Saudi: Diriyah Announces 1st of its Global Hotel Portfolio

As part of the transformation of the historic city of Diriyah, (DGDA) announced the first 14 of its planned 38 hotel brands
As part of the transformation of the historic city of Diriyah, (DGDA) announced the first 14 of its planned 38 hotel brands
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Saudi: Diriyah Announces 1st of its Global Hotel Portfolio

As part of the transformation of the historic city of Diriyah, (DGDA) announced the first 14 of its planned 38 hotel brands
As part of the transformation of the historic city of Diriyah, (DGDA) announced the first 14 of its planned 38 hotel brands

Saudi Arabia’s Diriyah Gate Development Authority (DGDA) has announced the first 14 of its planned 38 hotel brands over the coming years, 15 minutes northwest of Riyadh city center.

“DGDA has received overwhelming interest from the world’s most revered luxury five-star brands to have a presence within the development’s carefully curated collection of 38 hospitality brands. Currently the concept design is nearing completion for the first 14 brands and DGDA looks forward to unveiling additional hotel operators as their designs advance further,” the Authority said in a press release on Wednesday.

The development – which remains on time, on budget and on track – will be the first giga project in the world to simultaneously open, ground-break and announce world class assets every year from 2022 until completion in 2026. It will also be the first of Saudi Arabia’s giga projects to open assets, with its first 18 restaurant brands launching in Bujairi Terrace in early 2022.

The hotel brands are strategically located across two of DGDA’s four master plans – Diriyah Gate and Wadi Safar. Hotel brands coming to Diriyah Gate phase one, a five square kilometer mixed-use heritage, tourism and lifestyle destination, set to become the world’s largest cultural and heritage city – in alphabetical order - include Address Hotels & Resorts, part of the Emaar Hospitality Group, which stays true to its tagline ‘Where Life Happens’ offering guests opportunities to celebrate life and its most cherished moments; whilst Baccarat Hotels & Resorts will offer guests an artistic atmosphere catering to opulent social moments.

Located in the Bujairi district will be a Campbell Gray Hotels and Resorts property, combining sustainability and Najdi design with modern glamor to Diriyah Gate; the development will also offer a 100-key hotel by Capella Hotels and Resorts which will embody excellence in the craft of hospitality and curate unique experiences for guests to truly immerse in the local community; Fauchon, the purveyor of French contemporary gastronomy since 1886, will launch its first Fauchon Hotel in the Middle-East, showcasing the perfect Parisian “art de vivre” experience; and an 80-key retreat from LXR Hotels & Resorts, Hilton’s exclusive collection of legendary, independent properties, representing the brand’s debut in Saudi Arabia.

In addition, Orient Express will make its debut into the Middle East, bringing the refined nomadic spirit and state-of-art detailing that characterize the artisan of travel; while Raffles will reinterpret artistic and cultural tradition through an inspiring contemporary lens, with breath-taking views of Wadi Hanifah from its rooftop; there will be a luxury Park Hyatt property boasting meaningful interiors by world renowned designers; or guests can relax in the surrounds of The Ritz-Carlton which will fuse the past and present through elegant design and intuitive service. Finally, international grand and gracious Rosewood Hotels & Resorts will add a new urban sanctuary to its collection of global properties and The Luxury Collection will also be arriving in Diriyah, offering a unique and cherished expression of its location.

To the west of Diriyah sits Wadi Safar - a place of outstanding cultural history; and a destination steeped in heritage and rich cultural tradition nestled within 60 square kilometers of unspoilt natural landscape. Much as this special location was once the gathering place for traders and travelers from Asia, Africa and Europe, Wadi Safar is being developed to become today’s modern embodiment: a cultural hub where the world’s finest experiences and visionary minds will combine. This unique and ever-evolving story is being shaped by a chorus of exceptional brands and voices. These include the world class Oberoi brand who will bring their unremitting dedication to warm hospitality and perfection in a serene setting; and the purposeful sustainability and wellness commitment of Six Senses, inviting guests to reconnect to the region through crafted experiences. These hotel partners and more will come together to create a new global landmark and construct a new legacy for the Kingdom.

The hotel openings will commence in a strategically articulated manner with the first property which will be a part of The Luxury Collection, operated by Marriott International, due to open in 2022 with 141 keys.

“This prestigious hotel collection will set the stage for a new level of global hospitality,” Jerry Inzerillo, Group CEO of DGDA, said.

Jonathan Timms, President of Diriyah Development Company, added: “The announcement of our forthcoming hotel collection is a major milestone in our development’s progress. Each hotel partner has been carefully selected and curated to ensure our guests receive the highest standard of hospitality, whilst enticing them to explore Diriyah and the Kingdom through much-loved brands.”



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.