NEOM signs deal with Marriott International to open three hotels by 2024 

Marriot’s Luxury Collection will offer a beach resort with 70 luxury rooms and suites (Shutterstock)
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Updated 08 March 2023
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NEOM signs deal with Marriott International to open three hotels by 2024 

RIYADH: Saudi Arabia’s $500 billion giga-project NEOM has signed an agreement with Marriott International Inc. to open three hotels in Sindalah, NEOM’s first luxury island. 

The deal includes the establishment of the Kingdoms’s first Autograph Collection Hotel property by Marriott as well as two Luxury Collection properties that are expected to open in 2024. 

The first Luxury Collection hotel will offer a beach resort with 70 luxury rooms and suites including villas with private pools that range from one to four-bedroom residences. 

The second property is set to be an all-suite hotel with 115 one to three-bedroom suites and will be located at the center of the retail and marina district in Sindalah. 

“NEOM is one of the most highly anticipated developments in the world and we look forward to working with its team to develop these three exciting properties,” said Jerome Briet, chief development officer, Europe, Middle East, and Africa, Marriott International.   

Marriot’s Autograph Collection hotel in Sindalah plans to include 66 rooms and suites, one and two-bedroom villas, dining options, a kids club, and a spa. 

“We are thrilled by the prospect of working together and look forward to building a hospitality experience that captures the spirit of Sindalah’s year-long appeal while creating unforgettable memories for our guests,” added Chris Newman, executive director of hotel development at NEOM 

Sindalah is set to be the first to welcome guests of a group of islands being developed in NEOM and aims to be among the most appealing destinations on the Red Sea. 

The island extends across 840,000 sq. m and is a 17-hour sail from the Mediterranean including an 86-berth marina for yachts up to 75 m. The island will also include over 400 premium hotel rooms and 300 suites. 

“The Luxury Collection and Autograph Collection Hotels properties will express their unique personality inspired by the exceptional natural landscapes of NEOM. We continue to see growth opportunities for our brand portfolio within the destination and Saudi Arabia overall,” Briet added. 


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.