His Royal Highness Prince Salman bin Sultan bin Abdulaziz, Emir of Madinah, sponsored the inauguration ceremony of the Al Olaya residential project in Knowledge Economic City in Madinah, with an investment value of 2.6 billion riyals.
His Royal Highness Prince Salman bin Sultan sponsored the inauguration ceremony of the Al Olaya residential project. H.H. Prince Salman bin Sultan was briefed on the Al Olaya residential project, which is an integrated mixed-use complex that combines housing, services, commercial and hospitality facilities, and constitutes a qualitative addition to the Knowledge Economic City and paves the way for the beginning of a new phase in the system of development and development witnessed by Medina.
During the ceremony, the president of the Al Olaya project delivered a speech to the audience. During the ceremony, Amin Mohammed Shaker, Chairman of the Board of Directors of Knowledge Economic City, delivered a speech in which he emphasized the importance of the project and its strategic location in Medina and its role in meeting the needs of the city's residents and visitors, considering the project an important step towards realizing the vision of Knowledge Economic City and the future of urban life and the beginning of a series of future projects in Knowledge Economic City.
He pointed out that the project is a qualitative addition to Knowledge Economic City. He pointed out that the project aims to meet the growing demand for high-quality mixed-use projects, in line with the urban expansion and economic transformation witnessed by Medina, as it blends modern design and luxury to achieve an integrated and sustainable lifestyle, indicating that the Al Olaya project and the projects of the Knowledge Economic City aim to provide mixed-use residential neighborhoods that adapt to the increase in the number of visitors by 2030.
The Chairman of the Board of Directors of the Knowledge Economic City presented the project as an important step towards achieving the vision of the Knowledge Economic City and the future of urban life and the beginning of a series of future projects in the Knowledge Economic City.
<The Chairman of KEC's Board of Directors extended his thanks and appreciation to His Highness the Emir of Madinah for sponsoring the inauguration ceremony of the project, noting that this reflects the support and attention of the wise leadership to the initiatives that contribute to the realization of the Kingdom's Vision 2030.
His Highness and the attendees watched a visual presentation explaining KEC's vision and the objectives of the mixed-use project, which is characterized by its proximity to Prince Mohammed bin Abdulaziz International Airport and the Haramain Express train, and includes 1082 residential units in addition to 148 hotel rooms in the Hyatt Centric Hotel, 432 rooms in Hyatt House serviced apartments, and 432 rooms in hotel apartments owned by KEC, commercial centers, a nursery and an international school.
His Highness the Emir of Madinah witnessed the launching ceremony of the project. <H.H. the Emir of Madinah witnessed the signing ceremony of a bilateral strategic agreement between KIZAD and Hyatt Hotels Group to manage and operate the Hyatt Centric Hotel and Hyatt House Hotel Apartments within the Al Olaya project, which aims to provide world-class hotel services that meet the needs of guests and visitors and ensure a distinctive hospitality experience. The Hyatt Centric Hotel and Hyatt House Hotel Apartments include multiple facilities that combine modern style and recreation.“
The Hyatt Centric Hotel and Hyatt House Hotel Apartments are located within the Aliyah project.
