Hilton and Shomoul Holding Company have formalised an agreement for four new properties that are to be located in The Avenues – Riyadh, one of Saudi Arabia’s largest mixed-use development projects, which is currently under development.
The Avenues – Riyadh, worth $3.4 billion, will comprise a monumental mall boasting over 1,300 shops and five multi-purpose towers consisting of hotels, exhibition facilities, conference halls, residential apartments, offices and medical facilities. The project is expected to reach completion in 2023.
Following its agreement with Shomoul Holding Company, Hilton will operate four of its well-known brands at The Avenues – Riyadh, including a 350-key Waldorf Astoria and a 400-key Conrad, as well as a 500-room Hilton Garden Inn and a 150-room Canopy by Hilton, which will represent the first Canopy by Hilton-branded property in the Middle East.
Thrilled with the news, chairman, Shomoul Holding Company and Mabanee, Mohammed A. Alshaya declared: “I am very proud to once again partner with Hilton at another of our ground-breaking Avenues projects in the region. The Avenues – Riyadh is a signature development offering a unique and ultimate lifestyle destination in the region and will be the largest in our expansion portfolio. We believe that having four of Hilton’s world-class brands as part of the towers will create an incredible destination for shoppers and travellers across the region and from around the world in Riyadh.”
Also commenting was president and CEO, Hilton, Chris Nassetta: “The Avenues – Riyadh is an incredible opportunity for Hilton to bring four of our industry-leading brands to one development project for the very first time. I am especially proud that we are signing this unique project in our 100th year – our most dynamic year yet.”
Nassetta continued: “Mohammed A. Alshaya and his team have been fantastic partners in this project, and we look forward to doing our part to contribute to the Kingdom of Saudi Arabia’s vision for tourism.”
The news reinforces Shomoul Holding Company’s blossoming partnership with Hilton, which already entails two hotels within the new expansion of The Avenues – Kuwait, including a five-star Waldorf Astoria hotel and a four-star Hilton Garden Inn property, as well as Hilton Garden Inn at The Avenues – Bahrain.