EgyptAir set to fly back to Qatar

EgyptAir planes are seen on the tarmac, following an outbreak of the coronavirus disease (COVID-19), at Cairo International Airport in Cairo, Egypt. (Reuters)
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Updated 13 January 2021
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EgyptAir set to fly back to Qatar

  • The Egyptian Ministry of Aviation said that the first Qatari flights will arrive at Borg El Arab Airport next Thursday

CAIRO: EgyptAir plans to operate a daily flight to the Qatari capital, Doha, after airspace was reopened between the two countries following the AlUla agreement that was concluded in Saudi Arabia last week.

The Chairman of EgyptAir Holding Company Rushdi Zakaria said that EgyptAir might add another daily flight to Qatar in the event of increased demand.

He said that the date for the operation of the flights will be announced once the necessary permits are completed between aviation authorities in the two countries.

He added that the flight schedule has been prepared, uploaded to operating systems, and is being marketed by EgyptAir.

Following the AlUla agreement, the Egyptian Ministry of Civil Aviation decided to resume flights with Qatar, reopen its airspace to Qatari airlines. 

The decision to close airspace had lasted nearly three and a half years.

Flights between Qatar and Saudi Arabia were resumed on Monday after the recent reconciliation between the Gulf parties. The UAE and Bahrain also announced the opening of their airspace to Qatari aviation.

The Egyptian Ministry of Aviation said that the first Qatari flights will arrive at Borg El Arab Airport next Thursday.

Sources confirmed that the airspace reopening is the first step in the path of restoring relations between the two nations.

A meeting is expected in the coming weeks between Qatari and Egyptian diplomatic and security officials. 

Qatar will resume several economic projects in Cairo — after it obtained approvals for their completion — including the Deyaar company being given approval by the New Urban Communities Authority to complete the CityGate project.


Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

Updated 10 March 2026
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Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.

According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.

Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.

A $3 billion metro-connected district

The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters. 

It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.

The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.

Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.

“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation. 

$850 million cultural district package

In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.

The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.

“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.

Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.