Seera Group and Kaden Investment have signed a master hotels development agreement to manage and develop hotels in Saudi Arabia.
The first hotel in the joint venture is set to open in mega-development Riyadh Front. It is strategically located 10 minutes from King Khalid International Airport, within the business area.
Seera Group has more than 40 years of travel and tourism experience in the region. The new partnership with real estate developer Kaden will focus on quality mid-market hotel accommodation.
Majed Alnefaie, CEO of Seera Group, said: "Simplifying the business travel experience, and making it an enjoyable and rewarding one, has always been one of our goals. Riyadh’s business hub market is full of potential – we have plenty of managerial experience and local resources in the domestic and international market, while Kaden Investments is an outstanding establishment in hotel development locally. We look forward to this partnership to tap into the Kingdom’s business market and bring new energy to the country and global tourism."
The first hotel will be surrounded by other large projects including Riyadh Front Exposition and Conference Center (RFECC). It’s the Kingdom’s largest exhibition and conference center, which hosts national, regional, and international conferences, meetings, and exhibitions.
Abdullah Al-Fassam, CEO, Kaden Investment, said: "Riyadh Front is one of the newest additions to Saudi Arabia’s expanding commercial real estate, developed and managed by co-signee Kaden Investment. We have full confidence that the first hotel will be a success story to tell. This cooperation with Seera will create hotels with smart and innovative architecture, as well as cutting-edge infrastructure and a one-of-a-kind experience."