Transport Saudi Arabia signs $690m passenger train order Saudi Arabia Railways (SAR) has signed a $690.16 million contract with Stadler, a Swiss rail infrastructure and train manufacturer, for 10 “next-generation” passenger trains for its growing railway network. The state-owned rail network operator can order an additional 10 units in the future, state-run SPA news agency reported. Trains will be 175 metres long, self-propelled […] February 7, 2024
Leisure & Hospitality 100m tourists in Saudi Arabia spend $27bn Saudi Arabia hosted more than 100 million tourists last year, who collectively spent SAR100 billion ($26.67 billion), tourism minister Ahmed Al-Khateeb has revealed. The total was made up of 77 million domestic and 27 million international tourists, the minister told the second edition of the Public Investment Fund (PIF) private sector forum. Al-Khateeb said that […] February 7, 2024
Leisure & Hospitality Neom aquaculture venture seeks fish self-sufficiency Saudi Arabia’s mega-project Neom has set up a joint aquaculture venture with Tabuk Fisheries Company of Riyadh to meet the kingdom’s goal of producing 600,000 tonnes of fish products annually by 2030. The companies signed a memorandum of understanding in 2021 to set up Topian Aquaculture. The new venture will include a hatchery that is […] February 7, 2024
Food & Drink Air corridor for Abu Dhabi aims to support food security Abu Dhabi is planning to establish an air corridor for perishable goods in a bid to develop new trade routes and support the UAE’s food security efforts. Etihad Cargo, Abu Dhabi Airports and Abu Dhabi Food Hub – Kezad have signed a tri-party memorandum of understanding. Abu Dhabi Food Hub is the country’s first dedicated […] February 5, 2024
Leisure & Hospitality Saudi Arabia nears deal to create new cycling league SRJ Sports Investments, wholly owned by the Public Investment Fund (PIF), has backed a new cycling league, Reuters reported, citing three people familiar with the matter. The company, founded last year, is negotiating a potential investment of €250 million ($270 million) in the venture, which is spearheaded by major European cycling teams. If successful, this […] February 4, 2024
Leisure & Hospitality Cenomi Centers sells Riyadh shopping mall for $53m Arabian Centres Co., know as Cenomi Centers and Saudi Arabia’s largest shopping mall operator, has sold Sahara Plaza in Riyadh for SAR200 million ($53.33 million). The shopping centre is the fourth asset to be sold as part of the company’s programme to sell a portfolio of non-core assets worth SAR2 billion. Sahara Plaza has been […] February 4, 2024
Leisure & Hospitality Arabic publishers pushing writers to aim for lucrative prizes Publishing houses are pressuring Arabic authors to produce novels that will win prestigious book prizes or be turned into TV dramas and films, writers and publishers said at a literary festival in Dubai this week. Arabic publishing has become a lucrative industry for those shortlisted for the Abu Dhabi-funded International Prize for Arabic Fiction – […] February 2, 2024
Business of Sport Sobha Realty strikes sponsorship deal with Arsenal Dubai real estate developer Sobha Realty has secured the naming rights for the training ground of English Premier League football club Arsenal. Arsenal’s facility in Hertfordshire will be known as the Sobha Realty Training Centre. It is the first time the naming rights have been sold. The deal is part of Sobha’s plan to expand […] February 2, 2024
Opinion Business of Sport Saudi Arabia should saddle up for soft power of horses There is a strong rationale for the kingdom to take equestrian pursuits seriously February 2, 2024
Business of Sport Saudi’s PIF ‘in talks’ to invest in British rugby Saudi Arabia’s Public Investment Fund is said to be in talks to buy stakes in four British rugby clubs. British media has reported that discussions are taking place to pay a total of £60 million ($76 million) for shares in a quartet of top-tier clubs: Gloucester, Leicester Tigers, Newcastle Falcons and Northampton Saints. This […] February 1, 2024
Tourism Emirates visa on arrival ‘huge’ boost for Indian visitors Emirates airline has introduced a pre-approved 14-day single-entry visa on arrival for Indian travellers. Industry experts told AGBI the initiative will open up a fresh segment of travellers to Dubai and revive plateauing tourist inflow from India, while also helping Emirates compete against more economical Indian airlines. The service is designed to expedite the entry […] February 1, 2024
Tourism Oman hotel licence limits signal ‘desire to enhance quality’ The decision by Oman to impose restrictions on new hotel developments across the sultanate demonstrates a focus on quality over quantity, an industry analyst says. From February 1, Oman’s Ministry of Heritage and Tourism will not accept any requests for new hotels in the Muscat governorate, aside from Quriyat and Al Amerat. Applications for hotel […] February 1, 2024
Trade UK agrees instant two-year visas for Saudi nationals Saudi Arabian nationals can obtain instant two-year multiple entry visas to the UK for business, tourism and study visits following a deal made during a British business delegation trip to the kingdom this week. “The new visa offers a validity period of up to two years and multiple entries during the validity period, in addition […] February 1, 2024
Analysis Retail The perks and pitfalls of the UAE’s retail loyalty sector When customers consistently fly with Emirates or buy their daily coffee at Tim Hortons, the chances are high that they are members of a loyalty programme – and companies deploy them to ensure they return to the brand. But UAE consumers are increasingly discerning about the brands and products with which they interact. “The direct […] February 1, 2024
Leisure & Hospitality Fitness brands shape up for Saudi expansion plans GymNation, founded in Dubai, has revealed plans to open 50 new fitness centres in Saudi Arabia as it seeks to capitalise on the kingdom’s billion-dollar fitness industry. The mid-market brand was set up six years ago and currently operates 11 gyms in the emirate, with a further six set to open before the summer. Founder […] February 1, 2024
Tourism Turkey’s tourism revenue hits record $54.3bn in 2023 Turkey’s tourism revenues hit a record high of $54.32 billion in 2023, rising 17 percent from $46.48 billion in 2022, Turkish Statistical Institute data showed. Individual travellers contributed $41.61 billion to the total tourism income, while package tours added $13.25 billion. The official data showed that in the fourth quarter of last year tourism revenues […] February 1, 2024
Construction Five Holdings plans ultra-luxury Pacha Ibiza residences Dubai developer Five Holdings plans to build ultra-luxury residences in Ibiza following the completion of a $57 million hotel and land deal. The UAE real estate and hospitality group has acquired El Hotel Pacha and an adjacent land plot where it plans to build Pacha Residences, using the branding of the Balearic island’s most famous […] January 31, 2024
Food & Drink Dubai drinks supplier raises a glass to Dry January Drink Dry, a Dubai-based supplier of non-alcoholic beverages, has reported a 20 percent bump in sales during Dry January, defying a traditional post-festive period slump in the hospitality sector. Dry January is an initiative launched in the UK by Alcohol Change in 2013. It involves consumers abstaining from alcohol for the first month of the […] January 31, 2024
Opinion Real Estate Landlords must keep up with changing retail markets or fail Saudi Arabia's mall owners need to be aware of the needs of developers and tenants January 31, 2024
Analysis Agriculture UAE in talks to buy more African land to aid food security The UAE has 14 land acquisition deals in the pipeline, mainly in Africa, as it looks to keep food security high on its policy agenda. It has already signed 56 land agreements, with the first completed more than 50 years ago in Sudan. The 14 deals are subject to either an expression of interest, a […] January 31, 2024
Leisure & Hospitality Top Turkish holiday resort reports hotel rates at record highs The Turkish holiday destination Antalya saw hotel rates in 2023 rise 19.35 percent year on year. The average daily rate (ADR) for hotels in Antalya reached €172.1 ($186.21), Hürriyet Daily News reported, citing data from the Hotel Association of Türkiye (TÜROB). The revenue per available room (RevPAR) rose 8 percent year on year to €96.8. […] January 31, 2024
Real Estate Tecom profit rises 49% on growing customer demand Tecom Group saw net profit for 2023 rise 49 percent year on year to AED1.1 billion ($299.48 million) on robust demand from new and existing customers across all its six business clusters. The company registered broad-based growth across the business, owing to the group’s ongoing efforts to enhance operations and reduce costs. Revenue reached a […] January 31, 2024
