AROYA Cruises unveils first cruise ship   

Operated by Cruise Saudi, a Public Investment Fund-owned company, the new service features a refurbished 335-meter vessel. Supplied
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Updated 28 December 2023
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AROYA Cruises unveils first cruise ship   

RIYADH: Saudi Arabia’s cruise sector is poised for a significant transformation with the unveiling of a new vessel by AROYA Cruises, reflecting the Kingdom’s commitment to global tourism and maritime competitiveness.  

Operated by Cruise Saudi, a Public Investment Fund-owned company, the new service features a refurbished 335-meter vessel, catering to passengers’ preferences.  

With 19 decks and 1,682 refined cabins, this ship aims to redefine Arabian holiday experiences, the company said in a press release.  

With Saudi Arabia seeking to diversify its economic portfolio, the launch of this new cruise line stands as a testament to the Kingdom’s commitment to fostering a vibrant and competitive presence in the global tourism and voyage sectors.  

Commenting on the latest development, Cruise Saudi CEO Lars Clasen said: “This marks an exciting milestone for Cruise Saudi in creating a world-class cruise industry in Saudi Arabia, while offering a new way to holiday in the Kingdom for locals. We look forward to welcoming the first passengers onboard.”

AROYA Cruises will set sail from Jeddah in 2024.

Cruise Saudi was officially launched in 2021 to develop the infrastructure and services required to scale a full-suite cruise market in Saudi.  

The company is responsible for the development and operation of cruise berths and terminals as cruise gateways to key Saudi destinations, as well as scaling cruise services, from marketing to Shorex design and coordination and ship operations. 

The PIF-owned company welcomes cruise lines from around the globe to include Saudi as a port of call on their itineraries and add new destinations across the Kingdom that boast rich cultural heritage, history, and natural wonders. 

Earlier in October, it announced investments into various tech organizations for its AROYA Cruises. 

The company said that the project had entered its inaugural phase of technology stack development, solidifying partnerships with globally renowned tech companies. 

These strategic collaborations, featuring Monitor Deloitte, Alibaba Cloud SA and theICEway as well as SourceToad, Otalio and Versonix Seaware, underscore Cruise Saudi’s commitment to providing passengers with a seamless journey from booking to boarding and beyond. 

 

 


Dubai inflation eases to 2.7% in November

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Dubai inflation eases to 2.7% in November

RIYADH: Dubai’s annual inflation rate slowed to 2.7 percent in November, down from 3.4 percent in the previous month, according to official data released by Dubai Statistical Center. 

The main cause of the slowdown was a decline in transport prices, which decreased by 1.9 percent month on month. 

On an annual basis, transport prices witnessed a moderate rise of 0.2 percent in November compared to a 4.2 percent increase the previous month.

The steady inflation rate aligns with the wider trend observed in the Gulf Cooperation Council region, where countries are successfully navigating price shocks by adopting effective economic policies. 

In November, Saudi Arabia witnessed an inflation rate of 1.9 percent, down from 2.2 percent observed in October. 

Commenting on Dubai’s inflation figure, Emirates NBD, a government-owned bank, commented: “The primary driver of the cooldown in inflation in November was the transport component, which accounts for around 9 percent of the CPI ( consumer price index) basket and has long been the primary driver of monthly inflation volatility in Dubai.” 

According to DSC, the housing and utilities sector, which accounts for 40.68 percent of the Emirates’ CPI basket, witnessed a 5.3 percent year-on-year rise in November. 

The prices for food and beverages, which make up 11.66 percent of the CPI basket, also increased by 0.7 percent in November compared to the same month in the previous year. 

Conversely, the prices of clothing and footwear declined by 0.8 percent year on year in November. 

“Annualized inflation has averaged 2.8 percent over January to November and is likely to come in just marginally higher than our long-held forecast for an average of 2.6 percent,” said Emirates NBD. 

It added: “We expect price growth to remain at a broadly similar level in 2026, forecasting an average of 2.5 percent over the course of the year.” 

In October, a report by the International Monetary Fund noted that inflation in the GCC region is expected to average at 1.7 percent in 2025 and 2 percent in 2026, underscoring the bloc’s resilience to global price pressures.