The Avenues is the mega project in Saudi Arabia
Agreements were signed for Saudi Arabia’s largest mixed use project. Hilton and the Shomoul Holding Company signed four hotel development and operation agreements in Riyadh.
The Avenues, the largest mixed use project in Saudi Arabia, will include the largest shopping center with more than 1,300 stores. In addition, approximately 400,000 square meters of housing can be rented.
The $ 3.4 billion project will also include five mixed use towers of hotels, exhibitions, conference halls, residential apartments, offices and medical facilities. The project will be completed in 2023.
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.”
Chris Nassetta, president and CEO of Hilton, said, “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.”
Source: Arabian Business