The signing of the agreement was witnessed on the sidelines of the third day of the TOURISE Forum in Riyadh. On the sidelines of the third day of the TOURISE Forum in Riyadh, His Excellency the Minister of Tourism, Mr. Ahmed bin Aqeel Al Khatib, and Kerzner International Chairman Mohammed Ibrahim Al Shaibani witnessed the signing of the agreement.
The agreement was signed by the CEO of Kerzner International.
The agreement was signed by the CEO of Central Jeddah Development Company, Engineer Ahmed bin Abdulaziz Al-Salim, and the President of MEDAD Real Estate Company, Abdullah bin Mohammed Al-Aiban.
The agreement was signed by the CEO of Central Jeddah Development Company, Eng. Based on this partnership, Madad Real Estate signed an agreement with Kerzner International, owner of the Atlantis and One&Only brands, to develop and operate the two projects in Jeddah, marking the first presence of the two luxury hotel brands in the Kingdom. The investment value of the collaboration is more than SAR 7 billion, reflecting the volume of quality investments attracted by Jeddah's downtown destination.
The Atlantis project will feature an Atlantis and One&Only hotel. Atlantis Jeddah will feature branded hotel rooms and luxury residential units, along with a water park and integrated entertainment facilities, while One&Only Jeddah will include hotel suites and luxury residential units, offering a distinctive beach experience on the Red Sea coast.
Eng. Engineer Ahmed bin Abdulaziz Al-Salim emphasized that this partnership is an important step in building a luxury hotel system within the destination, which reflects the global confidence in the Saudi economy and reflects the size of the investment opportunities within the destination, and puts Jeddah in the ranks of the most prominent international destinations on the Red Sea.
Abdulaziz Al-Salim said that the partnership is an important step in building a luxury hotel system within the destination. For his part, Abdul Elah bin Mohammed Al-Aiban explained that this partnership comes within the framework of the company's strategy to expand in qualitative projects with added value, pointing out that the destination of Central Jeddah is an ideal model and a stimulating and attractive environment for investment and development of qualitative projects.
Abdul Elah bin Mohammed Al-Aiban explained that this partnership comes within the framework of the company's strategy to expand in qualitative projects with added value.
