Al Akaria Saudi Real Estate Company, one of the largest publicly listed real estate developers on the Saudi stock exchange (Tadawul), announced its initial collaboration with Arabian Dream KSA to develop the world’s largest mixed-use entertainment and shopping centre development of its kind at Akaria’s Al Widyan site in Riyadh.
Arabian Dream KSA is principally owned by Triple Five Worldwide, owner and developer of the three biggest retail and entertainment centres in North America – Mall of America, American Dream and West Edmonton Mall.
Estimated at $5 billion to develop, this new destination will comprise theme parks, water parks, recreational and sports facilities, retail dining, shopping centres and hospitality components, coupled with the latest artificial intelligence (AI) technology to create a truly different visiting experience for all its visitors when it is completed. This is in line with the Saudi Arabia Vision 2030, which aims at creating partnerships between local and international players to bring best-in-class partners in the world to the Kingdom.
The development is located within the Al Widyan masterplan, which is 100% owned and being developed by Al Akaria. Spread over 75 million sqft, the Al Widyan masterplan is being designed and developed as a fully-integrated mixed-use development and leisure destination based on the principles of wellness and quality of life and incorporating a blend of carefully planned lifestyle, commercial and entertainment districts and clusters. First phase launch of the Al Widyan project is targeted to take place in the first half of 2020.
“We are very proud to partner with Arabian Dream and Triple Five on the development of a mega leisure and entertainment destination at our Al Widyan project site. With the proven track record of Triple Five in developing such projects and creating new experiences for its visitors, we are confident that once completed, it will become a new destination for residents of Riyadh and visitors to Saudi Arabia. Through this project, we are also proud to play an active role in contributing towards Saudi Arabia’s Vision 2030,” said Aiman Mudaifer, chairman of Saudi Real Estate Company.
“Al Widyan is the largest project in our portfolio. This collaboration with Arabian Dream aims to bring a unique leisure and entertainment experience to its residents, visitors and tourists. This project is a testament of Al Akaria’s ambition to deliver world-class developments,” added Kelvin Kwok, CEO of Saudi Real Estate Company.
“Arabian Dream will have components of their other successful tourist destinations, but in this global destination, guests will experience them all in a safe indoor environment all combined in one place under one roof,” concluded Jason Lucas, vice president of Triple Five and CEO of Arabian Dream.
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
The jewellery making industry has been under tremendous scrutiny over the yearsFebruary 11, 2021 | By Shruthi Nair
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
Carrefour has announced that it is expanding its robotic fleet, adding 11
Marking the 200th hypermarket opening in Cairo, Egypt, LuLu is celebrating the
Emerging technologies and IT integration in businesses have been taking place for
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
British fast-fashion retailer Primark says it has no plans to sell its
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association
Retail Abu Dhabi, the retail platform of the Department of Culture and
Gulf Marketing Group (GMG) is gearing up for a continued surge in