New Event Developments has announced the launch of its first project in the Kingdom of Saudi Arabia—the residential development Sakan View in Jeddah. Hamid Al Rajawi, Chairperson of New Event Developments, stated: "After more than a year of in-depth study, we are proud to launch our first project in Saudi Arabia. Our decision to enter this market reflects our firm belief in its position as one of the region's most stable, attractive, and profitable real estate markets." Al Rajawi explained that Sakan View will offer residents the highest standards of luxury while ensuring strong investment returns. "We were keen to select a strategic location that provides easy access to essential services," he added. Mohamed Al-Asry, CEO of New Event Developments, noted that the company will collaborate with leading engineering consultants to guarantee timely delivery and ensure the project meets the highest standards of modern and sustainable construction. Beyond its expansion into Saudi Arabia, New Event Developments has an active presence in Egypt, with several projects concentrated in the New Administrative Capital. These include Qamari Compound in the R8 district, as well as Trave Business Complex and H Mall in Downtown. Established in Egypt in 2014, following earlier work in the UAE, the company relies on self-financing and has focused its investments on mixed-use and commercial projects.
