Real Estate

Ouspace offices and business club in Jeddah ... the first in the Middle East.

Ouspace offices and business club in Jeddah ... the first in the Middle East.

News in brief

October 2019

Ouspace brings co-working concept to Mideast

Specialist mixed-use operator Kerten Hospitality has opened its first Ouspace in the Middle East, with the launch of its serviced offices and business club in Jeddah, Saudi Arabia.

Ouspace Bakheet, located in the Bakheet headquarters, is an 850-sq-m holistic coworking office space and business club offering tailormade office spaces of all sizes for short- and long-term let.

Spread over two floors, Ouspace Bakheet is open, flexible and convertible, with private and shared office spaces, a business lounge, meeting zones and event rooms, as well as multipurpose social areas and a premium café to encourage connections and collaboration between members.

The club is accessible 24/7, with office attendants, business support, postal services, event planning, advanced technical assistance and round-the-clock helpdesk provided.

Marloes Knippenberg, chief executive officer of Kerten Hospitality, says: “Saudi Arabia is becoming an increasingly attractive base for multinationals, small businesses and start-ups seeking to do business in the Middle East.

“Ouspace Bakheet enables national and international businesses, from large corporates and SMEs to freelancers and entrepreneurs, to establish themselves in the market quickly, with minimal overheads and flexible packages that allow them to scale their office space up and down as needed. In addition, our stylish design, technology focus and commitment to holding community events provide our ‘Ouspace citizens’ with extremely attractive workspaces.”

Members at Ouspace Bakheet will benefit from hotel and dining discounts and complimentary gym and Ouspace access at The House Hotel Jeddah, a mixed-use development also operated by Kerten Hospitality, which is set to open in Q4 this year.


Galleria Al Maryah Island opens after massive expansion

Gulf Related, a joint venture between Gulf Capital and Related Companies, has announced the completion of The Galleria Al Maryah Island’s expansion thus transforming it into a major entertainment and leisure hub in the UAE capital. Guests are now able to eat at 70 dining venues, play in multiple forms of entertainment and shop over 250 international brands all under one roof.

The expansion is over 80 per cent leased with nearly all stores expected to open by the end of the year.

The Abu Dhabi’s newest lifestyle destination builds on the success of The Galleria’s Luxury Collection, which has seen year-over-year sales growth since opening in 2013.

Families can play in landscaped urban rooftop parks and at world-class entertainment destinations for all ages, and catch the latest blockbusters at The Galleria’s flagship 21-screen VOX Cinema with IMAX. Visitors will also be entertained in destinations such as Xtreme Zone, an Abu Dhabi flagship location.

The Galleria’s expansion introduces a first-in-the-region culinary concept Central Kitchens, designed by renowned architect David Rockwell, as well as first-to-Abu Dhabi stores including trendsetting fashion brand Missguided and sporting giant Decathlon.

Unique art installations, created exclusively for The Galleria by local and international artists, pay homage to the culture and heritage of Abu Dhabi.  Artists including Sheikh Firdous, Julia Ibbini, Ahmed Al Zarooni and Soroshi Michelle highlight traditional and ancient arts such as Sadu Weaving and Nabati poetry. Installations also highlight Abu Dhabi’s natural landscape, the city’s present-day multiculturalism and its future.


MAG unveils unique payment option

MAG Property Development, which has launched Dh8-billion ($2.2 billion) residential projects including MAG City, Meydan, Al Furjan Villas and MPL Tower in Jumeirah Lakes Towers, has announced a comprehensive payment option to own a property in Dubai.

This exceptional initiative, the first of its kind in the region, provides customers with the opportunity to pay Dh120 per day to own a house without any additional terms or fees and offers easy payment plans over periods of up to 20 years. The programme is in line with Dubai’s vision and market needs and is an active contribution to the government’s policy on low-income and affordable housing, says the developer.

CEO Talal Moafaq Al Gaddah says: “This programme for affordable housing is based on the company’s vision that developers’ policies must change to meet market demands and keep pace with its development and growth rates, as well as the diversity of projects.”

“All payment plans are tailored specially for the programme, which means that the customer will not have to pay registration fees, service fees or any other administrative fees, while the payment periods vary between 10, 15 and 20 years. The programme also provides additional benefits such as life insurance and programmes for protecting employees from job loss,” he adds.

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