King Abdullah Financial District awards hotel project contract
RIYADH, February 14, 2024
King Abdullah Financial District Development & Management Company has signed up a joint venture of Saudi Constructioneers (Saudico) and fit-out unit of UAE group Alec for its new hospitality destination - a 16-storey hotel - coming up within its mega development in Saudi Arabia.
Located in the heart of Riyadh, King Abdullah Financial District is a premier business and lifestyle destination that epitomises the core values of Vision 2030.
LW, a leading global firm that has developed over 300 hospitality projects from the ground up, has designed the interiors of the property. The 210-key facility will have a total built-up area (BUA) of 26,500 sq m.
As per the deal, Saudico-Alec Fitout JV will be responsible for all aspects of fitout design completion and implementation including civil and structural works, furnishings, MEP, sanitaryware & accessories, lift interiors, kitchen and laundry equipment, and certain landscaping, hardscaping and facade works.
The announcement comes shortly after the Saudico-Alec Fitout JV's successful completion of the iconic Diriyah Gate Visitor Centre in Saudi Arabia which serves as an immersive and ultra-high luxury hospitality and exhibition venue, offering business leaders, tourists, social media influencers and prospective investors a dynamic showcase of the remarkable experiences and investment opportunities within the overall Diriyah Gate Development site.
"With a targeted tourist inflow of 150 million visitors by 2030, Saudi Arabia is all set to showcase its authentic history and hospitality through world class destinations featuring the finest of facilities and experiences, a fact that is front and centre to KAFD’s unique lifestyle offering. With yet another state-of-the-art marvel emerging in our iconic district, it was only natural for us to partner with Saudico and Alec Fitout given their track record in delivering aesthetically pleasing and sustainable projects across the Kingdom and the GCC," said Gautam Sashittal, Chief Executive Officer at KAFD DMC, today (February 14) after signing the deal with Saudico CEO Bashir Al Azem.
Also in attendance were top executives from both firms in the joint venture, including Kadir Karademir, Chief Operations Officer at Saudico and Laurent Farge, Managing Director, at Alec Fitout.
"This is a testament to the expertise we have developed in reliably delivering awe-inspiring, high-quality fitouts within tight timeframes, and on budget. We look forward to working closely with our partners - Saudico - to ensure this milestone hospitality project is another highlight in this prestigious business district," remarked Farge.
On the contract win, Karademir said: "The incredible opportunities being created by our Kingdom’s forward-focused leadership warrant the deployment of top talent, and the implementation of the industry’s highest standards and best practices. Our synergy with Alec Fitout ensures that no matter how ambitious the project, our clients can have confidence that their vision will be realised beyond their expectations," he added.-TradeArabia News Service
