Dur Hospitality plans to open Rixos Jeddah Resort by 2023

The resort would feature vast landscapes, sandy beaches with breathtaking views, a marina, and a plaza overlooking the red Sea. (Shutterstock)
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Updated 28 May 2022
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Dur Hospitality plans to open Rixos Jeddah Resort by 2023

RIYADH: Saudi Arabia’s Dur Hospitality Co. has purchased Makarem Al Nakheel Village & Resort for $80 million and plans to convert it into the first Rixos resort in Jeddah, said a top executive.

In an interview with Arab News at the Future Hospitality Summit, Hassan Ahdab, president of hotel operations at Dur Hospitality, said that the all-inclusive resort will be open to visitors in one year.

“We plan to have a grand opening of the Rixos Jeddah Resort by the mid or the third quarter of 2023,” said Ahdab.

According to a press statement, the project will restyle and enhance all facilities, including 174 rooms, 73 furnished residential villas and two restaurants, among other amenities.




Hassan Ahdab, Dur Hospitality's president for hotel operations, in an interview with Arab News on the sidelines of the Future Hospitality Summit in Riyadh. (AN)

The statement added that the resort would also feature vast green landscapes, sandy beaches with breathtaking views, a marina, and a plaza overlooking the Red Sea.

The hospitality major has also roped in Accor to develop and manage the property.

“We were the first in Saudi Arabia to own, operate, manage, franchise, and even create brands for hotels,” said Ahdab.

The company was instrumental in bringing Marriott International into the Kingdom, the first Marriott outside the USA.

“Our journey started by training and educating our people on the international standards while keeping the Saudi hospitality as part of the DNA of our services,” he said.

He further said: “Dur Hospitality’s main investment is Makkah’s Makarem Ajyad Makkah Hotel. Makarem is a homegrown brand with international standards, but it still carries a lot of Islamic flavors that pilgrims can appreciate.”


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.