KAFD DMC has signed a memorandum of understanding with Osool Integrated Real Estate Company to evaluate new property investments in Riyadh. The non-binding deal aims to address the rising demand for prime commercial and residential space within the financial district. The collaboration follows a recent SAR 12 billion financing facility raised by the district operator.
Vietnamese developer Sun Group has formed a strategic alliance with Singaporean operator The Ascott Limited. The deal introduces 1,700 premium accommodation rooms across Ho Chi Minh City and Phu Quoc. Four distinct international hospitality brands will be deployed to capture diverse traveler demographics. Notably, the partnership debuts the lifestyle concepts lyf and HARRIS in Vietnam, aiming to prolong visitor stays and elevate local tourism competitiveness.
Miraval Resorts and Spas has opened its first international location, Miraval The Red Sea, on Shura Island in Saudi Arabia. Announced on 9 June 2026, the 180-room adults-only wellness retreat blends the brand's mindfulness philosophy with local heritage. The eco-friendly resort features the largest spa on the island, plant-forward dining and specialised wellness programs powered completely by renewable energy.
Reportage Group has officially started construction on Sensi, a luxury housing development situated on Saadiyat Island in Abu Dhabi. The groundbreaking event took place on 05 June 2026, just five months after the initial project launch. This marks the developer's first project in the culturally significant district, aiming to deliver upscale architecture combined with competitive pricing for investors and homeowners.
The World Travel & Tourism Council has named Meliá Hotels International as its newest global member. The Spanish hospitality brand operates more than 400 properties across 46 countries. This strategic partnership aims to drive public-private sector collaboration and accelerate sustainable practices within the global tourism industry.
The Public Investment Fund of Saudi Arabia has signed a non-binding agreement with Talaat Moustafa Group Saudi for Real Estate Development. The partnership intends to explore mixed-use property opportunities across the asset portfolio of the wealth fund. This initiative directly supports the newly launched urban development and livability ecosystem within the strategic 2026-2030 roadmap of the sovereign fund.
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