PRESS RELEASE

Al Rajhi Investment awards operation of 5 new hotels in Makkah and Riyadh

Suleiman Bin Abdul Aziz Al-Rajhi

RIYADH —  Al Rajhi Investment Company will sign agreements today (Wednesday) for the management and operation of five hotels in Makkah and Riyadh.

The Company of Suleiman Bin Abdul Aziz Al-Rajhi for Real Estate Investments is slated to sign sign the deal to run Tilal Al-Naseem Hotels and Jabal Al-Kaaba in Makkah and hotel suites in Riyadh with a number of international specialized companies in the field of operation and management of hotels.

The CEO of Al-Rajhi Investment Khalid bin Saud said Tilal Al-Naseem Hotels in Makkah will add more than 6,000 rooms in the hotel industry in the Kingdom, and is in line with the government  plans to activate the domestic tourism and the service for pilgrims.

He further said Al Rajhi Investment cooperates with the best international companies to run Tilal Al-Naseem Hotels, which was established on a total area of more than 57,550 square meters to ensure the quality of hotel services.

The signing ceremony also includes an agreement with the French company Accor to run Naseem 1, which includes three hotel facilities which are Novotel Hotel and ibis Styles hotel  and Adagio Hotel Apartments with 2,427 hotel rooms, as well as the agreement with Carlson Rezidor global company to operate and manage the Naseem 2 project which contains the Park Inn by Radisson with a capacity of 461 rooms, as well as an agreement with Millennium Global company to run Naseem 3, which consists of Millennium and Copthorne hotels and has 1,324 rooms, in addition the agreement with StarWood global company to run Naseem 4 which contains the Four Point by Sheraton and has 1,139 hotel room capacity.

The company also is working on completing the establishment of Jabal Al-Kaaba Hotel overlooking on the yard of Makkah, which is built on an area of 1,419 square meters and 17 floors high, featuring 251 rooms and suites, as well as building a 15-floor hotel suite project in Riyadh, which was built on an area of 10,000 square meters, and having 205 luxury hotel units.

The CEO of Al-Rajhi Investment pointed out that all of agreements to run Tilal Al-Naseem Hotels series in the holy capital include a commitment by the global operators to Saudization system and reliance on qualified national cadres through involving them in a specialized training programs, where it is working to sign the agreement with one of the largest and most important universities in the world and in partnership with the General Organization for Technical Training and professional in order for the Saudi youth to acquire better skills that will enable them to gain international experience in the field.

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Sulaiman A. Al-Rajhi Real Estate Investments
P.O. Box 14022, Riyadh 11424
Saudi Arabia
T :+966 (11) 2440303, F :+966 (11) 4716168
Email: info@alrajhiinvestments.com