Real Estate

In Brief

First phases of Riviera over 80pc completed

UAE-based Azizi Developments has announced that steady progress is being made on its AED12 billion mega-project Riviera, the developer’s French Mediterranean-inspired residential and commercial community at MBR City in Dubai.

Phase One of the project is already 85 per cent complete, with the second, third and fourth phases being 80, 50 and 20 per cent complete respectively.

Announcing its project milestone, CEO Farhad Azizi says: “It brings us great pleasure to announce our progress at Riviera – which is moving more rapidly than ever before.

“Our improved procurement processes, as well as our way of working with only the best, most trusted contractors with proven track records, has resulted in faster construction and substantially higher quality levels that are sure to excite our valued investors and end-users.”

Designed to introduce the French-Mediterranean lifestyle to Dubai, Riviera represents a new landmark destination that is both residential and commercial, with an abundance of retail space.

Upon its completion, Riviera will boast 16,000 residences spread across 71 mid-rise residential buildings, a mega-integrated retail district, breath-taking waterfront views, lush greenery, and an abundance of lifestyle-enhancing amenities including a 2.7-km-long lagoon.


Second Hotel Indigo in Saudi Arabia to open in 2026

IHG Hotels & Resorts, a leading hotel company, has announced the signing of a management agreement with Dallah Real Estate Company for a Hotel Indigo Resort in Durrat Al Arus, Jeddah - the second such property in Saudi Saudi Arabia.

With this signing, IHG continues to expand its lifestyle portfolio in the country to cater to the future demand from new guest segments, seeking Arabian experiences through Hotel Indigo’s ‘Neighbourhood Story’.

Due to open in early 2026, the hotel will be located in Durrat Al Arus, a recreational neighbourhood north of Jeddah. The resort will be part of a mixed-use development consisting of a budding residential community, vast water frontage and manmade lagoons.

IHG and Dallah Real Estate Company will work in collaboration with design studios and research agencies to weave the ‘Neighbourhood Story’ into the DNA of the hotel.

Along with 271 rooms, the resort will also feature 50 private pool villas, a wellness facility, and home-grown food and beverage concepts. Dallah has also partnered with 17Sixty – a marine adventure company – to enable Hotel Indigo guests, and residents of Jeddah, to experience marine flora and fauna, keeping sustainability at its core. The company will also provide water sports activities to the guests.


Retal launches 550-unit residential project

Saudi-based Retal Urban Development Company has announced the launch of its key residential project, Nesaj Town Al Narjis, in partnership with the National Housing Company.

Located in Riyadh, the project spans over an estimated area of 160,000 sq m and features 550 independent housing units of various sizes, designs and architectural configurations to suit the requirements of Saudi families, in addition to providing a modern structure and spacious living space, says Retal.

The agreement was signed by Engineer Yousif bin Ibrahim Al Hamoudi, the Chief Operating Officer at Retal, and Mohammad Al Buty, CEO of the National Housing Company, in the presence of Majed Al Hogail, Minister of Municipal and Rural Affairs and Housing. Retal CEO Engineer Abdullah bin Faisal Al Braikan says this project was a continuation of Retal Urban Development’s consecutive successes in Nesaj Town projects and the strategic expansion of its projects in Riyadh and across the kingdom.


Soudah wins UNWTO membership

Soudah Development, a unit of Saudi Public Investment Fund (PIF), has become an affiliate member of the World Tourism Organization (UNWTO) – the United Nations agency responsible for promoting tourism as a key driver of economic growth and environmental sustainability.

Soudah was established by HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud, Deputy Prime Minister and Chairman of PIF in February mainly to drive the development of the Asir region by building 2,700 hotel rooms, 1,300 residential units as well as 30 unique commercial and entertainment attractions.

Soudah Development is developing a luxury mountain destination at 3,015 m above sea level in line with its sustainability strategy, empowering local communities and showcasing the extraordinary centuries old culture and heritage in Soudah and parts of Rijal Almaa.

On the key achievement, CEO Husameddin Almadani says: “It is the latest in a series of strategic ties we have established with local, regional and global stakeholders to further our goals.”