Shangri-La International Hotel Management Limited and Assila Investments yesterday signed a contract for the management and operation of a 236-room hotel and serviced residences development in Jeddah, the second-largest city in Saudi Arabia and the principle gateway to Mecca. Slated to open in early 2018 Shangri-La Hotel, Jeddah will be the first Shangri-La in Saudi Arabia and an iconic landmark in the Middle East.
Shangri-La Hotel, Jeddah will be housed in a prominent 65-storey development located on Jeddah Corniche Road facing the Red Sea. The group will also manage and provide services to the 122 apartments that range from two-bedroom apartments to the top floor penthouse. Offering stunning views over the water, the hotel will feature four restaurants, function areas totalling 2,118 square metres, luxury spa and fitness areas, a swimming pool, children's club and several lounges.
The building's dramatic design, by global architecture and design firm Perkins+Will, was the recipient of the 2009 MIPIM Architectural Review 'Future Project Award' for 'Best Tall Building'. The tower is situated perpendicular to the shoreline to maximise water views and optimise solar exposure, and its exterior 'skin' features synthetic fabric architectural sails that shade the interior spaces, protect balconies from wind, maintain privacy and house LED lights that create a distinctive pattern over the surface of the building.
"We look forward to working closely and cohesively with Shangri-La and are confident that they will manage the premium development to its maximum potential," said Abdullah Alissa, the CEO of Assila Investments.
"By partnering with such a respected investor as Assila, who clearly supports our growth strategy, we are taking a significant step in strengthening our brand in the Middle East region," said Shangri-La President and CEO Greg Dogan. "Jeddah is an important commercial hub being both a Saudi Arabian port city and the country's second largest city."
Assila Investments (formerly known as MASC Holdings) is a diversified holding company with multi-billion dollar interests across many industries, including banking, food, hospitality and real estate. Assila Investments is a closed joint-stock company owned by Mohammed Ibrahim Alissa and his family.
Hong Kong-based Shangri-La Hotels and Resorts, one of the world's premier hotel companies, currently owns and/or manages more than 90 hotels under the Shangri-La brand with a room inventory of over 38,000. Over four decades the group has established its brand hallmark of 'hospitality from the heart'. The group has a substantial development pipeline with upcoming projects in Mainland China, Cambodia, Hong Kong, India, Myanmar, Philippines, Qatar and Sri Lanka.
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