AlDyar AlArabiya, a leading real estate developer in Saudi Arabia, has appointed JLL’s Hotels & Hospitality Group as its exclusive hospitality advisor for a landmark hotel project within the Masar masterplan in Makkah.

This appointment will leverage JLL's real time market knowledge and extensive track record in the kingdom to secure optimal contract terms for its new partner.

Under a memorandum of understanding (MoU) signed at Cityscape Global (November 11-14) in Riyadh, JLL will select the most suitable operating partner and negotiate competitive contractual terms for the hotel located at the gateway of the Masar project.

Designed to accommodate the growing number of Makkah visitors from overseas as well as residents from across the kingdom, the hotel features rooms, suites, and serviced apartments, and will be managed by an internationally reputed hotel management company.

This strategic collaboration embodies a shared commitment to creating a world-class hospitality destination in Makkah, aligned with Saudi Arabia's Vision 2030 to increase visitor numbers and enhance the Kingdom’s stature as a premier global tourist destination.

In partnership with AlDyar AlArabiya, JLL will conduct a rigorous evaluation of potential operators to identify the perfect fit for this landmark project.

JLL’s expertise and deep market insights will guide AlDyar AlArabiya through a holistic, strategic approach to ensure a seamless process from setting objectives to successful contract negotiation and execution.

Anchoring a vibrant mixed-use development within Masar, the proposed hotel will offer guests unparalleled convenience and connectivity.

With retail offerings integrated into the project and proximity to both a planned mall and the Haramain Railway Station, guests will have access to shopping, dining, and transportation.

Naif AlAtawi, Managing Director & Chief Executive Officer of AlDyar AlArabiya, said: “We are delighted to partner with JLL for this strategically important project within the Masar masterplan.

“Together, we will adopt a transparent and purpose-driven approach in selecting the project’s operator and a strategy aimed at achieving optimal value.

“AlDyar AlArabiya's new focus on the hospitality sector represents a significant investment step aligned with the company’s strategic vision to maximize the potential of its real estate projects in Masar Makkah, within Alharam.

“The Diyar Alharam project, consisting of 12 residential and hotel towers with a total investment of SAR 8 billion, is part of our commitment to delivering innovative real estate solutions that meet the needs of property owners in Makkah as well as visitors to the Masjid Alharam."

Aboudi Asali, Executive Vice President and Head of Hotels Advisory, MENA at JLL, said: “Partnering with AlDyar AlArabiya on this visionary project within the Masar masterplan is a tremendous opportunity for JLL to bring our deep expertise in the KSA hospitality market to one of the region’s most iconic destinations.

“Our tailored approach to operator selection and contract negotiation will ensure exceptional results, exceeding AlDyar AlArabiya's strategic objectives. 

“We are committed to maximising this asset’s value and supporting Makkah’s growth as it prepares to welcome 30 million pilgrims by 2030, in line with the kingdom’s visionary goals.”

This partnership underscores JLL’s commitment to supporting AlDyar AlArabiya in establishing a benchmark hospitality destination in Makkah and setting a new standard for future developments.

The project will deliver a distinctive, culturally rich guest experience and drive economic growth, create jobs, enhance infrastructure, and leave a sustainable legacy for the community.

JLL’s Hotels & Hospitality Group is one of the most active and experienced advisors in the MENA region. Since 2000, JLL’s hotel valuation, brokerage, asset management and consultancy services have tracked over 10,000 hotel transactions, collected more than 24,000 hotel profit and loss statements, and analysed insights from over 400 operating agreements to provide clients with unmatched market intelligence and strategic guidance. – TradeArabia News Service