Saudi Arabia’s NEOM to host Zannier Hotels’ luxury resort in Magna region 

Magna’s destinations will be located in the northwest of Saudi Arabia on the coast of the Gulf of Aqaba. NEOM
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Updated 01 October 2024
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Saudi Arabia’s NEOM to host Zannier Hotels’ luxury resort in Magna region 

  • Zannier Zardun will provide a range of sports and leisure activities, as well as stargazing, meditation, and yoga
  • NEOM introduced Magna in June, a sustainable development featuring 12 locations along 120 km of coastline

RIYADH: Saudi Arabia’s NEOM city is set to welcome a new luxury eco-resort, Zannier Zardun, in the Magna region following a recent agreement with the French hospitality group.  

The 800-room development, located within the 4-sq. km Zardun area, will feature three distinct buildings, each designed to offer a unique experience, according to a press release.  

Situated along the Gulf of Aqaba coastline, Zannier Zardun will provide a range of sports and leisure activities, including trekking, mountain biking, rock climbing, as well as stargazing, meditation, and yoga. 

This development aligns with Saudi Arabia’s broader economic diversification strategy, which aims to reduce the Kingdom’s reliance on oil by boosting tourism.  

The National Tourism Strategy targets attracting over 150 million visitors by the end of the decade and increasing the sector’s contribution to the Kingdom’s gross domestic product from 6 percent to 10 percent. 

Jeremy Lester, executive director at Magna, said: “Zannier Zardun epitomizes NEOM’s dedication to crafting unrivaled experiences that celebrate the precious environment and rich heritage of Magna. Together we will carefully and diligently cultivate and conserve the vibrant ecosystem along the coast for future generations.”   

He added: “This partnership with Zannier Hotels reflects a unified vision where ultra-luxury and sustainability coexist in perfect harmony. Zannier Zardun charters new horizons, merging our grand ambitions and shared values to create lasting memories for our guests and visitors to cherish.” 

NEOM introduced Magna in June, a sustainable development featuring 12 locations along 120 km of coastline. The project will include 15 hotels, 1,600 rooms, and over 2,500 residences. 

The region is projected to create 15,000 jobs, contribute SR2.6 billion ($693 million) to the Kingdom’s gross domestic product by 2030, house 14,500 residents, and attract 300,000 visitors annually. 

Arnaud Zannier, founder and CEO of Zannier Hotels, said that the agreement with NEOM could help solidify its position among top-tier hospitality brands. 

“It highlights our ambitious vision and commitment to excellence, serving as both a cornerstone for our brand’s evolution and a testament to our emergence as a formidable contender in the luxury hospitality market,” said Zannier.


Egypt-born Dina Powell McCormick appointed Meta president and vice chairman

Updated 13 January 2026
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Egypt-born Dina Powell McCormick appointed Meta president and vice chairman

  • The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
  • Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution

LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.

The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.

Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.

“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.

Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.

Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.