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.
Global lifestyle operator Kerten Hospitality is expanding its presence in Saudi Arabia with the announcement of the Cloud 7 Al Murjan Island Resort - Dammam. Located on the Eastern Province waterfront, the resort is part of a visionary mixed-use development combining hospitality, leisure, entertainment, and wellness. The resort will introduce a distinctive coastal concept featuring 74 overwater chalets. It will also include Nyssa Beach, a ladies-only beach club offering extensive wellness, spa, and fitness facilities designed to support the Dammam women's community.
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.
Simon, a real estate investment trust and S&P 100 company, has announced the acquisition of the retail centre component of Phillips Place in Charlotte, North Carolina. This transaction, announced on 18 November 2025, sees Simon take ownership of the open-air retail space in the SouthPark neighbourhood. The retail centre spans 134,000 square feet and is famous for its specialty shops and dining. Phillips Place is a wider mixed-use destination that already included a 180+ room hotel owned by Simon, along with a multi-family residential component.
Riyadh-based developer Liwan Real Estate Development has announced Liwan Najd, a SAR 4.5 billion ($948 million) mixed-use development, at Cityscape Global 2025. The project will feature approximately 2,500 residential units across various types, located next to the Al Yarmuk Metro Station in the Granada District. Spanning 151,308 sqm with a 600,000 sqm built-up area, over 60% of the project will be dedicated to open and landscaped areas.
Henderson Land Development has formally unveiled its new landmark project, Central Yards, situated on the New Central Harbourfront in Hong Kong. This ambitious, sustainable mixed-use development will feature over 1.6 million square feet of gross floor area. The project is a major component of the developer’s HK$63 billion harbourfront investment, secured via a record HK$50.8 billion land bid in 2021. The development is split into two phases, with the first scheduled to open in 2027.
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