Diriyah Co. partners with Swiss-based Aman to unveil 2 hotels in Saudi Arabia

The two new hotels will have almost 200 rooms between them (Shutterstock)
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Updated 27 April 2023
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Diriyah Co. partners with Swiss-based Aman to unveil 2 hotels in Saudi Arabia

RIYADH: In a bid to boost tourism in Saudi Arabia, Diriyah Co., formerly known as Diriyah Gate Development Authority, has joined hands with Switzerland-based hospitality firm Aman Group to unveil two new hotels in the Kingdom. 

Aman Wadi Safar will be located near Riyadh, and will feature 78 rooms, 34 branded residences, and amenities such as a spa and dining outlets, according to a press release. 

Janu Diriyah, a hotel from Aman’s sister brand Janu, will be located near the UNESCO World Heritage Site of Turaif. This hotel will have 120 rooms, a wellness center and dining outlets. 

“We are very proud to launch Diriyah’s partnership with Aman, delivering two outstanding projects in Wadi Safar and Diriyah. Diriyah, the City of Earth, will be the world’s largest cultural and heritage destination and these projects will enhance our luxury offerings to guests who come to explore our identity,” said Jerry Inzerillo, group CEO of Diriyah Co. 

He added: “Aman Group have developed these projects by harnessing our unique setting at the heart of 300 years of Saudi history, while embracing our shared future as a city and a community. We are delighted to celebrate the beginning of our journey together.” 

Vlad Doronin, chairman and CEO of Aman Group, said this announcement is once again affirming the commitment of the company toward Saudi Arabia. 

“Aman Wadi Safar and Janu Diriyah will build upon Aman Group’s existing pipeline of properties in Saudi Arabia and reinforce our strategic vision to offer our clients the opportunity to experience the breadth of this fascinating, previously undiscovered country with journeys that encompass city experiences, remote desert landscapes and UNESCO World Heritage Sites,” added Doronin. 


Closing Bell: TASI sheds points to close at 10,416 

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Closing Bell: TASI sheds points to close at 10,416 

RIYADH: Saudi equities closed sharply lower on Sunday, with the Tadawul All Share Index falling 109.44 points, or 1.04 percent, to 10,416.65.  

Losses were mirrored across other benchmarks, with the MT30 Index declining 11.31 points, or 0.81 percent, to 1,378.35, while the Nomu Parallel Market Index dropped 186.91 points, or 0.80 percent, to 23,244.02.   

Trading activity saw 136 million shares change hands, with a total value of SR2.40 billion ($640 million). 

On the stock level, gains were led by Flynas Co., which closed at SR64.10, up SR3.10, or 5.08 percent.  

Arabian Mining Co. ended the session at SR88, rising SR4, or 4.76 percent, while Saudi Industrial Export Co. settled at SR2.20, gaining SR0.10, or 4.76 percent. 

Raoom Trading Co. also advanced, closing at SR62.75, up SR1.70, or 2.78 percent, and Saudi Cable Co. finished higher at SR148, adding SR3.40, or 2.35 percent, bucking the broader market weakness.  

On the losing side, Mutakamelah Cooperative Insurance Co. posted the steepest decline, closing at SR10.54, down SR0.96, or 8.35 percent. 

Wafrah Co. for Industry and Development followed, ending at SR19.50, falling SR1.50, or 7.14 percent. 

Shares of Consolidated Grunenfelder Saady Holding Co. retreated sharply, closing at SR8.92, down SR0.68, or 7.08 percent, while Leejam Sports Co. slid to SR94, shedding SR6.80, or 6.75 percent.  

Saudi Research and Media Group Co. also ended the session notably lower, closing at SR127, down SR9, or 6.62 percent.  

On the announcements front, Naqi Water Co. said it has signed an addendum to its previously disclosed contract to purchase a bottled drinking water production line for its new factory in Riyadh, expanding the project scope to include two independent production lines instead of one. 

The amendment increases total production capacity to 120,000 bottles per hour, up 20 percent from the previously targeted capacity, enhancing operational flexibility, reliability, and production stability.  

The total contract value has been repriced to €9.58 million ($11.28 million), compared with the originally announced €8.54 million, reflecting the expanded scope and the adoption of innovative packaging solutions aimed at reducing plastic usage and lowering production costs. 

The company said the financial impact is expected to commence in the fourth quarter of 2026. 

Naqi Water Co.’s shares closed at SR57.40, declining SR1.60, or 2.71 percent, following the disclosure.