NEOM announces new tourism escape Siranna 

Developing the tourism sector is a key agenda of Saudi Arabia’s Vision 2030, as the Kingdom is steadily diversifying its economy away from oil. Supplied.
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Updated 30 November 2023
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NEOM announces new tourism escape Siranna 

RIYADH: Saudi Arabia’s giga-project NEOM has unveiled its latest sustainable tourism destination, Siranna, featuring a 65-key hotel and 35 exclusive residences. 

Siranna will also feature a beach club, spa, wellness facilities, and horse riding offerings for visitors, according to a press statement.  

“Sophisticated dining and entertainment options will also satisfy a wide range of tastes and interests among guests,” said NEOM in the press statement.  

It added: “The guiding principle underpinning the development is to ensure minimal intervention in nature, where thoughtful and deliberate techniques will be used to preserve the surrounding landscape.” 

Developing the tourism sector is a key agenda of Saudi Arabia’s Vision 2030, as the Kingdom is steadily diversifying its economy away from oil.  

Through its National Tourism Strategy, Saudi Arabia aims to attract 150 million tourists to the Kingdom by the end of this decade – a target revised up from 100 million.

“Aligned with NEOM’s commitment to conservation, Siranna will complement its coastal location and be delivered sustainably,” added NEOM in the press statement.  

Earlier this month, NEOM, which is being developed with a budget of $500 billion, unveiled another tourism destination named Epicon, a new premium spot set along the Gulf of Aqaba. 

Epicon is expected to offer a diverse range of experiences that include leisure activities at a beach club, wellness programs, exploring natural landscapes, and fine dining options. 

The project will also feature two towers, one reaching 225 meters and the other 275 meters in height, encompassing a luxury hotel with 41 high-end tourist apartments and exclusive residential suites. 

Epicon also includes a resort comprising 120 rooms and 45 beachfront villas. 

On Nov. 28, affirming its commitment toward sustainability, NEOM signed multiple memorandums of understanding with Bosch and Bain&Co. to accelerate clean industrial transformation in Oxagon, the industrial facility located within the city.  

In an X post, Oxagon said that these deals with Bosch and Bain&Co. will help Oxagon “harness the expertise of each organization to shape the future of manufacturing through investments in innovation, technology and talent development.”  


Closing Bell: Saudi main index closes in red at 11,167  

Updated 11 February 2026
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Closing Bell: Saudi main index closes in red at 11,167  

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 46.43 points, or 0.41 percent, to close at 11,167.54. 

The total trading turnover of the benchmark index was SR4.88 billion ($1.30 billion), as 66 of the listed stocks advanced, while 192 retreated. 

The MSCI Tadawul Index decreased, down 5.52 points, or 0.37 percent, to close at 1,506.55. 

The Kingdom’s parallel market Nomu lost 153.40 points, or 0.65 percent, to close at 23,486.52. This comes as 32 of the listed stocks advanced, while 31 retreated. 

The best-performing stock was Tourism Enterprise Co., with its share price surging 9.95 percent to SR14.36. 

Other top performers included Mobile Telecommunication Co., Saudi Arabia, which saw its share price rise by 5.32 percent to SR11.48, and Al Masar Al Shamil Education Co., which saw a 4.86 percent increase to SR22.89. 

On the downside, Almoosa Health Co. was the day’s weakest performer, with its share price falling 4.81 percent to SR150.40. 

Dallah Healthcare Co. fell 3.81 percent to SR113.50, while Saudi Research and Media Group dropped 3.44 percent to SR100.90. 

On the corporate front, Arabian Plastic Industrial Co. has signed a non-binding memorandum of understanding with K. K. Nag to explore the establishment of a specialized manufacturing facility for expanded polypropylene products. 

According to a Tadawul statement, the agreement sets out initial mutual obligations and rights between the two parties as part of APICO’s broader expansion strategy to increase production capacity and meet rising industrial demand. 

The company’s share price rose 1.21 percent to SR43.52 on the parallel market.