Apr 30 2012
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Al Khozama Announces $140 Million Investment in Saudi Arabia Hospitality Projects
-Leading Hospitality & Commercial Property Developer Invests in New Hotels and Major Refurbishments to Boost Tourism in Kingdom
RIYADH,SAUDI ARABIA, 30th April 2012: More than $140 million (SAR 500 million) is being allocated to ambitious hospitality projects in Saudi Arabia by leading luxury commercial property development, investment and management company, Al Khozama Management Company . With extensive developments already established in the Kingdom, Al Khozama is further strengthening its leadership position with construction of new hotel projects and refurbishment of existing luxury properties in Riyadh.
Making the announcement during this year's Arabian Travel Market (ATM) taking place in Dubai from 30th April to 3rd May 2012, Al Khozama outlined projects in the company's pipeline. These include the conversion of the Al Khozama Center in Riyadh into a 4-star deluxe Hotel Al Khozama to replace the existing Hotel Al Khozama which has been in operation since 1978, and which has enjoyed unrivalled loyalty from guests over the years.
Work on the new project will begin in Q4 of 2012, with the opening of the new property scheduled for the last quarter of 2014. The new Hotel Al Khozama will comprise 215 rooms and suites, an all-day dining restaurant and a state-of-the-art fitness center.
This will be followed by the introduction of innovative new concepts in the hotel's award winning fine dining restaurants, The Globe and Cristal.
H.H. Prince Bandar Bin Saud Bin Khalid, Chairman of Al Khozama Management Company , said: "Our investment in new and existing hotel projects in the Kingdom demonstrates Al Khozama 's continued commitment to the growth of Saudi Arabia's hospitality industry. Our strategy remains focused on setting new benchmarks within the sector and the international awards for excellence we continue to receive for our properties are testimony to our leading position in the Kingdom of Saudi Arabia and beyond. "
In addition to Al Khozama 's Riyadh properties, the company also operates a number of hotels in other Saudi Arabian cities, including the Al Shohada Hotel in the holy city of Makkah, the Hotel Al Khozama - Madinah and the Al Faisaliah Hotel Madinah, in the Kingdom's second holy city. The company is scheduled to announce a new hotel in Jeddah soon.
Al Khozama 's progressive approach has been highlighted in the company's extensive rebranding exercise, with the recent unveiling of a new logo that marries its strong heritage with a contemporary, slick design, with inspiration from the desert flower Al Khozama .
Al Khozama is participating at the Arabian Travel Market 2012, from 30th April to 3rd May 2012, at Stand No. HC 4050, Sheikh Saeed Hall # 3, at the Dubai International Convention & Exhibition Centre.
Since 1995 Al Khozama Management Company has been the frontrunner in the development and management of luxurious commercial properties in key locations across the Kingdom of Saudi Arabia .
Combining smart investment in prime properties, outstanding vision for tomorrow's trends and an innovative approach to management, Al Khozama is consistently establishing the benchmark in both operational and aesthetic standards.
AKMC boasts a diversified business model that covers the ownership, investment and management of properties in the hospitality, retail and office sectors and is the only company in the hospitality sector that has such a wide-ranging portfolio - from leisure resorts and city center business hotels, to those in religiously significant locations of Makkah and Al Madina Al Munawarra.
Al Khozama ranks in the top 100 companies in the Kingdom of Saudi Arabia. - For more information visit www.akmc.com.sa
© Press Release 2012
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