DAMAC Properties has launched DAMAC Islands 2, its seventh master community in Dubai, with a focus on redefining waterfront living. The development draws inspiration from eight picturesque island destinations including Antigua and Mauritius. Building on the success of DAMAC Islands, the new project features crystal lagoons, lush landscapes and wellness-focused designs. The launch event at the Coca-Cola Arena was hosted by Hussain Sajwani and Amira Sajwani. Star appearances were made by Bollywood actors Ranbir Kapoor and Alia Bhatt.
Saudi Arabia is aggressively pursuing its Vision 2030 goal of becoming a global tourism leader. This ambition is supported by an US$800 billion investment in giga-projects. To propel this growth, the inaugural WTM Spotlight Riyadh will gather international travel industry professionals in the capital from 29 September to 1 October 2026. Organisers expect over 450 exhibitors and 6,500 visitors. The goal is to stimulate new partnerships and investment.
Vend Park, a company dedicated to transforming commercial real estate parking, has successfully secured $17.5 million in Series A funding. The investment was led by Blue Heron Capital and included participation from Nuveen’s Real Asset Ventures. The capital will be used to fund expansion into major U.S. markets and accelerate the development of its AI-powered platform.
Red Sea Global’s ultra-luxury destination, AMAALA Triple Bay, is set to open in the coming months, marking a major milestone in Saudi Arabia’s Vision 2030. The developer, RSG, made the announcement at the inaugural TOURISE Summit, confirming the debut of six world-class luxury resorts and a range of exclusive facilities including a yacht club and a marine life institute. The total completed first phase will feature nine resorts and over 1,600 keys.
Aldar has finalised a deal with AD Ports Group to acquire two institutional-grade logistics assets in KEZAD for AED 570 million. The transaction significantly expands Aldar’s industrial and logistics footprint across the UAE. The acquired Grade A facilities are fully leased to Noon and Emtelle. The assets benefit from direct connectivity to Khalifa Port and Etihad Rail. This acquisition aligns with Aldar’s strategy to scale its recurring income platform.
UN Tourism has partnered with UMusic Hospitality & Lifestyle (UMHL) and the Center for Music Ecosystems (CME) to leverage music tourism for job creation and economic growth in high-growth economies. The new Memorandum of Understanding, announced at the UN Tourism General Assembly in Riyadh, aims to position the creative industries as a transformative force through tourism. The collaboration will use the influence of global figures, including newly appointed UN Tourism Ambassador Khabane Lame, to promote music as a viable path to economic mobility.
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