Logo of Riyad REIT Fund
Riyad REIT Fund announced the rebranding and opening of JW Marriott Hotel Riyadh, making it the first JW Marriott hotel in Saudi Arabia, fund manager Riyad Capital said in a statement to Tadawul.
The property was previously branded as Burj Rafal Riyadh.
The hotel development project made its first milestone in the first phase of the improvement plan to deliver a unique luxury corporate destination in the new business center near King Abdullah Financial District (KAFD), strategically located on King Fahad Road and near major businesses, government entities and entertainment areas in Riyadh.
The first phase of the improvement plan enhances the arrival experience and guest services. It also introduces new high-end amenities and food and beverage outlets, the fund manager said.
The remaining phases of the improvement plan will commence in accordance with the strategy set by the fund manager to ensure optimal returns to unitholders.
The move will have a positive impact on the fund’s results, Riyad Capital said.
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