Second Phase of Visionary The District Al Faisaliah Redevelopment Project in Riyadh Begins

20^thAugust 2020: Al Khozama Company, the award-winning and pioneering luxury hospitality and property management company, has confirmed the start of the second phase of its ambitiousThe District Al Faisaliahredevelopment project, incorporating Al Faisaliah Tower, Al Khairiah Towers, Al Faisaliah Hotel, Al Faisaliah Suites, Hotel Al Khozama and the Mode Al Faisaliah Mall in the Olaya District.

The visionary project will further strengthen the global recognition of Riyadh as the ultimate Middle East destination city linking true Saudi heritage with world-class hospitality, retail and entertainment.

The first phase ofThe Districtproject announced in 2017 saw the refurbishment and expansion of the Mode Al Faisaliah Mall, extending its square-metre footprint by 20 percent to offer premium retail space of 35,400m, and to introduce internationally renowned restaurant brands to the Kingdom, including Yauatcha, Meraki, Mamo Michelangelo, La Petite Maison and La Brasserie.

In close proximity to the mall, the world-renowned Al Faisaliah Hotel, which has welcomed global leaders and high-profile guests for more than 20 years, is also currently undergoing renovation as part of this phase and is scheduled for completion in 2021.

The second phase ofThe Districttransformation incorporates futuristic architectural design with intelligent urban planning, to create the perfect integration of contemporary retail, commercial, entertainment, hospitality, well-being and residential living.

The redevelopment includes a cinema complex with 9 movie screens, and fully landscaped outdoor green areas with water features and leisure amenities. Direct access to the Riyadh Metro, and a five-level underground parking facility for more than 1,000 cars, ensures the ultimate in convenience, safety and easy accessibility for Riyadhs residents and visitors.

As part of the redevelopment, the historic Hotel Al Khozama one of the first hotels to open in Riyadh more than forty years ago will close in August 2020, and will be replaced with a new contemporary 5-star hotel that will deliver the hospitality brands exemplary customer service for a new generation. The new property, scheduled for completion in 2024, will offer 200 guest rooms and suites, two restaurants, connected meeting rooms, a ballroom, spa health club, and pool deck.

Commenting on the significant role the company continues to play in real estate development in the Kingdom, and particularly in Riyadh,H.H. Prince Bandar bin Saud bin Khalid Al Saud, Chairman Al Khozamasaid: The strategy followed by Al Khozama Company is aligned with the Kingdoms 2030 Vision in creating new benchmarks and opportunities for excellence, and contributing to the countrys long-term success.The Districtis one such example.

Mr. Khalid Saud Abu Haimed, Chief Executive Officer of Al Khozama Companyadded: Under the leadership and direction of our Chairman, we are proud to achieve significant success in hospitality, retail centres and FB to create an unrivalled lifestyle and unique experience for the Saudi community and its guests.

The SAR 2-billionThe Districtredevelopment project, designed by award-winning USA based architectural firm Gensler, is scheduled for completion in 2024.

-

About Al Khozama Company

Al Khozama Management (AK) is a pioneering developer and manager of premium commercial properties in the Kingdom of Saudi Arabia. Established in 1995, the company follows a progressive and diversified business model that covers the ownership, investment and management of properties in hospitality, retail, commercial, FB and residential sectors.

With numerous international awards garnered by company over the past 25 years, in 2019 AK was named Saudi Arabia's leading luxury hospitality company by the World Travel Awards. In addition to presently managed five hotels including Al Faisaliah Hotel and Al Faisaliah Suites, Riyadh; Bay La Sun Hotel Marina and Views Hotel Residences, King Abdullah Economic City and Al Bustan Residences, Riyadh, AK is scheduled to open KAUST Hotel in King Abdullah University for Science Technology in Q1 2021.

For more information, visitalkhozama.com