The innovative living solution HIVE, based in Dubai, and Rafal Real Estate Development Company have announced a strategic partnership in the Saudi Arabian market, marking a significant milestone that ushers in a new era of modern living.
The announcement was made in conjunction with the groundbreaking ceremony for the first project, which will take place at King Salman Road in Riyadh. A number of other projects covering over ten key locations throughout the Capital will follow.
Rafal represents a state-of-the-art approach to real estate development, and HIVE offers creative living options designed to fit the active lifestyle of young professionals. Built to satisfy this group’s exacting standards, HIVE provides a complete plug-and-play living experience rather than just a place to live. This creative idea is based on the principles of convenience, community, and flexibility. These three pillars serve as the cornerstone of Rafal and HIVE’s dedication to offering a living environment that seamlessly satisfies the modern desires and aspirations of young professionals.
Elias Abousamra, CEO of Rafal, articulates a shared vision, stating, “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 excitement for the strategic alliance with Rafal Real Estate Development Company in its expansion into Saudi Arabia. He states, “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.”
Using the UAE’s success as a springboard, HIVE is bringing a tried-and-true co-living model to Saudi Arabia. HIVE provides living solutions that give priority to the needs of the growing number of young professionals in the area. Among the amenities offered are adaptable work areas, a fully furnished chef’s kitchen, a special listening area, a cozy resident lounge, a refreshing pool, and cutting-edge exercise centers.
Beyond just a simple geographic expansion, this joint venture between Rafal Real Estate Development Company and HIVE is a big step in the direction of shaping modern living in Saudi Arabia. Together, they want to create living environments that are in line with the evolving needs of Saudi Arabian people while also setting new benchmarks.