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.
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.
UN Tourism has appointed influential digital creator Khaby Lame as its newest Ambassador during the General Assembly in Riyadh, Saudi Arabia. This partnership is aimed at engaging digital-first audiences globally. In his new role, Mr. Lame will use his platform to promote responsible tourism, advocate for sustainable practices, and support cultural heritage. His work will focus on showcasing tourism as a powerful vehicle for development, job creation, and unity.
IHG Hotels & Resorts has signed a dual management agreement with Mosa bin Abdul Aziz Al-Mosa and Sons Real Estate Holding Co. to launch two new hotels in Saudi Arabia. The hotels are the 232-key Crowne Plaza Al Khobar Al Bandariyah and the 106-key Holiday Inn Riyadh Rose Yard. The Crowne Plaza is expected to open in Q1 2027 near the Corniche, while the Holiday Inn, opening in late 2026, will feature the brand’s modern Open Lobby concept in Riyadh’s Al-Suwaidi district.
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
Saudi Arabia is aggressively pursuing its Vision 2030 goal of becoming a global tourism leader. This ambition is supported by an US$800 billion investment in giga-projects. To propel this growth, the inaugural WTM Spotlight Riyadh will gather international travel industry professionals in the capital from 29 September to 1 October 2026. Organisers expect over 450 exhibitors and 6,500 visitors. The goal is to stimulate new partnerships and investment.
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