AGP Executive Report

Iraq Anti-Corruption Push: Iraq’s parliament urged the government to keep moving on its anti-corruption drive “without leniency,” pointing to major cases including the “Heist of the Century” and calling for action after immunity was lifted for lawmakers. Gaza Postwar Planning: A new debate over Gaza’s “postwar architecture” highlights how plans for Hamas-free camps and a technocratic administration face major implementation blocks on the ground. Turkmenistan Urban & Water Infrastructure: Turkmenistan marked Arkadag City’s smart-city milestone and commissioned new water management facilities in Ahal and Ashgabat, aimed at improving water supply for agriculture and daily life. Saudi Real Estate & Development: Saudi Arabia’s non-Saudi property ownership rules get clearer via executive regulations, while DIFC awarded a major mixed-use tower contract worth $817m. UAE/Regional Construction Momentum: Retal signed $33m contracts for 163 housing units in Makkah, and AirTrunk announced $6.8bn for JHB3/JHB4 data centres in Malaysia with large-scale jobs and water-efficient cooling.

UAE Real Estate: The UAE’s central bank says Abu Dhabi and Dubai kept real estate momentum in Q1 2026, with Abu Dhabi residential transactions up sharply YoY and Dubai transaction value rising 30.3% as off-plan sales led. Saudi Housing Contracts: Retal Urban Development will build 163 homes in Makkah with ROSHN Group in a deal worth SAR 123.83m, spanning 36 months. Branded Living in Dubai: Select Group says Six Senses Residences The Palm is complete, with homeowner handovers underway—another signal of premium, wellness-led residential demand. Iraq Port Development: Iraq plans to invite bids for the remaining piers at Grand Faw Port after Daewoo E&C completed five main jetties, aiming for full commissioning later. Jerusalem Embassy Land Deal: The US and Israel signed a 99-year lease for the permanent US embassy site in West Jerusalem, with a symbolic $1 payment—raising ongoing legal and political questions. Regional Cost Pressure: Dubai inflation hit 5.5% in May, driven by war-linked fuel, transport and food costs, with expectations of easing later. Energy-Led Infrastructure: Webuild started operations at an Aramco water treatment plant in Saudi Arabia, marking the shift from construction to operations.

Lebanon-Israel Diplomacy: Lebanese President Joseph Aoun defended a U.S.-mediated framework with Israel, arguing negotiations are the only path to secure an Israeli withdrawal and the return of displaced residents—an issue that directly affects housing demand and reconstruction planning in southern Lebanon. Iraq Housing Push: Iraq’s Babil Province readied 60,000 residential land plots for eligible families under a wider plan to distribute one million plots nationwide, with land releases in batches and surplus land earmarked for solar power stations. Iraq Anti-Corruption: Iraq launched a major anti-graft drive, arresting 67 officials and seizing assets including real estate, with trials promised to be public—important for investor confidence and the integrity of public land and development programs. Saudi Grid Storage Buildout: Saudi Arabia prequalified 27 firms for a second round of utility-scale battery storage projects (3 GW/12 GWh), supporting renewable integration and future power reliability for development zones. UAE Construction Costs: Moody’s said UAE contractors are absorbing higher imported material costs (up to 25% vs pre-conflict), helping protect near-term developer margins and keeping projects moving. Israel Airport Expansion: Israel advanced Ben Gurion Airport Terminal 3 expansion via tender, signaling continued investment in aviation capacity as the region’s travel and logistics outlook stabilizes. UK Settlement Goods Pressure: The UK weighed coordinated restrictions on goods from West Bank settlements, adding another layer of policy risk for cross-border trade tied to property and construction supply chains. Israel Real Estate Finance: Bank Hapoalim CEO Yadin Antebi warned Israel’s next government faces the defense budget challenge, with knock-on effects for living standards and the real estate sector’s outlook.

Energy & Infrastructure Transfer: BTC pipeline operatorship shifts from bp to SOCAR’s subsidiary SMO effective 1 July across Azerbaijan, Georgia and Türkiye, while Sangachal terminal stays under bp—an important Middle East corridor update for logistics and long-term asset planning. Real Estate & Luxury Demand: Binghatti says a Bugatti Residences penthouse sold for AED200m (plus another AED70m penthouse) in Dubai’s Business Bay, signaling continued appetite for ultra-luxury, branded homes. Property Tech Push: Saudi Arabia will host the Global Proptech Summit 2026 in Riyadh (Oct 25–26), with AI, digital twins and affordable housing solutions on the agenda. Energy Storage for Cities: Saudi’s power procurement body qualifies 27 firms for six utility-scale BESS projects (3,000MW, 4-hour discharge), a grid upgrade that can support future development. Market Sentiment Watch: Istanbul inflation eased in June, but housing costs rose—useful context for Turkey’s cost pressures and buyer affordability. Construction Finance Stress: Shoreline Mall bondholders back a two-year repayment delay and higher coupon, reflecting ongoing refinancing strain tied to disputes over claims. Urban Planning Pipeline: UK’s Forest City 1 “speculative” plan faces no central consultation, but promoters can still pursue local planning routes—another reminder that approvals hinge on execution, not headlines.

West Bank Housing & Land Controls: Israel sealed the Al-Tadamon Charitable Society HQ in Nablus, with Palestinian officials saying the raid targets services for orphans and schools, while Israel cites terrorism-related support. Settlement Pipeline: The Palestinian Authority warned against Israeli plans to tender 3,400+ settlement units in E1, saying it would break West Bank contiguity and derail a future Palestinian state. Hebron Holy-Site Pressure: Israel sealed Hebron with 106 iron gates and is accused of tightening control around the Ibrahimi Mosque, including restricting access and call-to-prayer. Gaza Settlement Plans: Smotrich said three new Gaza settlements are ready but need Netanyahu’s approval, as Israel holds most of Gaza territory. Iraq Property Rights: Nineveh Council lifted building restrictions on legally registered private land on Mosul outskirts, ordering permits and land-leveling while addressing demographic and security disputes. Construction Compliance & Labor: Iraq’s Karbala refinery probe flags ~1,000 foreign workers without valid permits and unregistered contracts, pushing for investigations into possible misuse of funds. Saudi PPP Healthcare: Saudi NCP launched a tender for a 391-bed hospital at Umm Al-Qura University in Makkah under a 30-year DBFOM PPP. Real Estate Finance/Investment: Segro rejected Prologis’s £12.6bn bid, arguing it’s “inadequate” as the logistics-and-data-centre REIT sector stays in focus.

Logistics & Industrial Real Estate: DP World and Lintara Properties (Arcapita) broke ground on a 20,000 sqm build-to-suit Grade A logistics centre in Jebel Ali Free Zone (Jafza), targeting completion in Q1 2027; DP World will operate, while Lintara handles development and later asset management. Power & Energy Infrastructure: Karpowership started construction of four “Sea Lion” class powerships at HSG Sungdong in South Korea, each delivering 300 MW, with deliveries planned between Jan–May 2028—an energy supply story with knock-on effects for grid-linked real estate and industrial demand. Urban Development & Branded Living (Egypt): Accor and Margins Developments launched Novotel & Novotel Residences New Cairo Lusail in New Cairo’s Sixth Settlement (30 feddans, 266,000 sqm, EGP 15bn investment), adding a 120-room hotel plus 450+ branded residences. Coastal Tourism Housing (Egypt): NAIA Developments will launch Swissôtel Residences-branded serviced residences at NAIA Bay in Ras El Hekma; Phase One is 95% complete with handovers starting Q4 2025, supporting the North Coast’s serviced-living push. AI Data Centres (Saudi Arabia): Magna AI and Emaar Executive Company signed a framework to plan and deliver sovereign AI data centres and “AI Factories” across Saudi Arabia, with potential expansion into wider MENA. Construction Finance (Iraq): Euler Hermes backed a €112m deal supporting a float glass plant project in Iraq, tied to Horn Glass Industries’ engineering and equipment delivery. Housing Market Pressure (Regional): Middle East conflict risk continues to weigh on buyer sentiment and mortgage affordability, with reports pointing to stalled sales and higher borrowing costs across West Asia.

Middle East Housing & Finance: Israel’s E1 settlement push drew a warning from five European states, who said the plan could split the West Bank and undermine a Palestinian state—an issue that directly feeds land, construction and displacement risks. Gaza Real Estate Disruption: Fresh Israeli strikes in Gaza killed eight and injured dozens, hitting tents housing displaced families—another blow to shelter supply and rebuilding prospects. Gulf Infrastructure: Kuwait is pressing ahead with new airport road links, with the public works minister urging quality and on-time delivery to handle expected traffic. Armenia–Syria Education (Community Impact): An Armenian language program in Hasakah, Syria, is expanding courses for learners and aims to embed the language into local curricula—supporting community continuity amid displacement. Investment & Development: IQ-EQ rebranded Gordian Capital after Dubai expansion, keeping a Middle East fund-structuring footprint. Construction Materials & Jobs: Iraq’s al-Anbar began work on a privately owned cement plant, targeting 1m tons annually and 5,000 jobs. UAE Mobility: Etihad Rail launched its first passenger service between Fujairah and Abu Dhabi, improving inter-emirate connectivity for residents and businesses.

Gaza Ceasefire Strains: Israel reported new ceasefire violations with drone and artillery strikes in central and northern Gaza, while it continues expanding the “Yellow Line” buffer that bars Palestinian access. Riyadh Leasing Push: JLL was appointed exclusive leasing agent for Al Bustan Business Park, a Grade A mixed-use office hub in Northern Riyadh targeting LEED Gold. Dubai Financing for Buyers: Expo City Dubai partnered with Emirates NBD to offer tailored mortgage and home-financing options for ready-to-handover and off-plan units. UAE Energy Retrofit: Manor by JA hotel says a new heating-systems project cut energy use by up to 80% under a 10-year service agreement. Construction Costs & Demand Pressure: UK mortgage approvals fell to a 2.5-year low in May, blamed on higher borrowing costs tied to Middle East tensions. Qatar Roads Tender: Ashghal is expected to award the Wadi Al-Banat roads and infrastructure contract in Q3 2026, with completion targeted for Q2 2029. SME Digital Banking: Egypt’s Banque Misr and Vodafone Business expanded SME financing via the ENGEZ digital platform, including support for real estate and construction sectors.

Coastal & Hospitality Development: Mumbai’s long-stalled offshore luxury floating hotel plan has cleared a major step, with the Maharashtra Coastal Zone Management Authority recommending the project for CRZ clearance after decades of legal and permitting delays. Gulf Real Estate & Retail: Saudi developer Cenomi Centers awarded a SAR 1.3bn ($342m) design-and-build contract for a premium Al Khobar Downtown Mall and boulevard, targeting a three-year delivery for a new mixed-use lifestyle destination. Construction Delivery Watch: In Iraq’s Dhi Qar, officials say housing projects are stuck due to duplicate land plot records, incomplete legal procedures, and delays affecting more than 110 housing projects—while a Shatt Al Ibrahim lining effort reportedly spent billions without results. Urban Infrastructure Progress: Srinagar’s Semi Ring Road Phase-I is nearing completion with ~87% physical progress, but Phase-II and Phase-IIA are delayed by land acquisition and utility shifting. Policy & Investment Climate: Egypt’s real estate and tourism sector leaders urged more investment and regulatory reforms, pointing to persistent global uncertainty and high interest rates as key headwinds.

Foreign Ownership & Makkah Real Estate: Saudi’s Jabal Omar plans to sell 400 hotel residential units this year and reshuffle its final phase after new rules allow non-Saudis to own property in designated zones, aiming to widen the investor pool and cut debt. Egypt Industrial Buildout: Korra Energi won a EGP 470.7m ($9.5m) contract for the GennVax Egypt vaccine manufacturing facility in the Suez Canal Economic Zone, with potential expansion to EGP 570.7m, adding production buildings, utilities and external infrastructure. Transport Infrastructure Boost: Israel Railways started partial operations on the Eastern Rail Line, opening three new stations and a faster link to Tel Aviv via Rosh HaAyin, with the full 64-km route still under construction. Regional Connectivity Push: Pakistan Business Forum welcomed easing Iran tensions and urged turning goodwill into trade, investment and energy connectivity, targeting higher bilateral trade levels through better borders and banking. Security & Urban Impact (Bahrain): Bahrain reported damage to homes and vehicles after intercepted Iranian drones/missiles, while crypto markets saw about $700m in liquidations—another reminder of how conflict risk can spill into property and finance.

Humanitarian Aid & Housing Emergency: Venezuela’s earthquake toll has climbed to 1,430 with 68,900 reported missing, as damaged airports and older, poorly built housing complexes complicate rescue and recovery; international teams are still trying to reach the hardest-hit areas. Middle East Security & Infrastructure: Iran-linked attacks raise risks around the Persian Gulf, including drones hitting Bahrain and a ship struck in the Strait of Hormuz, while negotiations continue—an uncertainty factor for regional logistics and development. Real Estate Policy in Occupied Jerusalem: Palestinian President Mahmoud Abbas urged Christian institutions in East Jerusalem to reject Israel’s planned “Arnona” municipal property tax, warning it threatens the city’s Christian presence and historic legal status. Construction Progress (Iraq): Iraq’s 200-bed Heet General Hospital in Al-Anbar is reported 72% complete, with remaining work focused on infrastructure and medical equipment ahead of an April 2027 target. GCC Property Rules: Saudi Arabia has approved regulations governing foreign ownership, signaling a further push to attract investment under Vision 2030.

Water & Environment: Iraq’s parliament is set for a special session after pollution in the Tigris and Euphrates worsens, with officials citing unprecedented contamination hotspots and violations. Invasive Species: In Al-Anbar, water hyacinth is spreading fast across Euphrates waterways, threatening water intake, biodiversity, and adding maintenance burdens. Energy & Land Use: Türkiye’s Administrative Court of Van inspected a controversial solar project in Bitlis that would use communal grazing land, as residents and livestock owners push back. Regional Infrastructure: TAPI gas construction is progressing toward Herat’s industrial park, with officials saying pipeline laying and access roads are advancing and gas could arrive within six months. Strait of Hormuz Logistics: The U.S. Navy says a route near Oman through the Strait of Hormuz is expanding for inbound and outbound traffic, underscoring heightened tensions and fee disputes. Market Watch: Dubai’s housing market cools after a long rally, while affordability remains a key constraint across the region. Construction Heritage: Türkiye launched a “Deep Heritage Project” to protect WWI shipwrecks in the Dardanelles, blending conservation with future planning.

Middle East Security & Shipping: The Pentagon says US forces struck Iran on June 26 after an Iranian drone attack hit the Singapore-flagged cargo ship M/V Ever Lovely in the Strait of Hormuz, escalating pressure on a fragile ceasefire and keeping regional shipping risk front and center. Regional Trade & Connectivity: Kazakhstan plans a private-financed cargo transshipment terminal at Bandar Abbas, using an existing rail route via Turkmenistan and Iran to reach South and Southeast Asia—an infrastructure play that could reshape logistics flows around the Gulf. Cross-Border Real Estate Capital: Gulf buyers are returning to London’s luxury market as steep discounts lure Middle East wealth; American and Gulf buyers account for about half of luxury home sales so far in 2026. Tourism & Property Development: iSwiss Hedge Fund says it is backing a major ultra-luxury tourism project in Salalah, Oman, spanning 206,000 sqm and aimed at boosting the region’s high-end hospitality pipeline. Housing Market Pressure (US, spillover relevance): A US bipartisan housing bill is stalled as Trump refuses to sign it, while mortgage rates and affordability remain strained—conditions that can ripple into investor sentiment for real estate globally.

Saudi Real Estate Access: Saudi Arabia has launched the “Saudi Properties” portal to let eligible foreigners apply for property ownership under the Foreign Real Estate Ownership Law, with eligibility checks and application tracking handled digitally by REGA. Egypt Renewables Push: Egypt signed an MoU to set up its first wind turbine manufacturing plant and build a 2GW wind farm in the Gulf of Suez, aiming to boost local content and cut reliance on imported equipment. Qatar Retail & Mixed-Use Growth: LuLu Group plans to invest QR500m to open three new hypermarkets in Qatar (Baraha Town, Al Waab, Qetaifan Island), supporting retail demand tied to urban development and tourism. Bahrain Urban Agenda: Bahrain’s Smart Cities Summit 2026 will bring together regional leaders on smart city delivery, with awards spanning AIoT, ESG, waste management and renewable energy. Tunisia–Italy Trade Momentum: Tunisia and Italy reported rising economic ties, with trade at about TND 20.5bn in 2025 and continued growth into 2026. GCC Hospitality Deal: Blacksand and Marriott will develop 10 hotels in Saudi Arabia (1,300+ rooms) over four years, starting with Riyadh.

Makkah Redevelopment: Umm Al Qura-led consortium signed framework deals with the Royal Commission for Makkah City and Holy Sites to redevelop Hindawiya West and Hindawiya South under the Makkah Informal Settlements Development Programme, with fund structuring and marketing roles set out for the developer. Makkah Investment Funds: Jadwa Investment launched two real estate development funds in Makkah worth up to SAR 10bn, targeting Al Hijla and Eastern Hindawiyah areas near the Holy Mosque. Qatar Wealth & Real Estate: HSBC welcomed clients to its first Premier wealth centre inside its new Msheireb Downtown Doha headquarters, reinforcing Doha’s smart-city commercial push. Iraq Environmental Enforcement: Iraq’s Supreme Judicial Council ordered courts to pursue legal action against polluters, including public bodies, after pollution hotspots were identified along the Euphrates. Armenia Foreign Buyers: Foreigners completed 1,073 real estate buy-sell transactions in Armenia in Q1 2026, up 32.3% YoY, with apartments the biggest share of both purchases and sales. Construction Costs Watch: A report warns construction costs are rising again as Middle East conflict uncertainty affects bid validity and procurement lead times. Gaza/West Bank Pressure: UNICEF called Gaza’s “ceasefire” a deadly illusion while reports highlight West Bank economic strain from ongoing violence and restrictions.

Egypt Real Estate & Services: TMG Holding and SOKNA are partnering to modernise cemetery services in Egypt via the BOSTAN cemeteries project, with SOKNA handling sales and management and TMG providing offices across locations. Egypt Capital Markets: MNT-Halan is reportedly eyeing an IPO on the Egyptian Exchange, potentially valuing the fintech unicorn at $900m–$1bn, after launching the Halan AZ Real Estate Fund. UAE Infrastructure & Water: DEWA is expected to award the Jebel Ali G Station sewage treatment plant contract in Q3 2026, with completion targeted for Q2 2027. Qatar Roads & Urban Growth: Ashghal is set to award Doha Air Base roads and infrastructure works in Q3 2026, plus North Semaisma infrastructure (P07A) with completion targeted for 2030. Saudi Redevelopment Finance: Ladun’s consortium for the Khalidiyah informal settlement redevelopment in Makkah plans a fund of at least SAR 4bn to finance infrastructure, plot subdivision and sales. Oman Health Facilities: Oman awarded the Oman Genome Centre and Bio Bank project contract in Al Seeb, Muscat. Regional Logistics: Turkmenbashi port is reportedly running at just 25–30% capacity due to visa and permit friction, even as Trans-Caspian demand rises. Geopolitics Watch: US lawmakers and the White House are locked in a fresh fight over Iran war funding, while Gulf allies push for any deal to protect their security—an uncertainty backdrop for regional construction and investment.