BUSINESS

RAFAL partners with HIVE to introduce first coLiving in Saudi Arabia

March 05, 2024

In a significant move that ushers in a new era of modern living, Rafal Real Estate Development Company, in collaboration with HIVE, the innovative Dubai-based living solution, announces their strategic partnership in the Saudi Arabian market. The announcement was coupled with a ground-breaking ceremony for the first project on King Salman Road in Riyadh, to be followed with a series of projects covering more than ten strategic locations across the Capital.

Rafal embodies a cutting-edge approach to real estate development, while HIVE brings innovative living solutions tailored specifically for the dynamic lifestyle of young professionals. Designed to cater to the discerning needs of this demographic, HIVE offers more than just a residence – it delivers a comprehensive plug-and-play living experience. This innovative concept is rooted in the pillars of flexibility, community, and convenience, forming the cornerstone of Rafal and HIVE's commitment to providing a living environment that seamlessly aligns with the contemporary aspirations and preferences of young professionals.

Elias Abousamra, CEO of Rafal, articulates a shared vision, stating, "At RAFAL, our foundation is built on a culture of boldness, aspiration, and achievement. This essence not only defines our ethos but serves as the bedrock for our collaborative partnership with HIVE. Together, we embark on a journey to pioneer innovative living solutions, merging our strengths to create high-standard communities, services, and business practices that will redefine the landscape of modern living in Saudi Arabia and beyond."

Bass Ackermann, CEO of HIVE, expressed his excitement for the strategic alliance with Rafal Real Estate Development Company in its expansion into Saudi Arabia. He states, "This collaboration seamlessly merges HIVE’s innovative living concept with RAFAL’s local understanding to redefine contemporary living in Saudi Arabia. Beyond a business venture, it's a merging of expertise, dedicated to shaping distinctive, community-centric living spaces that resonate with our residents' unique aspirations."

Leveraging the success in the UAE, HIVE is introducing a proven co-living concept to Saudi Arabia. Recognizing the rising demographic of young professionals in the region, HIVE offers living solutions that prioritize the needs of this demographic. This includes the provision of flexible workspaces, a fully equipped chef's kitchen, a dedicated listening room, a comfortable resident lounge, an inviting pool, and state-of-the-art fitness facilities.

This collaborative effort between Rafal Real Estate Development Company and HIVE extends beyond a basic geographical expansion; it represents a significant move towards influencing the future of modern living in KSA. Together, they aim to set new standards and craft living spaces that align with the changing needs of individuals in Saudi Arabia.


March 05, 2024
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