KEC to Develop 5,000 Hotel Rooms in Madinah Project
These hotels will add a total of 5,142 keys to the mega Madinah development, said KEC in its filing to Saudi bourse Tadawul.
Knowledge Economic City Company (KEC) has announced that one of its key subsidiaries, Al Gharaa International Real Estate Development Company, has entered into deals with global hospitality groups – Hilton, Marriott International, InterContinental Hotel Group and Radisson – as well as Southeast Asia’s largest privately-owned hotel management group Archipelago to develop a range of hotels within the first phase of its ambitious Islamic World District Project.
Spanning over a 900,000sq m area, the Islamic World District project will offer residential and hospitality services to enrich the religious and cultural experiences of visitors, along with Umrah and Hajj pilgrims, during their visit to Madinah. It will be directly connected to the main mosque, the Haramain High Speed Railway and the Prince Mohammad bin Abdulaziz International Airport in Madinah.
Upon completion, the project will boast around 18,000 hotel rooms along with eco-friendly means of transportation. In addition, it will offer entertainment for families, with live events, theatres, exhibitions and festivals. These hotels will be developed through a real estate investment fund being established in the southern part of the city, it stated.