Saudi Arabia, Middle East’s undisputed economic leader, has taken giant stride to expand its already flourishing hospitality sector by adding another feather in its cap as Damac properties has signed a partnership agreement with UAE’s Rotana. This in turn will support Saudi Arabia to develop various opportunities in the hospitality sector.
This partnership commences with the Rotana agreement for operating a tower of hotel apartments in Riyadh.
With this agreement, Rotana brand will operate Damac towers Arjaan by the Rotana in Riyadh alongside its fully featured and furnished apartments by Fendi Casa, operated under Arjaan Hotel Apartments.
Agreement was signed and ushered as the curtains rolled on the opening day of the Arabian Travel Market by the two wings viz Damac Hotels and Resorts – the hospitality arm along with Rotana Hotel Management Corporation.
This partnership has been initiated with base objective of developing opportunities within surging Saudi Arabia’s hospitality sector as the demand from tourists are constantly rising.
According to Damac’s chairman, Hussain Sajwani “Damac had eyed on developing new plots in Saudi Arabia, and coincidentally Rotana at the same time was also planning out and laying out its foundation stone, thereby striving hard to expand their base in the kingdom.”
Ali Sajwani, general manager operations Damac stated that “Their partnership with Rotana in turn will support them in realising and work towards their vision of building and offer unrivalled investment opportunities within the hospitality industry as well as Real Estate Sector.