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Neom, the Saudi supercity, has set up its own investment fund. The Neom investment fund will focus largely on mergers and acquisitions and venture capital in tech startups, the organization said. The Neom Investment Fund will also collaborate with global organizations through joint actions. ventures to boost its multiple sectors, the sum and tourism.
Neom is Saudi Arabia’s futuristic city, built from the ground up to become a new global benchmark for sustainability, livability and tourism. The domain will be home to gigantic projects, such as The Line, the Trojena ski destination, and the luxury yacht island Sindalah. If its contracts were awarded, Neom would have a total price tag of around $500 billion.
“Neom’s vision is to address challenging global situations that are redefining quality of life, conservation and business. As Neom’s strategic investment subsidiary, the [Neom Investment Fund] will play a pivotal role in turning Neom’s vision into reality,” said Nadhmi Al Nasr. , CEO of Neom.
“The [Neom Investment Fund] will enable Neom to maintain its contribution to the achievement of the Kingdom’s long-term ambitions, thereby consolidating its position as a driving force for economic diversification and task creation. “
The strategy is designed to align Neom’s progression goals with those of institutional innovators and investors, “reducing the dangers for them of participating in the creation of global expansion core corporations and a thriving economy” in the city, the fund’s CEO added. Majid Mufti.
Governments in the Middle East “must take a long-term view” to protect their tourism industries from normal regional crises. This is the view of Khalid Al-Rumaihi, a leading figure in Bahraini society and former CEO of the kingdom’s holding company, Mumtalakat. .
Speaking at a convention in Riyadh last week, Al-Rumaihi said the region prepares for crises every three years or so, such as the war between Israel and Hamas.
He said: “How can governments protect themselves from what is happening in the world?You have to take a long-term view. This region [Middle East] is familiar with crises, we have one every 3 or 4 years. . If you’re thinking about building a hotel, you need to think in terms of decades.
“Governments want to adopt long-term policies. Every crisis will be different. Governments will need to ensure that they create an environment in which investments feel secure. Investors want to feel comfortable even in high-stress situations.
Ennismore will launch its 25-hour logo for a stand-alone residential construction in Dubai’s downtown tourist district. Called 25 Hours Heimat, the German word for “home,” it will come with studios and one-, two- and three-bedroom units. No opening date has been donated to the project, but it’s the newest of Dubai’s logo boom.
Accor this year announced its Accor One Living division, a branch of the company committed to developing its portfolio of branded residences. Elsewhere in the Accor group, a stand-alone SLS residence, a set of Raffles-branded villas and more Mama Shelter apartments in the Business Bay District.
Six Senses, IHG’s wellness-focused luxury logo, is being developed in Saudi Arabia. Normally it’s a logo that displays one or two resorts depending on the country, but a third of its kind has been signed in Saudi Arabia, this time in AlUla. Scheduled to open in 2027, Six Senses AlUla joins the Red Sea outposts – now open – and near Amaala.
Six Senses AlUla will span 1,200,000 square meters and feature 100 guest villas and 25 residences. AlUla is a historic district in the desert of Saudi Arabia, considered the “living museum” of the kingdom. The Hegra House, a UNESCO World Heritage Site, as well as a set of luxury hotels under development. Other AlUla hotels have Habitas assets, a Banyan Tree, and a Chedi asset in the pipeline.
Barry Sternlicht, founder and chief executive of Starwood Capital Group, said demand for space in the U. S. could be stifled forever. “The real challenge [in real estate] is in the sector,” the American billionaire and longtime hotel tycoon said at a convention in Riyadh last week. “On the other hand, it’s harder. The question of what one is good for is moot [post-Covid]. “
After the pandemic ended, there was a slow return of workers to the workplace. In the first quarter of this year, the job vacancy rate in the United States reached an all-time high of 13. 1%, according to the National Association of Realtors. .
The historic region of AlUla in Saudi Arabia attracts millions of visitors from all over the world. A beloved domain of Saudi culture, AlUla bosses in the past were wary of mass tourism. Today, the expansion of a new airport demonstrates a shift in priorities. A new terminal is being added to AlUla International Airport, with the aim of expanding the number of arrivals from the existing 400,000 to more than six million. The airport will have an area of approximately 2. 4 million square meters, which will allow it to accommodate up to 15 aircraft.
Dubai has been ranked as the world’s second-largest city for remote painters, according to new studies by WorkMotion. The rating is based on visa regulations, remote painting infrastructure, security, mobility, happiness, affordability and tax rates of the source of income, where Dubai performed i. e. either because there is no private source of income tax.
The UAE has introduced a number of new long-term 5- and 10-year golden residency visas, 80,000 of which were issued in 2022, to make the country more attractive to professional foreign painters. Tourism in Dubai is heavily concentrated on selling. Remote paintings in the city: In December last year, the authority partnered with Airbnb on a ‘Live & Work Anywhere’ program to promote the use of Airbnb for longer in Dubai.
Five Holdings, owner and operator of Dubai’s Five lopass of party hotels, is in a position to export its services. Its hotels, Five Palm Jumeirah and Five Jumeirah Village Triangle, are two of the city’s most famous, known for hosting large-scale parties. and musical events that go against what is appropriate in the conservative Middle East region. Five has announced its acquisition of Ibiza-based nightclub company Pacha in a Nasdaq filing.
“This acquisition marks a pivotal moment in FIVE Holdings’ strategic expansion and global expansion journey,” the document reads. The acquisition includes a variety of assets including Pacha Nightclub, Destino Pacha Hotel, El Pacha Hotel, Toy Room Club and WooMoon Storytellers. as registered, as the logo name “Pacha”.
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Photo credit: Neom, Credit: Unsplash
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