Business
K. Hovnanian Middle East, Saudi Arabia Tourism Development Fund, and Emaar, The Economic City Sign MoU to Deliver Tourism Investment and Lifestyle Residential Projects in KAEC
RIYADH, Saudi Arabia, Feb. 03, 2026 (GLOBE NEWSWIRE) -- K. Hovnanian M.E. Investments, LLC (KHME), a subsidiary of Hovnanian Enterprises, Inc. (NYSE: HOV) and the majority shareholder of Al Tahaluf Real Estate Company, CJSC, has signed a Memorandum of Understanding (MoU) with the Tourism Development Fund (TDF) and Emaar, The Economic City (EEC) to enable high-quality tourism investment and lifestyle-focused residential opportunities in King Abdullah Economic City (KAEC). The parties signed the a
About this update from Hovnanian Enterprises, Inc.
[{"type":"image","alt":"Hovnanian Enterprises, Inc.","displaySize":"","headline":null,"caption":"Hovnanian Enterprises, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":88,"url":"https://media.zenfs.com/en/globenewswire.com/52c3beee06943219c76624da19202a15"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/.o1rVq8VGhatxx8J01FDDw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/52c3beee06943219c76624da19202a15","width":300,"height":88}},"lazy":false},{"type":"text","content":"RIYADH, Saudi Arabia, Feb. 03, 2026 (GLOBE NEWSWIRE) -- K. Hovnanian M.E. Investments, LLC (KHME), a subsidiary of Hovnanian Enterprises, Inc. (NYSE: HOV) and the majority shareholder of Al Tahaluf Real Estate Company, CJSC, has signed a Memorandum of Understanding (MoU) with the Tourism Development Fund (TDF) and Emaar, The Economic City (EEC) to enable high-quality tourism investment and lifestyle-focused residential opportunities in King Abdullah Economic City (KAEC). The parties signed the agreement during the Future Real Estate Forum 2026 in Riyadh.","length":560,"tagName":"p"},{"type":"text","content":"The MoU establishes a strategic framework for collaboration to advance globally competitive tourism, hospitality, and branded residential developments. It brings together KHME’s international experience in mixed-use, residential, and hospitality destinations, TDF’s mandate to accelerate tourism investment, and EEC’s vision for KAEC as a world-class coastal city.","length":364,"tagName":"p"},{"type":"text","content":"The partnership will initially focus on a landmark development directly located on the Red Sea beaches and the Marina Canal within KAEC. Envisioned as a signature coastal destination, the project will feature a collection of branded private residences, two planned five-star hotels, and a central beach club, wellness and spa center serving as the hub of the community. This hub will bring together residents, tourists, and visitors through lifestyle amenities, leisure programming, and hospitality-driven experiences. The site represents one of the most iconic waterfront locations in KAEC and is positioned to become one of the most sought-after lifestyle and investment destinations in the Kingdom.","length":706,"tagName":"p"},{"type":"text","content":"Under the MoU, the parties w...