Construction & Real Estate

Red Sea International secures Madinah site for mixed-use project

Saudi Arabia's Red Sea International Company said it has completed regulatory approvals and taken possession of a 63,088-sq-m prime plot of land in Madinah, thus marking the start of its contractual obligations under a 50-year lease agreement with the municipality. ...

Construction & Real Estate

Alandalus buys prime plot in Riyadh to build educational complex

Saudi-based Alandalus Property Company said one of its key subsidiaries, Alandalus litashid Almabany Aldirasia Company, has acquired a prime plot of land within the Al Naseem District in Riyadh city designated for the development of an educational complex. ...

Construction & Real Estate

Sumou seals lease agreement with Saudi Airlines Real Estate Development

Saudi Arabia’s Sumou Real Estate has signed a 35-year-long lease agreement with Saudi Airlines Real Estate Development Company (SARED) for a 78,374 sq m land plot in Jeddah. As per the deal, Sumou will develop an integrated mixed-use project on the land, located in the southwestern corner of a master-planned area. ...

Construction & Real Estate

Cenomi Centres in deal to operate flagship retail destination in Al Khobar

Cenomi Centres, a leading developer of contemporary lifestyle destinations in Saudi Arabia, said it has signed an agreement with Saudi Downtown Company, a unit of the kingdom's sovereign wealth fund PIF, for the leasing and operation of its new flagship destination in the city of Al Khobar. ...

Construction & Real Estate

Mawani, Sultan in deal to build logistics park at Jeddah port

The Saudi Ports Authority (Mawani) has announced that it has signed a lease agreement with Sultan Logistics, a leading player in the kingdom's freight sector, for the development of a 200,000-sq-m logistics park at Jeddah Islamic Port for a total investment of SAR250 million ($66.5 million). ...

Construction & Real Estate

Saudi Real Estate signs lease deal with Amsa Hospitality for Riyadh residential compound

Saudi Real Estate Company (Al Akaria) has signed a 20-year lease agreement with Amsa Hospitality for the Amsa Vue Residential Compound in Riyadh, with the total value of the project estimated at around SR1.2 billion ($320 million), an Arab News report said. ...

Construction & Real Estate

Diriyah inks land development deal with King Saud University

King Saud University has announced that its investment arm Riyadh Valley has signed an agreement with Diriyah Company to lease 552,000 sq m of land for 70 years, enabling the company to develop the area within Phase Two of the Diriyah Project (D2)....

Construction & Real Estate

Apple in deal to open flagship store at Diriyah Square

Diriyah Company, the developer of Saudi Arabia's premier historical, cultural, and lifestyle destination, has entered into a lease agreement with Apple to open an iconic retail store at its premier retail district - Diriyah Square - within the City of Earth....