Retal for Urban Development proudly announced the signing of a strategic agreement with Marriott International, the world’s largest hotel management company, during the Cityscape Global 2023 exhibition in Riyadh. This partnership aims to launch The Ritz-Carlton Hotel in Al Khobar and develop a luxury waterfront along the Arabian Gulf coast.
The Ritz-Carlton Hotel in Al Khobar, spanning 99,917 square meters, will offer luxurious spaces designed with urban and modern architectural elegance and unparalleled luxury. The project, expected to open in 2027, will feature a comprehensive hospitality destination offering hotel experiences, global dining options, and events.
Eng. Abdullah bin Faisal Al-Braikan, CEO of Retal for Urban Development, emphasized that this agreement reflects Retal’s capacity and confidence in developing premium tourism projects in alignment with the goals of Vision 2030. It underscores Retal’s commitment to partnering with prestigious global brands and diversifying the tourism landscape in the Kingdom, particularly in the Eastern Region.
Al-Braikan noted that Retal’s presence at the international real estate event, Cityscape, in Riyadh, as well as their sponsorship of the exhibition, demonstrates the company’s commitment to achieving exceptional standards. The signing of this agreement holds strategic importance for both Retal and Marriott International, as well as the industry at large. This collaboration represents a significant step towards the development of the tourism and hospitality sector in the Eastern Region, providing world-class hospitality experiences that align with the Quality-of-Life program’s concepts.
The agreement was signed in the presence of Abdullah Al Fozan, Chairman of Al Fozan Holding Company; Eng. Abdullah bin Faisal Al-Braikan, CEO of Retal; Sandeep Walia, CEO of Marriott International in the Middle East; Qusai Bin Abdullah Al-Fakhri, CEO of the Saudi Tourism Development Fund; and Mohammed Bin Mansour Bin Jumah, Chairman of Mansour Bin Jumah and Sons Holding Company.
Sandeep Walia, CEO of Marriott International in the Middle East, commented, “We look forward to collaborating with Retal for Urban Development to launch the luxury destination and provide exceptional Ritz-Carlton service in the Eastern Region. We see significant opportunities for our renowned brands and investing the efforts of the Kingdom of Saudi Arabia in building an advanced tourism sector.”
Retal for Urban Development, founded in 2012, is a leading real estate development company in the Kingdom of Saudi Arabia, specializing in residential, commercial, and hotel projects. The company boasts a diverse real estate portfolio, comprising over 45 projects across the Kingdom, including integrated residential communities, commercial developments, and internationally renowned hotels.
