Top hospitality firm selected to operate Cloud7 Residence in AlUla

The Cloud7 Residence AlUla will be home to 150 serviced bungalows in the initial phase and it will be transformed into a true community in 2023 where people can live and work or visit for a short stay. Supplied
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Updated 04 April 2023
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Top hospitality firm selected to operate Cloud7 Residence in AlUla

RIYADH: The Royal Commission for AlUla and the AlUla Development Co. have chosen Kerten Hospitality to manage and operate a new facility in AlUla under one of the group’s lifestyle brands: Cloud7.

The Cloud7 Residence AlUla will be home to 150 serviced bungalows in the initial phase and it will be transformed into a true community in 2023 where people can live and work or visit for a short stay.

Collaborations with local artists, food-preneurs, and businesses will stand at the forefront of supporting local businesses by bringing them together within a self-sufficient ecosystem.

Kerten Hospitality, owns and operates a collection of bespoke brands for hotels, residences, serviced apartments, serviced offices, restaurants, entertainment, and wellness, that aim to transform spaces through impactful local collaborations, innovation, and the creation of unique experiences.

“The opening of the Cloud7 Residence, operated by Kerten Hospitality, is an important milestone in our ongoing efforts to expand and diversify AlUla’s hospitality offerings,” said John Northen, vice president, head of hotels and resorts, Royal Commission for AlUla.

Kerten Hospitality’s operations in the Kingdom are tripling in 2023, as the group is strongly invested in the delivery of Vision 2030.

Rolf Lippuner, CEO of AlUla Development Company commented: “We are thrilled to collaborate with RCU to announce this exciting partnership with Kerten Hospitality which will position the Cloud7 Residence as a place to live, work and visit. We look forward to announcing more partnerships.”

Cloud7’s vision is to create a unique and affordable community, led by local talent which will contribute to the mission of the Royal Commission for AlUla to create employment locally and accelerate the development plans for AlUla and position the region as a global tourism hub while preserving the heritage sites in the area.

Marloes Knippenberg, CEO of Kerten Hospitality said: “We’re proud to support the development plan for AlUla working hand in hand with its visionary leadership.”


Closing Bell: Saudi main index closes in red at 10,847

Updated 25 February 2026
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Closing Bell: Saudi main index closes in red at 10,847

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.

The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.

The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.

The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.

The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.

Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.

On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.

Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.

On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.

In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.