Company Insights Red Sea Global Real Estate Red Sea Global News Business of Sport Red Sea Global builds on adventure sports tourism Red Sea Global (RSG), the Red Sea and Amaala mega-project developer, has launched a new company to boost sports tourism in Saudi Arabia. Akun, meaning “to be”, is a new adventure sports company that will operate and manage adventure and sports experiences at RSG destinations, including gravel- mountain-, fat-tyre and electric biking, trail running and […] May 2, 2023 Tourism Sustainability looms large at Arabian Travel Market 2023 Ahead of Dubai hosting one of the world’s largest travel conferences, key stakeholders in the emirate’s travel and hospitality industry have been keen to stress its sustainability credentials. Centred on the theme Working Towards Net Zero, this year’s Arabian Travel Market (ATM) on May 1 to May 4 is expected to draw in 34,000 attendees […] May 1, 2023 Tourism Red Sea Global bucks trend as Saudis take on hospitality roles Saudi nationals are flocking to the kingdom’s Red Sea Global mega-project to take up jobs in the multi-billion dollar development. One of the areas in the project, simply named The Red Sea, is on track to welcome its first guests in 2023 when the initial hotels open. Upon full completion in 2030, the project will […] March 6, 2023 Construction Value of Saudi project contracts doubled to $24.6bn in 2022 The value of giga-project related contracts awarded in Saudi Arabia in 2022 grew by 103 percent to $24.6 billion from $12 billion the previous year. As the kingdom accelerates activity towards achieving its Vision 2030 economic diversification goals, Neom saw the highest number and value of awarded contracts, especially on infrastructure works on The Line. […] February 24, 2023 Construction PIF buys stakes in construction firms as Saudi boom continues Saudi Arabia’s Public Investment Fund (PIF) has spent $1.3 billion buying “significant” minority stakes in four local construction companies, the sovereign wealth fund said in a statement on Tuesday. The kingdom is enjoying a building boom, with projects valued at more than $1.1 trillion underway and a further $64 billion of construction contracts forecast to […] February 14, 2023 Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023 Tourism Saudi outpaces neighbours as prime tourist destination In the space of only three years, Saudi Arabia has been transformed into the biggest Arab market for international tourists. Religious tourism has traditionally been one of the few ways visitors could enter the kingdom, with 2019 records revealing 9.5 million pilgrims visited the holy cities of Mecca and Medina between the Hajj and Umrah. […] January 26, 2023 Analysis Banking and Finance Bargain buys and law reforms tipped to drive deal-making When Oman Qatar Insurance and Vision Insurance signed a merger pact in December, it rounded off a busy year of M&A activity in the Middle East. The proposal, which is still subject to approval from regulators and shareholders, was one of hundreds of deals struck across the region. Global law firm Norton Rose Fulbright predicts […] January 25, 2023 Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023 Analysis Tourism Gulf in sustainable tourism push as legislation looms When the first tourists arrive to experience the Red Sea Global sustainable tourism destination in Saudi Arabia later this year, they will touch down at an airport run entirely by renewable energy and designed to include shaded areas and natural ventilation that minimises reliance on air conditioning. They will continue their journey to a resort […] January 12, 2023 Posts navigation Previous 1 … 6 7 8 Next
Business of Sport Red Sea Global builds on adventure sports tourism Red Sea Global (RSG), the Red Sea and Amaala mega-project developer, has launched a new company to boost sports tourism in Saudi Arabia. Akun, meaning “to be”, is a new adventure sports company that will operate and manage adventure and sports experiences at RSG destinations, including gravel- mountain-, fat-tyre and electric biking, trail running and […] May 2, 2023
Tourism Sustainability looms large at Arabian Travel Market 2023 Ahead of Dubai hosting one of the world’s largest travel conferences, key stakeholders in the emirate’s travel and hospitality industry have been keen to stress its sustainability credentials. Centred on the theme Working Towards Net Zero, this year’s Arabian Travel Market (ATM) on May 1 to May 4 is expected to draw in 34,000 attendees […] May 1, 2023
Tourism Red Sea Global bucks trend as Saudis take on hospitality roles Saudi nationals are flocking to the kingdom’s Red Sea Global mega-project to take up jobs in the multi-billion dollar development. One of the areas in the project, simply named The Red Sea, is on track to welcome its first guests in 2023 when the initial hotels open. Upon full completion in 2030, the project will […] March 6, 2023
Construction Value of Saudi project contracts doubled to $24.6bn in 2022 The value of giga-project related contracts awarded in Saudi Arabia in 2022 grew by 103 percent to $24.6 billion from $12 billion the previous year. As the kingdom accelerates activity towards achieving its Vision 2030 economic diversification goals, Neom saw the highest number and value of awarded contracts, especially on infrastructure works on The Line. […] February 24, 2023
Construction PIF buys stakes in construction firms as Saudi boom continues Saudi Arabia’s Public Investment Fund (PIF) has spent $1.3 billion buying “significant” minority stakes in four local construction companies, the sovereign wealth fund said in a statement on Tuesday. The kingdom is enjoying a building boom, with projects valued at more than $1.1 trillion underway and a further $64 billion of construction contracts forecast to […] February 14, 2023
Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023
Tourism Saudi outpaces neighbours as prime tourist destination In the space of only three years, Saudi Arabia has been transformed into the biggest Arab market for international tourists. Religious tourism has traditionally been one of the few ways visitors could enter the kingdom, with 2019 records revealing 9.5 million pilgrims visited the holy cities of Mecca and Medina between the Hajj and Umrah. […] January 26, 2023
Analysis Banking and Finance Bargain buys and law reforms tipped to drive deal-making When Oman Qatar Insurance and Vision Insurance signed a merger pact in December, it rounded off a busy year of M&A activity in the Middle East. The proposal, which is still subject to approval from regulators and shareholders, was one of hundreds of deals struck across the region. Global law firm Norton Rose Fulbright predicts […] January 25, 2023
Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023
Analysis Tourism Gulf in sustainable tourism push as legislation looms When the first tourists arrive to experience the Red Sea Global sustainable tourism destination in Saudi Arabia later this year, they will touch down at an airport run entirely by renewable energy and designed to include shaded areas and natural ventilation that minimises reliance on air conditioning. They will continue their journey to a resort […] January 12, 2023
