TAIBA INVESTMENTS: ANNOUNCES THE SIGNING OF A MANAGEMENT AGREEMENT FOR CROWNE PLAZA TAIBA RIYADH

Taiba Investments Company, one of the largest real estate investment and development companies in the Kingdom of Saudi Arabia, today announced that it has signed an agreement to operate the Crowne Plaza Hotel, Taiba Riyadh, with Intercontinental Hotels and Resorts Group (IHG) at Prince Abdul Majeed Hall – God have mercy on him – at Taiba headquarters in Medina.

This is the first hotel that Taiba Investments is developing and building in Riyadh as part of a strategic alliance between the two companies with the aim of developing distinctive hotels in the Kingdom of Saudi Arabia. The hotel, located in the Olaya district at the intersection of Makkah Al Mukarramah Road and Al Takhassusi Street, offers 192 rooms and 110 hotel suites. In addition to the modern design, the hotel will offer exceptional dining options, a panoramic lounge, an international restaurant and an all-day café. The Crowne Plaza Taiba Riyadh also has 200 square meters of meeting space, in addition to fitness and entertainment facilities.

Commenting on the signing of the agreement, Eng. Saleh Al-Habdan, CEO of Taiba, said: “Riyadh is expected to attract more visitors, especially in light of the launch of many pioneering initiatives such as Riyadh for Sustainability and Riyadh’s Vision, which aims to increase tourist flows. and economic to the city of Riyadh. “.

He also added: We are pleased to announce the signing of the first hotel for Taiba Investments in Riyadh in cooperation with InterContinental Hotels and Resorts Group in the Kingdom of Saudi Arabia. As part of Taiba’s drive to be an integral part of the Saudi Vision 2030 and as a growing urban center, Riyadh is the perfect destination to start our journey with IHG, especially with the expected increase in the number of visitors. expected in the capital in the years to come. We also look forward to working with IHG to provide guests with a unique and luxurious experience at the Crowne Plaza Taiba Hotel Riyadh when it opens in 2025.
Haitham Mattar, Managing Director, India, Middle East & Africa, IHG said, “With the signing of Crowne Plaza Taiba Riyadh, we continue to expand our presence in the Kingdom. Our premium brand, Crowne Plaza, is perfect for modern businesses. travelers who want a smooth transition from work to rejuvenation and therefore support the business and leisure tourism offer presented in Vision 2030. We are also honored to have a partner in Al Aqeeq Real Estate Development Company , which is known for its experience and expertise in the The new hotel will greatly benefit from the growing demand of the center and improve the hotel offer in the city.

It should be noted that Taiba Company was established in 1988 as a public joint stock company listed on the Saudi Stock Exchange and manages a variety of investments that include a number of sectors including real estate, hotel and hospitality industry. The company has a long and rich history of investing and developing large commercial projects in Medina and throughout the Kingdom of Saudi Arabia, and is a major supporter of Saudi Vision 2030.


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