KING ABDULLAH ECONOMIC CITY
meeting space for events and confer- ences. Four Points by Sheraton Dhahran, situated between the King Fahd Interna- tional Airport and the Kingdom of Bahrain, is expected to open in early 2014. With 236 comfortable rooms and suites, the hotel will offer more than 1,100 square metres of space for meetings and conferences. Marriott International is in the process of developing nine new properties in the Kingdom across various Marriott Inter- national brands. The brands include The Ritz-Carlton Residences, Marriott Hotels & Resorts, Marriott Executive Apartments and Courtyard by Marriott and the hotels are located in Riyadh, Jeddah, Dammam and Jubail. Yet to be completed are the 80-unit The Ritz-Carlton Residences, Riyadh, located on King Fahad Road, the Dammam Marriott Hotel and Mar- riott Executive Apartments Damman. Other Marriott developments include the 311-room Courtyard by Marriott and 85-unit Marriott Executive Apart- ments Mall of Arabia in Jeddah. The latter is located on Al Madinah Road, the main thoroughfare connecting Jeddah International Airport to Jeddah's central business district and downtown area. Further extending the Marriott portfolio in the Kingdom is The Courtyard by Mar- riott Jeddah King Abdullah Street, the Courtyard by Marriott Olaya Street Riyadh and the Courtyard by Marriott Jubail. Hilton Hotels Corporation has entered into a non-exclusive Strategic Develop- ment Agreement (SDA) with the Abdul- mohsen Al-Hokair Group for Tourism and Development, with the potential to deliver 13 Hilton Garden Inn properties in key locations across Saudi Arabia. By 2014, Hilton and Al Hokair plan to have Hilton Garden Inn hotels in Riyadh, Al Khobar, Dammam, Jubail, King Abdullah Economic City, Taif, Abha, Tabuk, Hail/Buraydah and Yanbu. Hil- ton Garden Inn is a focused-service brand offering affordable rates for the mid-market traveller. The hotels will also feature small meeting rooms. Hilton Hotels currently operates six properties in Saudi Arabia; four Hilton hotels in Jeddah, Makkah and Madi- nah, in addition to The Waldorf-Astoria Collection property, 'Qasr Al Sharq' or 'Palace of the Orient' in Jeddah. Fairmont Hotels & Resorts is to man- age a new 287-room luxury hotel and convention centre in Riyadh. Located just north of the city, the Fairmont Riyadh,
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developments Major
Al Khobar Lakes project is a lake- front development due to complete 2014 for a population of 215,000
Al Wasl is a 1,400-hectare mixed-use community in Riyadh
Jabal Omar project in Mecca also completing in phases over the next couple of years
Jeddah Centre project covering Balad and part of the waterfront
Jeddah Gate is a project of 5,000 homes completing in phases, the first this year (2012)
King Abdullah Economic City (KAEC) is a 168-million-square-metre development in Al Rabegh, north of Jeddah where the first phase completed in 2010 and the last is due is 2020
King Abdullah Financial District, Riyadh is a large-scale business and financial district to be completed in phases over the coming years
Kingdom City project in Jeddah is a 23-million-square-metre development due to complete in phases up to 2022
Knowledge Economic City (KEC) in Al Madinah is a US$7-billion development to attract knowledge-based industries
Riyadh Techno Valley project, comprising largely of research facilities completing over the coming years
Business Gate will be part of a new mixed-use development project compris- ing the hotel, a convention centre and commercial real-estate space that will house multinational corporations as well as regional companies and is sched- uled to open in phases from late 2012. The hotel will feature 287 spacious guest rooms, a selection of dining venues as well as spa and fitness facilities. The convention centre will comprise 4,000 square metres of meeting and function space, including two main ballrooms offering 1,500 square metres each.
FOCUS ON RETAIL
Saudi Arabia is the largest retail market and one of the fastest growing markets for consumer products, in the Middle East. The Al Hokair Group is in charge of one of the largest mall networks, as well as being a leader in the fashion retail market. Its mall management arm, Arabian Centres, has a network of 11 operational malls, managing almost one million square metres of prime retail real estate. Its malls have a combined gross leasable area (GLA) in excess of 700,000 square metres, about 30 percent of the total mall GLA in Saudi Arabia. Now Fawaz Al Hokair plans to develop 12 additional malls by 2014. Coming soon, according to the company, are Haiffa Mall in Jeddah and Makkah Mall in Makkah. The company also wants to open 100 stores on average per year until 2014, through which they expect rev- enues to grow by 12.7 percent annually.
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