Retal unit awards Saudi's Al Khobar City mixed-use project contracts
Saudi-based Retal Urban Development Company has announced that one of its key ventures Remal Al Khobar Real Estate Company has awarded a construction contract worth SAR450 million ($120 million) for its Retal Rise and Nobu Hotel projects in Al Khobar City.
A major project in the kingdom's Eastern Province, Retal Rise features 129 residential units, while the Nobu Hotel consists of 101 rooms and 62 residential units managed by Nobu, in addition to the Nobu Restaurant and Café.
All these projects are located in a unique location in the city of Al Khobar, overlooking the Corniche.
Remal Al Khobar, a joint venture 50% owned by Retal Urban Development Company, has signed up Specialized Construction Company for the project.
Its scope of work includes implementation of MEP works for Retal Rise and Nobu hotel in addition to Nobu restaurant and café in Al Khobar City.
The entire work will be completed within a 15-month period from the effective date of the agreement.
On the financial impact, Retal said the project is expected to have a positive impact on the company's results post the start of the project execution for 2025 & 2026.- TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tourism Breaking News
2 hours ago
- Tourism Breaking News
China extends visa-free entry to four GCC countries
Post Views: 35 China has launched a trial policy granting unilateral visa-free entry to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain, expanding its visa-free access list to 47 countries, as per the recent report. Effective until June 8, 2026, the policy allows ordinary passport holders from these four Gulf Cooperation Council (GCC) countries to enter China visa-free for up to 30 days for business, tourism, family visits, cultural exchange, and transit. The policy has been warmly received across the Gulf region and is expected to enhance bilateral exchanges, strengthen cultural and people-to-people ties, and drive broader cooperation between China and the GCC. Currently, around 20 direct flights operate weekly between key Chinese cities—including Beijing, Shanghai, Guangzhou, and Shenzhen—and Saudi cities like Riyadh and Jeddah. The UAE is connected to 13 cities across mainland China through direct flights. This expansion marks a significant step in building economic and cultural relations between China and the Gulf states.
Middle East Eye
4 hours ago
- Middle East Eye
Rights groups accuse Airbnb over listings in illegal Israeli settlements
Rights groups have called for the UK's National Crime Agency to investigate Airbnb over alleged money laundering offences they say it may have committed by listing holiday properties in Israeli settlements in occupied Palestinian territories. Airbnb, according to two legal organisations which have brought the complaint, may have violated laws that make it an offence to handle money and property knowingly derived from criminal acts through its more than 300 listings in the West Bank and East Jerusalem. On Tuesday, the organisations - the UK-based Global Legal Action Network (Glan) and Palestinian human rights group Al-Haq - announced that they have filed a criminal complaint with the National Crime Agency over Airbnb's UK subsidiary. Airbnb is currently listed in the Office of the United Nations High Commissioner for Human Rights' database of businesses involved in activities in Israeli settlements in the West Bank, East Jerusalem and the occupied Syrian Golan Heights. The filed complaint, one of several coordinated efforts announced on Tuesday, comes after the International Court of Justice July 2024 ruling that Israel's occupation of Palestinian territory is illegal. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters 'At a time when we are witnessing genocide in Palestine, businesses like Airbnb are providing services that deny the Palestinian people their means of subsistence, threatening the viability of the group,' said Shawan Jabarin, general director of Al-Haq. 'Following the finding by the International Court of Justice, that Israel's occupation is illegal, business activities trading in goods and services that maintain the illegal occupation, must come to an end.' In 2018, following a Human Rights Watch report which said that Airbnb's listings in settlements were unlawful under international humanitarian law, the company said it would remove listings in the settlements. But the company decision was reversed after legal action was brought in the US by hosts and guests of the listed properties, with Airbnb saying it would donate all proceeds from the rentals to humanitarian organisations. A spokesperson for Airbnb said on Tuesday that the company operates "in compliance with applicable Irish and US laws". "Since 2019, Airbnb has donated all profits generated from host activity in the West Bank to an international nonprofit, in line with our global framework on disputed territories," the spokesperson said. In addition to the complaint filed in the UK, Glan has also filed a legal challenge at Ireland's High Court after the Irish police refused to investigate the role of Airbnb Ireland in facilitating the listings of settlements. Additionally, Glan has sent a 'preservation letter' to Airbnb's parent company, the first step in proceedings under the US Foreign Legal Assistance statute which allow for the discovery of documents to support the Irish and UK actions. Glan senior lawyer Gerry Liston said: 'These are the first ever cases to apply anti-money laundering legislation in the UK and elsewhere to business activity in the illegal Israeli settlements. "They demonstrate that senior executives of companies profiting from Israel's occupation of Palestinian territory risk prosecution for a very serious criminal offence.'
Al Etihad
4 hours ago
- Al Etihad
Visa-free access extended to 4 more Gulf countries by China
10 June 2025 15:26 BEIJING (Xinhua)China this week launched a trial policy that grants unilateral visa-free entry to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain, expanding its unilateral visa-free access list to 47 the policy, which will remain in effect through June 8, 2026, holders of ordinary passports from these four countries can enter China without a visa for up to 30 days for purposes such as business, tourism, family visits, cultural exchange, and the United Arab Emirates and Qatar have established reciprocal visa-free arrangements with China since 2018, which means all six member states of the Gulf Cooperation Council (GCC) now enjoy visa-free access to expansion has been warmly welcomed across the Gulf region and is expected to boost bilateral exchanges, strengthen cultural and people-to-people ties, and inject new momentum into broader China-GCC a statement posted on platform X following China's announcement in late May, the Saudi Ministry of Foreign Affairs said the move would "contribute to encouraging mutual visits and deepening the bonds of friendship between the two friendly peoples."Naif Awlia, director of tourism and engagement at Saudi tourism developer Diriyah Company, also hailed the policy as a positive step forward. "Friendly ties are the foundation of long-term cooperation, and we look forward to deepening our partnership with China," he Travel, one of the largest travel companies in the Gulf region and an early mover in promoting outbound tourism to China, has launched new travel packages since the announcement, targeting residents of the UAE, Bahrain, and Saudi and Gulf countries already enjoy strong air travel connectivity, and the new visa-free policy is anticipated to further boost travel about 20 direct flights operate weekly between major Chinese cities -- including Beijing, Shanghai, Guangzhou, and Shenzhen -- and Saudi destinations such as Riyadh and Jeddah. The UAE is connected to 13 cities across the Chinese mainland with direct ahead, Chinese carrier Hainan Airlines plans to launch a direct Haikou-Jeddah route on June 28, while UAE carrier Emirates will begin daily nonstop service between Dubai and Shenzhen on July say the new policy reflects the growing political, economic, and cultural ties between China and the Gulf region. In 2024, trade between China and GCC countries reached $288.09 billion, making the GCC China's sixth-largest trading latest step underscores China's continued push to open its doors wider to global visitors, in line with its commitment to high-level late 2023, China has introduced a series of traveler-friendly policies. Starting June 1, holders of ordinary passports from Brazil, Argentina, Chile, Peru, and Uruguay are eligible for unilateral visa-free entry -- the first time such access has been extended to Latin American and Caribbean the visa-free transit period has been extended to 240 hours for travelers from 54 initiatives have already had a noticeable impact. In 2024, China recorded 3.39 million entries under its unilateral visa-free policy, a year-on-year surge of 1,200 percent. During the recent three-day Dragon Boat Festival holiday, 231,000 foreigners entered China without a visa, up 59.4 percent from a year earlier. Dai Bin, president of the China Tourism Academy, said foreign travelers come not only to visit China's landscapes and cities but also to experience everyday life. "These visits offer opportunities to discover the real China," he said.
