AB Espresso: Saudi Arabia ’s Red Sea Residences draw early buyers

Hello reader,

In today’s newsletter:

Discover the latest stories from Arabian Business, in case you missed them on Monday:

Red Sea Global has pre-sold over 12% of its ultra-luxury homes on Saudi Arabia’s Shura Island ahead of the official market launch. With prices starting at SAR5.5 million ($1.47 million) for a one-bedroom unit, the developer is targeting high-net-worth buyers from Saudi Arabia and neighbouring Gulf countries, highlighting strong demand for premium coastal real estate.

In other news, Saudi Arabia’s ambassador to the UK, Prince Khalid bin Bandar Al Saud, has reiterated that there is still “plenty of fun” for those who visit the kingdom during the 2034 World Cup to enjoy even without the presence of alcohol. “Rather like our weather, it’s a dry country,” Prince Khalid said.

Aside from this, Saudi Arabia’s inflation rate increased slightly to 2 percent in January 2025, up from 1.9 percent in the previous month, according to the General Authority for Statistics (GASTAT). The rise was mainly driven by an 8 percent increase in housing, water, electricity, gas, and fuel prices.

Meanwhile, the Dubai International Financial Centre (DIFC) Courts reported a total claim value of AED 7.6 billion ($2.07 billion) in 2024 across 114 cases in the Court of First Instance. The Arbitration Division saw the highest case values, averaging AED 356.1 million ($96.96 million) per case, reflecting DIFC’s growing role as a preferred jurisdiction for high-value disputes.

On the travel front, Air Arabia has rolled out its Super Seat Sale, offering 500,000 discounted seats across its network. Fares start at AED129, with the sale running until March 2. Travel dates are valid from September 1, 2025, to March 28, 2026.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

Dubai International Financial Centre and Business Bay areas expected to see up to a 20% rise in rentals this year upon renewals in Grade A and B buildings

Was this newsletter forwarded to you? Subscribe now.

For editorial queries, please contact:

abnews@itp.com

For advertising enquiries, please contact:
absales@itp.com

© 2024 ITP Digital Media Inc. All rights reserved.

Terms Policy

Email Information

You have received this email message from ITP Media Group, the leading media company in the Middle East. Your email address - newsletter@newslettercollector.com - has been recorded because you have subscribed to our newsletter through one of our market-leading websites, to one of our market leading print publications and newsletters or are registered with one of our websites. For more information, visit www.itp.com.

Remove your email address from this mailing list ONLY(Please note, this will not affect any other newsletter subscriptions)

Removal requests may take up to 48 hours to process; you may receive additional mailings during that time. A confirmation email will be sent when your request has been successfully processed.

Is this email in your junk/bulk folder?
To ensure that you receive all future newsletters and emails from us, add newsletters@arabianbusiness.com to your address book.

ITP Media Group, PO Box 500024, UAE