海角直播

海角直播 opens Makkah and Madinah to foreign investments

海角直播 opens Makkah and Madinah to foreign investments
Strengthening the real estate sector and attracting more FDI into the Kingdom is one of the key goals outlined under the Vision 2030 program. (AFP)
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Updated 28 January 2025

海角直播 opens Makkah and Madinah to foreign investments

海角直播 opens Makkah and Madinah to foreign investments
  • Move aims to boost the capital market鈥檚 competitiveness and align with the Kingdom鈥檚 Vision 2030 economic diversification objectives
  • While non-Saudis allowed to purchase properties in Kingdom, there are restrictions, in the holy cities ownership is generally limited to Saudis

RIYADH: Foreigners can now invest in Saudi-listed companies owning real estate in Makkah and Madinah, following a landmark decision by the Saudi Capital Market Authority.

Effective immediately, the move aims to boost the capital market鈥檚 competitiveness and align with the Kingdom鈥檚 Vision聽2030聽economic diversification objectives, the CMA announced in a press release.聽

While non-Saudis are allowed to purchase properties in the Kingdom, there are specific restrictions, and聽in the holy cities聽ownership is generally limited to Saudi nationals 鈥 although聽foreigners are allowed to lease properties there.聽

Under the new guidelines, foreign investments are limited to shares or convertible debt instruments of listed companies. Total non-Saudi ownership, including individuals and legal entities, is capped at 49 percent of a company鈥檚 shares.

However, strategic foreign investors are prohibited from holding stakes in these companies.聽

The move聽comes amid reforms across the region, with most neighboring countries allowing foreigners to own properties, primarily in free zones or designated areas under certain restrictions.聽

鈥淭hrough this announcement, the Capital Market Authority aims to stimulate investment, enhance the attractiveness and efficiency of the capital market, and strengthen its regional and international competitiveness while supporting the local economy,鈥 said the CMA.聽

The changes are also designed聽to stimulate foreign聽direct investment in the Kingdom鈥檚 capital market, as well as bolster its regional and international competitiveness.聽

鈥淭his includes attracting foreign capital and providing the necessary liquidity for current and future projects in Makkah and Madinah through the investment products available in the Saudi market, positioning it as a key funding source for these distinctive developmental projects,鈥 added the CMA.聽

Strengthening the real estate sector and attracting more FDI into the Kingdom is one of the key goals outlined under the Vision 2030 program, as 海角直播 aims to reduce its dependence on crude revenues and diversify its economy.聽

The Kingdom aims to attract $100 billion in FDI by the end of this decade, and the government body聽has been implementing various initiatives and reforms to enhance the attractiveness of the聽capital market.

Some of these efforts include allowing foreign residents to directly invest in the聽stock market, enabling non-Saudi investors to access the market through swap agreements, and permitting qualified foreign capital institutions to invest in listed securities.聽

The CMA has also allowed foreign strategic investors to acquire strategic stakes in listed companies and聽directly invest in debt instruments.聽

In 2021, the CMA also allowed non-Saudis to subscribe to real estate funds investing within the boundaries of Makkah and Madinah, which played a crucial role in increasing the attractiveness of the capital market to both regional and international investors.聽

The share prices of real estate companies listed on 海角直播鈥檚 stock exchange surged following the CMA鈥檚 announcement.聽

Knowledge Economic City saw its share price rise by 9.89 percent to close at SR16.66 ($4.44).聽

Jabal Omar Development Co.鈥檚 share price also increased by 10 percent to SR25.85, while Makkah Construction and Development Co.鈥檚 stock price climbed 9.84 percent to close at SR106.聽


Saudi fashion showcased in Selfridges

Saudi fashion showcased in Selfridges
Updated 18 June 2025

Saudi fashion showcased in Selfridges

Saudi fashion showcased in Selfridges
  • London store to host designs by Kingdom鈥檚 rising stars

RIYADH: The Saudi Fashion Commission has teamed up with the Cultural Development Fund and British high-end department store Selfridges to showcase some of the Kingdom鈥檚 leading stylists.

Selected labels from the Saudi 100 Brands program and CDF beneficiaries, all of which blend modern Saudi aesthetics with innovative design techniques, will be on display at the store in London for the next two months, the Saudi Press Agency reported on Wednesday.

The commission鈥檚 CEO Burak Cakmak said: 鈥淭his is more than retail, it marks a new era for Saudi fashion, from Riyadh to London.鈥

The Saudi 100 Brands program supported designers in refining their craft and building global business opportunities, he said.

The partnership with Selfridges represents a significant milestone for the Saudi fashion industry, reflecting its rising momentum and evolving talent base. It also coincides with the Kingdom鈥檚 Year of Handicrafts 2025.

CDF CEO Majed Al-Hogail said the event highlighted the sector鈥檚 growing role in shaping 海角直播鈥檚 cultural economy.

鈥淪audi talents are redefining our creative identity, rooted in heritage, expressed globally,鈥 he said.


New award honors top Hajj hospitality centers

New award honors top Hajj hospitality centers
Updated 18 June 2025

New award honors top Hajj hospitality centers

New award honors top Hajj hospitality centers
  • The award recognizes top-performing hospitality centers affiliated with Ekram Al-Dayf

MAKKAH: Amr Al-Maddah, undersecretary for Hajj and Umrah services at the Ministry of Hajj and Umrah, has launched the inaugural Ekram Excellence Award for Hajj season 2025.

The award recognizes top-performing hospitality centers affiliated with Ekram Al-Dayf, a division of Ashraqat company serving Arab pilgrims, the Saudi Press Agency reported.

Adnan Saleh Al-Shehri, adviser for excellence and awards at Ekram Al-Dayf, said the initiative aims to inspire excellence in administration and operations.

It seeks to deliver high-quality, sustainable services in line with Vision 2030, the ministry鈥檚 goals, the Pilgrim Experience Program, and Ekram Al-Dayf鈥檚 strategy.

The award honors outstanding centers, promotes a culture of quality and commitment, and encourages compliance with service standards.

It also aims to boost competition among providers, improve performance indicators, and support innovation, according to the SPA.

The initiative further promotes social responsibility, volunteerism, and enhances the overall pilgrim experience. It aligns with the ministry鈥檚 broader efforts to raise hospitality standards and ensure an exceptional Hajj journey.


JIAT clears coalition of alleged rights violations in Yemen

JIAT clears coalition of alleged rights violations in Yemen
Updated 18 June 2025

JIAT clears coalition of alleged rights violations in Yemen

JIAT clears coalition of alleged rights violations in Yemen
  • Coalition forces identified four locations and carried out an air mission on what was considered a legitimate military target and in line with international humanitarian law

RIYADH: The Joint Incidents Assessment Team on Wednesday issued a statement in response to allegations of human rights violations in Yemen over the targeting of Sarwah Rural Hospital in Harib directorate, Marib governorate on April 24, 2015.

After examining various documents, including air tasking orders, daily mission schedules, mission execution procedures, after-mission reports and satellite images, the JIAT concluded that the hospital is located in Sarwah village and included on the coalition forces鈥 no-strike list.

Specialists studied satellite images of the hospital and found no trace of damage to its structures caused by aerial targeting.

Analyzing coalition air missions on April 24, 2015, the JIAT found no evidence of operations in Sarwah village. Similarly, missions on April 23 and April 25 showed no activity in the area.

In a press conference in Riyadh, JIAT spokesman Mansour Al-Mansour addressed an allegation that coalition forces targeted a mosque in Al-Sawad in Yemen鈥檚 Amran governorate on Sept. 23, 2019.

After reviewing air missions, the JIAT found that no coalition operations were carried out in Amran on that date.

By studying missions conducted the day before, the JIAT reported that intelligence indicated Houthi militia fighters were gathering at mobilization sites in Harf Sufyan in Amran in preparation for a major attack.

Coalition forces identified four locations and carried out an air mission on what was considered a legitimate military target and in line with international humanitarian law.

鈥淭he coalition forces have taken all possible precautions to avoid accidental loss or damage to civilians and civilian objects, or in any case, to minimize it to the lowest possible level, during the planning and execution of the military operation,鈥 Al-Mansour said.

The precautions included the use of 鈥済uided bombs proportionate to the size of the military targets and ensuring that there were no civilians present before or during the targeting,鈥 he said.

The JIAT concluded that the strike was lawful. It noted that while the targeted structure was claimed to be a mosque, no indications such as a minaret were found.

It also addressed an allegation that a coalition airstrike hit a pickup truck in Al-Jarr village, Hajjah governorate, followed by a second strike 10 minutes later that destroyed a house on June 16, 2019.

After reviewing air mission data, satellite images and visiting operational centers, the JIAT found no evidence of coalition activity on that date, nor on the days before or after. Satellite imagery also showed no signs of aerial targeting.

The JIAT concluded that coalition forces did not target Al-Jarr village, as claimed.

It also addressed an allegation that coalition forces targeted houses in Al-Hijrah village, Markhah Al-Sofla directorate in Shabwah on Jan. 4, 2019.

After reviewing air tasking orders, mission schedules, post-mission reports and satellite images, it found that no coalition air missions were conducted in Shabwah.

The JIAT also confirmed that no air missions were carried out in the governorate on Jan. 3 or Jan. 5, 2019, and concluded that coalition forces did not target houses in Al-Hijrah village as claimed.


FSB Sports Show Riyadh spotlights exhibitors powering sports, leisure solutions for urban future

FSB Sports Show Riyadh spotlights exhibitors powering sports, leisure solutions for urban future
Updated 18 June 2025

FSB Sports Show Riyadh spotlights exhibitors powering sports, leisure solutions for urban future

FSB Sports Show Riyadh spotlights exhibitors powering sports, leisure solutions for urban future
  • 海角直播鈥檚 plan to become center for world-class sports infrastructure gaining momentum

RIYADH: 海角直播鈥檚 ambitious plans to be a center for world-class sports infrastructure and recreation spaces are gaining momentum, with more than $2 billion in committed investments and a projected $5.9 billion in sports sector revenue by 2030.

With major international events, including the AFC Asian Cup 海角直播 2027, Asian Winter Games in NEOM鈥檚 Trojena in 2029, Riyadh Expo 2030, FIFA World Cup 2034 and the Asian Games in Riyadh in 2034 on the horizon, the Kingdom is accelerating development as part of Vision 2030.

Aligned with this ambition, the inaugural FSB Sports Show Riyadh 鈥 organized by DMG Events and Koelnmesse 鈥 welcomed thousands of industry leaders and professionals this week at the Riyadh International Convention and Exhibition Center.

Rob Hetherington, group business development director at Gebal Group, which was among the exhibitors, said: 鈥淪audi is our most important market that we are focusing on right now.

鈥淲e have been working in Saudi for five years now and have already developed over 40 to 50 outdoor spaces. So we have got a team that鈥檚 growing into double figures. Our company has 400-plus people and we are going to rapidly grow into the Saudi market.鈥

The company designs and supplies outdoor recreation areas and has developed skate parks for the Red Sea Project and at the Qiddiyah entertainment city, NEOM and Sports Boulevard, among other places.

鈥淲e delivered lots of fanzone spaces in Qatar for the World Cup. Our plan is to do the same thing for the World Cup in 海角直播,鈥 Hetherington said.

Muhammed Kazi, senior vice president for construction at DMG, said: 鈥淔rom active cities and giga-projects to school playgrounds and public parks, 海角直播 is transforming how it designs and delivers spaces for sports, wellness and recreation.鈥

Denis Steker, senior international vice president at Koelnmesse, said: 鈥淔SB is the international benchmark for innovations in sports and leisure facilities. As 海角直播 scales up investment across public parks, playgrounds or stadiums to increase the health and well-being of the public, now is the ideal time to bring this event to Riyadh.鈥

At the show, which ran from Monday to Wednesday, Scott Van Der Kleij, sales director at exhibitor GreenFields, told Arab News: 鈥淲e are here to get a better understanding of what the Saudi market is and especially towards the FIFA World Cup 2034.鈥

Ramsha Asghar, director for sports flooring at Neo Sports, said the event had 鈥渂een a really good opportunity to showcase our material and speak to really high-end individuals, and I am really excited for what鈥檚 to come from the sports projects.鈥

Bill Lennox, managing director at Yardex, which supplies artificial grass and is FIFA-certified, told Arab News he saw 鈥渢remendous volume and potential for the product鈥 in 海角直播.

The sports show was held concurrently with the International Hardware Fair 海角直播.

Gerald Bose, president and CEO of Koelnmesse, said: 鈥淟aunching both FSB Sports Show and International Hardware Fair marks a significant step in connecting global expertise with 海角直播鈥檚 rapidly advancing sectors.鈥

With more than 200 exhibitors and brands, the FSB Sports Show supported the Kingdom鈥檚 plans to develop inclusive and modern environments for community wellness and active living.

Among the standout attractions were TeleiosX, which gave visitors the chance to experience competitive, full-motion racing on the show floor, and a virtual golf simulator presented by Marafei Almarefah.


Immersive 鈥楧iriyah experience鈥 to open in London鈥檚 Knightsbridge

Immersive 鈥楧iriyah experience鈥 to open in London鈥檚 Knightsbridge
Updated 18 June 2025

Immersive 鈥楧iriyah experience鈥 to open in London鈥檚 Knightsbridge

Immersive 鈥楧iriyah experience鈥 to open in London鈥檚 Knightsbridge
  • Diriyah Experience House, at One Hyde Park, will feature the project masterplan for the city
  • Jerry Inzerillo: We are thrilled to launch the Diriyah Experience House in the heart of London

JEDDAH: A pavilion hoping to attract investment in the development of historic Diriyah will open in London鈥檚 prestigious Knightsbridge borough next month.

The Diriyah Experience House, at One Hyde Park, will feature the project masterplan for the city, which is projected to welcome more than 50 million visitors annually by 2030. Interactive content will allow visitors to explore the scheme in more detail.

Jerry Inzerillo, group CEO of Diriyah Company, said: 鈥淲e are thrilled to launch the Diriyah Experience House in the heart of London. Through this global platform, our team will share the story of Diriyah in a way that reflects its stature on the world stage 鈥 supporting our international outreach as we build one of the world鈥檚 most iconic destinations rooted in the Kingdom鈥檚 deep history and rich cultural heritage.鈥

The pavilion is set to have its official opening in early July, in collaboration with Sotheby鈥檚 International Realty, which will operate the venue.

It follows a successful month-long event held in London in July 2024, which highlighted the plans for Diriyah and was accompanied by an intensive promotional campaign across the British capital.

The efforts aim to elevate Diriyah鈥檚 global profile as the birthplace of 海角直播 and attract increased international interest in its investment potential.

Diriyah Art Futures also recently concluded 鈥淭he Light Footprint鈥 exhibition at Venice鈥檚 Querini Stampalia Foundation. Held in collaboration with Italian architecture firm Schiattarella Associati, it coincided with the opening of the Venice Biennale of Architecture 2025.

Curated by Marta Francocci, the exhibition explored the design and conceptual development of DAF鈥檚 innovative Riyadh headquarters, an architectural landmark inspired by Najdi tradition and sustainable design. It highlighted the fusion of cultural heritage with technological advancement through models, sketches, videos and archive materials.

Developed by the Saudi Museums Commission, DAF is envisioned as a global hub for art, science and education. 鈥淭he Light Footprint鈥 was also featured in the collective exhibition, 鈥淚ntelligens Naturale, Artificiale,鈥 curated by Carlo Ratti as part of the biennale鈥檚 official program.