Zawya Features HIVE’s Expansion into Saudi Arabia with Rafal Real Estate

Zawya has featured HIVE’s strategic expansion into the Saudi Arabian market through a partnership with Rafal Real Estate Development Company. This collaboration marks a pivotal moment in redefining modern living in the GCC region, catering to young professionals with a flexible, community-driven lifestyle.

The groundbreaking ceremony for HIVE Riyadh took place on February 23, 2024, symbolizing the start of this innovative co-living project. The 200-key apartment building on King Salman Bin Abdulaziz Road will offer state-of-the-art amenities, including flexible workspaces, a chef’s kitchen, a resident lounge, a pool, and fitness facilities.

HIVE’s CEO, Bass Ackermann, emphasized the importance of this expansion, highlighting the synergy between HIVE’s innovative living concepts and Rafal’s deep local expertise. Rafal’s CEO, Elias Abousamra, echoed this sentiment, positioning the partnership as a significant step toward shaping the future of residential communities in Saudi Arabia.

With strong backing from A.R.M. Holding, a founding partner of HIVE, the project leverages its success in the UAE to introduce proven co-living solutions to a new market. The initiative reflects a broader commitment to fostering dynamic, high-standard living spaces for young professionals.

Read the full article on Zawya here.