Business
CAYAN Group Signs Investment Development Agreement to Meet Immediate Visitor Demand at NEOM
• Cayan Group signs a Development Agreement with NEOM for a short-term 200-key hotel in Saudi Arabia
• Hilton signs a management agreement with Cayan Group to manage the hotel.
April 3rd 2023, Riyadh, Saudi Arabia: Cayan Group, a leading real estate investment and development company in the Middle East, has signed a development agreement with NEOM, a gigaproject spanning 26,500 square kilometers in northwest Saudi Arabia.
Under the agreement, Cayan Group will fully fund and develop a Hampton By Hilton hotel situated at the NEOM Community site to meet the rapidly rising accommodation demand from the construction sector– a critical component to further progress earthworks at the site. Construction, led by BEC Arabia, has already started on the hotel, and it is expected to open by the end of 2023.
Ahmed Alhatti, Chairman of Cayan Group, said: “We are excited to become part of the visionary and unique project that is NEOM, and to be taking this step together with our globally recognized and respected partners Hilton Hotels and Resorts and BEC Arabia. The leadership of His Royal Highness Mohammed bin Salman, Crown Prince and Prime Minister, has supported the private sector through such projects.”
This agreement is the first at NEOM to be fully funded by the private sector, and Cayan Group’s investment further highlights the private sector’s interest in Saudi Arabia. The hotel’s flexible design and construction will center around sustainability while deploying energy efficient systems. As NEOM moves forward to meet its ambitious targets, developing livability options is an important milestone to fulfil the need of visitors.
“We’re delighted to be working with Cayan Group on the NEOM Community project. This signing signals Hilton’s ongoing efforts to contribute to the growth of the tourism sector in the Kingdom, our enduring commitment to both public and private sector partners and the growing demand for world-class offerings and new experiences throughout the Kingdom,” said Carlos Khneisser, vice president, Development, Middle East & Africa, Hilton.
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Photo caption (high resolution photo attached)
Mr. Ahmed M. Alhatti, Chairman – Cayan Group and Christopher J. Nassetta, President & CEO – Hilton Worldwide at the signing ceremony.
About Cayan Group
Cayan Group has evolved into one of the most compelling and successful Real Estate Developers in the Middle East. We’ve developed some of the most amazing projects in the world, achieving acclaim Internationally. Cayan Group holds offices around Riyadh, Saudi Arabia and Dubai, UAE and the impact of our work spans even further. We have significant experience building high-rise structures, including residential complexes, commercial towers, multi-purpose gated communities, and hospitality projects. Originally conceived in 2004, we’ve never stopped growing, from the first day that we began developing our vision. With lofty goals, an incredible team, and a constant devotion to quality, we’ve managed to achieve next-level satisfaction for our customers – something that has allowed us to earn and keep a reputation for excellence in the marketplace.
For further information email commercial@cayan.net or visit www.cayan.net
About NEOM
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.
About Hilton
Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 19 world-class brands comprising more than 7,100 properties and more than 1.1 million rooms, in 123 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed more than 3 billion guests in its more than 100-year history, earned a top spot on Fortune’s 100 Best Companies to Work For list and been recognized as a global leader on the Dow Jones Sustainability Indices for six consecutive years. Hilton has introduced several industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 150 million members who book directly with Hilton can earn Points for hotel stays and experiences money can’t buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on Facebook, Twitter,
