Rotana signs 5 hotel partnerships with Saudi real estate developer Memar

Guy Hutchinson, CEO of Rotana (AN)
Short Url
Updated 11 May 2023
Follow

Rotana signs 5 hotel partnerships with Saudi real estate developer Memar

RIYADH: In an effort to expand its hospitality portfolio in Saudi Arabia, a top official of hotel group Rotana announced five partnerships with the real estate development company Memar. 

In an exclusive interview with Arab News on the sideline of the Future Hospitality Summit in Riyadh on May 9, Guy Hutchinson, CEO of Rotana, said the additional rooms in Riyadh will increase Rotana’s portfolio by 618 keys. 

This is part of the company’s goal to reach 6,000 rooms over the following four years it operates across the Kingdom. 

Hutchinson said the projects are in various stages of completion, one is an existing property that they will almost instantly take over. 

“The other four are under construction and they’ll come into play at different points in time. But the first three or four will be there within 15 to 18 months,” the CEO said. 

Four of the hotels will be under the “Edge by Rotana” brand, while “Rayhaan by Rotana” will be the fifth.

Hutchinson said: “The Rayhaan is a four-star property, a little bit more upmarket. It’s got banqueting facilities for weddings and events. And the Edge properties are more sort of a three- or four-star space, or a little bit more contemporary, a little bit more interesting, and it’s going to be very much that corporate traveler, and then for anybody who’s spending a weekend in Riyadh. But it’s going to be very business-focused,” he further explained. 

Hutchinson also stated that they will have projects coming up in Al-Baha, a city located in the Hejaz region of western Saudi Arabia. 

“We have a pipeline today of about eight hotels that are coming up in the Kingdom and we see that’s going to accelerate. We signed five at the beginning of this year, we’re going to see more and more signings as we go. The Kingdom is just really growing in terms of hospitality,” he continued. 

Hutchinson said that local talent contributes to the growth of the Saudi Vision 2030 and that it fuels this growth. 

“We have about 50 to 53 Saudi nationals in management development programs. We see this as being fundamental to success in the Kingdom. If you’re not developing local talent, if you’re not grooming and growing that local talent, you’re going to fall behind,” the CEO commented.

“The hotel industry globally, historically, has always been seen as a school for hospitality, and that is very much what we see has been part of our responsibility here. We have the opportunity as a company to grow. In return, our contribution is to grow that talent and to grow that national workforce,” he concluded.


Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

Updated 10 March 2026
Follow

Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.

According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.

Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.

A $3 billion metro-connected district

The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters. 

It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.

The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.

Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.

“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation. 

$850 million cultural district package

In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.

The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.

“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.

Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.