عربي English Türkçe اردو فارسى
Logo
Latest News
Business

PIF Unveils Innovative Qiddiya Project Logo

The Qiddiya city logo.
The Qiddiya city logo.
TT
20
TT

PIF Unveils Innovative Qiddiya Project Logo

The Qiddiya city logo.
The Qiddiya city logo.

The Saudi Public Investment Fund revealed the logo of the Qiddiya Project that plans to build the largest cultural, recreational and sports city in the Kingdom. The design of the innovative logo reflects the unique geography of the region where the city will be established.

The Qiddiya project was announced earlier this year.

The city will be constructed 40 kilometers away from central Riyadh in the Qiddiya region..

The design of the logo was inspired from the breathtaking Tuwaiq mountain range in the Qiddiya region that will overlook the city once it is complete. The lines of the logo reflect the abilities of the residents of the Kingdom and their vibrant colors represent the residents’ diverse capabilities and identities. The logo embodies the project’s goal of providing special recreational destination for Saudis where they will be able to unleash their talents in various fields.

The Qiddiya project highlights the heritage of the region and reflects the beauty of the location that will become an important landmark that will meet the demands of the Kingdom’s recreational, cultural and social needs.

Qiddiya city is one of the significant investment initiatives that provides a diverse number of recreational venues. It also supports the Saudi Vision 2030 that aims at diversifying the sources of national income, bolster the Kingdom’s economy and create job opportunities for the local youth.

Qiddiya city allows visitors to enjoy a number of recreational and educational activities through six main venues that include an amusement park, sports arenas, racing rings, water and snow games, gorgeous natural vistas and several cultural and heritage centers.

Construction of Qiddiya city is expected to begin in 2018 and the first phase of the city will be opened in 2022.

Most Viewed

 
Business

Dar Global Unveils $12.5 Billion Expansion Drive with Major Saudi Projects 

The Dar Global logo is seen at one of its projects. (Asharq Al-Awsat)
The Dar Global logo is seen at one of its projects. (Asharq Al-Awsat)
TT
20
TT

Dar Global Unveils $12.5 Billion Expansion Drive with Major Saudi Projects 

The Dar Global logo is seen at one of its projects. (Asharq Al-Awsat)
The Dar Global logo is seen at one of its projects. (Asharq Al-Awsat)

Dar Global, the London-listed real estate developer, announced on Monday strategic expansions into the broader capital markets, raising the Group’s Gross Development Value to approximately $12.5 billion, up by 67%.

The company said it secured a new significant joint development agreement with Dar Al Arkan and completed strategic land acquisitions for large-scale projects in Riyadh and Jeddah with a combined GDV of around $4.8 billion.

In Riyadh, the company said it secured development rights through partial land acquisition and joint development agreement over a major integrated scheme valued at $2.8 billion, anchored by a $300 million land acquisition.

In Jeddah, a further joint development agreement covers a landmark mixed-use project on one of the city’s most prominent land parcels, with an estimated GDV of $1.95 billion.

The expansion capitalizes on Saudi Arabia’s rapid economic transformation, as it opens up to foreign ownership and the sustained demand for world-class real estate in the Kingdom, Dar Global said.

These are significant parcels of land with the opportunity to develop luxury villas, a world-class golf course and a luxury hotel, it added.

To fuel this growth, Dar Global said it increased its Litmus financing facility from $275 million to $440 million, adding $165 million in fresh liquidity.

The expansion was underwritten by a consortium of prominent regional banks, including Emirates NBD and supported by ADCB, FAB and Zand Bank.

“This enhanced liquidity will accelerate the Company’s existing projects and enable greater flexibility in pursuing new opportunities across the Middle East, Europe and North America, reinforcing long‑term resilience and execution capacity,” the company said.

Also, Dar Global said it is acquiring a licensed financial services company in the Dubai International Financial Center (DIFC).

The entity is authorized to provide a wide suite of services, including asset management, investment banking, and advisory activities.

Operated as an independent subsidiary with its own governance structure, the platform will allow the company to broaden its revenue streams and reduce reliance on development cycles.

“These milestones mark an important inflection point for Dar Global. In Saudi Arabia, we are delivering landmark projects in prime locations and looking to bring in more overseas investment as the Kingdom opens up,” said Ziad El Chaar, CEO of Dar Global.

“The enhanced financing facility reinforces our balance sheet to fuel growth at scale and the establishment of a financial services arm in DIFC enhances our ability to structure capital and unlock global opportunities that previously would not have been available to the Group,” he added.

El Chaar also noted that these initiatives reflect not just confidence in the company’s strategy, “but also the unique position we occupy as a bridge between high-growth markets and international investors.”