The Red Sea, AMAALA to be tourist destinations for all seasons

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Updated 05 June 2022

The Red Sea, AMAALA to be tourist destinations for all seasons

The Red Sea, AMAALA to be tourist destinations for all seasons

RIYADH: The Red Sea Project and AMAALA will be year-round tourist destinations once it is ready, putting Saudi Arabia on the global tourism map, said a top official of The Red Sea Development Co. and AMAALA. 

“Summer, winter, spring or autumn, you name it; it will be a year-round destination,” said Ahmad Darwish, chief administrative officer at TRSDC and AMAALA, in an interview with Arab News on the sidelines of the Future Hospitality Summit.

He noted that the diversity offered by the Red Sea Project is impeccable and will make visitors stay for long.

“It’s the 90 islands, 200-kilometer coastline, dunes, mountains and volcano, all in one destination. In Red Sea Project, you are not just sitting on an island like the Maldives. Instead, you have other activities like excursions. It will increase your stay, and tourists will also have repeated visits,” he said.

Regenerative tourism

During the interview, Darwish said that TRSDC and AMAALA are now spearheading a journey beginning from sustainability to reaching regenerative tourism.

“We’re moving away from sustainability to regenerative tourism. It’s not just keeping things as it is. It’s improving the situation. We’re trying to do better things for the environment and habitats,” said Darwish.

He added: “It’s a combination of things that we will do to increase our positive impact on the region. It will increase our credibility further and bring additional partners, both international and local.”

Enhancing customer experience

Darwish revealed that both the Red Sea Project and AMAALA are wisely using technology to enhance the customer experience.

“These smart services intend to have a seamless journey for the customer. We’re also partnering with several other partners in the technology sector to improve the customer journey,” he said.


Nearly 60% of Saudi, UAE businesses lack ESG framework, survey shows

Nearly 60% of Saudi, UAE businesses lack ESG framework, survey shows
Updated 30 June 2022

Nearly 60% of Saudi, UAE businesses lack ESG framework, survey shows

Nearly 60% of Saudi, UAE businesses lack ESG framework, survey shows

RIYADH: Nearly 60 percent of businesses in Saudi Arabia and the UAE do not have an environmental, social and governance framework, a survey by ASDA’A BCW’s unit showed. 

Conducted by PSB Middle East, the survey also revealed that around half of those who have an ESG framework, are not sure their employees fully understand it. 

The survey marked the launch of OnePoint5, its new ESG advisory dedicated to the Middle East and North Africa region.

Out of the 200 respondents interviewed, 41 percent said their business already had an ESG framework in place, while 33 percent said they were developing one, while 26 percent admitted their company had no ESG policy. 

Around 52 percent of the respondents said their company had introduced an ESG framework and they did not fully understand it, which shows the need for raising awareness of the benefits of ESG standards. 

The research indicated that the Middle East’s business community had work to do to meet the high expectations of their governments on sustainability, Sunil John, president MENA of BCW, said. 

 


Saudi Arabia’s Retal signs $91m deal with PIF-backed Roshn to purchase plots in SEDRA

Saudi Arabia’s Retal signs $91m deal with PIF-backed Roshn to purchase plots in SEDRA
Updated 30 June 2022

Saudi Arabia’s Retal signs $91m deal with PIF-backed Roshn to purchase plots in SEDRA

Saudi Arabia’s Retal signs $91m deal with PIF-backed Roshn to purchase plots in SEDRA

RIYADH: Saudi Arabia’s Retal Urban Development has signed a SR339 million ($90.5 million) deal with the Public Investment Fund-backed Roshn Real Estate to buy 372 plots within its integrated community SEDRA in Riyadh.

Saudi-listed Roshn said it plans to develop the land according to its guidelines for SEDRA, according to MEED. 

Located in the north of Riyadh, the project was launched last August by Roshn, with a plan to include 30,000 homes across eight phases. 

The agreement is expected to directly impact Retal’s financials between 2022 and 2024.


Saudi authority approves Tibbiyah’s 51% acquisition of UAE health company 

Saudi authority approves Tibbiyah’s 51% acquisition of UAE health company 
Updated 30 June 2022

Saudi authority approves Tibbiyah’s 51% acquisition of UAE health company 

Saudi authority approves Tibbiyah’s 51% acquisition of UAE health company 

RIYADH: Saudi-based Arabian International Healthcare Holding Co., known as Tibbiyah, has got the General Authority for Competition’s approval to acquire a 51 percent stake in UAE’s Innovative Healthcare Co.

Operating as a holding company, Tibbiyah, through its subsidiaries, offers medical systems, healthcare equipment, and medical supplies in the Kingdom. 

The authority also approved Growth Avenue Investment Co.’s acquisition of a 40 percent stake in Saudi Medical System.

Since the beginning of 2021, the authority has approved 101 acquisitions. 


Egypt In-Focus: Egypt to buy 815,000 tons of wheat; power interconnection project with KSA underway

Egypt In-Focus: Egypt to buy 815,000 tons of wheat; power interconnection project with KSA underway
Updated 30 June 2022

Egypt In-Focus: Egypt to buy 815,000 tons of wheat; power interconnection project with KSA underway

Egypt In-Focus: Egypt to buy 815,000 tons of wheat; power interconnection project with KSA underway

CAIRO: Egypt has contracted to buy the largest quantity of wheat in a tender in at least a decade, as it takes advantage of the recent price drop. Additionally, the World Bank has agreed to provide the North African country $500 million in development funds to boost food security.
Egypt has contracted to buy the largest quantity of wheat in a tender in at least a decade, as it takes advantage of the recent price drop, Bloomberg reported. 

The country’s General Authority for Supply Commodities bought 815,000 tons to bolster stockpiles as Russia’s invasion of Ukraine disrupted global supplies.

According to data compiled by Bloomberg, the order is considered the largest single purchase since at least 2012. 

Food security

The World Bank has agreed to provide Egypt with $500 million in development funds to boost food security.

Egypt-Saudi electrical interconnection

The minister of electricity and renewable energy has said work is currently in progress on the electrical interconnection project with Saudi Arabia to exchange 3,000 MW at a cost of $1.8 billion. 

Mohamed Shaker told Daily News Egypt that the project is set to be operational by 2026.


Saudi low-cost airline flyadeal launches 5 new summer destinations for 2022

Saudi low-cost airline flyadeal launches 5 new summer destinations for 2022
Updated 30 June 2022

Saudi low-cost airline flyadeal launches 5 new summer destinations for 2022

Saudi low-cost airline flyadeal launches 5 new summer destinations for 2022

RIYADH: Saudi Arabia’s low-cost airline flyadeal has launched new summer destinations for 2022.

The news destinations include Amman in Jordan, Tbilisi in Georgia, Baku in Azerbaijan, Sharm El Sheikh in Egypt and Khartoum in Sudan. 

The budget airline’s network currently includes 24 domestic and international routes. 

The company operates a new fleet of 24 Airbus 320 aircraft with an age of only 2.1 years, CEO Con Korfiatis said. 

He added the airline approached 15 million passengers in a period of less than 5 years, which is an unprecedented number for an emerging airline.