Rove Hotels expands to Saudi Arabia with first hotel in KAEC

Seated from left: Olivier Harnisch, CEO, Emaar Hospitality Group, and Ramzi Solh, CEO — Commercial Development, KAEC. Standing from left: Jaidev Menezes, corporate director — business development, Emaar Hospitality Group; Animesh Pandey, director, asset management, KAEC; Fahd Al-Rasheed, group CEO, KAEC; and Arun Vaish, director, hospitality development, KAEC.
Updated 07 February 2018
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Rove Hotels expands to Saudi Arabia with first hotel in KAEC

Rove Hotels, a joint venture of Meraas and Emaar Properties PJSC, has announced its expansion to Saudi Arabia with the Rove King Abdullah Economic City. The project will be located centrally in the Bay La Sun waterfront district of King Abdullah Economic City (KAEC) in the vicinity of the Prince Mohammad bin Salman College of Business and Entrepreneurship (MBSC) and a newly established entrepreneurship hub.
Marking the debut of Rove Hotels in Saudi Arabia, Rove King Abdullah Economic City is the first hotel under the contemporary midscale lifestyle hotel brand outside the UAE. It will feature 240 rooms, fitness centers for men and women, and a wide range of lifestyle amenities. The construction work is anticipated to start in the second quarter of 2018 with the soft opening scheduled for the fourth quarter of 2019.
“KAEC is fast establishing a reputation as the domestic destination of choice for leisure visitors and business events and conferences. Our expanding range of entertainment and leisure offerings are having a tremendous impact on the city’s appeal and ability to deliver a standout experience for visitors,” said Ramzi Solh, CEO, Real Estate Operation and Management Company. “We have an aggressive development plan to expand our hotel and resort portfolio.”
Olivier Harnisch, chief executive officer of Emaar Hospitality Group, said: “Rove King Abdullah Economic City brings the innovative concept of contemporary midscale hospitality experiences to the Kingdom ... The expansion complements the goals of the Saudi Vision 2030 to drive economic diversification with tourism development as a strategic growth area.”
Paul Bridger, corporate director of operations, Rove Hotels, said: “With five-star hotels accounting for the majority of hotel rooms, the need for high-quality-midscale hotels is significant in the Kingdom. Rove Hotels is addressing the industry ‘white space’ through a new hotel concept that not only helps address the gap in midscale hotel rooms but also creates vibrant social spaces for the young tech-savvy Saudis. The philosophy of Rove Hotels is to deliver culturally inspiring and fuss-free service in central locations. Bay La Sun in KAEC is an ideal destination for the first Rove hotel in Saudi Arabia.”


ALJ to drive foreign investment in auto sector

Updated 16 August 2018
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ALJ to drive foreign investment in auto sector

Abdul Latif Jameel (ALJ) and Japanese company Kosei Aluminium (Kosei) have signed a memorandum of understanding (MoU) with the National Industrial Clusters Development Program (NICDP), driving foreign investment into Saudi Arabia’s auto manufacturing sector.

The MoU seeks to explore the manufacturing of automotive aluminum wheels and components in Saudi Arabia and is the first major Saudi Arabian-based automotive components manufacturing venture intended to produce export products for worldwide markets.

Long-term plans for the venture involve the establishment of a factory in Saudi Arabia, as a global hub for Kosei, contributed by Saudi Arabian Mining Company (MA’ADEN). The volume of wheels produced is expected to represent a significant market share in the world.

The MoU, signed by NICDP Vice President Abdullah Al-Hazani, on behalf of NICDP President Homood Al-Tuwaijiri, Kosei CEO and President Shunkichi Kamiya, and Abdul Latif Jameel Vice Chairman and Deputy President Hassan Jameel will see Abdul Latif Jameel, Kosei and NICDP undertake a study into the technical and financial feasibility of manufacturing automotive aluminum die casting wheels and components in Saudi Arabia. This would contribute to the development of the manufacturing industry in the country — a key priority of Saudi Vision 2030.

Kamiya said: “It is our pleasure to sign this MoU with NICDP and Abdul Latif Jameel, to discover the enormous potential and various opportunities in the Kingdom as well as the MENA region. I am pleased to state that, the timing of Kosei’s global vision 2021 and Saudi Arabia’s Vision 2030 are so apt that, it has brought the three parties together to conduct the feasibility study and work toward achieving the goals.”

Al-Hazani said: “We are glad to have this MoU signed with Kosei Aluminum, one of the prominent global automotive suppliers in Japan, and Abdul Latif Jameel, one of the biggest automotive business expertise established in Saudi Arabia.”

 Signing this MoU is a part of NICDP’s plans and activities to develop a globally competitive automotive industry, together with growing a strong automotive parts supply base, in Saudi Arabia, which is in line with Vision 2030 to diversify economy in non-oil sector in the kingdom.”

Jameel said: “This MoU explores the exciting potential to bring manufacturing skills and jobs to Saudi Arabia and marks the first Saudi Arabian venture in large-scale automotive components manufacturing for export. The agreement is an important step in NICDP’s efforts to develop the manufacturing industry in Saudi Arabia in accordance with Saudi Vision 2030, and strives to make a valuable contribution to the Saudi automotive cluster.” 

The signing comes ahead of the expected visit to Saudi Arabia by Japanese Prime Minister, Shinzō Abe, and follows a visit by King Salman in March 2017, during which Saudi Arabia and Japan agreed to deepen existing bilateral relations between the two countries and establish a solid strategic partnership, as part of the Saudi-Japan Vision 2030.