The firm is in early talks with banks and stakeholders, John Pagano, chief executive of Red Sea Global, said in an interview, without disclosing details on advisers, banks or valuation
The new-build Kimpton Riyadh will be located within the King Abdullah Financial District
Economic expansion was driven by a 5.8 per cent increase in non-oil activities
Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector
The open banking platform plans to use the proceeds of the Series A funding round to accelerate growth in Saudi Arabia
The company secured approval from the Saudi Capital Market Authority to offer 21,000,000 shares, representing 30 per cent of its issued share capital
Saudi tourism is set to surge with significant investments being made throughout the kingdom to enhance both religious and non-religious tourism
The agreement will see Amsa Hospitality develop a range of Accor’s economy and midscale brands while also acting as the third-party operator by leasing and franchising the assets
The bank’s investment in Credit Suisse plunged by approximately 20 per cent by the end of 2022 and a further 70 per cent in Q1 2023
The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate
Saudi Arabia and Egypt will be the key markets for the group’s expansion in the region
The resort will feature 225 guest rooms and suites with terraces overlooking the beaches of the Red Sea
Jessica Wong, managing partner at eWTP Arabia Capital looks at how Saudi Arabia is uniquely placed to leapfrog innovation hurdles and build businesses with global impact
Aman Wadi Safar will include 78 keys, while Janu Diriyah will feature 120 guest rooms
The developer shares the same vision as the authorities in Saudi Arabia and the company plans to open an office in Riyadh in Q4 2023
The project already has equity bridge loans of $14m from the EBRD and $45m from the APICORP
The boutique hotel will feature 35 guest rooms and is expected to open to by Q4 2023
The crescent Moon that signals the end of the holy month of Ramadan was spotted in the kingdom and the UAE on Thursday
The 200-key new-build property will open in the capital’s Olaya district in 2026
Hilton currently operates 16 hotels in Saudi Arabia and has another 51 under development
Dar Tantora by The House Hotel, a Kerten Hospitality brand, will open with 30 guest rooms
The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares
The economic zones are expected to accelerate growth, increase export competitiveness, attract talent and improve the country’s global links
It has confirmed 56 additional weekly services to 14 destinations
The Eid holiday will start on Thursday, April 20, at the end of the workday
The company will benefit from Savvy’s long-term financial backing to deliver on its strategy to grow and deepen existing franchises
The kingdom has one of the highest reserve coverage ratios among Fitch-rated sovereigns at 18 months of current external payments
The bank will operate as ‘Saudi Awwal Bank’ after obtaining the necessary regulatory and shareholders’ approvals
The 246-key voco Hotel and Suites Riyadh North is scheduled to host its first guests in 2026
Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day