meet saudiarabia NEW DEVELOPMENTS
to Dammam and Jubail on the Arabian Gulf. The kingdom’s huge investment in railways will boost trade from east to west, marking a huge step forward by Saudi leaders and serving as an example of best prac- tice to other countries in the Middle East. This is just a small part of the invest-
ment going on in the kingdom, which has four international airports: King Khalid International Airport in Riyadh, King Abdulaziz International Airport in Jeddah, King Fahd International Airport in Dammam and Prince Mohammad Bin Abdulaziz International Airport in Madinah. All are receiving multi-million- dollar investment in terminals and runway facilities along with the country’s other major regional airport developments. The domestic flight market will certainly
undergo a revolution in 2013 as Saudi Arabia ends the state monopoly on internal flights. Authorities confirmed 14 foreign carriers have applied for licences to operate flights within the kingdom with Gulf Air and Qatar Airways awarded the first licences. The country is also investing heavily in
its sea ports. The most high-profile is the development of the King Abdullah Economic City (KAEC) Sea Port in Jeddah. The Red Sea port, which is already among the world’s top 10, is being expanded over several phases to ensure it can continue to handle the largest container ships in the world. There are also major sea ports at Jeddah, Dammam, Jubail Industrial, Yanbu, Jizan and Dhiba and each has its own new state investment to ensure it offers the very latest facilities for cargo.
HOTELS ROOMS AND MEETING SPACES In 2012, the world’s hoteliers turned their attentions to Saudi Arabia, attracted by the booming hospitality market. With an eye firmly on religious tourists,
the Swissotel Makkah, overlooking the Ka’aba and the Holy Mosque, has 1,487 rooms prom- ising easy access to the holy Masjid Al-Haram. The biggest hotel in Saudi Arabia opened its doors in July becoming not only the first venture in the country by owners Swissotel Hotels and Resorts, but also its largest.
Saudi-based Jabal Omar Development
Company is planning to open 10 hotel towers in Makkah in 2013 as demand for accommoda- tion increases, especially during the Hajj and Umrah seasons. The company is reportedly developing 2.2 million square metres of land, designed to accommodate as much as 38 hotel towers and the country’s largest shop- ping mall. The project, located near the Holy Mosque, is being carried out in five phases at a cost of SAR20 billion (US$5.3 billion). Another company that has recognised
the growing importance of Makkah’s hospitality sector is Abdul Latif Jameel Real Estate Investment Co (ALJREIC), which is investing SAR10 billion (US$2.7 billion) for Jabal Al Kaaba Development Project. The company’s flagship Anjum Hotels brand is currently building its first property under the project, offering 1,795 rooms and suites and is set to open in the first quarter of 2013. The Jabal Al Kaaba project will also be developed in phases and once completed, is expected to deliver a total of 8,500 new room supplies to Makkah’s hotel market.
5
Elsewhere in Saudi Arabia, major cities
such as Jeddah and Riyadh are also under- going a hotel construction boom. According to property management firm Jones Lang LaSalle (JLL), Riyadh’s hotel supply will reach 13,826 by the end of 2014, while Jeddah’s inven- tory will expand by almost 17 percent from its current stock to 13,200 rooms by 2014. During 2013, more than 1,500 budget hotel
rooms are expected to come online in Saudi Arabia, a study by hospitality consultancy Christie & Co revealed. Operators including Accor, Golden Tulip, HospitalityManagement Holdings (HMH), MÖvenpick, InterContinental Hotels Group (IHG), Marriott and Rotana are looking to either enter the market, or expand. One of the early entrants into the Saudi
market was Accor Middle East, which opened the country’s first Ibis hotel on December 1, 2012. It is also the first three-star budget hotel in Saudi Arabia, situated opposite the iconic Kingdom Centre – the coun- try’s second tallest building. Accor plans to open three more hotels over the next 12 months in Jeddah, Al Khobar and Yanbu.
4 & 5 King Abdullah Economic City 18
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