Seera Group, one of the largest travel and tourism company in the region and Kaden Investment, Saudi Arabia’s largest real estate developer, have announced the signing of a master hotels development agreement – a joint venture to manage and develop hotels in various projects developed by Kaden Investment throughout the kingdom.
The first hotel will be launched at Riyadh Front, a mega-development set to transform the future of business and leisure in Riyadh, across the Kingdom, and beyond, it added.
Bringing to the table 40 years of travel and tourism legacy and drawing on regional expertise in developing and operating hotels, Seera Group will offer its guests the quality mid-market hotel accommodations they need, backed by Choice’s global hotel platform and brand reputation for value and service. Kaden Investment is a real-estate developer with a track record of delivering long-term projects, notably Riyadh Front and The Logistics Park.
The new hotel will be located 10 minutes from King Khalid International Airport and it is within the Business Area of Riyadh Front which is a major business park for local and international organizations, and the Shopping Area, a one-stop shopping, dining, and entertainment destination.
The hotel is surrounded by other big projects, an underdevelopment neighborhood by Roshn, a national community developer backed by Saudi Arabia’s sovereign Public Investment Fund (PIF), which is led by the Crown Prince HRH Mohammed bin Salman bin Abdulaziz Al Saud. It is also strategically located near the Riyadh Front Exposition and Conference Center (RFECC), the Kingdom’s largest exhibition and conference center, which hosts national, regional, and international conferences, meetings, and exhibitions.
Majed Alnefaie, CEO of Seera Group, said: “Simplifying the business travel experience, and making it an enjoyable and rewarding one, has always been one of our goals. Riyadh’s business hub market is full of potential – we have plenty of managerial experience and local resources in the domestic and international market, while Kaden Investments is an outstanding establishment in hotel development locally. We look forward to this partnership to tap into the Kingdom’s business market and bring new energy to the country and global tourism.” Abdullah Al-Fassam, CEO, Kaden Investment, said: “Riyadh Front is one of the newest additions to Saudi Arabia’s expanding commercial real estate, developed and managed by co-signee Kaden Investment. This cooperation with Seera will create hotels with smart and innovative architecture, as well as cutting-edge infrastructure and a one-of-a-kind experience.”