• Memar Development & Investment is one of the companies paving the way for real estate development in the hospitality and entertainment sector in the Kingdom of Saudi Arabia.
• The new hotels will add an impressive 618 keys to Rotana’s expansive portfolio across the Kingdom.
Rotana announced its ambitious pipeline across the Kingdom of Saudi Arabia at the Future Hospitality Summit (FHS) 2023, signing four “Edge by Rotana” and one “Rayhaan by Rotana” property in partnership with Memar Development & Investment, a leading real estate development company specialized in the hospitality development guided by the motto “Developing to enhance life”.
Guy Hutchinson, President & CEO of Rotana, and Eng. Abdulaziz Al Meqren, CEO of Memar Development & Investment, were both present at the official signing of the agreement at FHS’s Global Stage on Tuesday, 9 May 2023.
Commenting on the partnership, Hutchinson said: “Saudi Arabia presents one of the fastest-growing markets in the region, increasingly establishing itself as a leading tourist destination. These new properties located in the heart of Riyadh include a mix of hotels and serviced apartments, offering our guests diverse options to suit their varying needs. We are excited to partner with Memar Development & Investment on this project as we work together to deliver on Rotana’s singular brand promise of delivering ‘Treasured Time’ for all our guests.”
The five new Riyadh properties will add 618 keys to Rotana’s growing portfolio. This is in line with the group’s target of adding triple the number of rooms it currently runs in the Kingdom to 6,000 over the next four years. The new Edge by Rotana properties will be interconnected, operating in synergy to ensure efficient workflow and deliver the ultimate guest experience. The properties will offer guests a range of dining options as well as recreational facilities such as pools, gyms, treatment rooms and more.
Eng. Abdulaziz Al Meqren, CEO of Memar Development & Investment added “We are pleased to sign today with a leading hospitality brand with regional roots such as Rotana. This new development will provide visitors with various experiences gathered in one place. With a variety of dining and recreation facilities being developed across all five properties, residents and visitors of Riyadh will soon have a new place to discover in the city,”
Makram El Zyr, Corporate Vice President – Development for Rotana added: “launched at ATM 2022, Edge by Rotana has seen tremendous development and is on track to reach its target of operating 30 Edge by Rotana properties across the region by 2027. Rotana has, to date, successfully opened three Edge by Rotana-managed hotels in the UAE – Arabian Park and Park Apartments in November 2022, and Damac Hills 2 in February 2023.”
Memar Development and Investment was established in 2007 to be one of the most valuable and innovative real estate development companies in Saudi Arabia in residential, commercial, hospitality and entertainment. Through our work, we were able to contribute to the formulation of the special concept of quality of life, by focusing on designs and buildings of quality and efficiency that simulate humanism in all its forms.