{"id":30133,"date":"2021-03-23T15:08:04","date_gmt":"2021-03-23T11:08:04","guid":{"rendered":"https:\/\/www.middleeastevents.com\/blog\/?p=30133"},"modified":"2021-03-23T15:08:04","modified_gmt":"2021-03-23T11:08:04","slug":"cityscape-intelligence-awards-recognise-key-projects-supporting-saudi-arabias-vision-2030","status":"publish","type":"post","link":"https:\/\/www.middleeastevents.com\/blog\/cityscape-intelligence-awards-recognise-key-projects-supporting-saudi-arabias-vision-2030\/","title":{"rendered":"Cityscape Intelligence Awards Recognise Key Projects Supporting Saudi Arabia’s Vision 2030"},"content":{"rendered":"

Cityscape Intelligence, the region\u2019s premier real estate market analysis portal, created by Informa Markets, this week announced the winning projects for its Saudi Arabia Real Estate Awards, recognising progress and milestones on some of the Kingdom\u2019s most ambitious and transformative \u2018Giga Projects\u2019.<\/p>\n

The awards, which will kickstart a quarterly campaign to acknowledge developer and architectural excellence across the MENA region, have spotlighted significant efforts of developers and government-backed organisations to align with the Saudi Vision 2030. In the drive for economic diversification, authorities are seeking to increase participation from small and medium enterprises (SMEs) in the economy as well as generate jobs and increase domestic consumption by developing mega-projects worth billions of dollars.<\/p>\n

To support development, Saudi Arabia\u2019s Crown Prince, Mohammed bin Salman, announced a series of \u2018Giga Projects\u2019 funded in large part by the kingdom\u2019s own Public Investment Fund (PIF) \u2014 the 10th largest sovereign wealth fund in the world. These projects are specifically designed to promote growth in verticals such as petrochemicals, mining, tourism (including religious tourism), transportation, entertainment, healthcare and renewables.<\/p>\n

Tenesha Naidoo, Head of Content for Cityscape, said: \u201cIt is important to recognise and celebrate developers, architects and master-planners who are driving the industry. With a shared goal of Vision 2030, multiple parties in Saudi are working together on large-scale developments that will transform the country. The Cityscape Intelligence Awards has once again highlighted the perseverance and resilience the regional real estate market has shown throughout 2020.\u201d<\/p>\n

Winning projects were announced across seven distinct categories including Commercial \u2013 Office, Sustainability, Residential, Leisure & Hospitality, Commercial \u2013 Retail, Tech & Innovation and a Judge\u2019s Choice award.<\/p>\n

\u201cA number of our 2021 KSA Real Estate Award winners are projects integral to the delivery of KSA\u2019s Vision 2030 strategy and are set to play a key role in the government\u2019s plan to diversify away from the reliance of hydrocarbon, and more towards tourism,\u201d explained Naidoo. \u201cWe made sure that our categories covered a wide range of industry verticals, with a special focus on sustainability, and tech & innovation \u2013 both areas in which some incredible projects are being conceptualised and delivered.\u201d<\/p>\n

Taking the award for Leisure and Hospitality<\/em>, Coral Bloom, The Red Sea Project on Shurayrah Island is set for completion in 2030 and will comprise 50 resorts offering up to 8,000 hotel rooms and approximately 1,300 residential properties across 22 islands and six in land sites.<\/p>\n

John Pagano, CEO of The Red Sea Development Company at Coral Bloom Designs, said: \u201cFrom conception, it was paramount that Coral Bloom blended in with the natural environment and did not disturb the existing wildlife around Shurayrah Island. By protecting the pristine environment and making additions that actively enhance the area, Coral Bloom perfectly captures our ambition on this project. That being a barefoot luxury experience unlike anywhere else on earth, where rather than pose an ecological threat, tourism can be used as a catalyst for significant regeneration.\u201d<\/p>\n

\u201cWe are extremely proud that The Red Sea Project\u2019s contributions to Saudi Arabia\u2019s Vision 2030 goals have been formally recognised by Cityscape Intelligence.\u201d<\/p>\n

Jeddah\u2019s Airport City, the transport-orientated urban development that connects a high-speed railway, airport and motorway junction, won the Commercial \u2013 Office <\/em>award; NEOM\u2019s zero-emission smart city, The Line took the Sustainability <\/em>award and King Salman Energy Park (SPARK) took the Tech & Innovation<\/em> award, in recognition of its impressively designed communities that span an area of 50 sq km.<\/p>\n

Saudi Arabia is looking to become the fifth-most visited destination in the world by 2030, with the tourism sector increasing its GDP contribution to 10%, up from its current 3%.It is already home to five UNESCO-designated World Heritage Sites, with an on-going series of initiatives being added to its events calendar including Saudi Seasons, which was launched in 2019 and will encompass 11 annual festivals across the nation.<\/p>\n

The Residential <\/em>award, meanwhile, was given to the residential community situated in the 500-acre King Abdullah Petroleum Studies and Research Center; the Commercial \u2013 Retail <\/em>award went to the mega shopping boulevard, Parisiana in Riyadh.<\/p>\n

The judging panel also created a special category to recognise theInternational School Group\u2019s new campus in Al Khobar after it caught the judges\u2019 attention for its ability to blend state-of-the-art design with the evolving needs of 21st century learners.<\/p>\n

Following the announcement of the winning projects in Saudi Arabia, Cityscape Intelligence will open award shortlist nominations for Egypt in June and the UAE in September. In December, the programme will culminate in a MENA-wide real estate awards event with judges selecting the top projects from each country.<\/p>\n

2021Cityscape KSA Real Estate Award winners:<\/strong><\/p>\n