{"id":95259,"date":"2025-03-13T00:00:00","date_gmt":"2025-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/"},"modified":"2025-03-13T00:00:00","modified_gmt":"2025-03-13T00:00:00","slug":"diriyah-unveils-armani-residences-media-district-at-mipim-cannes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/13\/diriyah-unveils-armani-residences-media-district-at-mipim-cannes\/","title":{"rendered":"Diriyah unveils Armani Residences & Media District at MIPIM Cannes"},"content":{"rendered":"

\n

REAL ESTATE-<\/p>\n

Diriya<\/a><\/strong>h Compa<\/a><\/strong>ny<\/a><\/strong> launched its Media and Innovation District and Armani Residences <\/strong>during the MIPIM festival in Cannes<\/strong>, according to a press release<\/a>. Located near the Diriyah Arena, the 250k-sqm district is set to feature 450 residential homes, over 15k sqm of retail space, and a 325-room 1 Hotel Diriyah.<\/p>\n

AND- <\/strong>The Italian studio Armani \/ Casa will design the 15 limited-edition residences Armani Residences Diriyah and a 70-room Armani Hotel Diriyah, it said in a separate release<\/a>.<\/p>\n

IN CONTEXT- <\/strong>Diriyah is expanding its luxury residential portfolio with branded residences from Baccarat<\/a> and Ritz-Carlton<\/a> to provide housing options for 100k residents, attract 50 mn annual visitors, and contribute with USD 18.6 bn directly to Saudi Arabia\u2019s GDP.<\/p>\n

\n

LOGISTICS-<\/p>\n

RSGT d<\/strong>rops anchor in Djibouti: <\/strong>Port operator Red Sea Gateway Terminal (RSGT) inked an MoU to operate and manage Djibouti\u2019s Tadjourah Port for 30 years in a bid to optimize efficiency across port operations, according to a statement<\/a>. No investment ticket or timeline for the project was disclosed. <\/p>\n

Making moves in Djibouti:<\/strong> A consortium of Saudi investors inked a 92-year contract<\/a> in June to establish a 120k sqm Saudi Logistics City in Djibouti Port freezone \u2014 poised to become the Kingdom\u2019s largest foreign logistics zone. The project is set to position Djibouti\u2019s port as a gateway for Saudi exports to Africa.<\/p>\n

\n

FINANCIAL SERVICES-<\/p>\n

Etihad<\/a><\/strong><\/a><\/strong>Atheeb<\/a><\/strong>Telecommunication<\/a><\/strong> (<\/strong>Go Telecom<\/strong>) to establish Hulool Al Intilaq Finance<\/strong>, a micro-consumer financing subsidiary with an initial capital of SAR 20 mn, after obtaining a license from the Saudi Central Bank, it said in a disclosure to Tadawul<\/a>. The telecom company is currently in the process of meeting all licensing requirements, which need to be completed within six months from the initial approval, before applying for a full license.<\/p>\n

\n

INFRASTRUCTURE -<\/p>\n

SEPC <\/strong>+ Roshn sign agreement for infrastructure work in Jeddah:<\/strong> India-based construction engineering company SEPC signed a framework agreement with Roshn Group to carry out infrastructure work in three zones of Jeddah North, Phase 1A for a combined amount of SAR 893 mn, according to a filing (pdf)<\/a> to the Indian exchange. SEPC is expected to receive orders for at least one of the three zones they've bid for. No further details were provided.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: stc enhances 5G security with Juniper Networks<\/p>\n","protected":false},"author":1,"featured_media":95260,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[54,233,10,1255,4098,3752,496,2299,1975,4097],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-diriyah","tag-enterpriseam-ksa","tag-etihad-atheeb-telecommunications-go","tag-idemia","tag-red-sea-gateway-terminal-rsgt","tag-roshn-group","tag-saudi-telecom-company-stc","tag-saudi-egypt-relations","tag-tahakom","wpautop","entry"],"acf":{"mongo_id":"a9b71c40-71f1-4941-bc75-dde98b661552","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2388.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Diriyah unveils Armani Residences & Media District at MIPIM Cannes","related_issue":[95241],"teaser":"PLUS: stc enhances 5G security with Juniper Networks","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.4bddc7e1-a46a-4bd6-9317-7031930c2c79.mp3"},"yoast_head":"\nDiriyah unveils Armani Residences & Media District at MIPIM Cannes - 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