Saudi Arabia plans to deliver more than 300,000 new housing units in Riyadh over the next three years, Minister of Municipalities and Housing Majed Al-Hogail said on Sunday, underscoring the Kingdom’s push to balance supply and demand in its real estate market.
W Hotels, part of Marriott Bonvoy’s portfolio, is set to enter Saudi Arabia with the opening of W Riyadh – KAFD this spring. Located in the heart of the King Abdullah Financial District, Riyadh’s landmark urban development, the hotel will feature 210 guestrooms, including 17 suites, two penthouses, and the W Penthouse.
Topsoe has been selected as ammonia technology licensor for ACWA’s Yanbu Green Hydrogen project in Saudi Arabia. Its technology will convert green hydrogen into ammonia and includes engineering, proprietary equipment, and catalysts for FEED contractors Sinopec and Técnicas Reunidas.
ShaikhTech, a Middle East-based technology company involved in proptech, has announced the beta launch of AmanaVest, its global investment access platform designed to enable global investors to explore curated real estate and other investment opportunities in Saudi Arabia.
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.
The Kingdom of Saudi Arabia stands to benefit from the ongoing shifts in global supply chains - from fair trade to a managed and rule-driven trade model - as it can play a vital role as a connector economy linking Africa with Europe and Asia, said its economy minister.
After years of bold ambition and heavy investment, artificial intelligence adoption in both Saudi Arabia and UAE is entering a more performance-driven phase amid reports that AI could contribute $135 billion to the kingdom’s economy and $96 billion to the emirates' economy by 2030, said an expert.
Saudi Arabia has become a major global player in tourism, with the sector now contributing approximately 5% of the kingdom’s GDP and accounting for nearly 5% of total employment, said Ahmed Al-Khateeb, Minister of Tourism of the Kingdom of Saudi Arabia.
The King Abdulaziz Center for World Culture (Ithra) has shortlisted five artists for the seventh edition of the Ithra Art Prize, which celebrates artists from or based in the 22 Arab countries, one of the most established art awards in the Middle East and the Arab region. '
Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth in Jeddah on April 22 and 23, it was announced on the closing day of the 56th Annual Meeting of the Forum in Davos, Switzerland.
