As reported by Spiegel.de, Egypt has given the nod to plans for a gigantic bridge across the Red Sea. It would provide the first direct road link between Arab North Africa and the Middle East -- but the project could upset Israel and Jordan. Egypt and Saudi Arabia hope to construct a giant bridge spanning the Gulf of Aqaba for road and rail traffic. Officials at Egypt's Ministry of Transportation have confirmed to SPIEGEL that the project, under discussion since 1988, has finally been approved. Egyptian Prime Minister Essam Sharaf has reportedly put General Abdul Aziz, the chairman of the Arab Road Association, in charge of overseeing the project's implementation. The Gulf of Aqaba runs along the eastern edge of the Sinai Peninsula. Plans call for the 32 kilometer bridge to cross the narrow Strait of Tiran from Ras Nasrani, near the Egyptian resort of Sharm el-Sheikh, to Ras Hamid in northwestern Saudi Arabia. Parts of the bridge would be suspended. For the Arabs, the massive construction project would be a triumph. For the first time since 1948, when the modern state of Israel was founded, Arab states in North Africa would have a direct road link with fellow Arab states in the Middle East without having to cross Israeli territory. It would also reduce dependence on sometimes perilous ferry crossings over the Red Sea and Arab ports on the Mediterranean. Planners believe that tolls paid by millions of Muslim pilgrims on their way to holy sites in Saudi Arabia could make up for the roughly US$ 5 billion the bridge is expected to cost. They also believe the bridge will significantly increase the number of pilgrims. Five years ago, then-Egyptian President Hosni Mubarak abruptly put the monster project on ice shortly before construction began in response to security concerns voiced by neighboring Israel. This area of the Red Sea is highly important to Israel and Jordan as it provides them with access to the Indian Ocean.

Waterfront City, the flagship project to line the Joseph Khoury Marina stretch, was launched on July 13, in a breathtaking ceremony on-site, reported Zawya.com. The project, as was confirmed, will include residential, commercial and leisure facilities, to unfold in multiple phases over the next few years. Phase One of Waterfront City was launched, which will include 7 unique buildings, an uplifted promenade with cafes, restaurants and a retail zone. The project, located on the Mediterranean Sea, approximately 15 kilometer north of Beirut, is a product of a strong joint collaboration between Ste Joseph G. Khoury et Fils Holding and regional developer Majid Al Futtaim Properties. Architectural design belonged to ERGA Group, and SB Architects (from the United States). Covering a total area of over 193.6 thousand square meters, Waterfront City will serve as an unparalleled development in Lebanon, in terms of scale and offerings. With over 5 thousand luxurious residential units of varying sizes, catering to all the modern demands of the Lebanese buyer; a full-fledged commercial district, complete with a grand international shopping mall and numerous dining and entertainment options, along with a renowned hotel chain. The master-plans of the development have shown that it will be built around the famous Marina Club, offering residents an exclusive and calm lifestyle away from the city. A newly developed health club, gym and year round swimming pool will also be available to the residents to enhance the lifestyle offering and ensure convenience for active residents.

As reported by press-center of Ministry of Territorial Administration RA, third class irrigation channels Akhlatyan and Goris and pumping station Vorotan-2 were put into operation in Syunik region on July 15. All restoration works were funded by "Millennium Challenge Account - Armenia." To restore the channels Akhlatyan and Goris were invested US$ 82 thousand and US$ 328 thousand respectively. It should be noted, that this two channels together can irrigate about 160 hectares of agriculture lands. The restoration budget of pumping station Vorotan-2 was about US$ 2. 228 million. According to the press-center of Ministry, "Millennium Challenge Account - Armenia" has already provided about US$ 2. 7 million to reconstruct irrigation infrastructure in Syunik region.

According to lenta.ru, Tashir Group opened US$ 120 million shopping and entertainment complex RIO in Yaroslavl. With 70 thousand square meter total area, complex is situated on Tutaevsky road between regions Bragino and Kirovsky. This is the company's sixteenth shopping and entertainment complex, and Tashir Group planned to open another two in Saint Petersburg and Vologda. The complex includes a shopping gallery, a grocery hypermarket, Sportmaster specialized shop, 4-hall cinema, sport and entertainment centers, bowling, billiards, restaurants, 800 parking lots, etc. Tashir Group, one of the largest real estate holdings in Russia, was founded by Samvel Karapetyan in 1999. The Group builds shopping centers, office and residential complexes, warehouses, hotels in Moscow and in other regions. Up to 2011 the company has already built more than 60 commercial propeties with total area 1,2 million square meters. It should be also noted, that RBK's journal June issue included the raiting of the largest developers in Russia. The second place took Tashir Group with US$ 1.73 billion turnover. RBK's rating was based on company's figures, analysts' estimates, as well as their own data.

According to constructiondigital.com, Russian President Dmitry Medvedev fears that Russia's construction plans for the 2012 Asia-Pacific Economic Cooperation (APEC) Summit may face delays. Russia has been undergoing several construction projects in preparation for the APEC Summit, the first of many world events that the country will be hosting in the next decade. The country will also be hosting the 2014 Winter Olympics, a Formula 1 car race in 2015, the 2016 Ice Hockey World Championship, and the 2018 World Cup. The Russian government has committed 662.9 billion rubles ($23.8 billion USD) for construction projects on the surround infrastructure around the island and the nearby city of Vladivostok. The 150 year-old city is home to a population of 616,740 citizens. As reported by kommersant.ru, during presidents official visit to island Russky was found that for a year before summit, in Vladivostok are ready only 20 percent of planned five-star hotels and this 20 percent represent a pair of concrete skeletons. Medvedev has ordered Russian officials to design a backup plan in case a suspension bridge being built on the island isn't prepared in time. Another bridge currently under construction over Vladivostok's Golden Horn Bay may also be as much as a full year behind schedule. Over 26,000 workers are involved in the construction projects on different facilities, including more than 11,000 foreign citizens. For a year before in island only 53.7 percent of construction projects were ready. The whole project includes over 96 buildings and only 6 of it were put into operation. Construction of 69 buildings is anderway and 13 are in the plannig stage, another 6 didn't even begain to design, marked kommersant.ru. Despite of all this delays, during his official visit Russian President Dmitry Medvedev summed up - '' one may long to adjust deadlines for construction objects. However, the APEC summit will open on September 1, 2012, and this date can't be moved''. Russia was awarded the role as host for the APEC Summit during the group's 2007 meeting in Sydney, during the second term of then-President Putin who sought to increase the country's role with other Asian countries. Last year, China became Russia's top trading partner with trade jumping by 50 percent to $59 billion.