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Reportage Properties in Saudi Arabia and Egypt CEO, Mr. Eslam Hammam, expected the company’s sales to exceed SAR 500 million by the end of 2025. Hammam confirmed that this strong performance reflects the company’s commitment to a sustainable development approach over the past years, based on delivering high-quality residential projects that meet the needs of the growing Saudi market. The CEO noted that the clients and investors trust in the company, particularly in Riyadh, has been a pivotal factor in achieving this growth, noting the company's commitment to providing modern real estate products based on clear standards of quality and urban planning. Hammam confirmed that Reportage Saudi Arabia is preparing to enter a strategic expansion phase in 2026. He said that the.
The Royal Commission for Makkah City has announced that work has started on 10 five-storey residential buildings being developed as part of The Kidana Al Wadi project over a 33,000 sq m area near the Jamarat facility, strategically positioned for accommodation in Mina. The project, which is being developed in co-ordination with Kidana Development Company, focuses on improving guest services, enhancing the urban landscape and facilitating movement within the site. Located near the Jamarat facility, the project is part of the urban development projects for the holy sites, whose goal is to increase the accommodation capacity with modern architectural design and improved services, for pilgrims' comfort. The Kidana Al Wadi project focuses on improving guest.
National Building and Marketing Company inked, on 4 June 2024, a SAR 350 million agreement with Al Fayzia Real Estate Development Company. The two entities will team up to develop villas and residential apartments (Granada Riyadh Project), according to a bourse statement. The three-year deal will cover the infrastructure and superstructure works, construction, finish, and building materials for the development project. Meanwhile, the residential units will be established with specifications that do not conflict with those of the Saudi Building Code and the Ministry of Housing. National Building highlighted that the project will reflect on its business results during the second half (H2) of 2024 and the coming years during the project completion.
Retail rents in Dubai and Abu Dhabi have jumped in double digits in recent months on the back of strong demand and limited availability of quality stock. During the first quarter of the year, rents in the UAE capital rose by 14.7% and in Dubai by 10.5%, according to CBRE Middle East. Part of the demand is coming from several foreign retail brands looking to enter the local market, particularly Dubai, the real estate services firm noted. There is also a significant demand from the food and beverage sector. “The supply-and-demand imbalance in both Abu Dhabi and Dubai continues to drive rental performance,” CBRE said. “We are seeing an increase in the number of global and international retail brands looking to establish or.