Hilton and Shomoul Holding Company have announced the signing of an agreement to develop and operate four hotels in The Avenues – Riyadh, the largest mixed-use development project in Saudi Arabia.
The development will include one of the world’s largest malls, with a leasable area of about 400,000 sq m housing more than 1,300 stores.
The SR13 billion ($3.4 billion) project will also include five multi-purpose towers consisting of hotels, exhibition, conference halls, residential apartments, offices and medical facilities.
When completed in 2023, the project aims to embody the success of The Avenues – Kuwait and will create approximately 40,000 job opportunities.
Hilton will operate four of its brands at The Avenues – Riyadh, including a 350-room Waldorf Astoria, a 400-room Conrad, a 500-room Hilton Garden Inn, and a 150-room Canopy by Hilton, the first of Hilton’s lifestyle Canopy brand in the Middle East.
Mohammed A Alshaya, chairman of Shomoul and Mabanee, said: “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.”
“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,” added Chris Nassetta, president and CEO of Hilton.
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