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Imagine having a blank canvas on which to master-plan a brand new city; drawing its roads, homes, commerces, and public spaces on a fresh slate and crafting its unique urban identity. Every urban planner has fantasized about designing a city from scratch and luckily for some, this dream is morphing into concrete opportunities.
Over the last two decades, new, master-planned cities have emerged from the ground up at an unprecedented scale, the majority of which have been created in Asia, the Middle East, Africa, and Latin America, with currently over 150 new cities in the making. This new type of urban development has shown to be particularly seductive in emerging markets, where they are sold as key parts of the strategy to leapfrog from agriculture and resource-based systems to knowledge economies by attracting foreign capital and boosting economic growth.
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Strong list of partners gather in support of third edition; SoftBank Investment Advisers, Ministry of Sport, Public Investment Fund, Aramco, King Abdullah Economic City (KAEC),
SAMBA, Saudia, Invest Saudi, Sky Prime, GIB, STC, Rolex, Saudi Cargo, Saddik & Mohamed Attar, UMA Premium,
Mix FM, Nova, Adidas, Al Laith, Luxury Carts, Reza Hygiene and Royal Greens Golf & Country Club.
19 January 2021: Five-time PGA Tour winner Kevin Na, who won the PGA Tour s Sony Open in Hawaii on Sunday, is the latest American star to enter the 2021 Saudi International powered by Softbank Investment Advisers, Royal Greens Golf & Country Club, 4 – 7 February 2021.
The third edition of the Saudi International powered by Softbank Investment Advisers sees the strongest field gathered in the Kingdom to date with a healthy serving of world ranking points on offer sealing its position as the strongest event on the Middle East swing. In addition to the World No.1, there are 13
Saudi-based Emaar EC said it has signed a deal to set up a SR1.8 billion ($479 million) fund for the development of a five-star resort along with a water park and overwater luxury villas under the Rixos brand within King Abdullah Economic City (KAEC).
RIYADH: A $480 million fund to build a luxury resort at King Abdullah Economic City (KAEC) has been launched.
Emaar The Economic City (Emaar EC) announced in a Saudi stock market filing on Sunday that a framework cooperation agreement to establish the investment fund had been signed.
It said the agreements would be signed with the Saudi Tourism Development Fund, the Turkish investment company FTG Development, Saudi bank Albilad’s investment company, Albilad Capital, and Curacao-based finance company Ekofine Holding BV.
The fund will be allocated toward the development and operation of a five-star resort and hotel under the Dubai-based Rixos brand, owned by Accor International, according to a company statement.