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The result of the deal is a joint venture that will manage and set up hotels in various projects by Kaden Investment throughout the country
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The first of these hotels will be launched at the Riyadh Front business park
Travel and tourism company Seera Group and Kaden Investment have signed an agreement to develop hotels all across Saudi Arabia, said local reports on Sunday, July 4.
The result of the deal is a joint venture of both Saudi-based firms to manage and develop hotels in various projects developed by Kaden Investment throughout the country, said the reports.
The first of these hotels will be launched at the Riyadh Front business park, said the reports while quoting a statement.
It will be located 10 minutes from the King Khalid International Airport and within the Business Area of Riyadh Front.
It will also be nearby Riyadh Front Exposition and Conference Center, besides project that are under development by community-builder Roshn.
The reports quoted Seera Group CEO Majed Alnefaie as saying: “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.”
Kaden Investment CEO Abdullah Al-Fassam was quoted by the reports as saying: “Riyadh Front is one of the newest additions to Saudi Arabia’s expanding commercial real estate, developed and managed by co-signee Kaden Investment. We have full confidence that the first hotel will be a success story to tell. 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.”