Page 12 - November 2021

middle east

SAUDI ARABIA REVEALS ITS LATEST TOURISM
PROJECT CALLED ‘THE RIG’

Taking its inspiration from offshore oil platforms, ‘The
Rig’ will span an area of more the 150,000sq m and will
include three hotels, world-class restaurants and a range
of adventure activities, including extreme sports.
Saudi Arabia’s Public Investment Fund (PIF) has
revealed ambitious plans to build the world’s first
tourism destination on offshore platforms. According to
a promotional video posted by PIF on social media the
development, which takes its inspiration from offshore
oil platforms, will also incorporate a roller coaster, water
slides, diving and a 50-berth marina.
To support Saudi Arabia’s efforts to become a leading
global tourist destination, PIF has established several
major projects and companies in various regions
within the country, including the Red Sea Development
Company, Alsoudah Development Company and the
Cruise Saudi Company.

MARK YOUR CALENDARS AS THE LUXURIOUS PLACE VENDÔME IS SET TO OPEN ON 2 FEBRUARY NEXT YEAR, CO-FOUNDER OF THE PROJECT ABDULAZIZ AL RABBAN ANNOUNCED. AL
RABBAN MADE THE ANNOUNCEMENT TO SOCIAL MEDIA PERSONALITY KHALID JASSIM DURING HIS COVERAGE OF THE MULTI-BILLION BUILDING IN LUSAIL CITY. THE PROJECT CONSISTS
OF A MALL, THREE HOTELS, RESTAURANTS, CAFES, INTERNATIONAL BRAND STORES WITH AN AREA OF APPROXIMATELY 1,000 METRES. THE BUILDING ALSO CONTAINS A FULLY AIR-
CONDITIONED OUTDOOR AREA, DAILY LASER SHOWS AND FOUNTAINS. ITS HOTELS AND RESIDENCES WILL ALSO BE OPERATED BY STARWOOD HOTELS AND RESORTS.

UAE RETAIL GIANT MAKES DEVELOPER DEYAAR
KEY APPOINTMENT NETS $245M IN SALES

UAE-based retail giant Majid Al Futtaim has announced the Deyaar Development has announced sales of AED900M in its
appointment of Mace, the global consultancy and construction skyscraper project, Regalia, in Business Bay which was launched
company, to support the delivery of its Riyadh North development, back in July.
including the Mall of Saudi. The company said its Riyadh North Nasser Amer, Vice President Sales and Customer Service
development is the fastest growing zone in the city and is already commented: “The project witnessed an overwhelming response
gathering pace. from domestic as well as international investors seeking quality
Mace, which was appointed following a competitive regional high-end developments reaffirming the level of trust and
tender process, has already mobilised its team and will oversee the confidence our investors have in the quality of our developments
entire Riyadh North development spanning nearly one million square and products. More than 85 per cent of the units were sold
metres of built-up area, including planning, construction, commercial which is a clear testimony to the appetite the market has for
and control management for the duration of the contract. luxury developments.”
The SR16 billion master-planned Riyadh North project and Mall of The 70-storey premium residential building will feature smart
Saudi is expected to house over 600 retail stores across a 300,000sq home-enabled apartments. It offers a wide range of recreational
m gross leasable area, nine hotels and branded residences with 2,000 and wellness amenities, including an Olympic-size infinity pool, a
keys, and Ski Saudi – the largest indoor ski slope and snow park in gymnasium and an outdoor winter cinema.
the Middle East. It will create more than 114,000 direct and indirect Deyaar said that with the successful launch of Regalia, further
jobs by its completion. new projects are currently under consideration.

12 RETAIL & LEISURE INTERNATIONAL NOVEMBER 2021