Saudi Arabia to build 17 hotels on four Red Sea man-made islands

Red Sea Development Company (RSDC), the Saudi developer of the Red Sea project unveiled plans to build 17 hotels on four Islands the kingdom is creating on the Red Sa, local Arabic daily Aleqtisadia reports. Mohammed Al-Rihawi, facilities manager at Read more

Kuwait’s IFA to acquire 10.5 per cent of Dubai’s Palm Jumeirah Yotel

Kuwait-based investor International Financial Advisors Holding (IFA) will invest AED 37.69 million ($10.26 million) in a branch of smart hotel brand Yotel in Dubai’s Palm Jumeirah, Zawya reports. The investment will provide IFA, 10.5 per cent of the hotel brand. Read more

French FM applauds Middle East diplomacy, warns of Iranian transgressions -Arab News

French Foreign Minister Jean-Yves Le Drian has celebrated progress in diplomacy in the Middle East and promised that France will continue to take an active role in ensuring the region remains stable. In a wide-ranging press conference held on Monday, Read more

Saudi developer Bunyan United Company hires BMG Financial Group to advise on IPO

Saudi real estate firm Bunyan United Company has appointed BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock exchange, reports say. The initial public offering, (IPO), the Jeddah-based bank has Read more

Saudi Arabia to produce AstraZeneca & Pfizer COVID-19 vaccine at home

The kingdom of Saudi Arabia will manufacture COVID-19 vaccines, a result of agreements expected inked between the Gulf Arab country and international pharmaceutical companies, among them AstraZeneca and Pfizer, reports say. Memorandums of understanding will be signed in the field Read more

Saudi Arabia asks government contractors to buy essential food from national companies

Saudi Arabia’s Local Content and Government Authority on Monday issued a list of 28 items that government contractors should buy only from national companies, reports notes, citing the agency. The directive, the agency notes, aims at supporting local products and Read more