Cruise Saudi teams up with Columbia blue to elevate AROYA Cruises offering 

The partnership aligns with Cruise Saudi’s vision to offer a unique Arabian cruise experience. (Supplied)
Short Url
Updated 25 August 2023
Follow

Cruise Saudi teams up with Columbia blue to elevate AROYA Cruises offering 

RIYADH: Cruise Saudi, a wholly-owned venture of the Public Investment Fund, has unveiled a strategic partnership with the leisure services platform, Columbia blue, for the development of its much-anticipated premium cruise line, AROYA Cruises. 

In a significant move, Cruise Saudi has selected Columbia blue, one of the leading players in the ship management industry, as its designated ship manager for AROYA Cruises. 

The platform specializes in cruise and expedition passenger vessel management and boasts a large portfolio featuring some of the globe’s most distinguished brands. 

Under this partnership, Columbia blue will be responsible for AROYA Cruises’ hotel management operations, covering critical areas such as guest relations, housekeeping, crew management and food and beverage. Additionally, the platform will take charge of deck and engine management, ensuring the vessel’s smooth operation and passenger safety. 

Talking about the collaboration, Cruise Saudi’s CEO, Lars Clasen, emphasized the significance of this partnership in delivering a unique voyage for AROYA Cruises passengers.  

“Columbia blue is a leader in the ship management industry and an instrumental organization for AROYA Cruises to work with. This strategic partnership is crucial in ensuring that AROYA Cruises passengers have the best possible experience on-board,” he said. 

The partnership aligns with Cruise Saudi’s vision to offer a unique Arabian cruise experience. 

Columbia blue’s CEO, Norman Schmiedl, expressed pride in contributing to crafting an authentically Arabian experience for AROYA Cruises guests.  

He added: “We are extremely proud to be helping AROYA Cruises deliver a remarkably Arabian experience to their guests. We are deploying all of our 40 years of experience in cruise ship management to deliver safe, efficient and sustainable standards to AROYA Cruises.” 

Announced in June 2023, AROYA Cruises is set to be the Kingdom’s upscale maritime venture, designed to cater to the preferences of Saudi nationals, expatriates, and regional visitors. 

The partnership with Columbia blue underscores Cruise Saudi’s broader mission to generate 50,000 employment opportunities within Saudi Arabia and welcome an estimated 1.3 million cruise passengers annually by the year 2035.  

Earlier this week, Cruise Saudi and the Royal Commission for Jubail and Yanbu inked a memorandum of understanding to unlock the tourism potential of the Kingdom's unexplored southern region. 

This strategic partnership aims to position the southern region as a captivating destination for tourists, fostering growth in tourism and contributing to the region’s economic advancement.   


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

Updated 10 March 2026
Follow

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.