Rikaz, a leading Saudi real estate developer, has forged a strategic cooperation agreement with global design firm PLP Architecture to create the distinctive Rikaz Tower in Al Khobar. Announced at Cityscape 2025, the 63,780 square metre mixed-use development near the Corniche will feature two towers: one for private apartments and another for a luxury 150-room hotel and 80 branded hotel-serviced residential units. It is a key investment in the luxury hospitality and residential markets with an expected launch in 2026.
Cushman & Wakefield's Senior Director, Aaron Barnard, SIOR, CCIM, has officially taken up the role of President-Elect for The Society of Industrial and Office Realtors® (SIOR). Serving a one-year term on the SIOR Board of Directors, his appointment was confirmed at the organisation's Fall 2025 conference in Louisville, Kentucky. Based in Bloomington, Minnesota, Mr Barnard is a 33-year veteran of the commercial real estate sector, specialising in investment analysis and leasing programmes across various US markets.
Riyad Capital and Mountain View KSA have collaborated to launch a new residential development fund with a value of SAR 1.7 billion, equivalent to $453 million. The fund's purpose is to finance the "ONE Mountain View" project, a semi-gated community in Riyadh's Al Rimal District. The development will cover over 152,000 square meters and deliver more than 500 residential units, targeting the demand for family-oriented housing. The community is planned to include large green spaces and a dedicated community hub, The Lighthouse.
Domicil Real Estate AG and its principal shareholder, Baywobau, have secured a major residential complex in Berlin's Treptow-Köpenick district through an asset deal. The property, located in Altglienicke, features 18 buildings with 143 residential units and is set for immediate individual sale. The complex, built in 1996, had recently undergone significant refurbishment including roof, facade, and window replacement work. The transaction's advisors included JLL as broker, Osborne Clarke providing legal counsel to Domicil, and BCLP advising the seller.
The National Housing Company (NHC), Hassan Allam Holding and Tilal Real Estate alliance have sealed a strategic agreement at Cityscape Saudi Arabia 2025. This collaboration will launch their first mixed-use project in Riyadh's Khozam District, spanning over 228,000 m². The development represents an investment exceeding SAR 3.3 billion and directly supports Saudi Arabia’s Vision 2030 Housing Program.
JLL’s Hotels & Hospitality Group has hired Louis Barruel as Senior Vice President in its Hotels’ Asset Management division. Mr. Barruel will work from the Montreal office, focusing on client service delivery and growing the firm's portfolio throughout Canada. Mr. Barruel reports to Executive Vice President Katie Krieger, who noted his comprehensive Canadian market knowledge and deep sector understanding make him an invaluable addition.
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