In a landmark development signaling a transformative shift in urban lifestyles, Rafal Real Estate Development Company has joined forces with Dubai-based HIVE, a purveyor of pioneering living solutions, to make inroads into the Saudi Arabian market.
A ceremonial event marked the initiation of their first venture on King Salman Road in Riyadh. This initiative is set to spearhead a wave of projects across over ten pivotal locations throughout the city.
Rafal is renowned for its avant-garde approach to property development, whereas HIVE specializes in crafting living environments geared towards the energetic lives of young professionals. HIVE’s offerings reach beyond mere housing; they provide an all-inclusive, ready-to-go habitation experience founded on the principles of adaptability, communal engagement, and ease.
Elias Abousamra, the CEO of Rafal, highlighted the synergy of the partnership, “At RAFAL, we stand on a culture of innovation, ambition, and success. Our ethos is the driving force behind our alliance with HIVE. We are setting out to revolutionize living solutions by combining our expertise to forge superior communities, services, and business practices that will transform the concept of modern living in Saudi Arabia and potentially further afield.”
Bass Ackermann, the CEO of HIVE, shared his enthusiasm about the strategic union with Rafal. “This collaboration perfectly blends HIVE’s revolutionary living model with RAFAL’s regional insights to craft a new paradigm for contemporary living in Saudi Arabia. It is more than a business collaboration; it’s a fusion of knowledge aimed at creating unique, community-focused residences that echo the distinct desires of our occupants,” he said.
HIVE, building on its success in the UAE, is introducing its validated co-living model to the Saudi market. Catering to the growing segment of young professionals, HIVE’s facilities are designed to address their specific needs, offering amenities like adaptable workspaces, a fully equipped communal kitchen, a private listening room, a cozy lounge, a welcoming swimming pool, and cutting-edge fitness amenities.
The alliance between Rafal Real Estate Development Company and HIVE transcends mere expansion into new territories; it signifies a strategic move to influence the trajectory of contemporary living in KSA. Collectively, they strive to establish benchmarks and create habitats that resonate with the evolving preferences of individuals in the region.