Hive, an innovative living solution tailored for young professionals, has announced a strategic expansion into the Saudi Arabian market through a partnership with Rafal Real Estate Development Company. Backed by ARM Holding, the new project follows HIVE’s success in the UAE.
The new venture marks a major milestone in HIVE’s journey, and signifies the brand’s commitment to redefining the residential landscape in the broader GCC region. The flagship project features a sophisticated 200-key apartment building situated on King Salman Bin Abdulaziz Road, designed to cater to the dynamic needs of young professionals as a plug-and-play living experience.
Elias Abousamra, CEO of Rafal, said, “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, also expressed his excitement for the alliance with Rafal Real Estate Development Company, saying: “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.”
By bringing their proven co-living concept to Saudi Arabia, including the 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, HIVE hopes to significantly influencing the future of modern living in the kingdom.
