NEOM announces new hotel with Raffles Hotels & Resorts in Trojena

Raffles Trojena aims to provide guests with opportunities to engage with the region's natural beauty through its ring-shaped architecture.
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Updated 19 February 2024
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NEOM announces new hotel with Raffles Hotels & Resorts in Trojena

RIYADH: Saudi Arabia’s mountainside hospitality is poised for enhancement with the introduction of a luxury resort in Trojena, a hilly destination within NEOM. 

The Kingdom's $500 billion giga-project is set to unveil a 105-key hotel with Raffles Hotels & Resorts in northwestern Saudi Arabia. 

Scheduled to open in 2027, Raffles Trojena aims to provide guests with opportunities to engage with the region's natural beauty through its ring-shaped architecture.

Omer Acar, CEO of Raffles Hotels & Resorts, said: “We are thrilled to collaborate with NEOM on the creation of Raffles Trojena, an architecturally significant resort that will showcase the very best in modern luxury hospitality and underscores Raffles’ commitment to growing in the Kingdom of Saudi Arabia.”  

He added: “Trojena is set to be a destination unlike any other, and this mountainside retreat continues the Raffles legacy of growing in the world’s most compelling locales, providing our guests with an opportunity to ignite their passions through highly personalized service and experiences.”   

The company said the property will embody the brand’s distinctive characteristics, encompassing its renowned butler service, diverse dining experiences, and a dedicated focus on local arts and culture. 

It joins as the latest hospitality collaborator within NEOM’s Hotel Division, located in the Discover cluster — a segment of Trojena dedicated to natural exploration and featuring attractions such as the Discovery Tower, the Observatory, and the Cosmic Gate. 

“Raffles Trojena will serve as a beacon of luxury in Saudi Arabia’s first year-round mountain and adventure destination. A place of epic natural majesty combined with immersive and extraordinary experiences - from world-class sporting events, skiing and hiking to Arabian culinary and stargazing adventures that embrace the mountain spirit.” Philip Gullett, executive director, and Trojena region head, said. 


Stc posts record $20.7b revenue as net profit rises 12.5% 

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Stc posts record $20.7b revenue as net profit rises 12.5% 

RIYADH: Stc Group announced its consolidated financial results for 2025, recording the highest revenue in its history at SR77.8 billion ($20.7 billion), up 2.5 percent from the previous year. 

Net profit increased 12.5 percent after excluding non-recurring items, reflecting the strength of the group’s business model and the continued execution of its sustainable growth strategy. 

The group said gross profit rose to SR37.7 billion, while operating profit reached SR14.4 billion. Earnings before interest, taxes, depreciation, amortization and zakat totaled approximately SR24.5 billion, marking 6.1 percent growth after excluding non-recurring items, driven by improved operational efficiency and disciplined cost and capital expenditure management. 

The company announced a dividend of SR0.55 per share for the fourth quarter of 2025 in line with its approved dividend policy. 

stc Group emphasized its commitment to developing employee capabilities and skills. Over the past year, it reported qualitative progress in talent development through programs such as Partner Development, Job Attachment and the stc Academy. 

The group also sponsored the Human Capability Initiative conference, where it launched a public training platform aimed at equipping national talent with skills aligned with future labor market needs. The initiative underscores its commitment to building digital capabilities in the Kingdom and strengthening national competitiveness. 

stc plays a key role in supporting major international events and religious occasions such as Hajj and Umrah. It continues to support national forums and major events through a reliable digital infrastructure that enhances national identity and elevates the readiness of vital sectors with high efficiency.    

The group said its connectivity solutions and digital services meet international standards, contributing to the Kingdom’s position as a leading destination across sectors and reinforcing stc’s role as a regional digital enabler. 

CEO Olayan bin Mohammed Alwetaid said the results demonstrate the group’s ability to achieve sustainable profit growth while diversifying income sources and strengthening digital infrastructure. 

He said the company continues expanding its network to reach more than 10,800 5G sites and 3.75 million homes served by fiber, in addition to conducting the first regional trial in the 7 GHz band in preparation for 6G technologies.  

The group expanded STC Bank to more than 8 million customers and signed strategic partnerships to establish AI-focused data centers with capacity of up to 1 gigawatt. It also completed strategic digital infrastructure agreements worth billions and issued $2 billion in sukuk that were more than four times oversubscribed.  

In sustainability, the group’s MSCI rating rose to AA and it received a five-star EFQM certificate. It maintained its position as the strongest brand in the Middle East for the sixth consecutive year. 

According to the Brand Finance 2026 report, stc ranked as the strongest brand in the Middle East, third globally among telecommunications brands, and ninth in global telecom brand value, placing it among the world’s top ten telecom companies by brand strength.