Market Dynamics: The Surge in Rental Demand Across Saudi Arabia | Kanebridge News
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Market Dynamics: The Surge in Rental Demand Across Saudi Arabia

The Saudi Arabian real estate sector is expected to achieve a significant increase in rental demand, fueled by the upcoming major events and the arrival of international executives.

Tue, Feb 13, 2024 3:29pmGrey Clock < 1 min

Riyadh is becoming an attractive hub for startup establishment and expansion, leading to a noticeable boost in rental needs. Anticipated events on both the global and regional scale, as well as the establishment of new companies and creation of regional offices by multinational firms, are expected to significantly boost rental demand in key cities like Riyadh and Jeddah, according to experts in the field.

Riyadh’s growing appeal as a destination for startup development is contributing to this increase in rental demand. And events such as Step Saudi, a premier tech and startup festival, and LEAP, the largest global tech and entrepreneur conference, highlight the Kingdom’s increasing role in the global events scene, and further stimulate the rental market.

Property management executives emphasize Riyadh’s potential for market growth, given its population size compared with the other GCC cities like Doha. And while some consider expansion into Bahrain, Egypt, and Oman, Riyadh currently stands out as the prime location for real estate investment due to its rapid development and growth rate.

This trend is reinforced by the policies and financial encouragements of the Saudi government, aimed at attracting foreign investors.



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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