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Hilton hotels set for Saudi Arabia's $3.5bn The Avenues – Riyadh

Developer Shumoul Holding Co has entered an agreement to build and operate four Hilton properties at the upcoming project

Four Hilton-branded hotels are being developed as part of The Avenues – Riyadh in Saudi Arabia.
© Shomoul Holding Co
Four Hilton-branded hotels are being developed as part of The Avenues – Riyadh in Saudi Arabia.

American hotel company Hilton and Saudi Arabia's Shomoul Holding Company have signed a contract to develop and operate four hotels at the $3.5bn (SAR13bn) The Avenues – Riyadh.

Among the four Hilton hotels to be operated at project are a 350-key Waldorf Astoria; a 400-key Conrad; a 500-room Hilton Garden Inn; and a 150-room Canopy by Hilton hotel each. 

The Avenues – Riyadh, one of Saudi Arabia's top construction projects this year, will include space for 1,300 stores, in addition to five multi-purpose towers consisting of hotels, exhibition, conference halls, residential apartments, offices, and medical facilities.

Shumoul is a subsidiary of Mabanee Kuwait, a developer that is listed on Kuwait's bourse. According to Mabanee's website, The Avenues – Riyadh is due to be inaugurated in 2022. 

Commenting on the agreement with Hilton, Mohammed A Alshaya, chairman of Shomoul and Mabanee, said: “Having four of Hilton’s brands as part of [The Avenues – Riyadh] will create an incredible destination for shoppers and travellers across the region and the world.”

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Construction Week - Issue 749
Sep 15, 2019