RAFAL Real Estate Development Company Announces Strategic Partnership with HIVE to Enter the Saudi Market

RAFAL Real Estate Development Company Announces Strategic Partnership with HIVE to Enter the Saudi Market

Riyadh, Saudi Arabia – RAFAL Real Estate Development Company, a distinguished leader in the Saudi real estate market, proudly announces its strategic partnership with HIVE, the innovative Dubai-based living solution. This collaboration marks a pivotal milestone in RAFAL’s journey, underscoring its commitment to redefining the residential landscape across the GCC region.

The groundbreaking ceremony for HIVE Riyadh, a prestigious 200-key apartment building situated on King Salman Bin Abdulaziz Road, represents the inaugural step in this promising venture in Saudi Arabia.

RAFAL and HIVE Forge Partnership to Revolutionize Living in Saudi Arabia

Innovative Co-Living Concept

HIVE embodies a cutting-edge living solution tailored specifically for the dynamic lifestyle of young professionals. Designed to cater to this demographic, the company’s concept delivers a comprehensive plug-and-play living experience.

This innovative concept is rooted in the pillars of flexibility, community, and convenience, forming the cornerstone of the company’s commitment to providing a living environment that seamlessly aligns with the contemporary aspirations and preferences of young professionals.

Elias Abousamra, CEO of RAFAL, stated:

“At RAFAL, our foundation is built on a culture of boldness, aspiration, and achievement. This essence not only defines our ethos but serves as the bedrock for our collaborative partnership with HIVE. Together, we embark on a journey to pioneer innovative living solutions, merging our strengths to create high-standard communities, services, and business practices that will redefine the landscape of modern living in Saudi Arabia and beyond.”

Bass Ackermann, CEO of HIVE, expressed his enthusiasm for the strategic alliance:

“This collaboration seamlessly merges HIVE’s innovative living concept with RAFAL’s local understanding to redefine contemporary living in Saudi Arabia. Beyond a business venture, it’s a merging of expertise, dedicated to shaping distinctive, community-centric living spaces that resonate with our residents’ unique aspirations.”

Leveraging its success in the UAE, HIVE will introduce its proven co-living concept to Saudi Arabia. Recognizing the rising demographic of young professionals in the region, it offers living solutions that prioritize the needs of this demographic. This includes the provision of flexible workspaces, a fully-equipped chef’s kitchen, a dedicated listening room, a comfortable resident lounge, an inviting pool, and state-of-the-art fitness facilities.

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