Al-Khozama Company, an award-winning luxury hospitality and property management company, has confirmed the start of the second phase of its “The District Al-Faisaliah” redevelopment project, incorporating Al-Faisaliah Tower, Al-Khairiah Towers, Al-Faisaliah Hotel, Al-Faisaliah Suites, Hotel Al-Khozama and the Mode Al-Faisaliah Mall in the Olaya district.
The SR2 billion ($533 million) redevelopment project, designed by award-winning US-based architectural firm Gensler, is scheduled for completion in 2024.
The project is expected to further strengthen the global recognition of Riyadh as the ultimate Middle East destination city linking true Saudi heritage with world-class hospitality, retail and entertainment.
The first phase of The District project announced in 2017 saw the refurbishment and expansion of the Mode Al-Faisaliah Mall, extending its square-meter footprint by 20 percent to offer premium retail space of 35,400 square meters, and to introduce internationally renowned restaurant brands to the Kingdom, including Yauatcha, Meraki, Mamo Michelangelo, La Petite Maison and La Brasserie.
In close proximity to the mall, Al-Faisaliah Hotel, which has welcomed global leaders and high-profile guests for more than 20 years, is also currently undergoing renovation as part of this phase and is scheduled for completion in 2021.
The second phase of The District transformation incorporates futuristic architectural design with intelligent urban planning, to create the perfect integration of contemporary retail, commercial, entertainment, hospitality, well-being and residential living.
The redevelopment includes a cinema complex with 9 movie screens, and fully landscaped outdoor green areas with water features and leisure amenities. Direct access to the Riyadh Metro, and a five-level underground parking facility for more than 1,000 cars, ensures the ultimate in convenience, safety and easy accessibility for Riyadh’s residents and visitors.
As part of the redevelopment, Hotel Al-Khozama — one of the first hotels to open in Riyadh more than 40 years ago — closed in August, and will be replaced with a new contemporary 5-star hotel. The new property, scheduled for completion in 2024, will offer 200 guest rooms and suites, two restaurants, connected meeting rooms, a ballroom, spa and health club, and pool deck.
Prince Bandar bin Saud bin Khalid Al-Saud, chairman of Al-Khozama Company, said: “The strategy followed by Al-Khozama Company is aligned with the Kingdom’s Vision 2030 in creating new benchmarks and opportunities for excellence, and contributing to the country’s long-term success. The District is one such example.”
Khalid Saud Abu Haimed, chief executive of Al-Khozama Company, added: “Under the leadership and direction of our chairman, we are proud to achieve significant success in hospitality, retail centers and F&B to create an unrivaled lifestyle and unique experience for the Saudi community and its guests.”
