海角直播

Jeddah by jet ski: How the Red Sea is powering 海角直播鈥檚 new tourism economy

Jeddah by jet ski: How the Red Sea is powering 海角直播鈥檚 new tourism economy
Jeddah鈥檚 marine luxury growth stems from Vision 2030, which drives tourism, economic diversification, and quality of life, with the coastline showcasing these efforts. (AN File photo/Supplied)
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Updated 20 July 2025

Jeddah by jet ski: How the Red Sea is powering 海角直播鈥檚 new tourism economy

Jeddah by jet ski: How the Red Sea is powering 海角直播鈥檚 new tourism economy
  • Jeddah鈥檚 Red Sea coast has transformed into a lively center for marine leisure and luxury tourism

RIYADH: Once a trading port and gateway to holy cities, Jeddah鈥檚 Red Sea coast has transformed into a lively center for marine leisure, luxury tourism, and major yachting and water sports events.

This shift shows 海角直播鈥檚 Vision 2030 diversification plan in action, with private enterprise working alongside government-led reforms to help deliver new economic developments.

In 2024, Jeddah鈥檚 Red Sea tourism figures were robust, with the Jeddah Season attracting over 1.7 million visitors in 52 days, according to the Saudi Press Agency.

This came as the Kingdom as a whole saw a record 30 million inbound tourists in 2024, an 8 percent increase from 2023, with a total inbound tourism spending of SR168.5 billion ($44 million), up 19 percent year on year, according to the Ministry of Tourism.

How the Red Sea coastline in Jeddah changed into a key hub for marine leisure activities听

Developments on hand are part of a larger coastal regeneration plan aimed at establishing Jeddah as a key gateway between the Red Sea and global destinations.

According to Samir Imran, partner at Arthur D. Little Middle East, the Red Sea Global resort is expanding its eco-development along the Red Sea coast, focusing on regenerative tourism, coral reef preservation, and high-end hospitality, noting that resorts like Sheybarah, Six Senses, and Desert Rock are already open, with more set to launch soon.




Samir Imran, partner at Arthur D. Little Middle East. (Supplied)听

鈥淢odern Waterfront & Marinas: Jeddah鈥檚 4.2 km Corniche Waterfront was completely redeveloped and opened, providing parks, beaches, promenades and recreational facilities. Now named the Roshn Waterfront, this seaside promenade attracts over 55 million visitors each year who come to exercise and enjoy Red Sea views,鈥 Imran said.

He explained that the Jeddah Yacht Club & Marina, which opened in 2022, is 海角直播鈥檚 first luxury tourist marina, offering 101 deep-water berths, superyacht services, and positioning Jeddah as a key hub for the Kingdom鈥檚 growing tourism sector.

Similarly, PwC Middle East Partner and Global Tourism Industry Lead, Nicolas Mayer, elaborated on how Jeddah鈥檚 Red Sea coast has become a top tourism destination, offering a mix of heritage, culture, and marine leisure that appeals to today鈥檚 experience-driven travelers.

鈥淭here鈥檚 also been rapid growth in nature-based activities. Snorkeling, fishing trips, and coral reef tours now feature alongside kayaking, bird watching, and excursions into the coastal wetlands. These options open the door to everything from a morning adventure to a multi-day itinerary,鈥 Mayer said.

鈥淲hat makes Jeddah special is how well all of this comes together. You can start your day in a historic district and end it on a jet ski or dining seaside. For many visitors, this mix of experiences is what makes Jeddah feel like a real destination, not just a single attraction,鈥 he added.

How the Saudi Vision 2030 is influencing the coastal renaissance in Jeddah

Jeddah鈥檚 marine luxury growth stems from the Kingdom鈥檚 Vision 2030, which drives tourism, economic diversification, and quality of life, with the coastline showcasing these efforts.

From Arthur D. Little鈥檚 side, Imran explained that 海角直播 has introduced major regulatory reforms to boost marine tourism, including tourist e-visas, lifting the ban on foreign-flagged yachts, and establishing the Red Sea Authority to issue licenses and oversee the sector鈥檚 growth.

鈥淏y establishing defined entry points with customs facilities and streamlining yacht permit procedures, the Kingdom eliminated longstanding barriers, making it more accessible and connected to the global community,鈥 he said.

The partner went on to say that under Vision 2030, the nation has heavily invested in the area鈥檚 tourism infrastructure, including the Jeddah Central Project, backed by the Public Investment Fund, which is expected to feature a new waterfront, marina, beaches, and cultural landmarks by 2027.

At the same time, the government is encouraging private-sector participation through regulatory reforms and incentives, leading to partnerships like Cruise Saudi and MSC Cruises, all aimed at transforming Jeddah into a global marine tourism hub.

He added that the area鈥檚 coastal transformation is fueling 海角直播鈥檚 tourism boom. As marine attractions grow, so does local spending and job creation, with Red Sea tourism expected to add SR85 billion to gross domestic product and create 210,000 jobs by 2030.

鈥淚n Jeddah, one can already see the impact in the hospitality sector: dozens of new restaurants, cafes, and boutique hotels have sprung up along the revitalized Corniche, employing Saudi youth and diversifying the local economy,鈥 Imran said.

He concluded by saying that marine sports in Jeddah are boosting local talent, with over 1,000 Saudis trained in 2024 for roles like dive instructors and marina managers. Vision 2030 has also enabled women to join the sector, competing in sailing and powerboat racing. These efforts are creating a cycle of stronger infrastructure, workforce inclusion, and rising tourism.

Additionally, Vision 2030 has driven Jeddah鈥檚 shift from standalone projects to integrated coastal destinations, fostering long-term tourism growth and job creation.

鈥淚n Jeddah, we鈥檙e seeing a sharp rise in new job categories tied to the marine economy. Tour operators, diving instructors, marina staff, fishing guides, and jet ski rental businesses are expanding fast. Yacht chartering and high-end marine hospitality are growing too,鈥 PwC鈥檚 Mayer said.




Nicolas Mayer, partner at PwC Middle East. (Supplied)

He continued to stress that upscale waterfront dining is boosting demand for a wide range of hospitality roles, supported by local training programs.

Meanwhile, the 鈥淯mrah Plus鈥 trend is encouraging religious visitors to extend their stays for cultural and leisure experiences, creating new jobs and aligning with Vision 2030鈥檚 goals of economic diversification and investment in people.

The future development of Jeddah鈥檚 marine

Arthur D. Little鈥檚 Imran noted that Jeddah鈥檚 Red Sea coast is set to strengthen its position as a marine luxury hub, combining heritage with modern coastal appeal. With strong infrastructure already in place, experts are optimistic about continued rapid growth.

鈥淭he Al-Arbaeen Lagoon revival, with its new yacht marina and 4.4鈥痥m park, is actively under construction in 2025. These will add capacity for more boats and more visitors. Cruise tourism is also ramping up, Jeddah鈥檚 port is now a home base for Red Sea cruises, introducing yet another stream of maritime tourists exploring the coast,鈥 he said.

鈥淲e can expect tourist volumes in Jeddah to keep climbing as air connectivity improves and as word spreads about its Red Sea treasures,鈥 the ADL partner added.

Private and global investors are playing a bigger role in Jeddah鈥檚 tourism growth, aiming to serve 19 million coastal visitors by 2030, many from the region, Imran clarified.

He noted that experts view Jeddah鈥檚 Red Sea location as ideal for year-round yachting, positioning it as a strong alternative to winter destinations such as the Caribbean or Dubai.

From PwC鈥檚 perspective, Mayer justified that the Red Sea Authority will ensure future growth stays sustainable and coordinated, while the city鈥檚 active private sector helps drive innovation and preserve its unique character.

鈥淲e鈥檒l likely see growth in multi-day yacht itineraries that link Jeddah to quieter parts of the coast. Cruise tourism might also become a bigger part of the mix, especially as infrastructure improves. Water taxis, floating hotels, and digitally enhanced marine experiences, like virtual dive guides, could help the city appeal to younger travelers and tech-savvy tourists,鈥 Mayer said.

He added: 鈥淛eddah also benefits from its position as both a cultural capital and a transit hub for religious tourism. That makes it a natural gateway. Travelers might start their trip with Umrah or a visit to Al-Balad and then head to the coast for a few days of nature and leisure.鈥


Closing Bell: Saudi main market ends lower at 10,670听

Closing Bell: Saudi main market ends lower at 10,670听
Updated 01 September 2025

Closing Bell: Saudi main market ends lower at 10,670听

Closing Bell: Saudi main market ends lower at 10,670听

RIYADH: 海角直播鈥檚 Tadawul All Share Index closed lower on Monday, slipping 26.33 points, or 0.25 percent, to end at 10,670.56.

The total trading turnover reached SR3.87 billion ($1.03 billion), with 208.26 million shares changing hands, as 61 stocks advanced while 186 declined.

The MSCI Tadawul 30 Index edged down 0.56 points, or 0.04 percent, to 1,381.50.

The Kingdom鈥檚 parallel market Nomu also fell, losing 9.80 points, or 0.04 percent, to settle at 25,933.23, with 36 gainers against 45 losers.

Among the top performers, Electrical Industries Co. rose 4.02 percent to SR9.31, followed by Etihad Atheeb Telecommunication Co., which gained 3.74 percent to SR111. SABIC Agri-Nutrients Co. added 3.14 percent to close at SR118.40, while Al Masane Al Kobra Mining Co. increased 2.94 percent to SR63.10. Saudi Industrial Investment Group also climbed 2.89 percent to SR19.60.

On the losing side, Rabigh Refining and Petrochemical Co. dropped 5.71 percent to SR6.61, while Arab National Bank slipped 4.58 percent to SR23.10. Development Works Food Co. retreated 4.35 percent to SR118.60, Qassim Cement Co. fell 3.30 percent to SR41.64, and AYYAN Investment Co. declined 3.15 percent to SR11.69.

In corporate announcements, Red Sea International Co. reported the results of its ordinary general assembly meeting held on Aug. 31, 2025. Shareholders approved a major transaction involving its subsidiary, the Fundamental Installation for Electric Work Co., in which Red Sea holds a 51 percent stake.

The deal includes offering 12 million ordinary shares of the subsidiary 鈥 equivalent to 30 percent of its share capital 鈥 through an initial public offering on the Saudi Exchange. Red Sea will retain its 51 percent holding. 

Shares of Red Sea closed 2.84 percent lower at SR43.80.

Separately, the Saudi Exchange confirmed the listing and trading of Marketing Home Group for Trading Co. on the main market effective Sept. 2, 2025. The company鈥檚 shares will have daily price fluctuation limits of 30 percent and static limits of 10 percent during the first three days, reverting to 10 percent thereafter.

Obeikan Glass Co. announced it had signed a sale and purchase agreement to acquire all shareholder stakes in Obeikan AGC Co., a joint venture in which it previously held 19 percent. The SR22.9 million deal covers shares held by AGC France Holding, Obeikan Investment Group, and Saudi Advanced Industries Co. Following the acquisition, Obeikan Glass will assume full ownership of Obeikan AGC. 

Its shares ended the session down 0.57 percent at SR28.10.

Meanwhile, Jamjoom Fashion Trading Co., the Saudi apparel and lifestyle group behind brands Nayomi and Mihyar, announced the price range and launch of its initial public offering on Nomu.

The IPO price range has been set between SR140 and SR145 per share, valuing the offering at SR334 million to SR346 million and giving the company a market capitalization at listing of SR1.11 billion to SR1.15 billion.

The offering comprises 2,384,340 shares, or 30 percent of the company鈥檚 capital, owned by Kamal Osman Jamjoom Trading Co. The subscription period for qualified investors runs from Sept. 1 to 4, with allocation expected by Sept. 9 and refunds by Sept. 11.


海角直播鈥檚 lifestyle retail space to top 1.3m sq. meters by 2027: Knight Frank

海角直播鈥檚 lifestyle retail space to top 1.3m sq. meters by 2027: Knight Frank
Updated 01 September 2025

海角直播鈥檚 lifestyle retail space to top 1.3m sq. meters by 2027: Knight Frank

海角直播鈥檚 lifestyle retail space to top 1.3m sq. meters by 2027: Knight Frank
  • Consumer preferences are shifting from traditional malls to mixed-use destinations
  • Lifestyle retail space in Riyadh projected to grow to 871,200 sq. meters by 2027

RIYADH: 海角直播 is set to see lifestyle retail space in Riyadh and Jeddah expand by almost 600,000 sq. meters to 1.31 million sq. meters by 2027, reinforcing its global shopping destination ambitions. 

A new report by real estate consultancy Knight Frank showed that consumer preferences are shifting from traditional malls to mixed-use destinations blending shopping with entertainment, dining, and cultural experiences. 

The expansion coincides with the Kingdom鈥檚 plan to attract 150 million tourists annually by 2030, up from an earlier target of 100 million, spurring international brands to enter the market. 

The Real Estate General Authority projects the sector will reach $101.62 billion by 2029, supported by a compound annual growth rate of 8 percent from 2024. 

鈥淚n response to this shifting consumer behavior, lifestyle retail destinations have emerged as a much more popular choice,鈥 said Faisal Durrani, partner 鈥 head of research for Middle East and Africa at Knight Frank. 
 
鈥淭hese locations offer a combination of exciting retail, placemaking and immersive experiences that attract visitors not only for shopping but for socializing, entertainment and events,鈥 he added.
 
With dining, outdoor spaces, art installations and interactive exhibits, Durrani said lifestyle destinations have evolved beyond malls into 鈥渧ibrant community hubs.鈥 

In July, credit rating agency S&P Global echoed similar views, saying that international retail brands attracted by 海角直播鈥檚 social and economic shifts are set to fuel real estate sector growth. 

S&P added that the Kingdom鈥檚 retail real estate sector has strong prospects, provided careful planning and market positioning are applied, helping mall owners secure long-term success. 

Riyadh leads the way 

Knight Frank said lifestyle retail space in Riyadh is projected to grow from 484,900 sq. meters to 871,200 sq. meters by 2027, driven by 12 upcoming projects, raising the total number of developments in the city to 39. 

The completion of the Al-Hamra development will add 89,230 sq. meters, offering a mix of high-end retail, dining and entertainment in a pedestrian-friendly environment. 

Riyamarche will provide a further 21,840 sq. meters, while The Bellvue project, widely touted as Riyadh鈥檚 largest master-planned mixed-use project, will add 90,000 sq. meters by 2027. 

The report said Riyadh鈥檚 lifestyle retail market demonstrates robust fundamentals, with overall occupancy at 97 percent and food and beverage units averaging 76 percent. 

Average lease rates currently stand at SR2,400 ($639.57) per sq. meter, underscoring strong demand for quality retail space in the capital. 

鈥淭he lifestyle retail scene in 海角直播 continues to expand, boosted by overall consumer spending, which has increased by 7 percent year-on-year to SR1.4 trillion,鈥 said Jonathan Pagett, partner 鈥 head of retail advisory, MENA at Knight Frank. 
 
鈥淩iyadh is at the forefront of this retail resurgence, with all of the city鈥檚 flagship lifestyle developments at 100 percent occupancy or very close to it,鈥 he added. 

Pagett said this robust growth is expected to continue, as 海角直播 attracts leading global brands and taps the spending power of both tourists and residents. 

鈥淗owever, competition is fierce across the Kingdom, with a strong pipeline of projects in Riyadh, Jeddah and Al-Khobar. Creating unique retail offers with new-to-market concepts is critical to maintain strong performance and high retail sales densities,鈥 added Pagget. 

S&P Global has also raised concerns that oversupply, particularly in shopping malls, could weigh on the sector. 

Knight Frank underscored the importance of food and beverage in driving growth, pointing to the Dior Cafe pop-up in Riyadh and Ralph鈥檚 Coffee in King Abdullah Financial District as milestones in the Kingdom鈥檚 luxury retail and dining market. 

鈥淲ith the luxury retail and hospitality sectors flourishing, the Kingdom is fast becoming a key location for global brands seeking to establish a footprint in the Middle East. The combination of iconic retail outlets, high-end dining, and experiential venues puts 海角直播 firmly on the map as a leader in lifestyle retail,鈥 said Konstantinos Papadakis, associate partner 鈥 F&B consultancy, MENA at Knight Frank. 

Papadakis added that the arrival of luxury-branded cafes aligns with Vision 2030, which aims to position 海角直播 as a global tourist destination by the end of the decade. 

Jeddah鈥檚 rising market 

Jeddah added 24,100 sq. meters to its lifestyle retail market last year, increasing total completed space to 233,400 sq. meters across 17 developments. 

A further 205,600 sq. meters are expected to be delivered by seven new projects, bringing the total supply to 439,000 sq. meters by 2027. 

Knight Frank further projected that Jeddah Cove Waterfront, due for completion by 2027, will contribute 70,000 sq. meters as part of a larger 127,000 sq. meters lifestyle destination featuring dining, more than 200 shops, a cinema and a marina overlooking the Formula 1 circuit. 

鈥淲ith its enviable position on the Red Sea, Jeddah is a rising luxury and leisure hub that is ideally positioned to meet growing demand for lifestyle destinations and to attract international visitors,鈥 said Amar Hussain, associate partner 鈥 research, MENA at Knight Frank. 

Hussain added that Jeddah鈥檚 lifestyle retail sector enjoys a strong average lease rate of SR2,200 per sq. meter and overall occupancy stands at 81 percent, with F&B units averaging 75 percent occupancy. 

鈥淢irroring global trends, Jeddah鈥檚 consumers are demanding environments that offer experiential retail, integrating shopping with entertainment and dining. This shift is driving the development of lifestyle retail centers focused on offering leisure opportunities, predominantly through new and unique F&B concepts,鈥 said Papadakis. 


海角直播 surpasses 2025 homeownership target a year early听

海角直播 surpasses 2025 homeownership target a year early听
Updated 01 September 2025

海角直播 surpasses 2025 homeownership target a year early听

海角直播 surpasses 2025 homeownership target a year early听

JEDDAH: 海角直播 surpassed its 2025 homeownership target a year early, with 65.4 percent of families owning homes in 2024, an official report showed. 

According to the Housing Program鈥檚 2024 annual report, the Kingdom had aimed for 65 percent by 2025, meaning it has already achieved 102 percent of the goal. The report, titled Facilitating the Journey to Homeownership and Sustainability, noted that the Kingdom now aims to raise the rate to 70 percent by 2030. 

Since 2016, the homeownership rate has risen from 47 percent, reflecting the effectiveness of the Housing Program in supporting Vision 2030 objectives.  

鈥淭oday, we live under an ambitious Vision that places the individual at the heart of its objectives. In pursuit of a dignified life for all, efforts and plans are in place to empower and build a vibrant society where people live in safety and stability,鈥 the report quoted Minister of Municipalities and Housing Majed Al-Hogail.

In a post on his X handle, Al-Hogail added: 鈥淲e are advancing with firm determination to continue achieving milestones within the Housing Program, in line with Saudi Vision 2030, supporting sustainable urban development and enhancing the quality of life for every Saudi family.鈥 

The minister emphasized that the program鈥檚 success is attributed to the provision of accessible financing solutions, innovative housing options, and the development of urban communities. The program also focuses on leveraging modern digital technologies to offer a flexible and efficient journey toward finding suitable housing that meets citizens鈥 aspirations and needs. 

In 2024, over 122,000 families benefited from housing support, with more than 21,000 eligible families achieving homeownership through developmental housing pathways. 

Additionally, the year saw the signing of over 13,000 contracts for land products offered by the Ministry of Municipalities and Housing, approximately 16,000 contracts for self-construction, over 49,000 contracts for ready-made units, and more than 27,000 off-plan sales contracts. 

The report also noted a rise in the total mortgage value from SR818 billion ($218 billion) to over SR859 billion, indicating increased efficiency in the housing market. 

Furthermore, affordability metrics improved, with the percentage of household income spent on housing decreasing from 41 percent to 40.2 percent. As a result, citizen satisfaction increased from 80 percent in 2023 to 89 percent in 2024. 


Egypt offers over 1,300 industrial plots to boost economic development听

Egypt offers over 1,300 industrial plots to boost economic development听
Updated 01 September 2025

Egypt offers over 1,300 industrial plots to boost economic development听

Egypt offers over 1,300 industrial plots to boost economic development听

RIYADH: Egypt has announced offering 1,386 fully serviced industrial plots across 23 governorates and 35 industrial zones, totaling 6.8 million sq. meters, in a bid to accelerate industrial development and attract local and foreign investment. 
The offering, part of the government鈥檚 11th industrial land tender, will be conducted via the country鈥檚 digital platform from Sept. 1-11, the Ministry of Industry and Transport said in an official Facebook post. 
Plot sizes range from 240 sq. meters to 500,000 sq. meters and cover sectors including food, pharmaceuticals, and chemicals, as well as engineering, medical supplies, building materials, and textiles. 
The initiative underscores the state鈥檚 commitment to local production and sustainable industrial growth, coinciding with rising confidence in the Egyptian pound, with Standard Chartered noting in August that at least half of $12.5 billion in investment pledges from Qatar and Kuwait is expected to be disbursed by the end of 2025. 
鈥淭he tender is designed to provide flexible options for investors,鈥 Kamel El-Wazir, deputy prime minister for industrial development and minister of industry and transport, said in the Facebook post. 鈥淲e continue to create an attractive and transparent environment to support sustainable industrial growth across Egypt.鈥 
He highlighted the diversity of plot sizes to suit projects of all scales 鈥 small, medium, and large 鈥 ranging from 240 sq. meters to 500,000 sq. meters. 
The plots are offered at the actual cost of utilities to facilitate investor access and reduce financial burdens. Annual usufruct fees are set at 5 percent of the ownership price per sq. meter. 
Investors may apply for two opportunities, one as a primary choice and another as an alternative, providing flexibility and broader access. Allocation priority will go to applicants who previously submitted valid proposals but were unsuccessful and did not reclaim their deposits. 
El-Wazir noted that the offering is supported by unprecedented incentives from previous rounds, including a 50 percent discount on application study fees, removal of bid and financial guarantee charges, a reduced deposit of 10 percent of land value, and a simplified feasibility study form, all designed to encourage broader investor participation. 
Following application submission, the Industrial Development Authority will evaluate all entries and announce results within two weeks of the tender鈥檚 closing date.


Turkiye economy grew 4.8% in Q2, above expectations

Turkiye economy grew 4.8% in Q2, above expectations
Updated 01 September 2025

Turkiye economy grew 4.8% in Q2, above expectations

Turkiye economy grew 4.8% in Q2, above expectations

ISTANBUL: Turkiye鈥檚 economy grew by 4.8 percent in the second quarter, above expectations despite a prolonged monetary tightening effort, official data showed on Monday.

Second-quarter gross domestic product grew 1.6 percent from the previous quarter on a seasonally and calendar-adjusted basis, data from the Turkish Statistical Institute showed.

Economists said the quarter had benefited from having more working days than in the same period the year before, and from last year鈥檚 low base.

In a Reuters poll, the economy was forecast to have grown by 4.1 percent in the second quarter and by 2.9 percent for 2025 as a whole.

The government forecasts 4 percent growth this year. It is expected to update its forecasts early this month.

Growth in the first quarter was revised up to 2.3 percent from 2 percent, the data also showed, while economic expansion was revised up slightly to 3.3 percent from the previous 3.2 percent last year.

The institute also published a document along with the data detailing the revision of its Gross Domestic Product series as part of efforts to align with the European System of National Accounts.

In December, the central bank started an easing cycle after having kept the main policy rate steady for eight months. Inflation has dipped from as high as 75 percent last year.

The central bank tightened policy in April in a move to ensure stability following market turmoil that erupted over the arrest of Istanbul Mayor Ekrem Imamoglu, President Tayyip Erdogan鈥檚 main political rival.

The bank recently returned to policy easing last month, with inflation falling to around 33 percent and said the impact of tight policy can be seen in a slowdown in demand conditions.