Residential transactions, which accounted for 58.7% of all real estate deals by total value, registered a -16% fall in the number of deals to just under 150,000 sales between January and November 2023, according to global property consultancy Knight Frank’s Winter 2023/24 Saudi Residential Market Review report. The total number of real estate transaction volumes across all asset classes in Saudi Arabia slipped by -17% in 2023 to just over 177,000, while the total value of all deals declined by -9% to SAR 197.7 billion, Knight Frank says. Faisal Durrani, Partner – Head of Research, MENA, explained: “The residential market has experienced…
Author: Content Writer
Once home to the Saudi royal family, Diriyah is rich in history, culture, and tradition. The town is only about 12 miles northwest of the capital city Riyadh, and one of its districts was declared a UNESCO World Heritage Site in 2010. With Diriyah’s history and beauty, the Kingdom of Saudi Arabia decided to include it as part of its Saudi Vision 2030, a government program to increase economic, social, and cultural diversification. For Diriyah, that goal means meeting a target of 27 million local and international visitors by 2030. Diriyah Gate, a mixed-use project to attract those visitors, will…
Etihad Cargo, the cargo and logistics arm of Etihad Airways, has launched SecureTech. This new product is the ninth addition to the carrier’s suite of premium products and is dedicated to the safe and secure transportation of consumer electronics, including mobile phones, laptops, tablets and other lithium battery-powered devices. Etihad Cargo has developed and launched SecureTech in response to growing global demand from the carrier’s customers and partners for a product that addresses the challenges of transporting high-value electronic devices cost-effectively while minimising risks. To ensure the secure transportation of electronic devices, Etihad Cargo provides several security features. Products transported…
Following an overwhelming response from discerning buyers, property developer AMIS is thrilled to announce that The Woodland Residences, a groundbreaking luxury real estate project valued at AED 425 million, has been completely sold out within a week of its launch. Boasting a sellable area of 220,000 sqft, the development elevates the concept of branded residences from mere aesthetics and marketing to seamless product integration within unit interiors. AMIS is collaborating with Laminam to bring Automobili Lamborghini branded surfaces to every villa within the project. The remarkable success of The Woodland Residences underscores the unparalleled demand for meticulously crafted residences that redefine luxury…
Saudi Arabia’s Vision 2030 programme seeks to transform the Kingdom into a global logistics powerhouse as it seeks to diversify its economy away from oil. The country aims to maximise the geographical advantage of its strategic position connecting Asia, Europe and Africa and provide cost-effective, transparent, and agile logistics services to streamline operations. In part, those ambitions will be reached through bold infrastructure projects, such as upgrading existing ports and terminals and developing new ones, to quadruple its annual container throughput to 40 million TEU by 2030. Saudi Arabia has also set its sights on enhancing the number and quality…
Devmark, the UAE’s leading real estate project sales and marketing consultancy and ABA Group, alongside the luxury hotel management company Kempinski Group, are delighted to announce the launch of Kempinski Marina Residences, Dubai. Devmark has been appointed as the Master Agent for the sales and marketing of Kempinski Marina Residences, Dubai. The development will feature a curated collection of 453 sophisticated apartments, ranging from one-bedroom to five-bedroom duplexes, located in one of the last prime locations within Dubai Marina. Kempinski Marina Residences, Dubai, is the residential offering from the Kempinski Group, renowned for its elegant design and meticulously crafted properties,…
King Abdullah Financial District Development & Management Company (KAFD DMC) today awarded a contract for the complete fitout design and implementation for the district’s latest hospitality destination to the joint venture between SAUDICO and ALEC FITOUT. Marking the occasion with a signing ceremony at KAFD were Gautam Sashittal, Chief Executive Officer at KAFD DMC, and SAUDICO CEO, Bashir Al Azem. Also in attendance were top executives from both firms in the joint venture, including Kadir Karademir, Chief Operations Officer at SAUDICO, and Laurent Farge, Managing Director, at ALEC FITOUT. Located in the heart of Riyadh, KAFD is a premier business…
AtkinsRéalis, a fully integrated professional services and project management company with offices around the world, announces the appointment of Christine Healy, a seasoned global executive, as President for Asia, Middle East and Australia (AMEA), effective February 19, 2024. “We are delighted to welcome Christine to this new leadership role. With her wealth of experience and exposure to diverse regions throughout her career, she brings a distinctive global perspective and background which will enrich our strategic approach,” said Ian L. Edwards, President and CEO of AtkinsRéalis. “I look forward to working with her to serve our clients in the AMEA region as…
DHL Global Forwarding, the freight specialist arm of the DHL Group, recently announced its complete acquisition of Danzas AEI Emirates to further accelerate profitability and growth in the Middle East and Africa region. In line with this, Samer Kaissi has been appointed as Country Manager of DHL Global Forwarding UAE. He will take additional responsibility as Chief Executive Officer Gulf DHL Global Forwarding with immediate effect. Samer will report to Amadou Diallo, CEO of DHL Global Forwarding Middle East Africa (MEA). The Gulf cluster includes the United Arab Emirates, Qatar, Iraq, Kuwait, Bahrain, Oman and the Kingdom of Saudi Arabia (KSA). Amadou…
Maersk (Maersk), as a part of its integrated logistics solutions, has launched a fully digital solution for customers willing to purchase air freight solutions. The new online solution provides customers with an option to book their air cargo requirements through a simple online tool that will provide customers with instant prices for as many as 70,000 connections between virtually all relevant airports globally. With the launch of this new solution, Maersk takes further steps towards connecting and truly simplifying its customers’ supply chains. Darryl Judd, Regional Head of Air Freight for Maersk in the Indian Subcontinent, Middle East and Africa,…