Saudi economy enters trillion dollar club: report
A report by the Federation of Saudi Chambers , issued on the occasion of the kingdom’s 93rd National Day, revealed that the kingdom’s gross domestic product (GDP) reached SAR4.155tn, exceeding the ceiling of $1tn for the first time. This achievement has made the kingdom a member of the ‘trillion-dollar’ club and marks the achievement of the […]
Marriott announces two new properties in NEOM’s Trojena
Marriott International has signed an agreement with NEOM to open two luxury properties including Saudi Arabia’s first W Hotel and a JW Marriott hotel in Trojena. Trojena which is currently under construction is NEOM’s mountain destination located in the northwest of Saudi Arabia will be the host venue for the 2029 Asian Winter Games. “We […]
EFG Hermes concludes advisory on Lumi Rental’s $290m IPO
EFG Holding’s investment banking division , EFG Hermes, has completed advisory on the $290m initial public offering (IPO) of Saudi Arabia’s Lumi Rental Company. EFG Hermes acted as a joint bookrunner on the IPO. Lumi Rental’s public offering marks EFG Hermes’ fifth IPO this year and is the latest in a series of transactions the […]
Soudah Peaks: Saudi Crown Prince Mohammed bin Salman launches new luxury destination masterplan
In a bid to transform the picturesque mountainous region of Soudah into a luxury mountain tourism destination, Saudi Crown Prince Mohammed bin Salman has officially launched the ambitious project known as “Soudah Peaks.” This initiative will bring a touch of opulence to the pristine mountains, situated at an impressive elevation of 3,015 meters above sea […]