New Murabba, a Public Investment Fund company, and the U.S. Green Building Council (USGBC) have signed a Memorandum of Understanding in Washington, D.C., establishing a framework to explore collaboration in sustainable urban development. The agreement focuses on applying global sustainability frameworks like LEED across the New Murabba project. New Murabba has also joined the USGBC as a Platinum member, signalling a deep commitment to sustainability leadership in creating a new destination in Riyadh.
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.
Dar Al Majed Real Estate has entered a major partnership with the Jadwa 47 Fund, managed by Jadwa Investment Company, to build a high-quality mixed-use project in Riyadh. The development, located on King Salman Road next to the SABB station, covers over 8000 square meters. Its estimated total development cost is approximately one billion riyals. Dar Al Majed will act as the exclusive developer and holds an option to invest 50 million riyals in the fund
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.
Saudi Arabia has introduced a five-year rent freeze in Riyadh, halting increases for residential and commercial properties as part of new rules approved by the Cabinet. The measures, effective from 25 September, aim to curb rising rental costs and strengthen protections for both landlords and tenants.
Kimpton makes its long-awaited Middle East debut with the opening of Kimpton KAFD Riyadh, a 212-room luxury lifestyle property in the heart of the capital’s King Abdullah Financial District, blending contemporary elegance with the brand’s signature playful approach to hospitality.
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