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× HOME NATIONWIDE RIYADH REGION RED SEA REGION TOURISM DEVELOPMENT PROJECTS TO WATCH PROFILE * ☰ * Advertising promotions sponsorship * Services * HOME * NATIONWIDE * RIYADH REGION * RED SEA REGION * TOURISM DEVELOPMENT * PROJECTS TO WATCH * PROFILE * 10 October 2024 * Advertising promotions sponsorship * * * * HOME * NATIONWIDE * RIYADH REGION * RED SEA REGION * TOURISM DEVELOPMENT * PROJECTS TO WATCH * PROFILE * NEOM 29 ° C * Search × * LATEST * NATIONWIDE * RIYADH REGION * RED SEA REGION * * * * Home * Advertising * Promotions Sponsorship 10 October 2024, Riyadh 33 ° C * Nationwide * Riyadh * Red Sea * Tourism * Projects FOCUS Roshn ROSHN opens sales for over 1,000 new units in SEDRA Phase 4 Read full story NEWS FEED * Monday 07 Oct, 2024 The Qiddiya Investment Company (QIC) has awarded a $1 billion contract to the FCC-Nesma consortium for the construction of the Prince Mohammed bin Salman Stadium Read more This stadium will be a key feature of the entertainment and tourism megaproject in Riyadh. The consortium, consisting of Spain's FCC Construcción and Saudi contractor Nesma & Partners, has been selected for their expertise and experience in delivering high-quality construction projects. This partnership signifies a significant milestone in the development of the Qiddiya project. * Sunday 06 Oct, 2024 Residential mortgages decrease to SAR 6.6 Billion in August Read more The volume of residential mortgage loans to individuals by banks decreased by 8% year-on-year (YoY) to reach SAR 6.6 billion in August, as per data released by the Saudi Central Bank (SAMA). This represents a decline of approximately SAR 473 million, or 7%, when compared to July. * Sunday 06 Oct, 2024 Al-Gharaa International Real Estate Development Company Limited signs five contracts for the management and operation of hotels Read more A subsidiary of Knowledge Economic City Co., Al-Gharaa signed the contracts as part of the initial phase of the Islamic World District Project (IWD). * Saturday 05 Oct, 2024 Saudi Arabia successfully completes key road infrastructure projects in the Tabuk region covering over 8,000 km and more than 200 bridges Read more This infrastructure development is vital in linking the Tabuk region to major projects such as NEOM, Amaala, and The Red Sea, as well as in facilitating the journey of pilgrims traveling from the northern parts of the world to Makkah and Madinah. * Saturday 05 Oct, 2024 Saudi Arabia's ambitious giga-project, Diriyah finalizes agreements totaling nearly $1 billion with European companies Read more Situated at a UNESCO World Heritage site near Riyadh, Diriyah project, valued at $63 billion, has successfully secured deals with an Italian developer and a French company, with discussions underway to attract more foreign investors interested in acquiring equity stakes in hotels and real estate developments. * Friday 04 Oct, 2024 Saudi-Spanish Consortium wins Qiddiya stadium project contract Read more Qiddiya Investment Co. (QIC) has announced the award of the construction contract for the Prince Mohammed bin Salman Stadium project to a consortium comprising Nesma & Partners Contracting Co. and FCC Construcción, valued at an estimated SAR 4 billion. The contract encompasses the development of a multi-purpose stadium within the sports and entertainment zone of Qiddiya City, with seating capacity for 45,000 spectators. * * Friday 04 Oct, 2024 TDF announces successful conclusion of recent visit to Al-Ahsa Read more The visit, focused on supporting private sector stakeholders and entrepreneurs developing exciting new tourism investments in Al-Ahsa. * Friday 04 Oct, 2024 Kingdom Holding Co. signs agreement with Saudi Binladin Group (SBG) to resume construction of the Jeddah Tower project Read more The remaining construction is expected to be completed over a 42-month period. The Jeddah Tower is set to become the world's tallest building, standing at over 1,000 meters in height. Currently, only 63 floors out of the total 157 have been completed. * Friday 04 Oct, 2024 Taiba Investments announces strategic partnership with Hilton to introduce theWaldorf Astoria Hotels & Resorts brand to Madinah Read more Scheduled to open its doors in 2028, the new property, Waldorf Astoria Al Madinah, will offer over 300 elegant guest rooms and suites. The partnership demonstrates Taiba Investments' dedication to enhancing the Saudi tourism sector through collaborations with globally recognized hospitality brands like Hilton. * Thursday 03 Oct, 2024 Marriott announces a strategic agreement with Red Sea Global (RSG) to open a new 391-unit Ritz-Carlton property in the Red Sea Read more This collaboration marks the fourth partnership between the organizations, following the recent openings of The St. Regis Red Sea Resort, Nujuma - a Ritz-Carlton Reserve, and the signing of The Red Sea Edition. With breathtaking views of the Red Sea, Marina Village, and the Hijaz mountains, guests will experience a sense of calm and rejuvenation while enjoying the hotel's many facilities. * Thursday 03 Oct, 2024 Roshn Group has secured a SAR9 billion ($2.4 billion) syndicated credit facility for regional expansion Read more The unsecured revolving credit facility, with a duration of five years, forms a crucial part of Roshn's funding strategy. Leading financial institutions such as Saudi National Bank, Arab National Bank, and Riyad Bank acted as Book Runners & Mandated Lead Arrangers, with Bank Al Bilad, Alinma Bank, and Saudi Awwal Bank participating as Lead Arrangers and Arrange. * Thursday 03 Oct, 2024 Saudi firm set to sign SAR8 billion deal to complete Jeddah Tower Read more The Jeddah Economic Company (JEC) is on the verge of finalizing a new agreement with the Saudi Binladin Group to resume construction on the Jeddah Tower, set to become the world's tallest building. The deal, is valued at over SAR8 billion ($2.13 billion). Currently, only 30% of the tower has been completed. The Jeddah Tower is planned to reach a height of at least 1,000 meters. * * Thursday 03 Oct, 2024 Saudi Red Sea Developer aims to raise a minimum of 14 billion riyals ($3.7 billion) within the next year Read more This new funding will facilitate the construction rollout in Amaala, a wellness-focused destination with 29 hotels. In 2021, the company had secured 14.1 billion riyals in loans to support the initial construction phase. Red Sea Global plans to have six operational hotels by the end of 2024, with an additional 20 slated to open next year, including eight at Amaala. * Wednesday 02 Oct, 2024 Retal Urban Development Co. finalizes two agreements with ROSHN Real Estate Co. Read more The agrements cover the purchase and development of residential land for 644 housing units, as well as infrastructure works in the Sedra residential neighborhood in Riyadh. The total value of these contracts over a 36-month period amounts to SAR 792.02 million. * Wednesday 02 Oct, 2024 LEVA Hotels announces launch of its highly anticipated 5-star luxury brand, Zen by LEVA, in Saudi Arabia Read more Zen by LEVA promises to redefine the concept of luxury with its debut property in Saudi Arabia delivering a 5-star experience that goes beyond traditional hospitality, focusing on creating deeper and more meaningful journeys for its discerning clientele. * Wednesday 02 Oct, 2024 Strategic partnership announced to bring the prestigious Waldorf Astoria Hotels & Resorts brand to the holy city of Madinah Read more This partnership between Taiba Investments and Hilton was solidified during the Future Hospitality Summit (FHS) World in Dubai. Scheduled to open its doors in 2028, Waldorf Astoria Al Madinah will mark the brand's debut in Madinah, introducing its renowned luxury standards and exceptional service to the holy city. * Wednesday 02 Oct, 2024 NEOM unveils interior designs of the Sindalah Yacht Club, showcasing the epitome of luxury at the island's marina Read more This is part of the preparations for the grand opening of Sindalah, NEOM's first island destination, later this year expected to attract the global yachting community. * Wednesday 02 Oct, 2024 Saudi Arabia reveals ambitious plans to host the 2034 FIFA World Cup Read more The kingdom is showcasing proposals for the construction of new stadiums, hotels, and airports for the tournament. 185,000 new hotel rooms will accommodate the influx of visitors and the new King Salman International Airport is expected to be operational. * * Wednesday 02 Oct, 2024 Global property consultancy Knight Frank reports Riyadh's retail sector is expected grow 28% to 4.6 million m2 Read more Average rental rates in Riyadh's retail market have increased by 3% for both regional and super-regional malls over the past year. Occupancy rates have risen by 5%. Development of new cinemas, concert halls, theme parks, and sports complexes is contributing significantly to non-oil GDP growth. * Wednesday 02 Oct, 2024 Riyadh Season a significant economic driver, attracting local and international capital Read more Attendance exceeded 20 million in 2023 and industry experts anticipate that this year's Riyadh Season will draw even more visitors, citing the General Entertainment Authority's efforts to align with the target of 150 million annual visitors by 2030. The upcoming edition will showcase some of the world's largest entertainment events. * Wednesday 02 Oct, 2024 Grand Hyatt The Red Sea and Miraval The Red Sea both scheduled to open by end 2025 Read more Hyatt has recently announced the appointment of general managers for Grand Hyatt The Red Sea, a luxurious property featuring 430 rooms and Miraval The Red Sea, a highly anticipated luxury wellness resort featuring 180 rooms, suites, and a range of wellness amenities. * Tuesday 01 Oct, 2024 Intersec, sixth edition of Saudi Arabia's premier security trade starts today in Riyadh Read more Genetec , a leading technology provider of unified security, public safety, operations, and business intelligence solutions, will be showcasing its cutting-edge physical security solutions and offer insights into the latest advancements in hybrid cloud-based security solutions. * Tuesday 01 Oct, 2024 Report reveals decision to waive expat fees has had a positive impact on the industrial sector and the national economy Read more The report points to a rise in foreign investments in the industrial sector, attributed to government support measures such as the fee waiver, local content regulations, and preference list. These initiatives have played a crucial role in attracting investments and fostering growth in the industrial sector. * Monday 30 Sep, 2024 UN World Tourism Barometer report confirms Saudi Arabia as the fastest-growing G20 country Read more The report reveals 73% increase in international tourist arrivals to Saudi Arabia during the first seven months of 2024, compared to the same period in 2019. The implementation of a robust visa facilitation program has played a pivotal role in attracting millions of international tourists, enhancing Saudi Arabia's connectivity with the world. * Monday 30 Sep, 2024 Riyadh Season 2024 programme starting October 12 announced Read more The General Entertainment Authority (GEA) unveils upcoming fifth edition of Riyadh featuring 14 entertainment zones, 11 world championships, 10 festivals and exhibitions. Highlights include the Riyadh Season Tennis Cup. * Sunday 29 Sep, 2024 Cityscape Global gearing up for biggest show in Riyadh Read more With a focus on "The Future of Living," featuring over 400 top exhibitors, more than 500 speakers, Cityscape Global 2024 is scheduled to take place from November 11 to 14 at the Riyadh Exhibition and Convention Center. The line-up includes additional sector profiles sustainable smart buildings, smart hotels, developers, and tech zone focusing on smart cities. * Sunday 29 Sep, 2024 Riyadh Region Mayoralty announces five contracts totaling SR6 billion to enhance the quality of roads in the capital city over a five-year period Read more This initiative is part of the city's strategic plans to elevate the quality of roads, enhance safety during transportation focussing on an area of 83 million square meters. The Mayoralty has adopted a systematic approach to prioritize work based on a comprehensive survey of the city's roads and streets. * Sunday 29 Sep, 2024 The Saudi Arabia Property Management Software Market is projected to reach US$ 0.09 billion by 2032 with a Compound Annual Growth Rate of 9.36% Read more Riyadh, Jeddah, and Dammam are experiencing significant urbanization and infrastructure development, creating a heightened demand for efficient property management solutions. Key factors fueling this growth include the adoption of cloud computing, Artificial Intelligence (AI), and the Internet of Things (IoT). * Sunday 29 Sep, 2024 Saudi Arabia plans to become a prominent hub for space tourism with 100 balloon-powered flights annually Read more Halo Space, a Spanish company specializing in balloon-powered space capsules, is set to launch commercial operations in 2026. Having successfully completed five test flights in India and California, Halo Space is gearing up for its next test flight in a remote desert in Saudi Arabia between September 27 and 30. * Saturday 28 Sep, 2024 Red Sea Global (RSG) secures two prestigious awards at the TDM Travel Trade Excellence Awards 2024 – Middle East Read more The awards, Community Engagement Program of the Year – Saudi Arabia and Health and Safety Initiative of the Year – Saudi Arabia, showcase how RSG plays a vital role in driving the country's tourism industry through its diverse portfolio encompassing tourism, residential properties, experiences, infrastructure, transport, healthcare, and services. * Saturday 28 Sep, 2024 Saudia is transforming retired aircraft into luxurious dining experiences Read more A part of the Boulevard Runway project, by repurposing these retired aircraft, Saudia is not only preserving a piece of its aviation history but also creating a one-of-a-kind dining experience. * Saturday 28 Sep, 2024 Riyadh International Book Fair, Saudi Arabia's largest book fair, commences Read more With the participation of over 2,000 publishing houses from 30 countries the Riyadh International Book Fair will continue until October 5. This year's edition includes the introduction of a business zone that engages literary agencies in managing authors' deals and contracts. * Friday 27 Sep, 2024 Riyadh Airports Company wins at the TDM Travel Trade Excellence Awards 2024 – Middle East Read more The company was recognized for its impressive increase in passenger numbers and its successful revitalization of the duty-free shopping experience. * Friday 27 Sep, 2024 Egyptian developer, Melee announces $1.2 billion investment in the establishment of three new sports clubs in Saudi Arabia Read more The clubs will be located in Riyadh, Jeddah, and Al Khobar, with the Al Khobar club expected to be completed by the end of the year. Melee aims to attract 40,000 members to its social sports clubs, showcasing a commitment to the development of a sports culture and infrastructure in the region. * Friday 27 Sep, 2024 JLL reports Saudi Arabia's real estate market is on an upward trajectory Read more JLL's latest KSA Real Estate Market Dynamics Report highlights the strong performance of the residential and hospitality sectors in the first half of 2024. This growth is supported by the government's initiatives to promote home ownership, the introduction of tourist visas, and the expansion of entertainment offerings and sports to position the country as a global leisure destination. * Thursday 26 Sep, 2024 Roshn enters into a Memorandum of Understanding (MoU) with the Riyadh Infrastructure Projects Center (RIPC) Read more This partnership aims to enhance the planning and delivery of infrastructure projects in the capital city of Riyadh and its surrounding areas focussing on sharing expertise, implementing best practices in project planning, and utilizing technology to ensure the successful completion of high-quality infrastructure projects. * Thursday 26 Sep, 2024 Pakistan International Airlines (PIA) and representative of the Saudi Tourism Authority in Pakistan signed air travel and tourism agreement Read more The memorandum of understanding aims to position Saudi Arabia as a premier tourist destination for Pakistani travelers through collaborative marketing efforts, co-branded travel packages, and sustainable tourism practices. * Thursday 26 Sep, 2024 Saudi real estate leaders Dar Global and Mouawad announce $235 million luxury residential project in Riyadh Read more This collaboration marks Dar Global's debut in the Saudi market and Mouawad's venture into luxury real estate. The project, scheduled for completion in Q4 2026, will consist of 200 residential villas situated near the World Expo 2030 site in the northern part of the city. The development aims to become one of Riyadh's most prestigious addresses. * Thursday 26 Sep, 2024 JLL's recent KSA Real Estate Market Dynamics report confirms Saudi Arabia's real estate market is experiencing significant growth Read more During the first half of 2024, a total of 27,500 new residential units were completed in Riyadh and Jeddah. Prices in Riyadh rose year-on-year by 10%, Jeddah by 9%. The hospitality and tourism sector in Saudi Arabia has seen remarkable expansion, driven by a surge in tourism initiatives. * Thursday 26 Sep, 2024 Roshn Group unveils new flagship program, the Roshn Green Initiative Center (RGIC) Read more The RGIC, located in Sedra, serves as the central hub for Roshn's Green Initiative, features a tree nursery and an education center providing a platform for schools, organizations, and the public to engage in sustainability efforts. * Thursday 26 Sep, 2024 Retal Urban Development Co. sells its 33.33% stake in prime land in Al Khobar for SAR 21.48 million to Remal Park Fund Read more The land spanning 24,504 square meters is situated in the Al Andalus District of Al Khobar. It will be integrated into a a premium mixed-use complex featuring offices, residential spaces, commercial areas, and a hotel project owned by Retal. * Wednesday 25 Sep, 2024 The Courtyard by Marriott Riyadh has received the Green Globe Certification for dedication to sustainability and innovative environmental practices Read more By meeting the strict requirements of the Green Globe Standard 1.7, the hotel has positioned itself as a leader in sustainable practices within the hospitality industry in Saudi Arabia. This certification is a globally recognized benchmark for businesses that prioritize environmental, social, and economic sustainability. * Wednesday 25 Sep, 2024 Saudi Arabia's flagship carrier, Saudia, announces a significant expansion in its in-flight entertainment offerings Read more This collaboration with Shahid Arabic streaming platform owned by MBC Group will bring over 150 hours of exclusive content to Saudia's Beyond in-flight entertainment system, showcasing a diverse range of top titles. * Wednesday 25 Sep, 2024 Saudi Arabia launches first-ever marketing campaign exclusively targeting Indian tourists Read more The campaign showcases Saudi Arabia as a year-round destination for Indian families, culture enthusiasts, adventurers, and food lovers promoting destinations such as Diriyah, Red Sea, Jeddah, AlUla, and Riyadh. The Kingdom has a goal of attracting 7.5 million visitors from India. * Tuesday 24 Sep, 2024 ParkPoint, leading parking management and operations company based in Bahrain, expands into Saudi Arabia Read more ParkPoint manages over 11,000 parking spaces across Bahrain and Saudi Arabia, which has emerged as a highly attractive investment destination. * Tuesday 24 Sep, 2024 Rheem Middle East inaugurates new regional headquarters (RHQ) in Riyadh, Saudi Arabia Read more A prominent manufacturer of cutting-edge and energy-efficient air-conditioning and water heating solutions, the inauguration follows the successful launch of Rheem's Innovation and Learning Centre (ILC) in Riyadh showcasing Rheem's state-of-the-art technologies and training. * Tuesday 24 Sep, 2024 The construction industry plays a crucial role in preserving Saudi Arabia's heritage Read more A prime example is the Diriyah Project, a $63 billion development that is revitalizing the birthplace of the Saudi kingdom. Utilizing Riyadh limestone, a sustainable and locally sourced material, the project seamlessly integrates with the region's traditional architecture. The pale, sandy-hued mud-brick and stone buildings in Diriyah pay tribute to its rich architectural heritage, blending tradition with a modern vision. * Tuesday 24 Sep, 2024 Saudi Tourism Minister reaffirms the Kingdom's dedication to transforming its rapidly expanding tourism sector prioritizing sustainability Read more The minister emphasized that the Kingdom's efforts in enhancing tourism connectivity serve as a gateway for individuals from around the globe to explore Saudi Arabia's rich cultural heritage and enable its citizens to experience the wonders of other nations and cultures. * Monday 23 Sep, 2024 The Abdul Mohsen Al Hokair Group for Tourism and Development in Saudi Arabia to provide accommodation and catering services for a NEOM residential complex Read more In a disclosure to the Saudi bourse Tadawul, Al Hokair Group disclosed that the contract is valued at over $202.5 million (SAR760 million) and encompasses the provision of accommodation services for a residential complex in NEOM for a duration of seven years. * Monday 23 Sep, 2024 Saudi Arabia to lead the International Coral Reef Initiative (ICRI) for a three-year term beginning 2025 Read more Leading the ICRI underscores Saudi Arabia's commitment to safeguarding the marine environment, biodiversity, and ecosystems. It showcases the Kingdom's pioneering initiatives in coral reef conservation on local, regional, and international platforms. * Monday 23 Sep, 2024 Ajdan Real Estate Development and Aljazira Capital join forces on SR2 billion mixed-use real estate project in the centre of Riyadh Read more Spanning over 21,000 square meters, the project is strategically located in the Al-Rahmaniyah district, at the crossroads of King Fahd Road and King Abdullah Road near the King Abdullah Financial District.The development will feature state-of-the-art towers along King Fahd Road. * Sunday 22 Sep, 2024 The Saudi Red Sea Authority targets 210,000 jobs and $22.6bn contribution to the GDP Read more ‘More Than a Sea’ campaign is designed to promote tourism and investment in the region to reach these goals. * Sunday 22 Sep, 2024 Global PropTech Summit to take place in Riyadh this October. Read more The summit is organized by the Real Estate General Authority in conjunction with the Minister of Municipalities and Housing. It will bring together real estate industry specialists, leaders in property technology, investment and fund managers and CEOs of real estate and PropTech companies. * Sunday 22 Sep, 2024 Real estate developer Amaal has broken ground on Amaal 8 Read more 48 storey Amaal 8 boasts a prime location near the Ras Al Khor Wildlife Sanctuary, offering residents a unique blend of urban convenience and natural beauty. The project features a range of amenities, including state-of-the-art fitness centers, refreshing swimming pools, vibrant children's play areas, and meticulously landscaped gardens. * Saturday 21 Sep, 2024 S&P Global upgrades Saudi Arabia's economic outlook from stable to positive, citing its focus on tourism as a key factor Read more The report from S&P Global Ratings highlights the significant investments being made by Saudi Arabia to attract international visitors and enhance its global tourism appeal. The Kingdom's Public Investment Fund (PIF), with a goal of increasing its assets under management to $1 trillion by 2025, will support the growth of tourism. * Saturday 21 Sep, 2024 NEOM Beach Games to take place from November 3rd to November 23rd Read more The Games provide a premier platform for athletes, spectators, federations, and rights holders to experience world-class sporting events. Featuring six major international sports competitions, NEOM serves as a natural home for performance excellence. * Saturday 21 Sep, 2024 Cityscape Global 2024 returns to Riyadh in November Read more Focusing on sustainable development, smart cities, and mega projects, the event will showcase over 400 exhibitors, 500 speakers, and seven conferences. The event will take place from November 11-14 at the Riyadh Exhibition and Convention Center. * Friday 20 Sep, 2024 Red Sea Global (RSG) celebrates Seven LEED Certifications for sustainable properties at its destinations Read more This accomplishment solidifies RSG's position as a pioneer in the development of efficient, environmentally-friendly buildings. Additionally, RSG has obtained the prestigious LEED for Cities and Communities pre-certification for the AMAALA master plan. * Friday 20 Sep, 2024 On September 19, 2024, the Saudi Central Bank announced a reduction in interest rates by 50 basis points Read more The repurchase agreement (repo) rate was lowered to 5.50%, while the reverse repurchase agreement (reverse repo) rate was decreased to 5.00%. This decision aligns with the Saudi Central Bank's objective of upholding monetary stability. * Friday 20 Sep, 2024 The Jeddah Historic District Program showcases new archaeological finds at the heritage Nassif House Read more A variety of archaeological discoveries unearthed during a recent excavation campaign are on display. Among these discoveries are ancient ebony pillars from the Othman bin Affan Mosque mihrab, dating back to the early Hijri centuries. * Friday 20 Sep, 2024 Saudi Arabia's Public Investment Fund (PIF) establishes firm for heritage-inspired storytelling Read more The QSAS (stories) company will develop interactive experiences to tell stories inspired by Saudi culture and history, and develop, own and operate world-class interactive exhibitions across Saudi Arabia to propel demand for specific cultural experiences offered to visitors, including pilgrims and tourists. * Friday 20 Sep, 2024 Lazard obtains a regional headquarters license from the Ministry of Investment, establishes its Middle East headquarters in Saudi Arabia Read more Lazard's decision to establish a regional base in Saudi Arabia complies with the country's regulations that firms must have a regional headquarters in the Kingdom with a minimum of 15 employees, including executives overseeing operations in other countries, to be eligible for state contracts. * Friday 20 Sep, 2024 Saudi state to waive fees for expatriate workers in the industrial sector Read more A report reveals the waiver of expat fees has had a positive effect on the industrial sector and the national economy, highlighting a 71.5% increase in the number of foreign factories, reaching 1,067 this year from 662 in 2019. * Friday 20 Sep, 2024 Decision to eliminate fees for issuing commercial licenses for hotels, hotel apartments, and residential resorts, effective September 4th Read more This is part of the ongoing efforts to streamline municipal procedures and services in Saudi cities to improve the quality of tourism services, create a more attractive investment environment for investors and increase competitiveness within the sector. * Thursday 19 Sep, 2024 Leejam Sports Co. opens two centers in Riyadh on September 18th Read more The first center will operate under the Fitness Time-Ladies brand and the second center, for men, will operate under the renowned Fitness Time brand. Both centers are strategically located in King Abdulaziz City for Science and Technology (KACST), along Prince Turki bin Abdulaziz Al Awwal Road in Riyadh. * Thursday 19 Sep, 2024 Saudi Arabia launches new hospitality campaign with the slogan "Our Guests Are Our Priority." Read more The Saudi campaign is dedicated to enhancing hospitality standards, elevating tourism experiences and ensuring that all hospitality establishments meet the necessary licensing and classification standards. * Thursday 19 Sep, 2024 Jeddah Construct takes place at the Jeddah International Exhibition & Convention Center from September 29th to October 1st, 2024 Read more Jeddah Construct provides a platform for experts and stakeholders to foster business opportunities, knowledge exchange, and networking by bringing influential decision-makers and leading producers under one roof. * Thursday 19 Sep, 2024 Saudi Arabia will host the Global PropTech Summit in Riyadh, showcasing latest innovations in the real estate industry Read more The event is organized by Saudi Arabia's Real Estate General Authority (REGA), is scheduled to take place in October. The summit will also have the National Housing Company (NHC) as a strategic partner. This collaboration aims to bring together leaders from real estate leaders, investment funds, financial institutions and CEOs of major real estate and proptech companies. * Thursday 19 Sep, 2024 The AlUla Wellness Festival is set to return from October 17th to November 2nd Read more The 17-day event is the largest of its kind in the Middle East, drawing inspiration from AlUla's rich history as a lush oasis that once provided respite to travelers along the ancient incense trade route. * Thursday 19 Sep, 2024 38% increase in Saudi real estate transactions in the first half of the year Read more During this period, there were 106,700 deals with a total value of approximately $33.9 billion, with residential transactions recording an increase to account for 61% of all property deals by total value according to a report by Knight Frank Global Consultancy. * Wednesday 18 Sep, 2024 Leading Saudi real estate developer Roshn Group opens registration for the Musahama Design Competition - Emerging Design Firms Track Read more The Musahama Design Competition aims to identify and select designs for facilities and amenities within the prestigious Sedra community and provides an exciting opportunity for rising architects and design firms. The competition prioritizes the involvement of local talent and the use of local materials in the design process. * Wednesday 18 Sep, 2024 IKEA Al Sulaiman announces the opening of two new stores in Jazan and Abha Read more Located in popular shopping destinations in Jazan and within the Al Rashid Mall in Abha, customers can also benefit from design services for kitchen and wardrobe solutions tailored to their individual needs. IKEA Al Sulaiman also plans to open a Madinah store by the end of 2024. * Wednesday 18 Sep, 2024 Christie’s auction house launches in Saudi Arabia Read more Christie’s has acquired a business license to operate as the first international Dr. Ridha Moumni, Chairman of Christie’s for the Middle East and Africa, shared that the decision was driven by the remarkable growth in arts and culture in Saudi Arabia, praising exceptional works that reflect the country’s local traditions. * Wednesday 18 Sep, 2024 Saudi Arabia's Tourism Development Fund (TDF) provides funding for new Hajla Hotel in Aseer Read more TDF's visit concluded with signing an agreement to advance the Le Premier project, which includes funding for the Hajla Hotel. The hotel will offer 151 rooms, along with entertainment and shopping facilities. * Wednesday 18 Sep, 2024 AQAR recognized as premier Saudi Arabia real estate platform Read more AQAR offers a seamless experience for property seekers and advertisers through its website and mobile app available on iOS and Android platforms. In addition to listings, AQAR provides financing, leasing, real estate data analysis, and marketing services. * Tuesday 17 Sep, 2024 Areeb Capital Fund acquires a 32 million square meter plot of land in the city of Dammam, Eastern Province Read more The $3.2 billion acquisition enables Areeb Capital to develop the land located in the Al Naseem district on King Faisal Coastal Street into a high-quality, multi-use project. * Tuesday 17 Sep, 2024 Saudi Arabia's ultramodern hydrogen hub city, set to revolutionize the country's energy landscape Read more The Neom megaproject, costing an estimated $8.4 billion, will house the octagon-shaped plant which will have the capacity to produce 600 tons of H2 per day of clean energy production. In line with its commitment to green energy, Saudi Arabia plans to power the hydrogen hub using renewable sources. * Tuesday 17 Sep, 2024 Nestlé announces agreement with Saudi Arabia's MODON to establish Kingdom's first food manufacturing plant Read more The state-of-the-art facility, to be constructed in Jeddah's Third Industrial City, will cost $72 million and span 117,000 square meters. The plant will initially focus on the production of children's food. The factory will feature a warehouse, industrial service and admin buildings and a laboratory. * Tuesday 17 Sep, 2024 BirchStreet Systems selected as exclusive procure-to-pay partner for Red Sea Global in Saudi Arabia Read more This strategic collaboration is a significant step in transforming the Red Sea coastline into a luxury destination. Akram Hashem, Senior Director of Operations for Hospitality Systems Technology at Red Sea Global highlighted BirchStreet Systems' strong relationships with leading hotel brands and deep industry expertise. * Tuesday 17 Sep, 2024 Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman reveals the kingdom is developing its first nuclear power plant Read more Prince Abdulaziz emphasized the importance of the nuclear project within Saudi Arabia's broader energy transition plan and confirmed Saudi Arabia's nuclear program has met all the necessary requirements for nuclear regulatory work. * Monday 16 Sep, 2024 Tickets now available for Wizz Air London Gatwick to Jeddah Read more Scheduled to take off on Sunday, March 31, 2025, Wizz Air is committed to providing travelers with more choices and affordable fares. Operating daily, year-round, this route offers tickets starting at SAR663. * Monday 16 Sep, 2024 Riyadh Air's Artificial Intelligence Integration ito significantly enhance Saudi Arabia's tourism industry Read more AI integration is playing a pivotal role in shaping the future of Saudi Arabia's tourism industry, including travel planning, MICE events, and personalized travel experiences that will attract millions of visitors to the Kingdom. * Monday 16 Sep, 2024 EPC contract for $400 Million Aramco staff housing complex Read more Lamar Holding and Asyad Group have awarded the engineering, procurement, and construction (EPC) contract for 140,000 square meters of residential facilities for 2,800 Aramco staff members at remote sites, Haradh and Wudaihi to Top Engineering/Shaanxi Construction Corporation. * Monday 16 Sep, 2024 S&P Global Ratings revises Saudi Arabia's outlook to positive, affirming its A/A-1 sovereign credit ratings Read more This change reflects confidence in Saudi Arabia's strong non-oil growth prospects and economic resilience, despite the volatility in the hydrocarbon sector and optimism over the Kingdom's continued execution of Vision 2030 initiatives. * Monday 16 Sep, 2024 Five foreign universities granted licenses by the Saudi Arabian government to establish branch campuses in the kingdom Read more These universities, both public and private, will offer master's and bachelor's programs in priority areas such as healthcare, engineering, and business. Saudi Arabia's plans to host branch campuses of Arizona State University, the University of Wollongong from Australia. the University of Strathclyde, the Royal College of Surgeons in Ireland (RCSI) University of Medicine and Health Sciences, and IE University in Spain. * Monday 16 Sep, 2024 Saudi Arabia actively seeks investments from Hong Kong to develop new year-round tourist destination in the Aseer region Read more Sultan Al-Shehri, the chief of the Aseer Region Development Authority, expressed the kingdom's desire to leverage Hong Kong's expertise and know-how to support the growth and development of Aseer as a premier tourist destination. * Monday 16 Sep, 2024 Saudi Arabia has detained over 22,000 individuals in a nationwide security operation Read more The Ministry of Interior announced that a total of 22,373 individuals were arrested during a week-long intensive inspection raids conducted from September 5 to September 11. Of those arrested, 14,216 were found to be in violation of the Residency Law, 4,943 for breaches of the Border Security Law, and 3,214 for infractions related to the Labor Law. * Monday 16 Sep, 2024 RSG confirms over 600 contracts totalling $6.13 billion awarded for construction of luxury wellness destination Amaala Read more Key milestones have been achieved with the Triple Bay Marina Village, Wellness Core, and luxury resorts making significant progress, the Equinox Resort at Triple Bay Marina Village topped out, and construction on the Village Boutique Hotel, condos, and villas nearing completion and the Amaala Yacht Club construction well underway. * Sunday 15 Sep, 2024 Saudi Real Estate Co. receives a final court ruling obligating Muhammad Obaid Abdul Rahman AlHamad, the defendant, to pay SR187,500,000 Read more The lawsuit stemmed from an agreement entered into in 2016 between Al-Akaria and Al Bayan Holding Group Company, in which Al-Akaria invested SR187,500,000 in debt instruments at amortized cost. The positive financial impact of this ruling will be reflected in Al-Akaria's financial statements once the amount is collected. * Sunday 15 Sep, 2024 The General Authority for Statistics (GASTAT) has revealed Saudi Arabia's annual inflation rate remained steady at 1.6% in August 2024 Read more This consistency reflects the Kingdom's strong economic resilience, positioning its inflation rate as one of the most stable globally. It also highlights the effectiveness of Saudi Arabia's economic strategies and timely decision-making dealing with global inflation and price fluctuations. * Sunday 15 Sep, 2024 Saudi Arabia to introduce over 1 million new homes by 2030 Read more This surge in housing development is a result of the government's commitment to increasing homeownership to 70% as part of Vision 2030. * Sunday 15 Sep, 2024 King Abdullah University of Science and Technology (KAUST) and NEOM green economy partnership Read more NEOM's Education, Research, and Innovation Foundation, in collaboration with the Hydrogen and E-Fuels Applied Research Institute (HEFARI) is centered around the development of hydrogen and sustainable fuel production technologies supporting the advancement of hydrogen as a renewable energy source, in which KAUST researchers and scientists are leading the way. * Saturday 14 Sep, 2024 The Saudi Central Bank (SAMA)announced an increase in its repo rate by 0.25 percent, raising it from 1.00 to 1.25 percent Read more Additionally, the reverse repo rate has been raised by 0.25 percent, from 0.5 to 0.75 percent. These policy rate adjustments align with SAMA's objectives of upholding monetary stability and bolstering the economy. * Saturday 14 Sep, 2024 Saudi Arabia's Vision 2030 initiative has resulted in $1.3 trillion in real estate and infrastructure projects launched over the past eight years Read more According to Knight Frank, the volume of projects has increased by 4% compared to the previous year. Since 2016, approximately $164 billion worth of real estate contracts have been awarded, $28.7 billion allocated to Neom, $12 billion to the National Housing Co, $9 billion to Diriyah Gate development and nearly $7 billion to Qiddiya entertainment city. * Saturday 14 Sep, 2024 Saudi banks post increase in real estate loans to $217.82 billion in 2024 second quarter Read more This marks a 12% annual growth, with retail real estate loans accounting for 79% of the total amount and corporate real estate loans 21%. Saudi Central Bank data shows real estate loans have steadily increased as a percentage of total lending activities highlighting the importance of the real estate sector in the overall banking industry. * Friday 13 Sep, 2024 STC Group Partners with New Murabba to Provide Tech and Digital Solutions Read more STC has entered into a strategic partnership agreement with New Murabba, a PIF Company to harness a wide array of innovative digital solutions.improving infrastructure and digital services within the real estate sector through the utilization of cutting-edge solutions. * Friday 13 Sep, 2024 Visionary Holdings secures $120 million investment from the Saudi Public Investment Fund (PIF) Read more This strategic partnership to support debt replacement, real estate, and project developments focusing on global acquisitions and AI education. Visionary Holdings' collaboration with the Saudi PIF marks a significant milestone in the company's growth and development. * Friday 13 Sep, 2024 Neom unveils Jaumur marina for superyachts Read more Jaumur boasts a unique "aerofoil" shelter that can accommodate up to 300 superyachts measuring 492 feet in length. This gravity-defying cantilever structure serves as a striking entrance to the marina, offering protection from the sun and creating a landmark for the world's largest superyachts. * Friday 13 Sep, 2024 Alandalus Property Co. commences new office building project on King Salman Road Riyadh Read more The estimated cost of the project, carried out through Mawarid Al-Tamyouz Co., a real estate limited liability company recently acquired by Alandalus, is SAR 140 million, excluding the rental value of the land. The development signifies Alandalus' dedication to providing high-quality office spaces catering to Riyadh's growing demand for commercial real estate. * Thursday 12 Sep, 2024 Saudi Real Estate Refinance Company (SRC), BlackRock to promote Saudi real estate finance market Read more A memorandum of understanding has been signed between The Saudi Real Estate Refinance Company (SRC) and BlackRock to expedite the development of real estate refinancing programs, expand them through both local and international capital market channels, diversifying funding sources through fixed income markets to increase the stability of the real estate finance market. * Wednesday 11 Sep, 2024 The Smart Gates Project at NEOM Bay was officially launched on 10th September Read more This strategic collaboration between the General Directorate of Passports, the Saudi Data and Artificial Intelligence Authority (SDAIA), and NEOM streamlines passenger procedures and enhances operational efficiency by enabling passengers to scan their biometric data at self-service kiosks. * Tuesday 10 Sep, 2024 The 2024 Hotel & Hospitality Expo takes place from September 17th to 19th at the Riyadh Front Exhibition & Conference Centre Read more The premier trade event in the Kingdom enables hospitality professionals to discover the latest innovations, network with industry experts, and establish connections with key suppliers and tap into tourism growth with expectations of attracting up to 150 million domestic and international tourists by 2030. * Tuesday 10 Sep, 2024 The Holy Makkah Municipality is constructing the first stone park, spanning approximately 1,000 square meters Read more This innovative project repurposes recycled materials and excess stones from projects in Makkah to enhance the aesthetics of parks, promote environmental sustainability utilizing local resources. * Tuesday 10 Sep, 2024 The MEP International Conference 2024 and Building Envelope Design and Insulation Conference (Bedic) 2024 September 16-17, 2024, Jeddah Hilton Read more These events, supported by the Ministry of Municipal and Rural Affairs and Housing (Momrah), will cover a wide range of critical topics, from sustainable energy solutions and smart building technologies to digital transformation. * Tuesday 10 Sep, 2024 Nintex, leader in process intelligence and automation, inaugurates new office in Riyadh Read more The office is located in the hub business district of Al-Olaya. The company is recruiting a team of talent to drive its Saudi Arabia expansion contributing to the technological landscape of the Kingdom. * Monday 09 Sep, 2024 New Murabba is seeking global contractors to participate in the development of the Mukaab Read more Contractors can register their interest in the mixed-use development on the New Murabba website. The company is looking to partner with contractors who prioritize excellence, safety, worker welfare, sustainability, and innovation. The Mukaab is envisioned as a symbol and cornerstone of the new Riyadh development. * Monday 09 Sep, 2024 Saudi Tourism Authority to showcase innovations during Artificial Intelligence in Tourism Sector summit Read more The Ministry of Tourism in Saudi Arabia is leveraging AI to create practical solutions shaping travel and hospitality and partnering with global AI companies to accelerate AI integration in the tourism sector. * Monday 09 Sep, 2024 Saudi Reef launches Rural Development and Rural Tourism business incubators Read more The initiative is designed to enhance the entrepreneurial ecosystem, particularly among small farmers and rural producers, by equipping them with the necessary tools and skills to develop their products and accelerate growth. * Monday 09 Sep, 2024 Saudi developer Emaar Economic City unveils SR8.7 billion restructuring plan Read more This includes restructuring the SR3.8 billion debt owed to banks and converting SR4 billion of debt owed to the Saudi fund PIF into share capital. The capital optimization strategy is to bring stability to the finances of Emaar Economic City, the developer of King Abdullah Economic City. * Monday 09 Sep, 2024 Saudi Arabian film industry pioneer, Faisal Baltyuor, to open first arthouse cinema in Riyadh Read more This marks a significant milestone in the kingdom's cinematic journey since the lifting of the 35-year ban on cinemas in late 2017. The state-of-the-art Cinehouse, boasting 80 seats, will open its doors in the Saudi capital later this month with inaugural film, the 1975 documentary "Development of Riyadh City". * Monday 09 Sep, 2024 Saudi Arabia's non-oil economy shows strong growth of 4.9% in Q2 2024 Read more This growth rate, as reported by the General Authority for Statistics (GASTAT), marks the highest increase in a year. Comparatively, the growth rate was 3.4 percent in Q1 of 2024, and 4.2 percent and 3.2 percent in Q4 and Q3 of 2023, respectively. * Sunday 08 Sep, 2024 NHC named largest real estate developer in GCC Read more NHC's sales surpassed SAR 13 billion in the first half of 2024. NHC currently oversees the implementation of over 130 projects throughout the Kingdom. NHC's goal is to introduce more than 300,000 housing units to the Saudi real estate market by the end of 2025. * Sunday 08 Sep, 2024 The Ministry of Sport seeks investors to develop state-of-the-art sports and hospitality complex in Madinah Read more The 29,335-square-meter site strategically positioned near major commercial centers and the second ring road, will enhance Madinah's hospitality capacity to accommodate the increasing number of visitors and pilgrims to the city. Investors will also construct football fields, swimming pools, cycling tracks, and tennis courts as part of this comprehensive project. * Sunday 08 Sep, 2024 Grand Hyatt The Red Sea and Miraval The Red Sea scheduled to open by end 2025 Read more Grand Hyatt The Red Sea will feature 430 rooms, while Miraval The Red Sea is a highly anticipated luxury wellness resort with 180 rooms, suites, and a variety of wellness amenities. Hyatt has recently announced the appointment of general managers for these two luxurious properties. * Friday 06 Sep, 2024 First Pret A Manger store and bakery-café chain Aïda to open in Saudi Arabia Read more The new Pret A Manger store will open at at Jeddah's King Abdulaziz International Airport before the end of 2024 and will be operated by franchisee SSP Group. SSP Group also plans to introduce the Vienna-based bakery-café chain Aïda with a site at King Abdulaziz International Airport. * Friday 06 Sep, 2024 WABAG secure $317 million contract to build a desalination plant in Yanbu Read more The project, awarded by the Saudi Water Authority, involves the engineering, procurement, construction, and commissioning of a 300 million liter per day sea water reverse osmosis desalination plant to produce potable water in compliance with Saudi environmental regulations, scheduled for completion within 30 months. * Friday 06 Sep, 2024 SGS CEO announces initiative to create a geological museum in Saudi Arabia Read more The Saudi Geological Survey and the Ministry of Tourism are working together to explore the potential of 150+ caves as destinations for visitors. More than 2,300 mining licenses have already been issued. Saudi Arabia's mineral wealth is estimated at $2.5 trillion, with significant reserves of gold and zinc. * NEOM Friday 06 Sep, 2024 Construction of the Trojena road project set to commence imminently Read more Mofarreh Al-Harbi & Partners is currently mobilizing manpower, equipment, and materials in preparation for the completion of the $373 million contract for the package three Trojena roads and utilities project. Trojena is slated to host the Asian Winter Games in 2029. * Friday 06 Sep, 2024 IMF report highlights success of the Housing Program in fostering social and economic stability Read more The report praised the Housing Program for increasing home ownership rates to 64%, expanding the range of housing options available, and introducing initiatives such as financing solutions provided by the Real Estate Development Fund and residential projects implemented by the National Housing Company. * Thursday 05 Sep, 2024 Saudi Arabia fastest growing international tourism market globally Read more Since 2019 international tourism spending in Saudi Arabia has risen 91.3%, more than any other country, confirming stellar growth in the Kingdom’s tourism revenue. * Thursday 05 Sep, 2024 The Avenues - Khobar set to redefine the landscape of Khobar City Read more Phase One of the ambitious SAR 7.3 billion The Avenues is ahead of schedule with 5.25% of the overall project completed. Spanning a vast area of 198,000 sq m The Avenues - Khobar features a commercial center and two multi-use towers. The first tower is home to Four Seasons and the second tower will feature Canopy by Hilton along with office spaces. * Thursday 05 Sep, 2024 PIF and Hyundai to establish a state-of-the-art auto plant in Saudi Arabia, with an investment exceeding $500 million Read more The joint venture aims to produce 50,000 vehicles annually, encompassing both internal combustion engines and electric vehicles. Production is slated to commence in 2026. Saudi Arabia's Public Investment Fund will hold a 70 percent stake in the joint venture. Hyundai Motor Co. will retain the remaining shares. * Thursday 05 Sep, 2024 IMF praises Saudi Arabia for significant progress under Vision 2030 in recent report Read more The Fund highlighted the Kingdom's resilient non-oil growth and record low unemployment rates as success indicators. The Fund notes rental prices have increased due to the influx of expatriate workers and redevelopment initiatives in major cities. * Thursday 05 Sep, 2024 Saudi Arabia to boost tourism sector by waiving municipal fees for hotels and resorts licenses Read more This policy will assist the growing tourism and hospitality industry in the country and reflects the unwavering commitment of the leadership to create an attractive investment environment for investors and improve the tourism sector's competitiveness. * Wednesday 04 Sep, 2024 Zannier Hotels to develop luxury eco-resort in partnership with NEOM Read more Located in Zardun on the coast of the Gulf of Aqaba in semi-desertic landscape teeming with native flora and fauna, the resort will feature 100 rooms and suites spread across three unique buildings, each designed to offer diverse and awe-inspiring experiences. * Hyatt Wednesday 04 Sep, 2024 Grand Hyatt The Red Sea and Miraval The Red Sea both scheduled to open by end 2025 Read more Hyatt has recently announced general managers for Grand Hyatt The Red Sea, a luxurious property featuring 430 rooms and Miraval The Red Sea, a luxury wellness resort featuring 180 rooms, suites, and wellness amenities. * Wednesday 04 Sep, 2024 Construction underway at five-star Riyadh Kempinski Hotel in the Al-Olaya business district in Riyadh Read more The 35-storey Al-Qeshan Kempinski hotel will offer 150 opulent rooms and ten serviced apartments. The hotel, expected to open in 2028, will incorporate technical and structural sustainability in design and construction. * Wednesday 04 Sep, 2024 Saudi Arabia's Fakeeh Care signs $23 million contract with Asas Al-Amar Contracting Co. Read more The contract is for the shoring, dewatering, and excavation works for the Dr. Soliman Fakeeh Masar Makkah Hospital, with a total built-up area of nearly 136,000 square meters and 200+ beds. The hospital will offer a wide range of medical services through 70 clinics, 7 operating theatres and 36 intensive care units. * Wednesday 04 Sep, 2024 Roshn Group and Tarmeem to renovate 100 homes across Saudi Arabia Read more The initiative is part of Roshn Group's Yuhyeek social responsibility program aimed at contributing to community development in the kingdom. Over 500 volunteers from Roshn Group donate their time to renovate these homes. In 2023 more than 700 citizens from 100 Saudi families benefited from the initiative. * Wednesday 04 Sep, 2024 Joint venture to build factory producing pre-stressed concrete structural components for Riyadh metropolitan area Read more Japanese Aizawa High Pressure Concrete Company and Saudi real estate developer Al Saedan for Development will promote precast concrete (PC) construction methods to meet the rising demand for prefabricated construction solutions. * Wednesday 04 Sep, 2024 Foundation works completed and structural works in progress at Ilmi Science & Technology Centre Read more The project, in Riyadh's Prince Mohammed Bin Salman Nonprofit City, is spearheaded by the Misk Foundation and will provide young people with opportunities of further study in engineering, science, technology, mathematics, literature and art. * Wednesday 04 Sep, 2024 Rize achieves Sharia certification for innovative rent payment solution Read more The certification assists property tech company Rize to offer cutting-edge payment solutions including a financial model enabling tenants to convert traditional annual rent payments into monthly installments but ensure landlords receive the full annual rent upfront. * Wednesday 04 Sep, 2024 Inaugural Warehousing and Wood Expo in Riyadh highlights logistics services and warehousing solutions and technologies Read more The expos, showcasing over 3,500 products and services, brings together warehousing, logistics, wood, and woodworking firms under one roof, serving as a platform for industry professionals. * Wednesday 04 Sep, 2024 The Saudi Public Investment Fund (PIF) has successfully raised $2 billion to support its mega-project pipeline Read more The Saudi wealth fund issued $1.5 billion in three-year sukuk and $500 million in green notes maturing in October 2032, the 4th time in 2024 that PIF has accessed the global bond market for funding. * Wednesday 04 Sep, 2024 Saudi Arabia cuts red tape, simplifies registration process to attract foreign investors Read more The government has approved a comprehensive revamp of its investment law to create a more favorable environment for international and offer attractive incentives to international companies. The reforms become law in January 2025. * GEA Tuesday 03 Sep, 2024 Construction commences on Al Khobar Aramco football stadium, venue for 2027 Asian Cup Read more The Belgian construction group BESIX is collaborating with the Riyadh-based contractor Al Bawani to construct the stadium, training pitches, and an energy plant that will supply power and cooling to the facility. * Tuesday 03 Sep, 2024 Zannier Hotels announces partnership with NEOM to develop a luxurious eco-resort in Zardun, Gulf of Aqaba Read more Zannier Zardun will offer a tranquil retreat in a semi-desert landscape teeming with native flora and fauna. Featuring 100 rooms and suites spread across three distinct buildings, Zannier Zardun offers educational programs and leisure activities such as trekking, mountain biking, and stargazing. * Tuesday 03 Sep, 2024 SEVEN to bring Flow House innovative entertainment venue to Riyadh, Jeddah, and Al Khobar Read more Flow House offers guests an immersive experience that blends indoor surfing excitement with tropical-themed entertainment, live music, upscale dining, and unique retail offerings, celebrating the vibrant surf culture all year round. * Tuesday 03 Sep, 2024 Dar concludes comprehensive design and sustainability strategy for Al Khobar Aramco Stadium Read more Dar Al-Handasah Consultants (Shair and Partners) has developed detailed design of the 47,000-spectator stadium as well as being responsible for the design of the mixed-use masterplan facilities and infrastructure. Dar has also crafted a sustainability strategy for the stadium, aiming for LEED and Mostadam certifications. * Monday 02 Sep, 2024 In July, residential mortgages provided by banks to individuals in Saudi Arabia saw 30% year-on-year to SAR 7.07 billion Read more Data, released by the Saudi Central Bank (SAMA), highlights a positive trend in the housing market. Compared to the previous month, residential mortgages experienced a substantial rise of nearly SAR 1.77 billion, representing a 33% increase. Villa mortgages accounted for 62% of the total bank financing in July, at SAR 4.38 billion. * Monday 02 Sep, 2024 The Saudi Ministry of Investment has announced updates to investment regulations facilitating foreign investment in the market Read more The revised rules are designed to simplify procedures and foster a more welcoming environment for investors. Updated regulations will eliminate the requirement for numerous licenses and approvals and are scheduled to come into effect at the beginning of 2025. * GEA Monday 02 Sep, 2024 Rotana announces the opening of Nova M Hotel Olaya Riyadh, the first Edge by Rotana property in Saudi Arabia Read more The 104-key hotel, Nova M Hotel Olaya Riyadh, located on Riyadh's prestigious Al Olaya Street, is the first Edge by Rotana property in the Kingdom, with four more properties in the pipeline - three in Riyadh and one in Al Baha. * Monday 02 Sep, 2024 Mountain View to debut in Saudi market with acquisition of first plot of land in Riyadh Read more The company has partnered with Maya Real Estate Development and Investment Company and Al Saedan Real Estate Company to secure this plot of land. Mountain View's official entry into the Saudi Arabian market marks a significant step towards the company's growth and presence in the region. * Monday 02 Sep, 2024 The Saudi Infrastructure Expo from September 24 to 26 is twice the size of the 2023 Expo Read more The third edition of the Saudi Infrastructure Expo, at the Riyadh International Convention & Exhibition Center, will feature over 400 local and international exhibitors from more than 35 countries, showcasing the latest innovations in the infrastructure industry. * Monday 02 Sep, 2024 The Saudi Heritage Commission has initiated the Al-Yamama Archaeological Project, excavating historical sites in and around Riyadh Read more From 2024 to 2028 the commission will conduct a series of archaeological surveys and excavations in Riyadh including Riyadh, Wadi Hanifah, and the surrounding areas, bringing together experts in Riyadh's antiquities and academics and students from Saudi universities and international educational institutions. * Monday 02 Sep, 2024 The National Housing Company (NHC) of Saudi Arabia reports $3.59 billion residential unit sales in the first half of 2024 Read more The 400% surge in sales can be attributed to NHC's strategic launch, as principal developer of urban communities, of multiple, sustainable housing projects across the Kingdom, aligning with the goals of Saudi Vision 2030 to increase the homeownership rate to 70 percent. * Monday 02 Sep, 2024 The AlUla Wellness Festival is set to return from October 17th to November 2nd Read more The 17-day event is the largest of its kind in the Middle East, drawing inspiration from AlUla's rich history as a lush oasis that once provided respite to travelers along the ancient incense trade route. * Monday 02 Sep, 2024 ACWA Power secures $2.6 billion in financing for three solar projects in Saudi Arabia Read more The projects are located in Haden, Muwyah, and Al-Khushaybi and will have capacities of 2,000 megawatts, 2,000MW, and 1,500MW. ACWA Power will hold a 35.1 percent stake and Badeel will hold a 34.9 percent stake in each. Financing is provided by a collaboration of Saudi and international banks. * Sunday 01 Sep, 2024 Saudi Real Estate Co.'s subsidiary Binyah awarded $176 million contract for the Green Riyadh Project Read more The project involves the construction of the "TSE Network for Green Riyadh Program - Group Eleven." With expertise in construction projects for roads, bridges, pipelines, water distribution systems and marine construction, Binyah is well-equipped to undertake the Green Riyadh Project. * Sunday 01 Sep, 2024 Architects complete design for the Royal Diriyah Opera House project Read more The opera house will be constructed by Diriyah Company and operated by the Royal Commission for Riyadh City. Slated for completion by 2028, the project will span 46,000 square meters and feature four venues: a 2,000-seater opera theatre, a 450-seater adaptable theatre, a 450-seater multipurpose theatre, a 450-seater rooftop amphitheatre, a services pavilion and retail facilities. * Sunday 01 Sep, 2024 Riyadh Development Company completes acquisition of two real estate assets from Remat for SAR 1.4 billion Read more The assets consist of a 787,480-square-meter land plot north of Dammam Road in the Al-Rimal District and a 214,000-square-meter plot south of the Northern Ring Road in the Al-Murooj District. The transaction was facilitated through a capital increase, resulting in the issuance of new shares to the seller in exchange for the assets. * Saturday 31 Aug, 2024 In the first half of 2024, 184 foreign companies relocated their regional headquarters to Saudi Arabia Read more During the second quarter of 2024, 57 companies secured investment licenses to establish their regional headquarters in Saudi Arabia, representing an impressive 84 percent annual increase. This is in addition to the 127 licenses issued in the first quarter, underscoring Saudi Arabia's commitment to attracting foreign investment and fostering a business-friendly environment. * Saturday 31 Aug, 2024 Jeddah Season 2024 attracts 1.7 million visitors Read more The recently concluded Jeddah Season was a resounding success, drawing in over 1.7 million visitors from both within the Kingdom of Saudi Arabia and beyond during its 52-day cultural and entertainment extravaganza, solidifying Jeddah's reputation as a premier tourist destination, offering a diverse array of captivating entertainment activities. * Saturday 31 Aug, 2024 Significant increase in number of factories and industrial facilities in Saudi Arabia Read more The Kingdom has undergone a 60 percent increase from 7,206 in 2016 to 11,549 between 2016-2023. The surge in factory numbers reflects Saudi Arabia's dedication in achieving its non-oil economic goals. Riyadh is home to 4,502 factories, showcasing the country's commitment to industrial growth and economic diversification. * Saturday 31 Aug, 2024 Saudi Arabia to host the Multilateral Industrial Policy Forum (MIPF) 2024 Read more The second edition of MIPF 2024, hosted in Riyadh under the theme “Transforming Challenges into Sustainable Solutions through Industrial Policies,” will see the participation of around 3,000 industry leaders, including decision-makers, CEOs, industry specialists, and experts in industrial policy development. * Saturday 31 Aug, 2024 BESIX and ALBAWANI break ground on Aramco Stadium Project Read more Construction has commenced on the Aramco Stadium, a state-of-the-art sports infrastructure project to be completed in time for the 2027 Asian Football Confederation Cup. Designed to accommodate approximately 47,000 spectators, the Aramco Stadium will offer a wide range of advanced facilities, including VIP hospitality, player accommodations, media facilities, training pitches, and parking facilities. * Saturday 31 Aug, 2024 The Boulevard Business Park, is set to open in Riyadh's Boulevard district Read more With an investment of over $270 million (Dh991 million), boosting foreign investment and job opportunities, the Business Park will add 60,000 square meters of office space to the city featuring nine office buildings with commercial spaces offering stunning views of the Boulevard City fountain. * Friday 30 Aug, 2024 More than 2.1 million individuals benefit from real estate stock exchange services since inception one year ago Read more The real estate exchange simplifies and expedites real estate procedures. Through this platform, users electronically conduct buying, selling, and transferring ownership transactions securely and efficiently, revolutionizing the real estate sector and boosting the industry in Saudi Arabia. * Friday 30 Aug, 2024 Red Sea Global launches second water aerodrome serving Shebara resort Read more The company has obtained its second operating license for a water aerodrome, a significant milestone towards opening Shebara to the world. Guests will soon have the opportunity to arrive by seaplane, a 20-minute journey, offering them a unique and unparalleled escape experience. * Friday 30 Aug, 2024 Saudi Arabia issues tender for 2,500MW Battery Energy Storage Systems (BESS) across the kingdom Read more The BESS systems will enhance efficiency of existing power plants by adjusting their operation according to system load variations, primary and secondary reserve requirements, and providing voltage and frequency regulations, significant step towards modernizing and optimizing the energy infrastructure in Saudi Arabia. * Friday 30 Aug, 2024 NEOM advances to the next stage of development with Xendee's support Read more Xendee Corporation, a leading provider of design and operation platforms for distributed energy systems and Electric Vehicle (EV) fast-charging infrastructure, is proving the roadmap enabling NEOM to enter the next phase of the project - developing microgrid-powered cities and islands with reduced dependence on both transmission projects and centralized power plants. * Friday 30 Aug, 2024 Avana and Oaktrees' $250 million deal marks milestone in Ezdaher's strategic expansion into Saudi Arabia Read more The $250 million Avana-Oaktree Private Credit Partnership (AOPCP) will fuel Avana's direct private commercial real estate funding strategy enabling Avana to replicate its model in Saudi Arabia through Ezdaher Financing Company. Leveraging Avana's know-how, Ezdaher aims to introduce innovative B2B hotel funding fintech solutions, driving growth and innovation in the financial sector. * Thursday 29 Aug, 2024 Boulevard Business Park with investments exceeding SAR 1 billion officially launched in Riyadh Read more Boulevard Business Park will transform the Boulevard District by creating a network of new urban pathways, increasing green spaces, and connecting it to neighboring projects such as the Sports Boulevard. Spanning over 60,000 square meters, the project will offer rental spaces, offices, co-working areas, retail stores, concept stores, hanging gardens, and more than 1,300 parking spaces. * Thursday 29 Aug, 2024 Tender issued for InterContinental Hotel in Dana Bay Read more Firms are invited to bid for a contract to develop a luxurious five-star beach resort in the Dana Bay area of Al-Khobar managed by the InterContinental brand, featuring 269 keys. The hotel will be located 30km from the city center and 45km from King Fahed International Airport. * Thursday 29 Aug, 2024 Saudi Arabia awards EPC contracts for three energy storage systems valued at over $800 million Read more National Grid Saudi Arabia granted the contract to Riyadh-based investment group Algihaz Holding to construct the facilities. These energy storage systems will collectively have a capacity of 7.8 gigawatt-hours (GWh) situated in Najran, Madaya, and Khamis Mushait, Saudi Arabia. * Thursday 29 Aug, 2024 NEOM seeking firms for construction tender for Shusha Island assets Read more The assets include the 245-meter-tall, 80,500 square meters Hipe tower with 293 rooms, and the 65-meter-high Grotto Entrance cave and tunnel, and the Sunset Pools. * Thursday 29 Aug, 2024 Saudi Tourism Authority launches "This Land is Calling" campaign Read more The video entices international tourists to uncover Saudi's legends and wonders while experiencing the new era of tourism growth and development, taking viewers on a captivating journey through Saudi landscapes blending ancient traditions with ambitious modern developments. * Thursday 29 Aug, 2024 UNESCO designate Al-Wahbah Crater one of world's top 100 geological heritage sites Read more Al-Wahbah Crater in Harrat Kishb, approximately 270 km northeast of Jeddah is one of the largest volcanic craters globally with a depth of 250 meters and diameter of 2.3 kilometers. It was formed 1.1 million years ago and is part of a volcanic field encompassing 175 small volcanoes covering 6,000 square kilometers. * Thursday 29 Aug, 2024 Riyadh's King Salman International Airport aims for 180 million passenger capacity by 2050 Read more Mace has been appointed as the delivery partner, while Jacobs, in collaboration with Foster + Partners, will provide concept masterplan validation, detailed masterplan design, runway design, and other essential services. * Wednesday 28 Aug, 2024 Saudi Arabia inaugurates 22nd logistics zone, aims for 59 by 2030 Read more The recently completed Maersk logistics facility in Jeddah brings the Kingdom a step closer to its goal of becoming a logistics hub for three continents with 59 logistics zones across the country enticing global trade. * Wednesday 28 Aug, 2024 Piers Morgan to participate in Riyadh's Real Estate Future Forum 2025 Read more He'll be discussing the impact of media on business growth and transformation and the significance of collaboration and teamwork in shaping the real estate sector. * Wednesday 28 Aug, 2024 The Public Investment Fund (PIF) secure $15 billion revolving credit facility Read more This revolving loan has an initial term of three years, with the option to extend for an additional two years, allowing for funds to be drawn, repaid, and drawn again. PIF has launched 95 companies since 2017, injecting SR150 billion ($40 billion) into the economy annually. * Wednesday 28 Aug, 2024 Damanat secures global strategic partnerships for Saudi mortgage market Read more The company signed cooperation agreements with BlackRock and Apollo, as well as global financial institutions, aimed at attracting foreign investment, expanding investment opportunities, and supporting the Kingdom's ambitious housing sector goals. * Wednesday 28 Aug, 2024 Red Sea International Co. (RSI) share price reaches highest level in 2.5 years Read more As of August 28, the stock was trading at SAR 44.30 per share, a 6% increase from previous levels with 1.5 million shares traded thus far. * Tuesday 27 Aug, 2024 Bena Steel Industries Company announces new steel plant in Riyadh Read more The new steel plant is projected to cost approximately $6.6 million (SAR25 million), funded through a combination of self-financing and loans from commercial banks. Completion is anticipated by October 2025 and commercial production is scheduled to commence in January 2026. * Tuesday 27 Aug, 2024 25% of the buses are set to be electric in Tabuk public transport Read more The project in Tabuk will cover four routes spanning over 128 kilometers, with 106 stops strategically placed along the routes. A fleet of 30 buses, operated by 90 drivers, will provide service for up to 18 hours a day, ensuring efficient and reliable transportation for residents and visitors alike. * Tuesday 27 Aug, 2024 Saudi Arabia posts 10.5% increase in non-oil exports during Q2 of 2024 Read more In terms of the overall export composition, the proportion of petroleum exports in total exports for the second quarter of 2024 decreased to 75%, down from 77.4% in the same quarter of the previous year, underscoring the diversification and growth of Saudi Arabia's non-oil exports. * Tuesday 27 Aug, 2024 Besix $799 million Port of NEOM expansion project progressing as planned Read more The project incorporates the design and construction of over 3 km of quay walls, the enhancement of key facilities, and the installation of state-of-the-art port equipment. * Tuesday 27 Aug, 2024 Saudi Arabia set to open its own version of the Louvre Museum in Riyadh Read more The construction of a grand museum showcasing artwork valued at approximately $500 million enlisting prominent art figures to oversee the project is aimed at attracting global tourism and establishing Riyadh as a cultural hub. * Tuesday 27 Aug, 2024 The Public Investment Fund (PIF) of Saudi Arabia has doubled investment portfolio value Read more Focused on developing and enhancing emerging sectors, the portfolio was valued at EUR 231 billion by end 2023, a testament to the PIF's strategic efforts to support the Kingdom's transformation and diversify its revenue sources. * Sunday 25 Aug, 2024 Riyadh Development Co., Riyadh Holding Co. sign $405m joint venture agreement to operate Qasr Al-Hukm markets Read more The collaboration will leverage the combined expertise of both companies in the development and management of strategically located lands in the heart of Riyadh, encompassing Al-Taamir Markets, Al-Muaiqiliyah Center, and Al-Dira Markets and signifies a significant step towards enhancing growth, innovation and the commercial landscape in the Qasr Al-Hukm area. * Saturday 24 Aug, 2024 Neom Green Hydrogen Company (NGHC) recruiting for world's largest green hydrogen plant at Oxagon Read more NGHC recently hosted its first virtual career fair over two days, which garnered over 9,000 registrations, aiming to attract top talent from applicants eager to be a part of the energy transition in Saudi Arabia. The career fair provided a platform for participants to engage with NGHC's talent acquisition team and hiring managers and learn more about the exciting career opportunities. * Thursday 22 Aug, 2024 BESIX Consortium progress update on Port of NEOM Development Read more The project entails the design and construction of over 3 kilometers of quay walls, the enhancement of existing facilities, and the installation of state-of-the-art port equipment. The total value of the contract is approximately SAR 3 billion of which BESIX-MBL joint venture is responsible for around 50%. * Thursday 22 Aug, 2024 Egis Joint Venture Secures Contract for Madinah Bus Rapid Transit Project Read more Egis confirms the project aims to establish up to 500 stations, achieving 80-90% area coverage by 2030 ensuring convenient travel for visitors, reducing traffic congestion, and providing a safe and sustainable mode of transportation for residents, visitors, and pilgrims. The joint venture will be responsible for safety and security management of various systems, including buses, depots, intelligent transportation systems (ITS), operational systems, as well as civil works such as bus lanes, stations and stops, footbridges, and park-and-ride facilities. * Wednesday 21 Aug, 2024 The National Water Company (NWC) successfully completes construction and operation of three Riyadh water reservoirs Read more These water reservoirs have been strategically placed to ensure a consistent and reliable water supply in Diriyah Governorate and Hattin and Al Nakheel districts. Total investment in these projects amounts to over 43 million Saudi Riyals. * Wednesday 21 Aug, 2024 Saudi National Housing Company (NHC)Al Forsan subub project progress is accelerating Read more Over 41% of the infrastructure work of the first phase is completed and the superstructure is 32% finished. The Al Forsan Suburb project in Riyadh is moving swiftly towards its goals, showcasing the dedication and efficiency of the NHC team. * Wednesday 21 Aug, 2024 Saudi Arabia's Neom to introduce flying electric ships to its water network Read more Neom has placed an order for eight Candela P-12 electric shuttle ships, marking the largest order ever for Candela. This innovative addition to Neom's transportation system showcases the project's commitment to cutting-edge technology and sustainability. * Wednesday 21 Aug, 2024 Jacobs (NYSE:J) selected for airport masterplan Read more The company will provide concept masterplan validation, detailed masterplan design, runway design, and other essential services for the King Salman International Airport in Riyadh, encompassing 57 square kilometers and six parallel runways, new terminals, and real estate development. * Wednesday 21 Aug, 2024 Mace selected as delivery partner by King Salman International Airport Development Company (KSIADC) Read more Global consultants and construction experts Mace will oversee the planning and construction of its airport development program in Riyadh providing a comprehensive range of delivery partner services for the six-runway airport including project and program management, PMO and planning, construction management, cost and commercial management, procurement, logistics, health and safety strategy, sustainability. * Tuesday 20 Aug, 2024 Barber Chain Expands with Third Location in Riyadh, Saudi Arabia Read more Barber Chain Expands with Third Location in Riyadh, Saudi Arabia Barber has recently opened its newest location on Othman Bin Affan Road in Riyadh, adding to its successful establishments on Tahlia Street in Al Olaya and Anas Bin Malik Street in Al Yasmeen. Specializing in casual Lebanese cuisine, Barber is renowned for its rich culinary heritage and inviting atmosphere. * Sunday 18 Aug, 2024 Darco Real Estate announces launch of groundbreaking SR485 million project in Jeddah's vibrant waterfront area Read more This collaboration between Darco Real Estate, SEDCO Capital, and Sahem Financial Platform spans 20,000 m2, boasting 28 buildings housing over 500 luxurious residential units, 600 parking spaces, and a plethora of recreational and sports facilities. * Sunday 18 Aug, 2024 Global design firm, Populous, unveils stadium project designs and masterplan in Al Khobar Read more The seating arrangement ensures a world-class viewing experience for football enthusiasts, with unobstructed views from all seat. Aramco Stadium's visually striking architectural designs makes it a likely location for 2030 World Cup events. * Saturday 17 Aug, 2024 PIF firm readies Jeddah mixed-use project award covering 123,000 m2 Read more Saudi Arabia's Public Investment Fund (PIF)-backed real estate firm, Saudi Real Estate Company (Al-Akaria) is gearing up to award the contract for its Porta Jeddah project in Jeddah, including a four-star hotel, office building, two retail and food and beverage buildings, a leisure and cinema building, open areas, and other associated infrastructure. * Friday 16 Aug, 2024 NEOM hosts inaugural Social Responsibility Awards ceremony Read more NEOM aims to acknowledge and celebrate outstanding contributions of its employees, sectors, departments, partners, and communities in the region. Sustainability is a fundamental pillar of NEOM, driving innovation and initiatives that generate a lasting, positive impact. * Friday 16 Aug, 2024 Qiddiya Performing Arts Centre to serve as the flagship cultural asset of Qiddiya City Read more The venue is a focal point for the Kingdom's cultural progression, emphasizing the country's preservation, celebration, and rich heritage of Saudi Arabia and standing at the forefront of technological innovation in the arts, integrating Artificial Intelligence (AI) and Augmented Reality (AR) to elevate visitor experience and push boundaries of artistic expression. * Friday 16 Aug, 2024 Riyadh Metro to alleviate city traffic congestion Read more The Riyadh Metro is anticipated to accommodate 1.2 million passengers daily initially, with the potential to increase to 3.6 million at full capacity. Segments of the 176 km system may be operational by the end of this year or early 2025. * Friday 16 Aug, 2024 PIF firm prepares to award Jeddah mixed-use project contract Read more The Public Investment Fund (PIF)-backed real estate firm, Saudi Real Estate Company (Al-Akaria), is evaluating bids for its Porta Jeddah project, a mixed-use development, spanning approximately 123,000 m2. The development will feature a four-star hotel, an office building, two retail and food and beverage buildings, a leisure and cinema building and open areas. * Friday 16 Aug, 2024 The Nova M Hotel Olaya Riyadh, an Edge by Rotana property set to open in the final quarter of 2024. Read more Situated in the heart of Al Olaya Street, this centrally located hotel will boast 104 rooms and suites that seamlessly blend contemporary style with practicality. * Friday 16 Aug, 2024 Riyadh initiates prequalification process for what is set to become the world's largest airport Read more The King Salman International Airport Development Company, backed by Saudi Arabia's Public Investment Fund (PIF), is seeking contractors to submit their Statements of Qualifications (SoQs) for various development contracts related to the King Salman International Airport (KSIA) in Riyadh. The deadline for submission is 16 August. * Friday 16 Aug, 2024 Retail giant LuLu Group expands in Saudi Arabia opening a LuLu Express store in Al Rawdah, Dammam Read more Covering 10,000 square feet, this new LuLu Express store is a testament to LuLu Group's dedication to providing top-notch products and services to its customers in Saudi Arabia. * Friday 16 Aug, 2024 Diriyah Company unveils stunning designs for the Wadi Safar Equestrian and Polo Club Read more This breathtaking project inspired by Najdi architecture is part of the prestigious Wadi Safar master-planned community. Diriyah Company has recently awarded a whopping $2.1 billion contract for the construction of the Equestrian and Polo Club, as well as four opulent hotels, including the renowned Six Senses brand. * Thursday 15 Aug, 2024 Saudi Automotive Services Co. (SASCO) announces opening of three new stations in Riyadh and Jazan Read more Two of these stations are located on King Faisal Road and King Abdulaziz Road in Jazan, while the third is situated on King Abdulaziz Road bin Abdulrahman in Al Bijadiyah, Riyadh. The company plans to launch a total of 50 new stations through 2024. * Thursday 15 Aug, 2024 15 stadiums will be located in and around four cities in Saudi Arabia as part of its official bid submission to FIFA Read more The cities are Riyadh, Jeddah, Al Khobar, and Abha, and The Line. The ambitious plan includes the construction of 11 new stadiums with three already in the process of being built. This strategic distribution of stadiums across key cities aims to provide optimal accessibility and accommodation for players and fans. * Thursday 15 Aug, 2024 teamLab Borderless Museum in Jeddah has drawn in 52,000 visitors since opening on June 10th Read more This immersive art museum, situated in Jeddah's UNESCO-protected Historic District, is a collaboration between the Saudi Ministry of Culture and the innovative Japanese art collective teamLab, and features more than 80 interactive digital art installations, enhancing the city's reputation as an emerging global tourist destination. * Thursday 15 Aug, 2024 Lucid Motors opens full-service Studio and service center in Jeddah Read more The facility expands Lucid's presence in the country and provides comprehensive sales and maintenance support to meet the increasing demand for its award-winning Lucid Air, marking an exciting milestone for Lucid Motors as it continues to grow and innovate in the electric vehicle industry. * Thursday 15 Aug, 2024 Schindler Olayan secures The Avenues – Riyadh project in Saudi Arabia Read more Schindler Olayan secures The Avenues – Riyadh project in Saudi Arabia Schindler Olayan is providing a total of 293 elevators, escalators, and moving walks for phase one of the development, covering 1.8 million m2. Schindler Olayan's scope of work for this project includes the installation of 134 Schindler 5500 elevators (comprising 45 passenger elevators and 89 service elevators), one Schindler 2600 elevator, 150 Schindler 9300 escalators, and eight Schindler 9500 moving walks. * Thursday 15 Aug, 2024 Diriyah Co. announces a US$2 billion agreement with Urbacon Saudi Co. and Al-Bawani Group for the Wadi Safar project Read more This project encompasses the Royal Diriyah Equestrian and Polo Club, a golf course and luxurious resorts from Aman, Oberoi, Faena, and Chedi, underscoring a commitment to a large-scale luxury residential development. The resorts are scheduled to open gradually starting in 2026. * Thursday 15 Aug, 2024 The Royal Commission for AlUla (RCU) and the SETI Institute partnership empowers AlUla Manara Observatory space research, education, and astro-tourism Read more This collaboration aims to enhance the observatory's capabilities and solidify its position as a leading institution in the field. The RCU and the SETI Institute are working together to drive the development of the AlUla Manara Observatory, paving the way for groundbreaking discoveries and innovative advancements in the field of astronomy. * Thursday 15 Aug, 2024 NEOM receives bids for Magna Jaumur early works Read more NEOM receives bids for Magna Jaumur early works The tender was issued on July 15th, with a deadline of August 5th. The scope of the early works package includes site preparation, excavation, and haulage of materials in the marina, canal, and quayside areas. Jaumur is set to become a vibrant mixed-use community, boasting 1,200 residential units and two hotels offering a total of 350 rooms. * Thursday 15 Aug, 2024 ACWA Power Co. announces start of operations at 700 MW Ar Rass 1 solar photovoltaic plant Read more With a 40.1% stake in Ar Rass Solar Energy Co., ACWA Power has further established itself as a major player in the renewable energy sector. The financial impact of this exciting development will be unveiled in the latter half of 2024. Get ready for a bright future with ACWA Power leading the way in sustainable energy solutions. * Wednesday 14 Aug, 2024 Fakeeh Care's HEAL Hospital construction is set to commence in 2025 in Jeddah Read more The hospital will be situated on 24,000m² of leased land and will boast a total of 200 beds, along with specialized zones dedicated to neuroscience. The project is estimated to cost around $122.6 million, covering expenses for construction, furnishings, furniture, and medical equipment. * Saturday 10 Aug, 2024 Construction is progressing on the Misk Foundation headquarters in Prince Mohammed Bin Salman Nonprofit City (Misk City) in Riyadh Read more Expected completion of the four-storey, 19,200 m2 headquarters building will boast is by the end of 2025. The $154 million contract spans 21 months from the commencement of construction. Prince Mohammed Bin Salman Nonprofit City is set to be a hub of innovation, featuring academies, colleges, Misk schools, a conference center, a science museum, and a creative center. * Friday 09 Aug, 2024 Saudi developer Knowledge Economic City (KEC) issues tender for Al-Alyaa mixed-use project in Medina Read more The tender notice was released on 13 June, with a bid submission deadline of 22 July. Al-Alyaa is a 269,000 square-meter mixed-use development including 1,500 residential apartments, a 120-key hotel, offices, and various hospitality and retail facilities. * Friday 09 Aug, 2024 Diriyah anounces Wadi Safar Golf Course completion Read more This landmark development will elevate Diriyah's status as a global tourism destination. Designed by Greg Norman, CEO of LIV Golf Investments, the premium Wadi Safar golf course is a key facility that includes a driving range and a short game area. * Friday 09 Aug, 2024 Neom is seeking proposals from firms for the site preparation works on the Treyam and Gidori resorts in Gulf of Aqaba region Read more Neom is seeking proposals from firms for the site preparation works on the Treyam and Gidori resorts in Gulf of Aqaba region The tender deadline is 12 August and includes site preparation, excavation, and haulage of all materials in the marina, canal, and quayside areas for Treyam luxurious 250-room resort and Gidori 200 private villas, 190 apartments, an 80-key boutique hotel, and an 18-hole golf course. * Thursday 08 Aug, 2024 Red Sea International Co.'s subsidiary, The Fundamental Installation for Electric Work Co. Ltd., secures SAR 253.09 million construction contract Read more The contract was signed on August 14 with Modern Building Leaders Co. (MBL) and entails the supply, installation, testing, and calibration of mechanical, electrical, and plumbing works for one of MBL's projects. * Thursday 08 Aug, 2024 Saudi Arabia unveils plans for the NEOM Stadium, a state-of-the-art sports facility located within the Line Read more The NEOM Stadium is one of 15 impressive structures included in Saudi Arabia's bid for the 2034 World Cup bid. With a pitch positioned over 1,100 feet above ground, the stadium will have a seating capacity of over 45,000 spectators. The stadium will operate on renewable energy sources. Transportation systems within the city will be fully electric. * Thursday 08 Aug, 2024 NEOM invites companies to submit bids for the initial phase of Oxagon residential village package Read more The tender was issued on July 7th, and the deadline for bid submission is September 19th. The Oxagon residential village is set to be constructed on a vast area spanning 1.5 square kilometers. * Thursday 08 Aug, 2024 Saudi Arabia unveils plans for 24,500 km2 Prince Mohammed bin Salman Royal Reserve Read more The Crown Prince of Saudi Arabia has just announced a groundbreaking initiative to develop the massive reserve as a global example of environmental conservation and ecotourism covering environmental, economic, social, tourism, and cultural aspects. A 70,000 square kilometre environmental corridor by 2025. will connect major projects NEOM, AMAALA, Red Sea Global, and AlUla, creating a network of sustainable development initiatives. * Saturday 03 Aug, 2024 The partnership between Kempinski Hotels and Sheikh Abdul Kareem Abdullah Al Qeshan has officially entered the construction phase Read more The luxurious Kempinski Al Qeshan Hotel is set to be located in the bustling Al Olaya business district on King Fahad Road, surrounded by banks, restaurants, and boutiques. This prime location promises to offer guests a truly unforgettable experience in the heart of the city. < 123456789101112 > UPCOMING EVENTS Smart Cities Saudi Expo 24 - 26 September 2024 Riyadh International Convention & Exhibition Center 24 Sep, 2024 6th edition of Intersec Saudi Arabia from 1-3 October 2024 Riyadh International Convention & Exhibition Centre 01 Oct, 2024 The Global Logistics Forum 2024 on October 12 to 14 in Riyadh, King Abdullah Financial District 12 Oct, 2024 Riyadh Real Estate Exhibition 2024 in November at Riyadh International Convention & Exhibition Center 01 Nov, 2024 Real Estate Future Forum 27 to 29th January 2025 Four Seasons Hotel Kingdom Center in Riyadh 27 Jan, 2025 Big 5 Construct Saudi. Riyadh Front Exhibition & Conference Center 15 - 27 February 2025 15 Feb, 2025 TOP PICKS * GEA The Boulevard Business Park set to open in Riyadh's Boulevard district With an investment of over $270 million boosting foreign investment and job opportunities, the Business Park will add 60,000 square meters of office space. * Diriyah company Equestrian and polo center to be built at Wadi Safar in Diriyah The club will serve as a venue for international tournaments and landmark in the Kingdom's tourism industry. * New King Salman International Airport in Riyadh to revolutionize aviation industry Combining customer-centric vision and cutting-edge technology, it will open in 2030. NEWSLETTER Get exclusive content and insights from the world of real estate you can trust delivered to your inbox. 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