Saudi travel and tourism company Seera Group
said on Thursday that it has entered into a master hotels development agreement with real estate developer Kaden Investment
to manage and develop hotels in various projects developed by Kaden Investment throughout Saudi Arabia.
Kaden's portfolio comprises of Riyadh Front and The Logistics Park in Riyadh.
Seera Group said in a statement that the first hotel will be launched at the Riyadh Front development.
Riyadh Front consists of business park hosting global and local companies like KPMG, Raytheon, SAMI, Noon, and others, and a shopping centre that combines local and international retail brands.
The statement said the hotel would be surrounded by projects by Roshn, a developer backed by Saudi Arabia’s sovereign Public Investment Fund
(PIF), and the Riyadh Front Exposition and Conference Center (RFECC), the Kingdom's largest exhibition and conference centre.
Further details about the hotel project weren't disclosed.
(Writing by SA Kader; Editing by Anoop Menon)
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