SoumTech concludes the biggest online real estate auction in KSA with sales over half a billion Saudi Riyals

The partnership is in line with efforts to establish KAEC as a vision-ready destination alongside third-party investors and partners.

As part of the agreement, KAEC has sold 29,000 square meters of land to Vivienda for the construction of their exquisite resort. The newly planned resort will feature a 60-key boutique hotel, 20 luxury villas and 24 serviced apartments, designed to offer guests maximum privacy, comfort and impeccable service.

Situated on a stunning shoreline spanning 275 meters, the property will boast bespoke amenities and facilities, further enhancing the tourism landscape in the region.

Cyril Piaia, CEO of KAEC, expressed his enthusiasm about the collaboration, saying: “We are thrilled to welcome Vivienda to King Abdullah Economic City. This partnership aligns with our strategic vision to enhance the tourism sector and augment our existing assets. KAEC, situated by the pristine waters of the Red Sea, is a multi-faceted lifestyle residential community, tourist, entertainment and leisure destination catering to visitors and residents of all ages. Our strategy involves working with esteemed third-party operators like Vivienda to create exceptional experiences and further position KAEC as a global tourism hub.”

Dr Mohammed Al-Malik, CEO of Forus Real Estate, the parent company of Vivienda, said: “We are delighted to make KAEC the new home of our newest location. KAEC’s strategic location, advanced infrastructure and investor-friendly regulations make it an ideal platform for realizing our vision. We are confident that our luxury resort will provide an exceptional experience for our guests, incorporating the highest standards of privacy and comfort within the Kingdom’s captivating cultural ambience.”

The development of the Vivienda resort in KAEC not only expands the hospitality brand’s footprint but also contributes significantly to the goals outlined in Saudi Vision 2030 regarding the development of the hospitality and tourism sector. KAEC’s partnership with Vivienda aligns with this objective, poised to attract more visitors to experience the Kingdom’s rich cultural heritage.

The luxury resort in KAEC will feature a range of exceptional facilities, including restaurants, outdoor pools, recreational lounges, gyms and more. Additionally, guests can enjoy personalized services such as in-villa dining, chauffeurs, a dedicated butler service, and a concierge, ensuring a world-class luxury experience.

As a vision-ready platform, KAEC offers a comprehensive range of world-class facilities and services to accommodate various business operations, particularly with respect to the hospitality industry. With more than 40 kilometres of pristine coastline along the Red Sea, KAEC’s modern leisure and tourism district provides an attractive destination for both domestic and international visitors.