing Saudi Arabia’s ambition on the world stage and paving the way for future generations to envision the impossible.” The Jeddah Economic Company, which is the organisation responsible for overseeing the project, has enlisted world-renowned architects Adrian Smith and Gordon Gill Architecture to CONSTRUCTION RESUMES AT JEDDAH TOWER, SET TO SOAR OVER 1000 METRES Jeddah Tower, which will be the world’s tallest structure, will cost nearly SAR100 billion ($26 billion) and will be completed over the next three and half years CW_Feb2025_22-23_News_13507800.indd 22CW_Feb2025_22-23_News_13507800.indd 2203/02/2025 13:0303/02/2025 13:03FEBRUARY 2025 23 NEWS fastenerfairglobal.com Experience the Fastener & Fixing Industry's Leading Global Event REGISTER NOW ih 25 27 MARCH 2025 STUTTGART, GERMANY • Industrial Fasteners and Fixings • Construction Fixings • Assembly and Installation Systems • Fastener Manufacturing Technology • Storage, Distribution, Factory Equipment • Information, Communication and Services The International Exhibition for the Fastener and Fixing Industry welcomes back manufacturers, wholesalers, distributors and suppliers for its 10th edition! Explore innovative products and solutions from global suppliers: design the tower, drawing on their experience with other groundbreaking skyscrapers like the Burj Khalifa in Dubai. Additionally, structural and engineering expertise is being provided by industry leaders Thornton Tomasetti and Langan International, who will bring their vast knowledge and experience to ensure that Jeddah Tower not only meets but exceeds global standards for safety, sustainability, and luxury. Once completed, Jeddah Tower will boast a range of cutting-edge facilities, including luxury residences, premium offi ce spaces, a world-class Four Seasons hotel, and a stunning observation deck off ering unparalleled panoramic views of Jeddah and the Red Sea. The tower will serve as a multifunctional hub, blending high-end living, business, and entertainment under one roof, and is expected to draw millions of visitors annually. As construction progresses, Jeddah Tower stands poised to inspire awe, both as an engineering marvel and as an example of Saudi Arabia’s ambitious vision for the future. The project promises to not only reshape the city’s skyline but also serve as a crucial piece in the kingdom’s broader plans to diversify its economy and elevate its global standing. CW_Feb2025_22-23_News_13507800.indd 23CW_Feb2025_22-23_News_13507800.indd 2303/02/2025 13:0303/02/2025 13:0324 FEBRUARY 2025 OPINION Concurrent delay is considered the most contentious technical subject in forensic delay analysis. The challenges in addressing concurrent delays often lead employers and contractors to take positions that aim to maximise their entitlement, sometimes without fully understanding the broader implications or technical details. The current industry practice is, in several respects, inconsistent, as the parties involved in nearly every delay dispute seem to have diff ering views as to which delays are concurrent and how any such concurrent delays should impact the outcome of the dispute. AACE International’s Recommended Practice No. 29R-03 on Forensic Schedule Analysis and the Society of Construction Law’s Delay and Disruption Protocol both provide guidance on applying the critical path method (CPM) to assess schedule delay. While these protocols off er valuable procedures for delay analysis, their eff ectiveness in addressing concurrent delay challenges remains uncertain. Delay analysts face four key challenges when presenting a concurrent delay analysis. Each of these must be navigated carefully to ensure fair and accurate delay attribution: ADOPTING A GLOBAL VIEW In many cases, delay analysts evaluate concurrency from a global perspective, however, this approach has limitations. A global perspective on concurrency involves examining the entire project timeline to identify and assess concurrent delays, rather than focusing on specifi c time windows or individual delay events. In such analyses, delays are not apportioned, even when they clearly appear to be sequential rather than concurrent. Instead, both parties are deemed jointly responsible for delaying the entire project concurrently, resulting in neither party being awarded delay damages. This often occurs in situations where each party independently caused delays to diff erent activities that collectively extended the project’s completion date. Analysts frequently contend that the delays across the project were so closely linked that they were jointly and concurrently caused by both parties. However, analysts should be aware of limitations to this approach and exercise caution. By simplifying the complexities of delay issues—without examining detailed project records and allocating specifi c delays to individual events—the analysis may not withstand scrutiny in a formal dispute setting. THE PARTY SEEKING TO APPORTION DELAYS FAILS TO MEET ITS BURDEN OF PROOF A second signifi cant challenge arises from the high standard of proof required from a party seeking UNTANGLING CONCURRENT DELAYS: CHALLENGES IN FORENSIC DELAY ANALYSIS Concurrent delays remain a hotly debated topic in forensic delay analysis, with industry inconsistencies and complex challenges often complicating dispute resolutions By Aytug Ozkan, Director, TBH CW_Feb2025_24-25_TBH_13503924.indd 24CW_Feb2025_24-25_TBH_13503924.indd 2403/02/2025 13:0303/02/2025 13:03FEBRUARY 2025 25 OPINION PROSPECTIVE VS RETROSPECTIVE Two commonly used methods for delay analysis are “Retrospective Delay Analysis” and “Prospective Delay Analysis.” The challenge for delay analysts is deciding which approach to choose. Ultimately, the selection between hindsight and blind-sight approaches requires careful consideration of project specifi cs, available documentation, and the intended use of the analysis—especially when the as-built data confl icts with the contemporaneous schedule data used by the parties in managing the work. The hindsight approach involves a retrospective analysis that incorporates actual project events, while the blind-sight approach relies on a prospective analysis, evaluating concurrency based on the anticipated impact of a delay event at the time it occurred. Proponents of the hindsight approach argue that disregarding the most accurate evidence and recreating updates as if the as-built information does not exist serves little purpose. In contrast, blind-sight advocates contend that reconstructing schedule updates to refl ect state of mind of the project parties at the time of the delay is crucial since project decisions were based on the best available information during the project. Ultimately, analysts should always remember that the choice between methodologies can impact the conclusions drawn from the analysis. Analysts must therefore carefully evaluate both the strengths and limitations of each approach and select the one that best aligns with the case’s specifi c circumstances. In doing so, they will enhance the credibility and reliability of their analysis in dispute resolution. Delay analysis is not easy. Regardless of the methodology selected, disputes over concurrency can still arise due to the inherent complexities presented above. The key to a successful outcome lies in an analysts’ awareness and proactive management of these challenges and the ability to tailor their approaches to address, to the extent possible, the concerns with respect to the identifi cation and apportionment of concurrent delays. delay damages (the employer). This can be particularly tricky in complex construction projects where multiple factors may contribute to delays. In many cases, contractor’s delay claims are denied due to concurrent delays. However, the party asserting delay damages (the employer) fails to meet its burden of clearly apportioning concurrent delays. Put simply, employers frequently request contractors to provide a concurrency analysis, placing the burden of proof on contractors. Although this practice may appear routine, it can undermine the employer’s position in a formal dispute setting. ADOPTING A NARROW VIEW OF THE CRITICAL PATH IN RELATION TO CONCURRENCY Whether to adopt the broad or narrow view of concurrency presents a dilemma for some delay analysts. Certain analysts often adopt a narrow view of concurrency and the critical path, failing to account for the broader implications of project delays. This narrow view ignores the impact of delays on near-critical activities and those happening on co-critical or multiple paths at the same time. Such an approach can lead to incomplete and potentially misleading analyses, as it disregards how most delays have the potential of becoming co-critical, once the fl oat on the path it resides in has been consumed. As such, “near-critical” paths must be analysed for delay because these paths have the greatest potential of becoming concurrent delays if they become critical after the relative fl oat against the critical path delay has been consumed. These paths can quickly transition to critical status, impacting project timelines and creating concurrent delay situations. There are several decisions, however, that would seem to indicate an aversion to analysing “near-critical” delays for potential concurrency. This aversion stems from a preference for simplicity in delay analysis or a strict interpretation of critical path concepts. However, reluctance to consider near-critical paths can result in an incomplete understanding of concurrent delays. Delay analysts face four key challenges when presenting a concurrent delay analysis Aytug Ozkan, Director, TBH 10-15% Estimated percentage of MENA construction projects experiencing concurrent delays CW_Feb2025_24-25_TBH_13503924.indd 25CW_Feb2025_24-25_TBH_13503924.indd 2503/02/2025 13:0303/02/2025 13:0326 FEBRUARY 2025 PARTNER CONTENT Dubai’s skyline is a mirror of ambition, but behind every iconic structure lies a story of grit, vision, and calculated risk. For Egor Molchanov, CEO of QUBE Development, the story began with a simple question: how do you create spaces that truly resonate with the people who live in them? In a candid conversation with Construction Week Middle East, Molchanov refl ects on QUBE Development’s journey—from navigating the complexities of entering Dubai’s competitive real estate market to crafting projects like Arisha Terraces, where hydroponic gardens and community hubs redefi ne urban living. What’s the inspiration and vision behind establishing QUBE? Built on a 30-year legacy in real estate, we entered the UAE market in 2024 to redefi ne urban living. Our vision is to create lasting value and prosperity for customers and communities. We develop distinctive spaces that refl ect modern lifestyles and evolving market demands. Quality is at the heart of everything we do, and we ensure that each project meets the highest standards. We prioritise a customer-centric approach, focusing on residents’ needs and aspirations. Innovation drives us forward, setting new benchmarks in design and functionality. Our goal is to create landmarks that serve modern residents and shape Dubai’s urban landscape. What are the USPs that make your projects stand out in the market? Our approach to diff erentiation is rooted in our USP’s in redefi ning functionality and meaningful living experiences. With initiatives like solar panels, a rooftop hydroponic garden, and advanced smart home systems, we create ecosystems that minimise environmental impact while enhancing residents’ quality of life. We collaborate with world-renowned architects to ensure our developments refl ect cutting-edge aesthetics and functionality. 2MN+ FT2 Total GFA of its current portfolio THE QUBE EFFECT: RETHINKING REAL ESTATE IN DUBAI QUBE Development’s Egor Molchanov on crafting spaces that blend innovation, sustainability, and community in Dubai’s competitive real estate market Interview by Julianne Tolentino CW_Feb2025_26-27_Qube_13514281.indd 26CW_Feb2025_26-27_Qube_13514281.indd 2603/02/2025 13:0403/02/2025 13:04FEBRUARY 2025 27 PARTNER CONTENT profoundly and provide lasting value. From our work in international markets, we have learned the importance of cultural sensitivity and designing with a global perspective. In Dubai, where people from around the world reside, it is essential to create spaces that meet expectations and refl ect the diversity of its demographics. What are your long-term goals for the company? How do you plan to achieve them? Our fi rst year at QUBE Development has been a resounding success, marked by the launch of key projects such as Arisha Terraces and Cubix Residences, which have been exceptionally well- received in the market. With a Gross Floor Area (GFA) portfolio of over two million square feet, we have already demonstrated our ability to launch high-quality, innovative developments that cater to modern urban living. Building on this strong foundation, we aim to expand on these initial plans by introducing more projects that align with our vision of creating vibrant, community-centric spaces. Where do you see your company in fi ve years? In the next fi ve years, we aim to solidify our position as one of the UAE’s top 20 real estate developers by delivering a portfolio of landmark projects that redefi ne modern living in Dubai, Ras Al Khaimah, and Abu Dhabi. Our mission is to set the benchmark in the industry by creating a foundation of prosperous generational wealth for customers and communities. By continuing to supply exceptional value to our stakeholders, we envision QUBE Development becoming synonymous with excellence and forward-thinking design in the region’s real estate landscape. Finally, we focus on fostering authentic community experiences. Our developments, such as Arisha Terraces, include thoughtfully curated amenities such as a two-level community centre, cinema lounges, and recreational facilities like padel courts, all designed to encourage interaction and a sense of belonging. How has your journey infl uenced your leadership style and the direction of QUBE Development? A commitment to collaboration, innovation, and excellence has defi ned QUBE Development’s journey. From the very beginning, we have fostered a culture where every voice is heard—whether from our team members, colleagues, or valued partners. We believe that great ideas can come from anywhere, and by embracing diverse perspectives, we shape projects that are not only groundbreaking but deeply attuned to the needs of the communities we serve. Our approach goes beyond building properties; we cultivate leadership across all functions, empowering our people to drive meaningful impact. This philosophy ensures that our developments stand the test of time, delivering lasting value to residents and investors alike while creating opportunities for generational wealth and long-term prosperity. What lessons have you learned from your experiences in other markets that have been crucial to your approach in Dubai? One key lesson has been the importance of adaptability. Every market has unique dynamics; success lies in understanding and responding to them. In Dubai, this means catering to a multicultural audience and addressing the need for community- oriented living. By focusing on creating spaces that refl ect our target audience’s preferences and lifestyles, we’ve developed projects that resonate From the very beginning, we have fostered a culture where every voice is heard” Living room interiors at Arisha Terraces Egor Molchanov, CEO, QUBE Development CW_Feb2025_26-27_Qube_13514281.indd 27CW_Feb2025_26-27_Qube_13514281.indd 2703/02/2025 13:0403/02/2025 13:0428 FEBRUARY 2025 OPINION TOURISM’S TIDES: SHAPING THE UAE’S FUTURE LANDSCAPE Exploring how tourism is transforming the UAE’s economy, real estate, and identity Over the years, the UAE has grown into a global destination known for its luxury and exceptional experiences. Tourism has become more than just an economic driver, it is shaping the nation’s identity in signifi cant ways. The numbers highlight this progress: the UAE leads the region in tourism and ranks 18th globally on the World Economic Forum’s Travel and Tourism Development Index. This ranking refl ects steady advancement, with the index score improving by 4.4% between 2019 and 2024. The continuous infl ux of international visitors reinforces our position as a hub for global connectivity and cultural exchange. DUBAI AND ABU DHABI: LEADING THE WAY IN TOURISM Both Dubai and Abu Dhabi are key players in the UAE’s growing tourism sector, achieving impressive milestones over the years. In 2023, tourism contributed $60 billion (AED220 billion) to the country’s GDP, accounting for 11.7% of the total. This fi gure is expected to increase to $64.3 billion (AED236 billion) in 2024. By 2034, the sector’s contribution is projected to reach $75 billion (AED275.2 billion), thanks to the UAE’s exceptional infrastructure, world-class attractions, and commitment to enhancing visitor experiences. These achievements refl ect the success of the UAE’s eff orts to build a sustainable and forward-thinking tourism industry, backed by modern infrastructure, diverse attractions, and the National Tourism Strategy 2031. The ripple eff ect of this growth extends beyond tourism. Abu Dhabi’s Zayed International Airport saw a 33.8% rise in global travelers during the fi rst half of 2024, accommodating over 13.7 million passengers. At the same time, Dubai hosted 9.31 million international overnight visitors. This rising infl ux of The connection between tourism and real estate is clear in the country’s evolving skyline” By Mohammed Sankari CW_Feb2025_28-29_Tourism and Real Estate_13498241.indd 28CW_Feb2025_28-29_Tourism and Real Estate_13498241.indd 2803/02/2025 13:0503/02/2025 13:05FEBRUARY 2025 29 OPINION residences is unmistakable. These upscale homes, created through partnerships between global hotel brands and developers, off er a blend of world-class hospitality and premium living. With features like concierge services, private pools, and state-of-the-art fi tness centres, these residences provide an elevated lifestyle experience. Positioned near iconic landmarks, they meet the growing demand for exclusivity and convenience, serving as extensions of the UAE’s status as a premier global destination. This synergy between tourism and real estate also opens exciting opportunities for investors. From luxury hotels to holiday homes and mixed-use developments, the UAE off ers attractive prospects for high returns. With tourism integrated into urban planning, these investments are designed to be not only profi table but also sustainable. SHAPING THE FUTURE OF THE UAE As we look ahead, the UAE’s focus on diversifying its economy and enhancing its global standing will only deepen the connection between tourism and real estate. Major events and initiatives, from cultural festivals to groundbreaking infrastructure projects, will continue to attract visitors from around the world, further solidifying the UAE’s status as a global tourism hub. Tourism has been, and will remain, at the top of the UAE’s growth story. It’s not just about numbers or developments; it’s about the transformative power of creating experiences that inspire, connect, and elevate. travelers has created signifi cant opportunities for the real estate sector, including hotels, short-term rentals, and housing. TOURISM’S RIPPLE EFFECT ON REAL ESTATE The UAE’s booming tourism industry is creating ripples of growth across multiple sectors, with real estate feeling one of the biggest impacts. The connection between tourism and real estate is clear in the country’s evolving skyline, fi lled with luxury hotels, short-term rental properties, and mixed-use developments. These immersive spaces refl ect the UAE’s luxury lifestyle and cultural richness. Moreover, branded residences are a perfect example of how tourism is reshaping real estate. With a forecasted global growth of 86% until 2031 and a 137% growth in Dubai alone until 2029, the upward trajectory for branded Aerial view of The Palm Jumeirah, Dubai Mohammed Sankari, Chairman of Sankari Properties $60MN Tourism sector’s monetary contribution to the UAE’s GDP in 2023 CW_Feb2025_28-29_Tourism and Real Estate_13498241.indd 29CW_Feb2025_28-29_Tourism and Real Estate_13498241.indd 2903/02/2025 13:0603/02/2025 13:06Next >