TDF reinforces Kingdom’s position as top global tourism hub

Updated 16 November 2024

Arab News

November 16, 2024 22:03

The Tourism Development Fund concluded its participation in the World Travel Market in London, reinforcing Saudi Arabia’s position as a leading global tourism hub, having highlighted the vast investment opportunities in the Kingdom’s tourism sector, a TDF press release said.

Over the course of the event, TDF engaged with top industry leaders, investors, and decision-makers from around the world to attract high-value foreign investments that align with the National Tourism Strategy and support Saudi Vision 2030.

As part of the Saudi Land pavilion, TDF showcased a diverse range of current and future projects boosting the Kingdom’s tourism sector, and highlighted its suite of innovative financing solutions and investment incentives.

These efforts were crowned with the signing of a memorandum of understanding with Dusit International, which focuses on developing luxury hospitality projects at key destinations across Saudi Arabia, offering guests unique and superior tourism experiences.

Throughout the event, TDF representatives provided in-depth briefings on the fund’s initiatives and achievements, and underscored TDF’s critical role in supporting tourism ventures and developing premier tourism destinations that align with Saudi Arabia’s long-term tourism vision.

The team also emphasized the significance of international collaboration, which is instrumental in building a sustainable tourism sector that benefits both investors and visitors.

In addition to promoting Saudi Arabia as a premier destination for tourism investments, TDF highlighted the Kingdom’s development to strategic partnerships in various sectors, particularly in hospitality and leisure tourism.

It reiterated its commitment to backing high-impact projects that will help achieve the Saudi Vision 2030 target of increasing the contribution of tourism to the national economy.

According to TDF, its participation in the World Travel Market is the culmination of its continuous efforts to make Saudi Arabia a top destination for tourism investment. It also reaffirms the fund’s commitment to supporting sustainable projects that expand the tourism offerings and services available to both visitors and investors, in line with the Kingdom’s ambition to become a global tourism powerhouse.

Important to build relationships, says Riyadh Air VP of global communications

Updated 19 March 2025

Jasmine Bager

March 19, 2025 22:31

Important to build relationships, says Riyadh Air VP of global communications

Updated 19 March 2025

Jasmine Bager

March 19, 2025 22:31

RIYADH: To commemorate the year ahead, Riyadh Air recently hosted a sahoor in historic Diriyah, bringing the community together in a private setting to answer questions and interact with attendees.

Ian Bradley, vice president of global communications at Riyadh Air, spoke to Arab News about building connections.

“Being in Diriyah is hugely symbolic for the birthplace of Saudi Arabia — and our birth will be coming by the end of this year,” Bradley told Arab News.

“It’s very important to build relationships with the media and influencers here in the Kingdom — they help us spread our message out to a wider audience. And throughout the rest of this year, we’ll have so many new things to talk about as people get excited toward our launch,” he said.

At the event, Osamah Al-Nuaiser, senior vice president of marketing and communications at Riyadh Air, spoke about the company’s upcoming big plans.

“We partnered up with Delta — which is the No. 1 airline in the world. So, we have engaged with multiple partners, and we have handpicked and selected them for a reason, to engage directly with the airline and build a strong and solid relationship for the future,” Al-Nuaiser said.

When asked whether Riyadh Air has secured alliances, Al-Nuaiser was transparent.

“We haven’t joined an alliance, and the reason is to make sure that we connect our values between both airlines, to connect our commitments as well, and to make sure that we are on the same level of premium offering, premium service and connectivity.”

Riyadh Air started more local.

“We started off with Saudia Airlines,” Al-Nuaiser said, highlighting engagement with Egypt Air, Turkish Airlines, Singapore Airlines and two Chinese carriers. He added that the airline also engaged with Virgin Atlantic for connectivity between Riyadh, London and beyond. “We will soon announce partnerships with other airlines,” Al-Nuaiser said.

A timeline highlights key events for 2025 so far. On Jan. 8, CATRION signed a strategic agreement to deliver world-class culinary experiences with Riyadh Air.

Shortly after, on Jan. 13, the first technical spare part, named “Jamila,” arrived.

On Feb. 4, LIV Golf signed a multi-year partnership.

On Feb. 13, Riyadh Air unveiled its brand sonic, composed at the legendary Abbey Road Studios.

On Mar. 4, SGS signed a SR500 million ($133 million) contract for ground handling services across Saudi airports.

Riyadh Air’s sahoor paid homage to old traditions and the new airline by respecting the roots of local culture. Artisans created clay cups, and a calligrapher handwrote names on them, offering them as tokens for attendees to take home.

“We see ourselves in the hospitality business. So, we make sure that we enter the market with a solid, unique setting proposition,” Al-Nuaiser said.

Riyadh Air’s maiden flight is expected in late 2025.

Layalina  tent offers standout iftar, sahoor experiences

Updated 19 March 2025

Lama Alhamawi

March 19, 2025 22:30

Layalina  tent offers standout iftar, sahoor experiences

Updated 19 March 2025

Lama Alhamawi

March 19, 2025 22:30

RIYADH: Riyadh’s newest Ramadan tent, Layalina, is making waves as this month’s hotspot destination.

Hosted by The Ritz-Carlton, Riyadh, Layalina offers a blend of traditional and modern experiences, creating an unforgettable atmosphere for guests looking to break their fast or enjoy a lively sahoor.

Bringing the event to life alongside The Ritz-Carlton is the Saudi-founded PR services, Modern Era.

Known for its dynamic approach, Modern Era has played a key role in transforming the Ramadan tent into an epic celebration, featuring top-tier entertainment and a carefully curated culinary experience.

Renowned for offering the largest buffet in Riyadh, The Ritz-Carlton’s Layalina Ramadan tent boasts an impressive spread of dishes.

Guests can indulge in a diverse selection of international and Saudi cuisine, making every meal a memorable one.

The extensive menu includes a variety of international appetizers, chilled seafood, multiple live cooking stations, an array of main courses, and a lavish pastry station filled with delicious desserts.

Layalina is divided into two distinct experiences — iftar and sahoor. Those seeking a peaceful setting to break their fast can enjoy a serene atmosphere, while guests looking for an engaging and entertaining night out can attend the lively sahoor sessions.

With its grand offerings, Layalina offers something for everyone throughout Ramadan.

At the heart of the Layalina Ramadan tent is a central stage, featuring some of the region’s top entertainers. The grand opening of the tent set the bar high, delivering an evening filled with laughter and elegance with Abla Fahita. Known for her signature humor and charm, Fahita took center stage, captivating the audience and setting the tone for an exciting season ahead.

Also taking the stage were notable names such as Egyptian comedian Shaimaa Said, musical artist Hajjer El Khashab, Saudi actor and comedian Ibrahim Al-Khairallah, and Shadi Alfons, each adding their own flair to the mix.

With these star-studded lineups, the Layalina tent is not just about dining — it is about creating lasting memories through entertainment and culture.

Layalina offers a luxurious Ramadan experience with iftar at SR500 ($133) and sahoor at SR325 per person. Children under six enter free, while those aged 6-12 receive a half-price discount (excluding 15 percent VAT).

Layalina tent bookings are available until March 31.

Arabian Travel Market to spotlight luxury travel as global demand rises

Updated 19 March 2025

Arab News

March 19, 2025 22:28

Arabian Travel Market to spotlight luxury travel as global demand rises

Updated 19 March 2025

Arab News

March 19, 2025 22:28

Arabian Travel Market is set to highlight the thriving luxury tourism sector when it returns to the Dubai World Trade Centre from April 28 to 1 May.

Bringing together top-tier hospitality brands, influential industry figures, and innovative travel destinations, the event will showcase the latest trends and insights that are shaping the high-end travel segment.

According to McKinsey and Company, the demand for luxury tourism and hospitality is expected to grow faster than any other industry. This is predominantly due to the rising number of high-net-worth individuals globally and a growing segment of aspiring luxury travelers willing to allocate larger proportions of their income to premium experiences.

The research suggests that luxury tourism and hospitality will reach $391 billion by 2028, up from $239 billion in 2023, with Asia gaining significant ground in the market segment.

Supporting this trend, data recently issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf revealed that GCC states earned $110.4 billion in international tourism revenues in 2023.

The largest share of tourists came from the Asia-Pacific region (38 percent), followed by the Middle East (25.1 percent), Europe (22.9 percent), Africa (8.8 percent), and the Americas (4.3 percent).

Danielle Curtis, exhibition director ME, Arabian Travel Markets, said: “The increase in inbound tourism from Asia and the growing wealth in this region create a major opportunity for Middle Eastern tourism, especially in the luxury sector.

“At ATM, Asia is among our fastest-growing markets for exhibitors, boasting a 27 percent increase in exhibitors from the region this year. National Tourism Organizations from destinations like Japan, Maldives, South Korea, India and Thailand are driving this growth, alongside regional tourist boards such as Rajasthan Tourism, Goa, Phuket, Hong Kong and Jakarta, all contributing to Asia’s expanding presence at ATM 2025 and the growing focus on luxury travel.”

Alshaya Group brands join Trendyol in the GCC

Updated 19 March 2025

Arab News

March 19, 2025 15:57

Alshaya Group brands join Trendyol in the GCC

Updated 19 March 2025

Arab News

March 19, 2025 15:57

Trendyol, one of the world’s leading e-commerce platforms, and Alshaya Group, one of the leading international retail franchise operators, have announced that Alshaya Group’s American Eagle, Bath & Body Works, and H&M brands are joining its GCC marketplace.

Shoppers in Saudi Arabia and UAE can now access these brands directly on Trendyol with more brands and additional markets set to follow in the near future.

This development builds on the partnership between Trendyol and Alshaya in Turkiye, where Bath & Body Works and Victoria’s Secret have been available for several years. Last November, the collaboration extended to Saudi Arabia with the launch of American Eagle, Bath & Body Works, and H&M on Trendyol. In the UAE, H&M and American Eagle launched in March, with Bath & Body Works set to launch soon.

Mohamad ElAnsari, CEO of Trendyol Gulf, said: “We are incredibly excited to partner with Alshaya and onboard a selection of Alshaya’s best-loved brands, which will undoubtedly add to the appealing product mix we offer to Gulf shoppers. This partnership further validates our value proposition of commerce enablement to both local and regional retailers and global brands.”

Rob Silsbury, vice president, marketing & online at Alshaya Group, said: “We are really pleased to continue to be working with Trendyol to bring our customers across the region even more ways to experience our brands. Our customers are at the heart of our strategy, and a vital part of this is growing the choices we bring to them — we know that many of them use Trendyol as well as visiting our stores, and we look forward to growing the number of our brands that they can see on the platform.”

Since its launch in the GCC a year ago, Trendyol has become one of the region’s most downloaded shopping apps, attracting over three million customers and featuring 80,000 sellers in the Gulf. The platform currently processes more than one million orders per month during peak periods, with 80 percent of these orders originating from Saudi Arabia.

The extended agreement with Alshaya Group will see the latest trends from the brands’ latest collections be made available on Trendyol.

Umm Al Qura for Development and Construction announces retail subscription coverage of 20 times

Updated 19 March 2025

Arab News

March 19, 2025 10:44

Umm Al Qura for Development and Construction announces retail subscription coverage of 20 times

Updated 19 March 2025

Arab News

March 19, 2025 10:44

Umm Al Qura for Development and Construction, the owner, developer and operator of MASAR Destination — one of the largest redevelopment projects in Makkah, recently announced the successful completion of the offering period for retail investors (Retail Subscription Period) for the company’s initial public offering.

The retail subscription process, comprising of a maximum of 13,078,614 shares, representing 10 percent of the total offer shares, commenced on March 5 and ended at 11:59 p.m. on March 9.

It saw participation from 1,048,530 subscribers, indicating a coverage of 20 times, with a total demand of SR3.93 billion ($1.05 billion). Individual subscribers will receive a minimum of 10 shares each, while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 1.0316 percent.

The final offer price for the offering was set at SR15 per share, pricing at the top of the range, implying a market capitalization of approximately SR21.58 billion (approximately $5.75 billion) at listing.

For more information about the IPO and the Company’s prospectus, visit the IPO website: ipo.ummalqura.com.sa/en.

Highlights of the offering

The CMA and Saudi Exchange approvals have been obtained for the offering and listing as outlined below.
The company’s substantial shareholders and the shareholders acting in concert will be subject to a lock-up period of 6 months, which will begin from commencement of trading of the shares on the Saudi Exchange.
The shares will be listed and traded on the main market of the Saudi Exchange following the completion of the IPO and listing formalities with the CMA and the Saudi Exchange.
The offering shall be restricted to the two following groups of investors:

Tranche (A): Participating parties: This tranche comprises investors eligible to participate in the book-building process in accordance with the Instructions for Book-Building Process and Allocation Method in initial public offerings, as issued by the Capital Market Authority, including investment funds, companies. These parties include investment funds, qualified foreign companies and institutions, GCC corporate investors and other foreign investors under swap agreements (said investors shall be collectively referred to as the “Participating Parties” and each as a “Participating Party”). The number of offer shares to be provisionally allocated to the Participating Parties effectively participating in the book-building process is 130,786,142 Offer Shares, representing 100 percent of the offer shares. In the event there is sufficient demand by individual investors (as defined under Tranche (B) below), the lead manager, in coordination with the company, shall have the right to reduce the number of offer shares allocated to participating parties to a minimum of117,707,528 offer shares, representing 90 percent of the offer shares. Final allocation of the offer shares to the participating parties will be made through the joint financial advisers following subscription by individual investors, as the joint financial advisers deem appropriate in coordination with the issuer, using the discretionary share allocation mechanism.

Tranche (B): Individual investors: This tranche includes Saudi natural persons, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi individual, who is entitled to subscribe for her own benefit in the names of her minor children, provided that she proves that she is a divorcee or widow and the mother of her minor children, any non-Saudi natural person who is resident in the Kingdom, or GCC nationals, in each case, who have an investment account and an active portfolio with one of the receiving agents and are entitled to open an investment account with a Capital Market Institution (collectively, the "Individual Investors", and each an "Individual Investor"). A maximum of 13,078,614 offer shares, representing 10 percent of the offer shares, shall be allocated to individual investors. In the event that the individual investors do not subscribe in full for the offer shares allocated to them, the joint financial advisers may reduce the number of offer shares allocated to individual investors in proportion to the number of offer shares subscribed for thereby.

The Law of Real Estate Ownership and Investment by Non-Saudis promulgated by Royal Decree No. M/15 dated 17/04/1421H (corresponding to 19/07/2000G) (hereinafter referred to as the “Law of Real Estate Ownership and Investment by Non-Saudis”) prohibits non-Saudi from acquiring ownership, easement or usufruct over real property located within the boundaries of the cities of Makkah and Madinah. This includes natural persons who are not nationals of Saudi Arabia, non-Saudi companies and Saudi companies that he establishes, participates in establishing, or owns shares in, any natural or legal person who does not hold Saudi nationality with some limited exceptions. However, under the special controls excluding the companies listed in the Saudi Stock Exchange, the phrase (non-Saudi) has the meaning as per the The Law of Real Estate Ownership and Investment by Non-Saudis issued by the Authority on 27/07/1446H (corresponding to 27/01/2025G). It allows foreigners to invest in Saudi companies listed in the Saudi Stock Exchange that own properties within the boundaries of the cities of Makkah and Madinah , provided that: (i) the foreign strategic investor does not own shares in the Listed Company and (ii) at all times does not exceed 49 percent of the shares of the listed company, which are not jointly owned by persons of natural and legal capacity. Accordingly, the foreign strategic investor is excluded from the investors targeted for the offering, and the ownership of natural and legal persons who do not collectively hold Saudi citizenship shall not exceed 49 percent of the company’s shares at all times.

TDF reinforces Kingdom’s position as top global tourism hub