Saudi’s PIF sets up Al Balad Development Company to transform Jeddah’s historic district
Saudi’s Public Investment Fund (PIF) has established Al Balad Development Company (BDC). The launch of BDC aligns with PIF’s strategy to diversify Saudi Arabia’s economy through developing and enabling strategic sectors, including real estate and tourism – in line with the goals of Vision 2030. The company will be the primary developer of Al Balad […]
NEOM’s Sindalah welcomes MB92 for yacht repair facility
Saudi Arabia’s $500 billion futuristic city, NEOM and the leading superyacht maintenance company, MB92 Group, have harnessed a partnership to establish a 10,000 square-meter repair facility for yachts at NEOM’s luxury island and yachting destination on the Saudi water of the Red Sea, Sindalah. The partnership aligns with the imminent opening of Sindalah during 2024 […]
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 […]
Roshn unveils Marafy, to redefine urban living in Jeddah
In a significant stride towards enhancing Saudi Arabia’s real estate landscape, Roshn Group and the Public Investment Fund (PIF) have jointly launched Marafy, a modern mixed-use development poised to redefine urban living in the north of Jeddah. The development is projected to accommodate over 130,000 residents. It boasts a groundbreaking 11-kilometre-long manmade canal at its heart. […]
Ireland-based Kerten Hospitality to operate the House Residence in OXAGON
Ireland-based leading hospitality investment firm Kerten Hospitality has entered into a partnership in order to operate the House Residence in NEOM’S OXAGON. According to the statement, Kerten Hospitality will enter its House Residence brand in OXAGON, home to advanced and clean industries in NEOM. This move will further Kerten Hospitality’s ambitious expansion across the Kingdom […]
Riyadh gets Middle East’s first Holiday Inn with open lobby concept
IHG Hotels and Resorts recently opened the Holiday Inn Riyadh The Business District in Saudi Arabia. The new property features the brand’s first open lobby concept in the Middle East. The concept combines all public spaces, including the reception area, restaurant and bar, into one cohesive space. The open lobby includes a media lounge, a […]