Real Estate Archives - Guide to Properties & Real Estate Investment in Saudi Arabia

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Trojena – Mountains of NEOM

March 3, 2022

TROJENA NEOM will offer year-round outdoor skiing and adventure sports to be completed in 2026, an unrivalled experience and a global landmark for the Kingdom of Saudi Arabia. Highlights include a stunning man-made freshwater lake and ‘The Vault’. It is a folded village fusing technology, entertainment and hospitality – as the main gateway into TROJENA.

TROJENA is part of NEOM’s regional plan, located 50km from the Gulf of Aqaba coast in the heart of our nature region – with elevations ranging from 1,500m to 2,600m and covering an area of nearly 60 square kilometers.

Capitalizing on the different climate in the area, where winter temperatures drop below zero celsius and year-round temperatures are generally 10 degrees cooler than the rest of the region – with its clear fresh air and stunning views, TROJENA NEOM will not only be a mesmerizing place to visit, but also a magical place to live and work.

TROJENA NEOM will redefine mountain tourism for the world by creating a place based on the principles of ecotourism, highlighting our efforts to preserve nature and enhance the community’s quality of life, which is aligned with the goals of the Kingdom’s Vision 2030. It also confirms our commitment to be part of the global effort to protect the environment. TROJENA NEOM will be an important addition to tourism in the region, a unique example of how Saudi Arabia is creating destinations based on its geographical and environmental diversity. This forward-looking vision will ensure that mountain tourism will be another revenue stream to support the Kingdom’s economic diversification while still preserving its natural resources for future generations.

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On completion, the development will also contain a broad range of homes. Including apartments, chalets and mansions plus hotels ranging from the ultra-luxury and experiential to wellness and family resorts. In addition, there will be a wide range of retail, leisure and dining options. Activities including year-round skiing, water sports, hiking and mountain biking will sit side by side with an interactive nature reserve.

TROJENA NEOM will become one of the most dazzling destinations in NEOM and across the world. Infused with the ethos of NEOM with its bold ambition, built around technology and innovation. It will follow the principles of sustainability, state-of-the-art technology and astonishing design. It will provide extraordinary opportunities for residents and visitors looking for luxury, adventure, entertainment, livability and escape from the everyday.

www.neom-property.com

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Jeddah Central Project – Residential Property

February 11, 2022

Jeddah Central was designed with the cities history, heritage and culture at its core.

Jeddah Central provide an exceptional environment within which residents, workers and visitors can live, work and thrive. Enhancing lives for the better.

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Jeddah Central in Numbers

Hotel Rooms 2700 | Residential Units 17000 | Entertainment & Tourism Projects 10+ | Landmarks 4

The ancient past of Jeddah coupled with its authentic identity guide and inspire us in the creation of an innovative future for Jeddah Central. While our knowledge and experience provide us with the tools to ensure we can deliver this exciting project.

The Jeddah of today offers a unique blend and diverse landscape. We will celebrate and improve upon the current position to deliver a destination that celebrates not only our heritage, but also the hear and now.

The potential of Jeddah Central drives us and provides the impetus to create for the future and deliver on our aspirations. Leveraging our past, appreciating our present and looking to the future will ensure we can build an outstanding new destination

Jeddah Central will comprise of six distinct and exciting districts

Central District

The heart of Jeddah, the Central District will be a hub for local and international tourists. Providing them with the opportunity to connect with others and experience our rich culture in a cosmopolitan setting.

Marina District

Connecting Jeddah Central to the Red Sea will be the outstanding Marina District. Comprised of open green spaces seamlessly interacting with entertainment, retail and dining, the district will marry life on the waterfront with life on the open seas.

Beach District

Waterfront walkways connect visitors and residents to the superb retail, dining, entertainment and leisure facilities of the Beach District. This stylish neighbourhood will be the desirable address for those seeking a connection to the waters and sandy shores of the Red Sea.

Sport Park District

Providing the best in High-end family living, the Sports Park District sees a contemporary interpretation of Jeddah’s iconic architecture interspersed with superb private and public outdoor parks, plazas and courtyards that will invigorate the district and bring it to life.

Cultural & Creativity District

Vibrant and thriving, the Cultural & Creativity District will promote and support art, culture, innovation and sustainability. Securing Jeddah Central’s position as an internationally relevant destination.

Wellness District

This district will be developed into a medical and health center to include medical clinics, education, research and development centers and others to establish an advanced destination for health and knowledge.

www.neom-property.com

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NEOM becomes a major partner in the Mercedes-Benz EQ…

November 11, 2020

NEOM Mercedes-Benz EQ Formula E Major Partnership

NEOM has signed a long-term partnership with Mercedes-Benz EQ Formula E Limited, under which NEOM becomes a major partner in the Mercedes-Benz EQ Formula E team.

This partnership provides huge opportunities to transfer knowledge and provide more training and education in the Kingdom, as well as to develop the talents of young racing drivers. This partnership will also provide opportunities for developing and seconding selected Saudi employees who work closely with the racing team and have the required qualifications in the field of engineering and software development.

NEOM will offer 30 Saudi nationals a 12-month secondment at the coveted at Mercedes EQ Formula E Motorsport HQ in UK and Germany to progress high-caliber candidates in engineering and software development.

NEOM will also be a key partner and founder of the Mercedes-Benz EQ Formula E driver development program that begins in early 2021 and includes talented junior drivers. The program aims to discover and embrace young talents able to participate in the Formula E championship within the next few years.

NEOM Mercedes-Benz EQ Formula E

Commenting on the partnership, Nazmi Al-Nasr, CEO of NEOM, said: “We are delighted to sign the partnership agreement with the Mercedes-Benz EQ Formula E team and are passionate about working with it. We are always ready to produce partnerships that adopt the principle of innovation as a key to a sustainable future. Therefore, we encourage everyone As NEOM is a living lab in which they can try and develop new technologies in cooperation with us and others. “

Toto Wolff, President of Mercedes-Benz Motorsport, said: “We consider our participation in motorsport essential to leadership in innovation and look forward to developing this cooperation with our new partner, NEOM. Through our participation in Formula E, we have committed to promoting future mobility and promoting the development of Technology-related sustainable innovations as well as mentoring young talent who make significant contributions in this field. “

“We have been impressed by the culture and values of the team during our discussions,” said Jan Paterson, head of the sports sector at NEOM. “We consider this partnership important and provides intense cooperation between the Mercedes-Benz EQ Formula E team and NEOM in the global sports field. In the short term, we are excited to support the team in the upcoming seasons and look forward to hosting the first race in NEOM.”

www.neom-property.com

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Saudi Arabian F1 GP set for 2021 in Jeddah

November 11, 2020

Saudi Arabian F1 GP – In 2021, Saudi Arabia will become the 33rd country to host a round of the Formula 1 world championship when it showcases the inaugural Saudi Arabian Grand Prix. Here’s everything you need to know about this exciting addition to the calendar…

The inaugural Saudi Arabian Grand Prix will take place in the nation’s second-biggest city by population – Jeddah, on the west coast of the country. The race will be run on a street track, however there are plans for the Saudi Arabian Grand Prix to move to a purpose-built circuit at some point in the future.

Jeddah is a picturesque city of around 3.5 million people, situated on the beautiful Red Sea coast. The final track layout is still to be confirmed, but it’s set to be situated on the Corniche – a 30 km coastal resort area of the city. As such, the track is expected to hug the seafront, providing a stunning natural backdrop for the action.

As mentioned, the final track design has not been decided, but organisers say it will feature a good flow of long straights and tight corners, with no equivalent track on the calendar.

Organisers hope that the race will take place at night under lights, adding another layer of atmosphere. They expect the city to come alive with excitement for the race, with everyone coming together to celebrate a festival of F1.

Saudi Arabian F1 GP

Saudi Arabia has connections with F1 that stretch back to 1978, when the airline Saudia sponsored Williams, alongside a few other Saudi businesses. The investment proved a significant event in the team’s history, with the ‘Fly Saudia’ branded team winning their first world championships in 1980 with Alan Jones.

More recently, Saudi Arabia has played host to both Formula E and the Dakar Rally, while Saudi Aramco – the world’s leading integrated energy and chemicals company – are a global F1 partner, with both sides saying the partnership has the potential to further develop and accelerate plans towards a power unit fuelled by advanced sustainable fuels. No Saudi driver has ever raced in F1, but at the 2018 French Grand Prix Saudi woman, Aseel Al-Hamad drove some demonstration laps in a Renault F1 car, on the same day Saudi Arabia allowed women to obtain a driving licence.

It’s fair to say they the people of Saudi Arabia are excited about a Saudi Arabian F1 GP. In 2018, when Riyadh hosted Formula E, there were live music concerts and entertainment alongside the racing action, with over 40,000 people attending each of the three nights – a first for the country. With 70% of the population under the age of 30, Saudi people want to be like the rest the world – they want to go to the biggest live events, they want to have fun and they are embracing and welcoming new opportunities. Formula 1 has worked hard to be a positive force everywhere it races, including economic, social, and cultural benefits. Sports like Formula 1 are uniquely positioned to cross borders and cultures to bring countries and communities together to share the passion and excitement of incredible competition and achievement.

www.neom-property.com

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Red Sea International awarded $35 million NEOM contract

October 26, 2020

Neom has announced that it has awarded a $35 million contract to Red Sea International for the design, build and facilities management of accommodation units, offices and all supporting building amenities within the giga-development.

According to a $20.7 million contract signed earlier this week, Red Sea International will provide engineering, procurement and construction services for accommodation units, offices and all supporting buildings in Neom. The four-month deal will be recorded over the period beginning from the fourth quarter of 2020 until the first quarter of 2021.

In addition, the recently signed $14 million contract will cover facilities management, operations and maintenance services for accommodation units, offices and all supporting buildings. This is a three-year contract, extendable for an additional cost, the company said in a statement to the Saudi Stock Exchange (Tadawul). It also added that the new deal will be reflected in the financial statements over the period beginning from Q1 2021 to Q4 2023.

Red Sea International

Under the terms of the contract, the scope of work will include comprehensive facility management and camp operations services including catering, housekeeping, laundry maintenance, medical, security and recreational services.

Located on the Red Sea coast, Neom is a $500 billion investment and part of the Kingdom’s Vision 2030, which aims to attract foreign investment and create jobs in an effort to reduce the kingdom’s dependence on oil. The first phase of the giga-project will end in 2025, and the whole project is expected to be completed with a period of 30 to 50 years.

Saudi Arabia Giga Projects are beginning to gather pace as they look to unlock the full potential of their countries natural environments and open the doors to international investment, tourism and high-end luxury resorts. The prospect of Real Estate and Property investments is huge.

www.neom-property.com

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NEOM Headquarters move to Northwest of the Kingdom

October 21, 2020

Sunday officially marked the operating from its new NEOM headquarters at the project site in the northwest of the Kingdom after it received relocation approval from its Board of Directors.

The move represents an exciting new phase in NEOM’s development that will accelerate the pace of growth and the level of foundation construction work.

More than 450 employees are now based at the company’s new headquarters 170 km from Tabuk, with the number expected to increase to 700 by the end of this year.

NEOM Headquarters

NEOM CEO Nadhmi Al Nasr said: “The relocation of our headquarters to NEOM is an important milestone in our journey and will act as a springboard for growth.

“A project of this magnitude needs an extraordinary team on the ground to deliver our vision to build a New Future at NEOM, which aims to be a leading global destination for exceptional livability and thriving businesses.”

The company will maintain an office in Riyadh to run the company’s business, collaborate with project partners — such as government agencies and private companies — and keep communication channels open with investors.

The move to NEOM comes as progress onsite continues to pick up speed. Since last year, NEOM has reached a number of key milestones, including the opening of NEOM Bay Airport and awarding several construction contracts for projects such as a logistics park and accommodation for 30,000 construction workers.

A number of major announcements have also been made, including an agreement with Air Products and ACWA Power to build world-scale green hydrogen-based ammonia production facility powered by renewable energy, valued at more than SR18 billion, as well as two multi-billion riyal contracts for AECOM and Bechtel to develop an advanced transport infrastructure.

NEOM continues to attract the world’s greatest minds to the Kingdom to create a prosperous and sustainable economy in line with Saudi Vision 2030 and its objectives for economic diversification.

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Cruise Ships Red Sea to set sail from Saudi…

August 17, 2020

For the first time on August 27th, cruise ships will set sail from the Red Sea coast in Saudi Arabia as reported by the Saudi Press Agency (SPA) on Wednesday.

The cruise ships are part of the Saudi Tourism Authority’s (STA) efforts to highlight attention to the Red Sea’s rich tourist treasures. The cruise ships will have several private restaurants on board and a number of rooms will have a balcony that overlooks the Red Sea whilst others will have a window view of it.

The ships are well equipped with large theatres which will put on stunning productions for entertainment, as well as small markets where souvenirs can be purchased. There is also gyms, swimming pools and a video games area.

Saudi Arabia 2030 vision continues to promote the amazing and natural charm of the Red Sea coast, where NEOM is putting down its roots for many years to come.

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Advanced transport system for futuristic NEOM city project

August 12, 2020

The advanced transport system to be developed has had the contract awarded to US-based Bechtel for executive project management. The NEOM team selected Bechtel to oversee and create resource-efficient utilities and a highly advanced transport system.

The project will include simultaneous construction in multiple locations of the region. NEOM’s infrastructure will be utilizing AI, robotics and human machines.

The NEOM Mega City continues to gather pace even with the economic slowdown and the lingering world pandemic of Covid-19.

CEO Nadhmi Al Nasr of NEOM commented: “We are delighted to have a major industry leader like Bechtel on board to work with us to realize our ambitions.”

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NEOM City futuristic plans unveiled by Crown Prince

August 3, 2019

Saudi Arabia’s Neom City is really beginning to sound like something straight out of a sci-fi movie script.

The in-development Saudi city-state will have flying taxis, robot maids, and even glow-in-the-dark sand, according to recently seen confidential planning documents reviewed by The WSJ. Incredibly an artificial moon will light up the Neom City sky every night, and a Jurassic Park-style island will let visitors mingle with robotic dinosaurs – let alone the multitude of off-the-scale real estate developments taking place.

But also buried in the 2,300 pages of planning documents obtained by the WSJ are plans for the forcible relocation of local tribes, the creation of human gene-editing clinics, and 24/7 government surveillance.

Since 2017, Saudi Crown Prince Mohammed bin Salman has been working with teams of consultants to develop his vision for the $500 billion Neom city in the currently barren northwestern corner of Saudi Arabia.

It won’t be desert for long, though — MBS plans to use “cloud seeding” to produce rain over Neom, cooling the city and making fresh produce widely available.

Future citizens not interested in visiting the farmer’s markets will instead be able to make reservations at a Michelin-star restaurant, which Neom aims to have more of per inhabitant than any other place in the world, according to the plans.

As for what else you’ll find in Neom, the WSJ notes plans for world-class schools with hologram teachers, the planet’s best-paying jobs, and glow-in-the-dark sand, because, well, that’s what the Crown Princes wants, two people familiar with the project told the WSJ.

“Neom is all about things that are necessarily future-oriented and visionary,” Neom Chief Executive Nadhmi al Nasr told the WSJ. “So we are talking about technology that is cutting edge and beyond — and in some cases still in development and maybe theoretical.”

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Saudi Arabia

NEOM Bay Airport first flight arrives…

August 3, 2019

NEOM Bay Airport welcomed its first Saudi Arabian Airlines flight. NEOM, a $500 billion megacity in the Kingdom’s northwest, is a key part of Saudi Arabia’s 2030 vision to diversify its economy and boost international business ties.

Passengers travelled to NEOM Bay Airport on two Airbus A320 planes to familiarise themselves with the area as they are working on the project.

NEOM CEO Nadhmi Al-Nasr said: “We wanted our employees to experience the project which they have been working on to make a success since its inception last year.

There is a big difference between knowing the details of the project in theory and visiting it practically, exploring its treasures, beauty, and heritage.”

He thanked Saudi Arabian Airlines for facilitating the trip, and said he looked forward to further cooperation with them and with other transport companies to serve NEOM residents and visitors in the future.

www.neom-property.com

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