Marriott International has reached a milestone of 100 combined open and pipeline hotels in Saudi Arabia following the signing of an agreement with a fund managed by SEDCO Capital for a 1,100 room Courtyard by Marriott in Makkah.
Saudi-based Umm Al Qura for Development and Construction Company has entered into a deal with Arabian Dyar Real Estate for the sale of a 3,061 sq m plot of land within Masar Destination in Makkah. This prime plot will be used for development of residential units.
Saudi authorities have announced a major overhaul of Makkah city's road infrastructure under a series of integrated projects. It includes completion of the first, second, third and fourth ring roads, which now form an 105km interconnected network.
Riyad Capital, a leading investment manager, has entered into a deal with Saudi Railway to set up a SAR6 billion ($1.6 billion) real estate fund aimed at developing a mixed-use project based on the Transit Oriented Development (TOD) model on a 90,000 sq m area in Makkah.
King Salman Gate, a transformative multi-use development in the Holy City of Makkah, has been announced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Arabia's Crown Prince, Prime Minister and Chairman of the Board of Directors of RUA AlHaram AlMakki Company.
The Saudi Arabia Ministry of Tourism inaugurated its new offices in Makkah and Madinah regions as part of its strategic initiative to enhance the efficiency of services within the tourism sector.
Global hospitality major Hilton has announced the opening of two new properties in Makkah - DoubleTree by Hilton Makkah Aziziyah and Wirgan Al Noor, Tapestry Collection by Hilton - nearly doubling its presence in the Saudi city and expanding its hospitality offerings for the millions of pilgrims and travellers who visit each year.
Saudi Arabia’s Real Estate General Authority has announced that the new laws allowing foreign companies as well as expats to own a wider range of local real estate assets have officially come into effect. With this, all provisions are now enforceable under the national real estate framework.
Saudi-based Umm Al Qura for Development & Construction Company has announced that its landmark urban project - Masar Development - in Makkah city has been awarded LEED Gold certification, one of the highest international certifications in sustainability and built environment.
Saudi-based Umm Al Qura for Development and Construction Company has awarded major contracts worth SAR4.1 billion ($1.1 billion) to Mobco and BEC Arabia Contracting Company for the completion of two major development packages at its Masar Destination in Makkah city.
