Company Insights Red Sea Global Real Estate Red Sea Global News Tourism Halo Space to manufacture capsules in Saudi Arabia Spanish company Halo Space plans to localise most manufacturing of its high-altitude balloon capsule to Saudi Arabia, it said this week before its first test launch in the kingdom. The Madrid-based startup is due to stage an unmanned test flight from the Al-Aflaj oasis 330km south of Riyadh within the next two weeks, depending on […] September 18, 2024 Giga-projects Red Sea Global to open Thuwal island resort in weeks Saudi giga-project Red Sea Global will open hotels at a second site within weeks and more at a third location will open next year, the luxury resort developer said this week. The company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), will open a private island called Thuwal just north of Jeddah, followed by […] August 23, 2024 Giga-projects Saudi infrastructure provider signs on for The Rig giga-project Saudi adventure tourism project The Rig has contracted a local company to develop the infrastructure for one of the kingdom’s more outlandish giga-projects. The Public Investment Fund (PIF) company said International Maritime Industries (IMI) had formally agreed to provide maritime logistics and infrastructure for the project, which has an ambitious target date of 2027. The […] August 21, 2024 Tourism Tourist spending in Saudi Arabia hit new high in 2023 Around 27 million international tourists spent SAR141 billion riyals ($37.6 billion) in Saudi Arabia in 2023, the highest figure yet. The international spending, published on X by the ministry of tourism, was a 44 percent rise on 2022 and compares to the previous high of SAR103.4 billion spent by 17.5 million inbound tourists in 2019, […] August 15, 2024 Tourism ‘Space balloon’ to launch from Saudi Arabia Spain’s Halo Space said this week that Saudi Arabia will be one of the regular launch sites for its commercial near-space balloon project, giving a boost to ambitious Saudi tourism plans. An unmanned test flight will take place in the second half of September from a location in the Al-Aflaj oasis 330km south of Riyadh, […] August 9, 2024 Analysis Giga-projects Chinese builders pitch modular tech for giga-projects Chinese contractors are leveraging their size and access to innovative construction techniques to lay claim to increasing numbers of projects in Saudi Arabia, as the kingdom’s massive development push puts pressure on resources. Some $1.25 trillion in giga-projects, spanning the residential, commercial and hospitality sectors, are in the pipeline across the vast and arid Saudi […] July 8, 2024 Giga-projects Saudi university working to improve ‘green concrete’ Saudi Arabia’s King Abdullah University of Science and Technology (Kaust) is developing direct carbon capture for buildings with the “green concrete” construction company Partanna. The Bahamas-based startup has already begun supplying a number of Saudi giga-projects with its concrete that absorbs carbon dioxide. These include housing company Roshn, tourist resort operator Red Sea Global and […] July 5, 2024 Leisure & Hospitality Eight sites to open at Amaala Red Sea resort in 2025 Saudi Arabia’s Red Sea giga-project Amaala is to open its first phase in 2025 with seven resorts and a yacht club, the company said this week. Red Sea Global – the Public Investment Fund project that owns Amaala – said the resorts to open would be Clinique La Prairie Health Resort, Jayasom Wellness Resort, Rosewood […] July 1, 2024 Tourism Saudi Red Sea resorts aim for 19m tourists by 2030 Saudi Arabia hopes to attract 19 million tourists a year to its Red Sea giga-projects and other resorts being built along the country’s west coast. Mohammed Al Nasser, CEO of the Saudi Red Sea Authority, said it intends to issue licences for up to 60 marinas over the next two years. It recently licensed six […] June 27, 2024 Video length: 07:15 Analysis Tourism Hajj pilgrims feel the pinch as costs rise The costs of Hajj are getting ever higher for pilgrims coming from around the world to perform the annual rites, which are a duty for every able-bodied Muslim to perform once in a lifetime. Even pilgrims coming from within Saudi Arabia, for whom the costs are cheaper, are paying around SAR23,500 ($6,266) for up to […] June 14, 2024 Posts navigation Previous 1 2 3 … 8 Next
Tourism Halo Space to manufacture capsules in Saudi Arabia Spanish company Halo Space plans to localise most manufacturing of its high-altitude balloon capsule to Saudi Arabia, it said this week before its first test launch in the kingdom. The Madrid-based startup is due to stage an unmanned test flight from the Al-Aflaj oasis 330km south of Riyadh within the next two weeks, depending on […] September 18, 2024
Giga-projects Red Sea Global to open Thuwal island resort in weeks Saudi giga-project Red Sea Global will open hotels at a second site within weeks and more at a third location will open next year, the luxury resort developer said this week. The company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), will open a private island called Thuwal just north of Jeddah, followed by […] August 23, 2024
Giga-projects Saudi infrastructure provider signs on for The Rig giga-project Saudi adventure tourism project The Rig has contracted a local company to develop the infrastructure for one of the kingdom’s more outlandish giga-projects. The Public Investment Fund (PIF) company said International Maritime Industries (IMI) had formally agreed to provide maritime logistics and infrastructure for the project, which has an ambitious target date of 2027. The […] August 21, 2024
Tourism Tourist spending in Saudi Arabia hit new high in 2023 Around 27 million international tourists spent SAR141 billion riyals ($37.6 billion) in Saudi Arabia in 2023, the highest figure yet. The international spending, published on X by the ministry of tourism, was a 44 percent rise on 2022 and compares to the previous high of SAR103.4 billion spent by 17.5 million inbound tourists in 2019, […] August 15, 2024
Tourism ‘Space balloon’ to launch from Saudi Arabia Spain’s Halo Space said this week that Saudi Arabia will be one of the regular launch sites for its commercial near-space balloon project, giving a boost to ambitious Saudi tourism plans. An unmanned test flight will take place in the second half of September from a location in the Al-Aflaj oasis 330km south of Riyadh, […] August 9, 2024
Analysis Giga-projects Chinese builders pitch modular tech for giga-projects Chinese contractors are leveraging their size and access to innovative construction techniques to lay claim to increasing numbers of projects in Saudi Arabia, as the kingdom’s massive development push puts pressure on resources. Some $1.25 trillion in giga-projects, spanning the residential, commercial and hospitality sectors, are in the pipeline across the vast and arid Saudi […] July 8, 2024
Giga-projects Saudi university working to improve ‘green concrete’ Saudi Arabia’s King Abdullah University of Science and Technology (Kaust) is developing direct carbon capture for buildings with the “green concrete” construction company Partanna. The Bahamas-based startup has already begun supplying a number of Saudi giga-projects with its concrete that absorbs carbon dioxide. These include housing company Roshn, tourist resort operator Red Sea Global and […] July 5, 2024
Leisure & Hospitality Eight sites to open at Amaala Red Sea resort in 2025 Saudi Arabia’s Red Sea giga-project Amaala is to open its first phase in 2025 with seven resorts and a yacht club, the company said this week. Red Sea Global – the Public Investment Fund project that owns Amaala – said the resorts to open would be Clinique La Prairie Health Resort, Jayasom Wellness Resort, Rosewood […] July 1, 2024
Tourism Saudi Red Sea resorts aim for 19m tourists by 2030 Saudi Arabia hopes to attract 19 million tourists a year to its Red Sea giga-projects and other resorts being built along the country’s west coast. Mohammed Al Nasser, CEO of the Saudi Red Sea Authority, said it intends to issue licences for up to 60 marinas over the next two years. It recently licensed six […] June 27, 2024
Video length: 07:15 Analysis Tourism Hajj pilgrims feel the pinch as costs rise The costs of Hajj are getting ever higher for pilgrims coming from around the world to perform the annual rites, which are a duty for every able-bodied Muslim to perform once in a lifetime. Even pilgrims coming from within Saudi Arabia, for whom the costs are cheaper, are paying around SAR23,500 ($6,266) for up to […] June 14, 2024