Makkah’s Masar Destination Receives $667 Million Boost For Makkah’s Hospitality Sector
Makkah’s hotel landscape is set for a transformative upgrade with a $666.6 million investment in the much anticipated new Masar destination.
January 16, 2024
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Makkah’s hotel landscape is set for a transformative upgrade with a $666.6 million investment in the much anticipated new Masar destination.
In a significant move to revolutionize the construction industry with sustainable technology, Partanna Arabia and ROSHN Group have partnered to potentially construct a cutting-edge carbon-negative concrete production facility.
Adel Real Estate has launched Dammam’s largest urban residential development project spanning 5.6 million square meters named ‘Adel District’.
Saudi Arabia has introduced a new system for the sale and rental of off-plan Real Estate projects in the Kingdom.
The Avenues Khobar Project has secured $1.16 Billion in funding to develop the first phase of
this highly anticipated development.
Marriott International has announced that it has begun construction of the new Ritz-Carlton hotel in Diriyah which is due to open in 2026. The five-star hotel is to be located within the $63 Billion Diriyah Giga Project and is due to feature 195 guest rooms and 34 luxury suites.
The first Elie Saab Branded Residences have been launched in Riyadh. Dar Al Arkan, a leading Saudi real estate company, has launched Etoile by Elie Saab in the SEDRA community in northern Riyadh which is located close to King Khalid International Airport.
Saudi Arabia’s National Housing Company launches 757 new residential units in Jeddah across two projects, Med Sadeem and Khayal Hostel, featuring villas, townhouses, and apartments with modern amenities.
Both projects are being implemented under the National Housing Company’s Public Private Partnership scheme taking their total new residential projects this year to 46.
Knight Frank, a leading global property consultancy, has announced an agreement with the Saudi Ministry of Municipal and Rural Affairs and Housing to drive investment opportunities in the kingdom’s public parks and urban spaces.
Thakher Development Company received the “Best Infrastructure Developer” award at the Saudi Building & Infrastructure Awards 2023 in Riyadh. Thakher’s Makkah project which is valued at 26 billion Saudi riyals, aims to host 30 million Umrah performers and six million pilgrims by 2030.
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