Masar Destination launches first international hotels projects with investment value of nearly $2 bln
On the sidelines of the 6th FII summit
Umm Al-Qura for Development and Construction Company, owner and developer of "Masar" Destination, and strategic partner of the "Future Investment Initiative" (FII), has announced the signing of an agreement to establish and operate its hotels projects package with a total investment value of nearly two billion dollars. The Saudi Arabian “Baytur” Construction Company was nominated as the main contractor for the implementation, while the International “Al Dar” for Engineering Consultancies was appointed to supervise the implementation of this package, which includes the construction and the operation of seven hotel towers. The signing was attended by Engineer Saleh Al-Rasheed, CEO of the Royal Commission for Makkah and Holy sites.
"Masar" Destination has appointed these international operators in its quest to set new international standards in the hospitality sector in the holy city of Makkah. The agreement boasts the famous hospitality brand ”Kempinski” and the international “Taj” chain for the first time in Makkah. They will be operating two 5-star towers and one “Kempinski” residential tower. This hospitality Package occupies a select location in the central area of Makkah, which is only about 500 meters away from the Great Al-Haram Mosque. It hosts a commercial complex of more than 43,000 square meters. These hotels offer a range of parking spaces and a bus station for shuttles. The leading hotel brand "Hilton" is set to take over the operations of the four-star “Embassy Suite – Hilton”, as well as three 3-star hotel towers "Garden Inn - Hilton" next to the “Alharamain” train station. This entire development offers more than 2800 rooms.
In July 2022, “Masar” has signed a strategic partnership contract with the “Future Investment Initiative Institute” driven by its eagerness to contribute effectively to the work of the Institute and its endeavor to have a positive impact on Humanity through its four values: artificial intelligence and robotics, education, health, and sustainability.