Sumou Real Estate Company has signed a SAR135 million ($36.01 million) contract with Diyar Real Estate Development Company, managed by Sedco Capital, to deliver infrastructure works for a 960,000-sq-m project in Jeddah’s North Obhur district. The two-year project is expected to positively impact Sumou’s financial performance.
Plymouth Industrial REIT has agreed to a $2.1 billion acquisition by Makarora Management LP and Ares Alternative Credit funds in an all-cash transaction valued at $22 per share. The deal, approved unanimously by Plymouth’s Board, offers shareholders a 50% premium and is expected to close in early 2026, subject to regulatory and shareholder approval.
Hilton has announced plans to double its presence in Oman with the signing of three new hotels at Muscat’s Barr Al Jissah, including the Sultanate’s first Waldorf Astoria. Opening in January 2026, the Waldorf Astoria Muscat Al Husn, Hilton Muscat Al Bandar, and DoubleTree by Hilton Muscat Al Waha will introduce 680 new rooms, 15 dining venues, and extensive leisure facilities to Oman’s tourism landscape.
MERED has announced a collaboration with Pritzker Prize-winning architects Herzog & de Meuron for the Riviera Residences, a landmark development on Abu Dhabi’s Al Reem Island. Featuring over 400 apartments and 12 bespoke villas, the project draws on the city’s pearl-diving heritage and will debut in November 2025.
Property Finder has secured $250 million in debt financing from Ares Credit Funds to accelerate its growth across the MENA region. The funding will support AI-driven solutions, product innovation, and strategic partnerships while reinforcing the company’s position as the region’s largest property platform.
Hyatt Hotels Corporation and Homeinns Hotel Group have signed a master franchise agreement to launch 50 Hyatt Studios hotels across China’s emerging cities. The collaboration expands Hyatt’s upper-midscale footprint and reinforces its long-term growth strategy in one of its key global markets.
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