Saudi Red Sea Authority has signed two Memorandums of Understanding (MoU) with Prince Albert II of Monaco Foundation (Foundation Prince Albert II de Monaco) and Monaco Yacht Club (Yacht Club de Monaco), aiming to establish maritime cooperation and develop coastal tourism in the Red Sea. The Memorandums of Understanding were signed on this week at the Monaco Yacht Club headquarters. Representing the parties were His Excellency the Acting CEO of Saudi Red Sea Authority Mohammed Al-Asiri, Olivier Wenden of the Prince Albert II of Monaco Foundation, and Bernard D’Alessandri of Monaco Yacht Club.

Kerten Hospitality will enter its House Residence brand in OXAGON, home to advanced and clean industries in Saudi Arabia’s NEOM development.  This move will further Kerten Hospitality’s ambitious expansion across Saudi Arabia. The upscale 200-unit serviced apartments, at the heart of OXAGON’s first residential community, is set to open its doors in 2025.  Reimagining the traditional industrial city, OXAGON is creating a new paradigm for urban living. Offices, world-class recreational and sports facilities, next-generation mobility solutions, and unique hospitality and retail concepts are all seamlessly integrated within communities, in harmony with nature.

NEOM has appointed Greek contractor Archirodon to carry out the early infrastructure works on Shusha Island. The contract award is part of a framework for constructing infrastructure for 12 islands at NEOM.  Located off the coast of the Red Sea, Shusha Island will include the world’s largest coral garden, a marina, hotels, villas, a beach club, a museum and a research centre.  The coral garden is the project’s main attraction and is scheduled to be completed by 2025.

A new look behind the process and select architects involved in Saudi Arabia’s controversial THE LINE megacity for NEOM has been released, answering some questions as to its ideation while leaving many remaining in regard to the project's structural engineering, technical specifics, and design feasibility overall.

IHG Hotels & Resorts has signed a franchise agreement that will see a Hotel Indigo property open in OXAGON, a coastal industrial city in NEOM, located in the Northwest region of Saudi Arabia.

In OXAGON, thriving communities will exist seamlessly alongside clean industry, commercial, hospitality, entertainment and retail activities. The 250-key Hotel Indigo property will be situated in OXAGON’s first residential community and will open its doors in 2026. Designed to seamlessly integrate work, live, and play, OXAGON’s neighborhoods will be fully walkable, with sustainable on-demand mass transit and micro mobility solutions.

Saudi-based Integrated Telecom Company (Salam) has signed a deal with Khazzan Information Technology (Edgnex Data Centres by Damac) that designs, builds and operates data centers across the kingdom, along with Cinturion Corp, a global provider of integrated submarine and terrestrial capacity-based network solutions and Emaar, The Economic City (EEC) – the master developer of King Abdullah Economic City (KAEC) – to explore opportunities in the field of telecom and digital infrastructure.