Saudi Arabia: Royal Amwaj Resort unveiled
Rikaz for Development & Planning L.L.C. (“Rikaz”), the leading Saudi Arabian real estate company unveiled Royal Amwaj Resort on Half Moon Bay in the Eastern Province of the Kingdom of Saudi Arabia at a gala dinner at the Four Seasons Hotel, attended by more than 1000 invitees of the kingdom’s affluent community.
The Royal Amwaj Resort is one of a new generation of mixed-use communities planned by Rikaz as part of its real estate development programme, which is expected to set a new precedent for large-scale urban and touristic developments in the Kingdom.
Speaking at the event's press conference, President and CEO of Rikaz, Sheikh Khalid Al Gahtani, said, “The launch of the Royal Amwaj Resort heralds a new era in the development of the Saudi Arabian real estate and tourism industry. The real estate industry should be based on modern architecture that is sensitive to society’s values and the environment, together with regulated investment schemes that would enhance investors’ protection.”
Sheikh Khalid concluded by saying “Rikaz is a company that strives to combine a modern real estate vision with serious investments. Projects like City Fanar, Rikaz’s flagship development, and the Royal Amwaj Resort represent a new stage in the evolution of the mature and fast growing Saudi real estate industry. Sheikh Khalid added that Rikaz is committed to acting as the foremost exponent of change in the Saudi Arabian real estate market, leading the campaign for higher architectural and building standards, the creation of environmentally sensitive and socially-inclusive urban communities.”