Real estateUpdated November 7

Souq7 wins MAPIC’s urban regeneration award.

Souq7 stands on the former Prince Muteb Markets site in Jeddah, which was redeveloped into an integrated destination. Azad Properties developed it as an open-air, mixed-use market destination, and MAPIC 2026 recognized that redevelopment with its Special Jury Award in Urban Regeneration. Arab News reports Souq7 is the first Saudi project to receive a global award of this kind. The award was presented in Cannes, but the change it recognizes happened in Jeddah: a site once known for its markets now serves as a destination built for several uses.

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Coverage started November 5