NEOM Announces Zardun, its New Luxury Ecotourism Destination

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
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NEOM Announces Zardun, its New Luxury Ecotourism Destination

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)

NEOM's Board of Directors announced on Wednesday the launch of "Zardun", an exclusive resort and natural reserve that will contribute to the restoration and revitalization of the surrounding environment, supporting NEOM's efforts to develop luxury ecotourism in Saudi Arabia.

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region.

Overlooking the turquoise waters of the Gulf of Aqaba, Zardun Nature Resort will feature four distinctive, ultra-luxurious buildings that will blend harmoniously with the surrounding landscape. Zardun is a one-of-a-kind destination that blends luxury with nature and aims to offer visitors the ultimate ecotourism experience.

The new mountain-to-beach destination will span four square kilometers and has been carefully designed as a reserve that preserves the diversity of its rich habitat of local flora and fauna. Visitors will be able to experience its beauty through the state-of-the-art Experience Center, which includes an observation deck with a 360-degree panoramic view that allows visitors to observe the details of wildlife and enjoy the natural landscape of the surrounding environment.

Zardun will feature three luxury boutique hotels with 100 rooms and suites, designed with a futuristic vision that promotes sustainability to preserve this environment that is being developed for the first time. Each hotel will take a different approach to delivering distinctive experiences for guests, with stunning views of the valley floor and beachfront.

Zardun will offer hiking, mountain biking, rock climbing, and other sports and recreational activities, including stargazing, meditation, and yoga. In addition, visitors will be encouraged to join educational and field programs on nature protection, conservation, and resettlement.

Zardun's sustainability strategy includes pioneering conservation methods, including the development of a series of oases to support diverse natural habitats. The area's existing water sources will help revitalize the natural habitat of local flora and fauna. Along its coastline, Zardun will also support a vibrant marine ecosystem, including the preservation of coral reefs and other marine species in the Gulf of Aqaba, exemplifying NEOM's ongoing commitment to nature conservation.

Zardun joins the latest projects recently announced by NEOM, including Leyja, Epicon, Siranna, Utamo, Norlana and Aquellum, which are sustainable tourism destinations on the Gulf of Aqaba, all of which exemplify NEOM's commitment to sustainable progress.



Gold Prices Extend Gains as Equities, Bond Yields Weaken

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
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Gold Prices Extend Gains as Equities, Bond Yields Weaken

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold prices extended gains to a second session on Wednesday, driven by weaker equities and bond yields, while traders eagerly await US economic data to gauge the Federal Reserve's timeline on a potential rate reduction.

Spot gold was up 0.5% at $2,675.25 per ounce, as of 1033 GMT, and trading about $10 below a record high of $2,685.42 scaled last month. US gold futures gained 0.5% to $2,691.90, Reuters reported.

"Seems the gold market wants to see a record high, with prices marginally below the late-September record high with support coming from a slightly risk-off environment with equities down," UBS analyst Giovanni Staunovo said.

Safe-haven bullion tends to be a preferred investment in a low interest rate environment and during economic and geopolitical turmoil.

"The uncertainly surrounding US elections and geopolitical tensions will also support gold going forward," said ANZ commodity strategist Soni Kumari.

The benchmark 10-year note yields slipped to more than a one-week low, making non-yielding gold more attractive.

Market participants are keeping a keen eye on US retail sales, industrial production and weekly jobless claims data, due on Thursday.

Gold needs a stronger-than-expected data to change the rate-cut trajectory, but this should still boost investment demand and drive prices to a record high in the coming months, UBS' Staunovo said.

San Francisco Federal Reserve Bank President Mary Daly said the central bank remains on track for more cuts this year as long as data meets expectations.

Delegates at the London Bullion Market Association's annual gathering predicted gold prices would rise to $2,941 over the next 12 months and silver prices would jump to $45 per ounce.

Spot silver firmed 1.1% to $31.83. Platinum rose 0.6% to $990.05 and palladium was up 0.6% to $1,015.75.

The Guangzhou Futures Exchange (GFEX) will launch platinum and palladium futures in Q1 2025, according to the producers' council.