Aleph Hospitality has expanded its footprint in Saudi Arabia with new hotel management agreements and projects, bringing its national portfolio to 11 properties totalling 2,354 keys. Announced at the Future Hospitality Summit in Dubai, the growth spans major cities including Riyadh, Jeddah, Makkah, the Eastern Province and Abha, with the group targeting 20 hotels in the Kingdom by 2030.
Red Sea Global (RSG) has secured SAR 6.5 billion ($1.73 billion) in green financing from a consortium of Saudi banks to accelerate the development of AMAALA, its flagship luxury wellness destination on the Red Sea coast. Led by Riyad Bank, the facility aligns with RSG’s Green Loan Framework and marks the company’s latest milestone in sustainable tourism investment.
Sumou Real Estate Company has signed a SAR135 million ($36.01 million) contract with Diyar Real Estate Development Company, managed by Sedco Capital, to deliver infrastructure works for a 960,000-sq-m project in Jeddah’s North Obhur district. The two-year project is expected to positively impact Sumou’s financial performance.
Riyad Capital has partnered with the Saudi Railway Company (SAR) to establish a SAR 6 billion real estate fund for a mixed-use Transit Oriented Development project in Makkah. Located near the Haramain High-Speed Railway Station, the 90,000-square-metre site will feature hotels, commercial centres, and residences, supporting Saudi Vision 2030’s goals of urban growth and investment diversification.
Saudi Minister of Municipalities and Housing Majed Al-Hogail will begin a tour of China and South Korea to boost cooperation in real estate, urban technology, and smart cities. The trip will include signing agreements for 100,000 new homes by 2030 and furthering partnerships with leading Asian firms, in support of Saudi Vision 2030’s urban development goals.
The Red Sea EDITION has officially opened as the first hotel on Shura Island, marking a defining moment in Saudi Arabia’s luxury tourism evolution. Developed in collaboration with Red Sea Global, this 240-room beachfront resort embodies a new era of sustainable hospitality and refined simplicity, powered entirely by renewable energy and designed in harmony with the surrounding natural beauty of The Red Sea.
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