DUBAI: Saudi developer Dar Al Arkan is selling villas co-branded with Elie Saab, the Lebanese designer.
The villas will be located in its upmarket Shams Ar Riyadh project, the developer said in a statement on Wednesday. It did not disclose how much they would cost, when they would be built, or how many of them would be for sale.
The Shams Ar Riyadh project is located north of Riyadh, on the King Khalid Road, extending over an area of more than 5 million square meters
“Working with illustrious names in the fashion world, we will raise the standards of luxury property and position Riyadh as a preferred destination for the discerning,” said Ziad El Chaar, vice chairman of Dar Al Arkan.
Gulf developers have turned to fashion designers and sports personalities to help sell homes in a competitive marketplace. Dubai-based Damac teamed up with Roberto Cavalli to sell its “Just Cavalli” villas in its Akoya development in the emirate. Emaar has also tied up with Armani in the past to promote real estate developments.
Dar Al Arkan offers Elie Saab haute homes in Riyadh
https://arab.news/8e4gd
Dar Al Arkan offers Elie Saab haute homes in Riyadh
- No prices or delivery dates disclosed
- Latest developer tie up with fashion
Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn
RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.
On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.
The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.
According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.
The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.
The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.
The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.
Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.
The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.
Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.
Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.
The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.
Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.
