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RIKAZ Participates in the Cityscape Global Exhibition and Signs Agreements in the Hospitality Sector Worth Approximately SAR 440 million

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Riyadh, November 14, 2024: RIKAZ, a leader in real estate development, is participating in the Cityscape Global exhibition, which will be held from November 11 to 14 at the Riyadh Exhibition and Conference Center in Malham, north of the capital, under the theme “Future of Life”.

In its vast exhibition booth, spanning more than 425 square meters, RIKAZ showcases a wide range of its residential, commercial, logistical, and hospitality projects, providing an interactive experience for visitors that reflects the company’s approach to building integrated communities. The booth includes a special section to display projects by “ZAYA,” one of the companies recently launched by RIKAZ as part of its expansion plan.

The booth is innovatively designed to guide visitors on an introductory tour of the company’s various projects. It will demonstrate all its services, designs, and solutions, reinforcing its mission to create vibrant communities rather than just real estate units.
RIKAZ has a rich and diverse residential, commercial, logistics, and hospitality portfolio, with the group’s investments amounting to SAR 8 billion, a figure expected to double in the coming years.

RIKAZ’s vision aligns with the Kingdom’s rapid urban development and falls within its ambitious expansion plans in line with Vision 2030. The company occupies a prominent position in the region owing to its completion of unique real estate projects in prime locations and vast areas. It offers high-end services that enhance quality of life and meet the aspirations of Saudi citizens for unique, distinguished housing.

During its participation, RIKAZ signed several agreements that reflect its commitment to supporting its future projects. One of these agreements is with Kerten Hospitality, an end-to-end lifestyle hospitality operator creating bespoke destinations, experiences, and communities, to provide hospitality services for serviced apartments within the Uptown project, with investments exceeding SAR 260 million. The agreement aims to offer an advanced living concept centered on human experience.

Additionally, RIKAZ signed a significant agreement with SEDCO Capital as part of establishing a real estate investment fund to develop a project in the hospitality sector in Riyadh, with investments exceeding SAR 180 million, strengthening the company’s capabilities in this vital sector.

Sheikh Khaled bin Hassan Al-Qahtani, Chairman and CEO of RIKAZ, emphasized the importance of the Cityscape Global exhibition as a platform that brings together real estate professionals and enthusiasts worldwide. He stated, “The exhibition represents a genuine opportunity to establish partnerships that contribute to advancing the real estate sector, which is one of the main economic pillars within the Kingdom.”
He added, “As part of its expansion plan, RIKAZ is keen on actively participating in all major real estate events to exchange expertise and showcase its unique journey and achievements in the sector to investors and partners. RIKAZ’s pioneering projects meet the Kingdom’s citizens’ needs and enhance their quality of life.”

He further explained, “The company believes that real estate development goes beyond the projects implemented; it involves building strong relationships and exchanging knowledge in alignment with Vision 2030, which enhances the Saudi real estate market’s global position. RIKAZ is committed to innovating real estate solutions and building integrated and sustainable communities that serve the needs of Saudi society and contribute to the Kingdom’s economic growth and development.”

Notably, RIKAZ owns a rich and diverse portfolio of residential, logistical, commercial, and entertainment projects, which align with the company’s vision of supporting rapid urban development within the Kingdom as part of its ambitious plans under Vision 2030. The company has established a unique and distinguished position in the region due to its completion of several landmark real estate projects in prime locations, offering high-end services that enhance quality of life. The company continually strives to create innovative, sustainable, and creative real estate and investment products that affirm its strategic objectives and vision in line with Vision 2030.

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بعد مرور أكثر من ثلاثة عقود ..تكييف تجري تغييرًا في قيادتها وتُعيّن تونا غولينك رئيسًا تنفيذيًا لها

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أعلنت تكييف عن تعيين تونا غولينك في منصب الرئيس التنفيذي للمجموعة، مسجلة بذلك أول تغيير في قيادة الشركة الرائدة في توفير حلول التبريد منذ أكثر من ثلاثة عقود. ويأتي غولينك خلفًا لطارق الغصين الذي قاد أعمال الشركة العائلية منذ العام 1994، ونجح في تحويلها من شركة موزعة لعلامة تجارية واحدة، إلى أكبر مجموعة مستقلة لأنظمة التدفئة والتهوية وتكييف الهواء في الشرق الأوسط.

 

وبهذه المناسبة، أكد طارق الغصين، الذي سيتولى منصب رئيس مجلس الإدارة، أن غولينك يمتلك الرؤية الاستراتيجية والقيادة العالمية، إلى جانب القدرة على تنفيذ تحوّلات كبيرة في الأعمال، وهو ما سيعزز نجاح تكييف في المستقبل. وأضاف: “لدينا خطط طموحة للتوسع والنمو، لذا إن خبرة غولينك العريقة وفهمه العميق للمشهد التنافسي والاقتصادي والجيوسياسي سيمنحنا قيمة مضافة ورؤية ثاقبة وفرصًا واعدة للتوسع في المستقبل، وهو الشخص الأمثل لقيادة الشركة في المرحلة المقبلة”.

 

يتمتع تونا غولينك بخبرةٍ تزيد عن 20 عامًا في هذا المجال، حيث شغل العديد من المناصب العليا، وقام ببناء وتوسيع العمليات الرئيسية في تركيا وأوروبا والشرق الأوسط وأفريقيا. وتبرز رؤيته القيادية واستراتيجيته التنفيذية في هذه الأسواق العالمية، حيث قاد تحوّلاتٍ كبيرة في الأعمال وأجرى عمليات استحواذ نموذجية، مما ساهم في تحقيق نمو كبير. وبفضل تركيزه على الأفراد، وقدرته على بناء فرق عمل متعددة الثقافات وعالية الأداء أصبح معيارًا للتميز في الصناعة. وغولينيك حاصل على شهادة ماجستير في إدارة الأعمال التنفيذي من معهد إنسياد.

 

من جهته، قال تونا غولنيك، الرئيس التنفيذي لتكييف: “تقوم أعمال تكييف على الالتزام الراسخ بالابتكار والتميز، وقليلة هي الشركات في المنطقة التي تمتلك إرثًا مؤثرًا مثل إرث “تكييف”. الفرصة أمامنا استثنائية، وأنا متحمس لإمكانيات النمو في هذه المنطقة وخارجها. كما يشرفني أن أعمل جنبًا إلى جنب مع رئيس مجلس الإدارة، وفريق “تكييف”، لتسريع عجلة النمو وإعادة تشكيل مستقبل يعزز قدرتنا على الابتكار والتميز التشغيلي”.

 

وأعرب الغصين، رئيس مجلس إدارة تكييف، عن فخر المجموعة واعتزازها برسم مسار قطاع التبريد في الشرق الأوسط وبناء إرث قائم على قوة التكنولوجيا التحويلية والابتكار. وأضاف: “إن تسليم القيادة إلى الجيل القادم من المديرين التنفيذيين كان رؤية طويلة الأمد بالنسبة لي، وقد أصبح ذلك ممكنًا أخيرًا بفضل الخبرة الاستثنائية التي يجلبها غولينك كرئيس تنفيذي لتكييف. إنه أحد أبرز وألمع القادة في القطاع، ويتمتع برؤية استراتيجية وتميز تشغيلي يمكنه من رفع مستوى الأعمال إلى آفاق جديدة، ونحن متحمسون جدًا لانضمامه إلى الفريق”.

 

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The Middle East’s Most Expensive Penthouse at Bugatti Residences by Binghatti Sold for 550M

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 Binghatti is proud to announce a landmark achievement in the region’s luxury real estate sector with the sale of the most expensive penthouse in Dubai and the Middle East, valued at AED 550 million, at the iconic Bugatti Residences by Binghatti.

The historic transaction was concluded by Binghatti’s Chief Sales Officer Abdullah Binghatti, setting a new world record for Dubai’s real estate market and achieves the highest price per square foot ever recorded in Business Bay, reaching AED 11,650 per sq.ft.

Commenting on the achievement, Chairman Muhammad Binghatti states “Year to date, we have achieved the number-one position in Dubai’s real estate market, with more than 14,000 units sold, surpassing both public and private peers. As Dubai’s fastest-growing real estate player, Binghatti has now risen into the top three developers in the city, commanding a significant share of the market according to the latest Dubai Land Department figures. These results reflect the strength of our strategy and the trust our clients place in our vision.”

Spanning an extraordinary 47,200 sq.ft, this ultra-exclusive residence stands as a testament to the unmatched demand for Bugatti Residences by Binghatti, the world’s first Bugatti-branded residential development.

The development has already become home to several global icons, with football superstar Neymar Jr., Italian tenor Andrea Bocelli, and international footballer Aymeric Laporte among those who have purchased residences within the project.

Crafted for the world’s most discerning high-net-worth individuals, Bugatti Residences blends the elegance of French art de vivre with the energy of Dubai’s metropolitan core. Located in the heart of Business Bay, the development offers unparalleled access to the city’s major landmarks and business hubs, making it a preferred destination for global elites seeking prestige, security, and elevated living.

With its ultra-luxury homes, signature Sky Mansion penthouses, and world-first features, including exceptional privacy and bespoke amenities, Bugatti Residences continues to define the uppermost tier of Dubai’s luxury property landscape.

This record-breaking sale further reinforces Dubai’s position as a global capital for luxury real estate and highlights Binghatti’s ongoing commitment to delivering architectural icons that push the boundaries of
innovation and exclusivity.
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tpay Secures License to Offer Direct Mobile Payments for Government Services in Egypt

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Cairo, Egypt – 11 December 2025 – In a move aimed at promoting financial inclusion and providing new payment channels for all segments of Egyptian society, tpay, the leading value-added services provider, announced today the signing of Egypt’s first license with the National Telecom Regulatory Authority (NTRA) to offer Direct Carrier Billing (DCB) for government payments.
This milestone represents a significant step in advancing digital payments in Egypt, allowing citizens to pay for essential government services such as electricity and utility bills, traffic fines, and civil registry services directly through their mobile balance or added to their monthly mobile bill. The initiative expands access to citizens who own mobile phones but do not hold bank accounts or cards, making essential services available anytime with simple and seamless steps, without complex procedures.
The framework agreement was signed by Ahmed Nabil, tpay General Manager, and Mohamed Shamroukh, President of NTRA, marking a key step toward enabling and operationalizing mobile-based government payments in Egypt.
“This development marks a turning point in enabling secure and frictionless payments for government services via mobile numbers,” said Isik Uman, Group CEO of tpay. “Through this licensed framework, we are laying the foundation for a national digital payment channel that broadens access, improves convenience, and supports Egypt’s evolving digital economy. Our mission as a payment connector is to simplify transactions and bring essential services closer to every citizen.”
Financial inclusion data indicates that 76.3% of Egyptian adults already hold active bank accounts, while mobile and mobile internet penetration is nearly universal, highlighting a major opportunity to extend digital payments to even more citizens through mobile devices.
This licensed framework reinforces tpay’s role as the main payment enabler for mobile-based government services in Egypt, providing a trusted, flexible, and scalable pathway for government fee collection, and paving the way for further growth as more government services transition to digital channels.

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