A joint venture between Saudico and the fit-out unit of ALEC has secured a major contract from King Abdullah Financial District Development & Management Company (KAFD DMC). Specifically, the contract is for an exclusive new hospitality destination – a 16-storey luxury hotel – within the freezone development.

King Abdullah Financial District is a premier business and lifestyle destination reflecting the core values of Saudi Vision 2030.

The announcement comes shortly after another JV between Saudico and ALEC successfully completed work on the Diriyah Gate Visitor Centre, which serves as an immersive exhibition venue, offering business leaders, tourists, social media influencers and prospective investors a showcase of the experiences and investment opportunities within the Diriyah Gate Development site.

Commenting on the new hospitality project at KAFD, Saudico said it was a 210-key property with a built-up area (BUA) of 26,500sqm.

Interior design will be managed by LW while the Saudico-ALEC FITOUT JV will be responsible for all aspects of fit-out design completion and implementation, including civil and structural works, furnishings, MEP, sanitaryware & accessories, lift interiors, kitchen and laundry equipment, and selected landscaping and facade works.

Gautam Sashittal, Chief Executive Officer, KAFD DMC commented, “With a targeted tourist inflow of 150m visitors by 2030, Saudi Arabia is all set to showcase its authentic history and hospitality through world class destinations featuring the finest of facilities and experiences, a fact that is front and centre to KAFD’s unique lifestyle offering. With yet another state-of-the-art marvel emerging in our iconic district, it was only natural for us to partner with Saudico and Alec Fitout given their track record in delivering aesthetically pleasing and sustainable projects across the Kingdom and the GCC.”