#Saudi Arabia

Chalhoub group to operate centre from Riyadh Integrated

Chalhoub Group to open fulfillment centre at Riyadh Integrated

Set to open in mid-2025, the fulfillment centre located in the kingdom’s first special integrated logistics zone will serve as a flagship centre for the region

Transformers

World’s first Transformers-themed attraction to be launched in Saudi Arabia

Spanning over 10,000 square metres, the indoor entertainment centre will open at Al Hamra district of Riyadh

Flyadeal

Online travel marketplace Wego joins forces with flyadeal to enable direct flight bookings

The airline currently operates scheduled flights to 17 domestic destinations across Saudi Arabia and six in Europe, Middle East and Africa

CISOs

Over 60% CISOs in UAE, Saudi Arabia voice concerns over cyber resilience preparedness

New research from Trellix highlights the critical resource gaps reported by two in three CISOs surveyed across the UAE and Saudi Arabia

Cloud7 Residence AlUla (Image: Supplied by Kerten Hospitality)

Kerten Hospitality’s project size in Saudi to reach SAR1.5bn in 2023

The group has launched The Collective by Kerten Hospitality initiative to unify its efforts across all the projects in the kingdom

Flynas A320 new aircraft (Image: Supplied by flynas)

Saudi’s flynas receives three Airbus aircraft

It includes two new A320 neo and one widebody A330 aircraft

Aramco’s Abha bulk plant

Saudi Aramco Q1 profit drops to $31.9bn on lower oil prices

Global crude oil prices declined in the first quarter of 2023 mainly driven by macroeconomic events contributing to market volatility

Red Sea

Saudi Red Sea developer weighs public offering as soon as 2026

The firm is in early talks with banks and stakeholders, John Pagano, chief executive of Red Sea Global, said in an interview, without disclosing details on advisers, banks or valuation

Kimpton Riyadh Saudi Arabia signing ceremony (Image: Supplied by IH Hotels and Resorts)

IHG to debut Kimpton brand in Saudi Arabia by 2024

The new-build Kimpton Riyadh will be located within the King Abdullah Financial District

Saudi Arabia

Saudi Arabia’s economy grew 3.9% in Q1 of 2023

Economic expansion was driven by a 5.8 per cent increase in non-oil activities

Saudi Arabia banking sector

How Saudi Arabia’s banking system is building a solid future

Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector

Abdulla Almoayed, founder and CEO of Tarabut Gateway

Tarabut Gateway raises $32m to fund Saudi expansion

The open banking platform plans to use the proceeds of the Series A funding round to accelerate growth in Saudi Arabia

CBUAE - interest rate

Most GCC central banks raise interest rates tracking US Fed move

Central banks in the GCC usually track the Fed’s policy rate moves as their currencies are pegged to the US dollar

Saudi tourism

From ancient history to modern luxury, Saudi Arabia’s tourism offerings continue to expand

Saudi tourism is set to surge with significant investments being made throughout the kingdom to enhance both religious and non-religious tourism 

Amsa Hospitality

Amsa Hospitality, Accor join forces to bring 18 new hotels to Saudi by 2032

The agreement will see Amsa Hospitality develop a range of Accor’s economy and midscale brands while also acting as the third-party operator by leasing and franchising the assets

Aramco, PIF and China’s Baosteel steel JV

Aramco and PIF set up JV to build steel plant with China’s Baosteel

The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate

Rotana at ATM (Image: Supplied by Rotana)

ATM 2023: Rotana to have 120 operational hotels by 2030

Saudi Arabia and Egypt will be the key markets for the group’s expansion in the region

Four Seasons NEOM resort

Four Seasons to develop new island resort in NEOM’s Sindalah

The resort will feature 225 guest rooms and suites with terraces overlooking the beaches of the Red Sea

economy

Insights: The journey of building global businesses from a thriving economy

Jessica Wong, managing partner at eWTP Arabia Capital looks at how Saudi Arabia is uniquely placed to leapfrog innovation hurdles and build businesses with global impact

Aman Wadi Safar (Image: Supplied by Diriyah)

Aman Group to open two properties in Saudi Arabia’s Diriyah

Aman Wadi Safar will include 78 keys, while Janu Diriyah will feature 120 guest rooms

courtesy CMRC twitter Amanat Holdings merger

UAE-based Amanat Holdings acquires majority stake in Sukoon via merger with CMRC

The merger, which creates the largest post-acute care provider in the GCC, places Amanat Holdings in a strong position to benefit from the significant post-acute care bed gap across Saudi Arabia and UAE

Knight Dragon’s Sammy Lee

How Knight Dragon plans to revolutionise Saudi Arabia’s real estate landscape

The developer shares the same vision as the authorities in Saudi Arabia and the company plans to open an office in Riyadh in Q4 2023

Wemade

Saudi Arabia partners with South Korea’s Wemade to enhance gaming and blockchain sector

The partnership will focus on various initiatives such as training programmes, educational content, game localisation and sponsorship of regional events

The Chedi Hegra (Image: Supplied by The Royal Commission for AlUla)

The Chedi Hegra to open in Saudi Arabia’s AlUla

The boutique hotel will feature 35 guest rooms and is expected to open to by Q4 2023

United Group

Saudi Telecom to buy United Group towers for EUR1.2bn

Tawal, which is making its first foray into Europe through the acquisition, already owns more than 16,000 towers

Saudi Arabia, UAE confirm the first day of Eid Al Fitr

The crescent Moon that signals the end of the holy month of Ramadan was spotted in the kingdom and the UAE on Thursday

Kamikochi, Nagano Prefecture (Image: Supplied by Aviareps on behalf of JNTO)

All UAE residents can now apply for eVisas for Japan

New visa application rules have also been announced for Saudi nationals and residents in Saudi Arabia, as well as citizens of Qatar

Saudi construction

An overview of the latest trends in the Saudi construction sector

The Saudi Arabian construction sector is undergoing a period of dynamic evolution, as the monarchy seeks to diversify its economy and increase foreign investment

IHG Hotels and Resorts announces the lunch of Holiday Inn Express brand in Saudi Arabia (Image: Supplied by IHG Hotels and Resorts)

Holiday Inn Express to open first Saudi property in Riyadh

The 200-key new-build property will open in the capital’s Olaya district in 2026

UAE

Eid Al Fitr 2023 likely to start on April 22 in UAE

The Eid Al Fitr holiday begins at the end of Ramadan and UAE residents are looking forward to a four or five-day weekend this year