Results for: Saudi Arabia

Hyatt Hotels Corporation is expanding its presence in the Kingdom of Saudi Arabia (KSA) with the introduction of two new hotels in Madinah. The Hyatt House Madinah KEC and Hyatt Centric Madinah KEC will be situated within the Knowledge Economic City (KEC), contributing 576 keys to Hyatt’s growing portfolio in the region. The Hyatt Centric brand will make its debut in Saudi Arabia with the Hyatt Centric Madinah KEC. The strategic location of KEC, directly linked with the five major roads in Madinah, positions it as a leading developer in Saudi Arabia. Hyatt House Madinah KEC will offer 446 residentially-styled rooms, while Hyatt Centric Madinah KEC will feature 130 contemporary rooms and suites. Both properties will be integrated into World of Hyatt, the industry’s fastest growing loyalty program.

The opening of EDITION Hotels in Jeddah, Saudi Arabia marks a transformative moment for the country and the hospitality industry in the region. Embracing the ambitious Vision 2030 roadmap, EDITION Jeddah is a beacon of change, embodying Saudi Arabia’s commitment to economic and social diversification. With its multicultural ethos and sophisticated style, EDITION Jeddah redefines hospitality, heralding an era of advancement and prosperity.

In a bold move, Saudi Arabia prepares to launch Riyadh Air as its new national airline, aiming to transform the Kingdom into a major aviation hub akin to the bustling metropolis of Dubai. This anticipated newcomer is expected to commence operations in 2025, offering flights from the UK to the rapidly expanding tourism and aviation destination that Saudi Arabia is fast becoming. As the region witnesses a surge in similar developments, Riyadh Air’s entry into the aviation market is poised to further solidify Saudi Arabia’s position as a rising star in the tourism and air travel sectors.

Asset manager BlackRock is launching an investment platform in Riyadh with a $5 billion anchor investment from the Saudi Public Investment Fund (PIF). The platform, called BlackRock Riyadh Investment Management (BRIM), aims to bring foreign institutional investment into Saudi Arabia, develop the local asset management industry, and support the development of the kingdom’s asset management talent.

Oleksandr Usyk’s promoter, Alexander Krassyuk, has brushed aside suggestions that the Ukrainian is a ‘cry baby’ and expressed hope that Tyson Fury will not withdraw again due to injury before their highly anticipated undisputed heavyweight world title fight. Usyk and Fury are scheduled to meet in Saudi Arabia on May 18, with all the heavyweight belts on the line. However, their initial bout, planned for February, was postponed after Fury suffered a cut during sparring. Krassyuk emphasized that Usyk is in excellent condition after completing his third training camp, with his sole concern being Fury’s fitness. Usyk’s resilience and unwavering determination were highlighted, as he has always traveled to his opponents’ hometowns and emerged victorious.

IHG Hotels & Resorts has partnered with Refad Real Estate Investment & Development to introduce Hotel Indigo & Residences Al Khobar to Saudi Arabia. Located within the Refad project, the hotel will feature over 200 rooms and serviced apartments, catering to both leisure and business travelers. With a focus on local culture, the hotel will offer distinct dining venues, meeting facilities, and recreational amenities. This strategic addition to IHG’s portfolio reflects their commitment to growth and providing exceptional hospitality experiences in key markets within the Kingdom.

As part of its economic diversification strategy, Saudi Arabia is investing heavily in the entertainment sector, aiming to become a top global destination for leisure and entertainment. The country is expected to witness a dramatic surge in consumer spending on entertainment, potentially reaching $5 trillion by 2028.

Saudi Arabia’s economy minister, Faisal Al Ibrahim, has rejected reports that the kingdom’s $1.5 trillion NEOM megaproject is reducing its plans. Al Ibrahim stressed that all projects are progressing according to schedule, but decisions are being made with consideration for optimal economic impact. The minister emphasized that the project’s scale remains unchanged, despite reports that The Line project would be significantly reduced in size. NEOM, part of Saudi Arabia’s Vision 2030 initiative, aims to diversify the economy and attract investors with innovative projects.

Saudi Arabia’s General Authority of Civil Aviation has announced the introduction of direct flights from Dammam to Najaf, Iraq. This initiative forms part of a broader effort to enhance the national aviation infrastructure and meet the growing demands of air travel in the region. The new service, commencing on June 1st, will not only provide direct connectivity to Najaf but also extend to Baghdad and Irbil, offering improved travel options for passengers.

The inaugural Hima Protected Areas Forum has successfully concluded, bringing together a diverse group of stakeholders to address issues of conservation and sustainable development. Organized by the National Center for Wildlife under the patronage of H.E. Eng. Abdulrahman AlFadley, the forum marked a historic moment in the field.