Saudi construction boom calls for $34bn investment in HVAC R systems

HVAC R Expo Saudi is the region’s largest, three-day event for HVAC R industry professionals to network, do business and discover new technologies.
Short Url
Updated 25 December 2019
Follow

Saudi construction boom calls for $34bn investment in HVAC R systems

HVAC R Expo Saudi, Saudi Arabia’s largest event dedicated to the heating, ventilation, air conditioning and refrigeration (HVAC R) industry, will return to for a 5th edition at the Riyadh International Convention & Exhibition Center from Feb. 11 to 13, organizers dmg events said.

The announcement comes as opportunities for HVAC R stakeholders in the Middle East market are growing exponentially. GCC investments in HVAC R systems over the next decade are estimated to exceed $68 billion in total, according to a recent report published by dmg events and MEED Projects.

Event Director for HVAC R Expo Saudi, Roni El-Haddad said: “On the back of a construction boom in the country, Saudi Arabia alone represents over 50 percent of the total needed investments for HVAC R solutions in the GCC over the next 10 years, with $34 billion worth of systems expected to be installed in that time.”

He adds: “As demand increases the market will need to develop in line with government goals such as energy conservation and smart initiatives, making it the perfect time for the local and overseas industry to gather under one roof at HVAC R Expo Saudi.”

Expecting to host over 80 exhibiting brands from around the world, HVAC R Expo Saudi is the region’s largest, three-day event for HVAC R industry professionals to network, do business and discover new technologies.

Saud Nasser Al-Khusaibi, secretary-general of GCC Standardization Organization (GSO), said: “The mission of GSO is to unify standardization activities among the GCC member states in order to promote the industry and boost sustained development of the collective economy in turn. Such activities adhere to the best international practices, and contribute to the protection of the customer, environment and public health.”

Products on display at HVAC R Expo Saudi will relate to climate control, air quality and ventilation, air conditioning, refrigeration and heating, HVAC equipment and services, and building automation. Industry heavyweights that have already signed up to exhibit include the likes of Carrier Middle East Equipment, Zamil Air Conditioners, Alessa-Samsung-Crafft, Conex Banninger, and for the first time GreenAire, to name but a few.


Karl Lagerfeld and Aark Developers announce luxury beachfront residential project in Ras Al-Khaimah

Updated 16 December 2025
Follow

Karl Lagerfeld and Aark Developers announce luxury beachfront residential project in Ras Al-Khaimah

Karl Lagerfeld and Aark Developers have signed a partnership to develop Karl Lagerfeld Residences, a beachfront residential project in Ras Al-Khaimah, ideally located on Al-Marjan Island. The signing ceremony took place on Dec. 10 in Paris at Karl Lagerfeld’s office, in the presence of Pier Paolo Righi, CEO of Karl Lagerfeld, and Rahul Kumar Gupta, chairman of Aark Developers. 

Valued at over $1.4 billion, this iconic ultra-luxury waterfront development is set to redefine beachfront living in the UAE and is scheduled for completion in 2028, delivering a collection of 663 sea view residences. The residences range from one to four bedrooms, with select residences offering private pools. The collection also comprises 20 podium villas, 10 ultra-exclusive sky villas/penthouses, and 11 rare beachfront villas, each with its own private pool. Residents will enjoy access to a fully curated lifestyle featuring two signature cafés and restaurants, a destination beach club, and a spectacular sky bar with an infinity pool, offering its own 1,000-feet private beach, creating an address defined by architectural excellence, exclusivity, and resort-style living at an unprecedented scale. 

Set within Ras Al-Khaimah’s fast-growing development landscape, Al-Marjan Island continues to establish itself as a luxury hub for tourism, hospitality, and entertainment in the region. The area’s outlook is further strengthened by the upcoming Wynn Al-Marjan Island integrated resort, set to open in 2027 and expected to elevate the emirate’s international profile. 

“This project marks a defining expression of how the Karl Lagerfeld universe can redefine modern living,” said Righi. “With Aark Developers, we are creating a signature landmark on Al-Marjan Island, one that brings Karl’s visionary design language into a breathtaking large-scale residential experience. It is a project we are genuinely proud to share with the region.” 

Gupta added: “What brought Aark Developers and Karl Lagerfeld together is a mutual commitment to detail, refinement, and creating spaces with purpose. We believe that great design goes beyond aesthetics — it shapes how people feel, interact, and live. This project on Al-Marjan Island embodies that vision, offering a living experience rooted in quality, harmony, and enduring elegance.” 

This is Karl Lagerfeld’s second branded project in the Middle East. A launch event in Dubai is planned for Q1 of 2026.

Karl Lagerfeld continues to expand its presence in hospitality and branded living, with projects including Karl Lagerfeld hotels in Macau and Marbella, Dubai Villas, and Lisbon Residences.