Hilton and Shomoul Holding Company have signed an agreement to develop and operate four hotels in The Avenues – Riyadh, the largest mixed-use development project in the Kingdom of Saudi Arabia, which will be completed in 2023.
Hilton, whose largest pipeline in the Middle East is in the Kingdom, 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.
The development will include one of the world’s largest malls, with a leasable area of approximately 400,000m2housing more than 1,300 stores. The SAR13bn (US$3.4bn) project will also include five multi-purpose towers consisting of hotels, exhibition, conference halls, residential apartments, offices and medical facilities.
The announcement reinforces the owner's growing partnership with Hilton, which already includes two hotels within the new expansion of The Avenues – Kuwait, namely the five-star Waldorf Astoria and the four-star Hilton Garden Inn, in addition to the Hilton Garden Inn in The Avenues – Bahrain.
The Avenues – Riyadh is located at the entry point of the capital city, overlooking the intersection between King Salman and King Fahad Roads, and just a few minutes away from King Khalid International Airport. All four properties will participate in Hilton Honors, the company’s guest loyalty programme.
Shomoul Holding is a joint venture between Kuwait's real estate company Mabanee, Saudi-based Al Fozan Group, and Kuwait's Alshaya Group. The current portfolio of the company includes two major projects in Saudi Arabia, namely, The Avenues-Riyadh and The Avenues-Khobar, which are inspired by The Avenues- Kuwait.