Al Nakhla Investment signs agreement to open Residence Inn by Marriott in Riyadh, Saudi Arabia
This agreement is part of a broader strategic collaboration between Al Nakhla Investment and Marriott International to bring world-class hospitality experiences to the Kingdom. The collaboration underscores both companies' commitment to supporting Saudi Arabia's Vision 2030, which seeks to boost tourism, attract international investment, and develop the Kingdom's hospitality sector.
Speaking on the occasion, Momen Dowji, Business Development Manager of Al Nakhla Investment, said, 'We are thrilled to work with Marriott International to bring the Residence Inn by Marriott brand to Riyadh. This agreement aligns with our strategy to expand our footprint in the hospitality sector and contribute to the growth of Saudi Arabia's tourism and business travel markets. We believe that the Residence Inn will offer a unique value proposition to both business and leisure travelers seeking high-quality, longer-stay accommodation in the heart of Riyadh.'
Introducing Residence Inn by Marriott in Riyadh will add to the city's growing array of hospitality options, catering to a diverse range of travelers. With its focus on long-term stays, Residence Inn by Marriott is poised to meet the needs of professionals, expatriates, and families looking for a home-like environment combined with the benefits of a full-service hotel.
'We continue to see a strong demand for longer stay accommodation in Riyadh and we are excited to work with Al Nakhla Investment to open Residence Inn by Marriott Riyadh ,' said Chadi Hauch, Regional Vice President, Development – Middle East at Marriott International. 'Whether for leisure or business, Residence Inn provides travellers the comforts of home while on the road. This property will be a great addition to our Residence Inn portfolio in the Kingdom which continues to be an important growth for the brand,'
Residence Inn by Marriott Riyadh is anticipated to open late 2026. The project is expected to create numerous job opportunities and contribute to the local economy, further solidifying Riyadh's position as a leading destination for both business and leisure travelers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Web Release
3 hours ago
- Web Release
Saudi Arabia To Host Trio of Co-located Trade Events and Turn Riyadh into Sourcing Hub for Toys, Stationery, and Corporate Gifting
Saudi Arabia To Host Trio of Co-located Trade Events and Turn Riyadh into Sourcing Hub for Toys, Stationery, and Corporate Gifting Riyadh will become the epicentre of a series of trade-only exhibitions next month when dmg events organises the inaugural Kids & Toys Expo Saudi Arabia, Stationery & Paper Expo Saudi Arabia, and Gifts & Homeware Expo Saudi Arabia. All three shows will be co-located under one roof at the Riyadh Front Exhibition & Conference Centre from 16-18 September, providing attendees with a comprehensive platform for all their sourcing needs. The debutant trio represents the Kingdom's first full-service B2B sourcing hub, giving local distributors and traders, retailers and resellers, government stakeholders, mega project developers, entrepreneurs, and investors, the opportunity to meet more than 150 regional and global exhibitors. Among the confirmed exhibitors are representatives from 23 countries, including four with their own major national pavilion: China, Türkiye, and Hong Kong. The co-location also offers buyers the opportunity to consolidate multiple procurement needs in a single visit, streamlining supply chains and reducing sourcing time while fuelling strategic partnerships that support Vision 2030 goals. 'This represents something of a marketplace revolution,' said Jasmeet Bakshi, Vice President, Design and Hospitality at dmg events. 'For the first time, three dedicated B2B exhibitions will run side-by-side at the Riyadh Front Exhibition & Conference Centre, creating a sourcing super-hub designed to transform how Saudi businesses buy, connect, and grow. 'By co-locating these specialised events, we are enabling buyers to meet world-class suppliers, discover market-ready innovations, and forge valuable partnerships in a single visit. The concept is simple but powerful: Bring the right people and the right products together in one place, and business will happen faster. For busy buyers, this means less travel, less time lost, and more strategic sourcing.' Three Industries, One Destination for Business Growth At the Kids & Toys Expo Saudi Arabia – the Kingdom's first trade event uniting the full kids and toys ecosystem from educational to hi-tech and digital children's products – visitors will step into a world of creativity, innovation, and imagination. With a heavily import-dependent market forecast to grow 12 per cent annually to reach a value of US$1.4 billion by 2030, the Kingdom's demand for high-quality, innovative toys is soaring. From Global brands such as Mattel, Hasbro, Disney, Crayola and Spinmaster to AI toy leader Anki Toys and leading local players such as Samaco Toys, Al Shula, Supreme Trading, Hobbies Castle, the show will reveal the trends shaping the future of play. 'This exhibition has the power to be a gateway to market transformation by being a springboard for local manufacturing and strategic partnerships,' added Bakshi. The Stationery & Paper Expo Saudi Arabia will unveil and celebrate the tools that power schools and offices, from sustainable paper products and smart office solutions to premium writing instruments from brand leaders including Abo Moati, Pilot Pens, Linc Limited, the BNB Group, and DOMS. Highlighting artisanry, innovative designs, and corporate gifting, the show is a window into how tradition meets innovation in an industry where creativity is increasingly both physical and digital. 'Stationary and Paper Expo Saudi Arabia promises to be a hub for idea empowerment through paper, where innovation and technology are answering sector-wide demand for sustainability and smart office solutions,' said Bakshi. 'Visitors can look forward to seeing the latest in eco-friendly notebooks, digital writing tools, and smart organisation systems, as well as leveraging the synergy with the co-located shows for enhanced networking and efficiency.' Completing the trio is the Gifts & Homeware Expo Saudi Arabia, a curated display of corporate gifting solutions, artisan crafts, and lifestyle products. Confirmed exhibitors include Event Gifts, Alpha Arts, Rooh, Green Point, Abreeze, Sima Creative and Crystal Arc, which will unwrap exceptional business opportunities. 'This is a timely event to service the rising disposable income in a Kingdom experiencing robust growth in retail, home décor and gifting,' added Bakshi. 'Visitors will also be able to experience products first-hand, network and learn via a programme of interactive demos, and business and panel sessions.' Beyond the Show Floor – The Creative Circle Running alongside the exhibitions, The Creative Circle is a dynamic two-day conference that will bring together more than 25 industry leaders for high-impact discussions and trend analysis. Attendees will to have access to various skill-building features – including a special collaboration with Artse, the leading marketplace for works by some of the world's best emerging and established artists. Designed as a fast-paced forum to spark ideas and foster collaboration, Creative Circle attendees will gain an insider's perspective into the trends shaping the region's retail, homeware, and gifting sectors via fast-paced panels, expert-led discussions. 'The Creative Circle is a business accelerator for the Kingdom, a platform for growth,' said Bakshi. 'It adds another layer of opportunity by offering exclusive insights on trends, consumer behaviour, and creative strategies that can directly shape business for years to come.' Global Reach, Local Impact With more than 5,000 visitors expected, the expos are tailored exclusively for B2B buyers — from large retailers and corporate procurement teams to boutique wholesalers and e-commerce entrepreneurs. Products displayed are hand-selected for the Saudi market, ensuring they meet local business needs and consumer preferences. 'Sure, this sourcing cluster is focused on bringing products to Saudi Arabia, yet it's also strongly focused on aligning with Vision 2030 through its encouragement of local manufacturing, boosting retail competitiveness, and positioning the Kingdom as a sourcing powerhouse in the region,' added Bakshi. 'Every product on display is hand-selected for the Saudi market, ensuring cultural relevance and immediate business potential.' Organiser dmg events is also ensuring the three expos reflect global best practice in sustainability. Plastic-free badges and cups, replacing single-use plastic bottles with glass, and donating used food to workers are some of the visible steps attendees may notice next month. Meanwhile, QR code-driven marketing, reusable exhibition structures, and biofuel-powered logistics all ensure the shows are designed with environmental responsibility in mind.
Zawya
6 hours ago
- Zawya
Real estate industry leaders: Ras Al Khaimah is undeniably one of the fastest-growing markets in the region
At the heart of this remarkable advancement is Ras Al Khaimah's 2030 Vision – a sustainable, inclusive strategy that places people at its core Ras Al Khaimah, UAE – Ras Al Khaimah is experiencing an unprecedented real estate boom, rapidly emerging as one of the most dynamic property markets in the United Arab Emirates, guided by the forward-looking vision of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. The Emirate is shaping its skyline as it builds its resilient, diversified economy, in line with its ambitious strategy that centers around sound planning, sustainability, enhancing quality of life for its citizens and residents and world-class developments. In the past three years, property sales and prices have surged in Ras Al Khaimah, driven by a wave of hospitality, commercial and residential projects. Moreover, an expected population growth from 0.4 million to 0.65 million by 2030 is set to generate demand for an estimated 45,000 additional residential units. This sustained growth is anchored in a diversified economy, investor-friendly regulations and the entry of global developers into the market, such as Emaar, Aldar and Ellington, alongside local leaders Marjan, Al Hamra and RAK Properties. At the forefront of Ras Al Khaimah's transformation is Al Marjan Island, a premier waterfront destination making strides in the sector under the leadership of CEO Eng. Abdullah Al Abdooli, and playing host to ultra-luxury brands including Wynn, JW Marriott, Nobu, Missoni and The Address. Further expanding its offering, Marjan is developing RAK Central, a multifunctional hub that blends business, lifestyle and innovation, and is set to become one of the Northern Emirates' largest commercial districts. The development features premium Grade-A offices and prioritizes environmental sustainability through cutting-edge green building practices, in line with the Emirate's 2030 Vision. For its part, developer Al Hamra, led by CEO Benoy Kurien, continues to set the standard for integrated living with Al Hamra Village's more than 4,000 homes, golf course and vibrant community of over 10,000 residents, complemented by major projects such as Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront and the Emirate's largest and most popular retail hub – Manar Mall. Further along the coast, RAK Properties is enhancing the Emirate's shoreline with its flagship Mina development, already home to award-winning resorts, such as Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. The development is gearing up to welcome upcoming additions, such as Nikki Beach, Staybridge Suites and the planned Four Seasons. 'The vision for Ras Al Khaimah is becoming a reality,' said RAK Properties Chairman Abdulaziz Abdullah Al Zaabi. 'We are creating a vibrant, sustainable environment that is attracting global investment while maintaining the unique culture and natural heritage of our Emirate.' Meanwhile, the company's CEO Sameh Muhtadi asserted that: 'What we have seen over the past couple of years is remarkable. We are witnessing unprecedented global interest – and this momentum will only continue.' Underpinning Ras Al Khaimah's real estate evolution is a robust infrastructure. The Emirate boasts eight hospitals, including the state-of-the-art RAK Hospital, and a modern education system where private schools are regulated by the Department of Knowledge. Additionally, the Emirate consistently ranks among the safest places in the world, adding to its growing livability credentials. Tourism is another central pillar of the Emirate's advancement, setting a record in 2024 that saw Ras Al Khaimah welcome 1.28 million tourists, drawn by attractions such as Jais Flight – the world's longest zipline – Bear Grylls Explorers Camp and 1484 by Puro, the UAE's highest-altitude restaurant. A leading stakeholder in the sector is RAK Hospitality Holding, which, under CEO Alison Grinnell, continues to drive the tourism-hospitality nexus with strategic hotel acquisitions and innovative offerings. Ras Al Khaimah is undeniably one of the fastest-growing markets in the region, industry leaders agree, as new beachfront apartments, luxury villas, golf communities and lifestyle hubs continue to attract investors and residents alike. At the heart of it all is Ras Al Khaimah's 2030 Vision – a sustainable, inclusive strategy that places people at its core. With more global developers, investors and residents joining the journey, the Emirate is becoming a benchmark for smart urban growth, vibrant communities and opportunity-driven living. -Ends- About Ras Al Khaimah Ras Al Khaimah (RAK), the fourth largest Emirate in the UAE, is defined by its natural diversity, rich history and a forward-thinking vision, led by His Highness Sheikh Saud bin Saqr Al Qasimi. His focus on sustainable development, economic prosperity, environmental conservation, social development and innovation has shaped RAK into an ideal environment to live, work and invest. With a strategic location connecting East and West – placing one third of the world's population within four hours' flying time – RAK is a gateway to key markets, such as the UAE, Middle East, Africa, India and beyond. RAK's economy is among the most diversified in the region, with no single sector contributing more than 27% to its GDP. The Emirate offers a business-friendly environment, with simplified, customizable services, low operating costs, 100% foreign ownership, zero personal income tax and one of the world's lowest corporate tax rates. Its efficient judicial system, recognized by the World Bank, ensures fairness and transparency. RAK also boasts world-class infrastructure, including multiple seaports strategically close to the Strait of Hormuz and major international shipping lanes, an international airport and extensive logistics capabilities. RAK is home to over 50,000 companies from 100+ countries, including industry leaders and global exporters, such as RAK Ceramics and Julphar. Over 30,000 of these businesses operate within Ras Al Khaimah Economic Zone (RAKEZ), one of the region's largest free zones, while RAK Digital Assets Oasis (RAK DAO) reinforces the Emirate's ambition to become a global hub for Web3 and digital assets. RAK's economic strength is reflected by 15+ years of consistent 'A'-range Fitch and S&P credit ratings, with both agencies upgrading RAK in 2024, to 'A/A-1' by S&P and 'A+' by Fitch. RAK has a multicultural society of 0.4 million people from 150 countries and offers a high quality of life, including accessible luxury living and a serene coastal lifestyle. Significant investment in RAK's real estate, hospitality and tourism sectors in recent years is seeing signature luxury global brands, such as Wynn, Four Seasons, Nobu, Fairmont and La Mer By Elie Saab joining existing landmarks from Waldorf Astoria, Ritz-Carlton and Mövenpick. Projects such as RAK Central will redefine the commercial and residential landscape, with innovative Grade A office spaces and modern, sustainable residential areas creating a desirable location for upscale living. As a fast-growing tourism destination, RAK has become synonymous with adventure, culture and leisure. Its adventure tourism, especially at Jebel Jais, the UAE's highest peak, its stunning natural beauty, including 68km of beaches spanning the majority of a near-80km coastline, and 7,000 years of history further enhance its universal appeal. Four of RAK's archaeological sites are on UNESCO's tentative list of World Heritage Sites. With year-round sunshine, straightforward business set-up, a competitive cost of living and high quality of life, Ras Al Khaimah offers limitless opportunities, making it a destination that truly embraces potential. | Facebook | Twitter | Instagram | LinkedIn | YouTube For media enquiries: Ahmed Elsisi
Al Etihad
7 hours ago
- Al Etihad
Ras Al Khaimah leads regional real estate boom as one of fastest-growing markets
19 Aug 2025 14:49 RAS AL KHAIMAH (WAM) Ras Al Khaimah is witnessing an unprecedented boom in its real estate sector, quickly establishing itself as one of the fastest-growing property markets in the UAE, thanks to the visionary leadership of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al emirate is moving steadily toward reshaping its urban skyline while building a diversified, resilient economy. This comes as part of its ambitious strategy focused on sound urban planning, sustainability, improving quality of life for citizens and residents, and delivering world-class the past three years, the Emirate has recorded significant increases in real estate sales and prices, supported by landmark developments in hospitality, commercial, and residential sectors. Population growth—expected to rise from 0.4 million to 0.65 million by 2030—is projected to drive demand for around 45,000 additional housing sustained growth is built on a diversified economy, investor-friendly legislation, and the entry of major global developers such as Emaar, Aldar, and Ellington Properties, alongside local leaders like Marjan, Al Hamra, and RAK the heart of the transformation is Al Marjan Island, a premier coastal destination progressing rapidly under the leadership of Eng. Abdulla Al Abdooli, CEO of Marjan. The island is home to top-tier luxury hotel brands including Wynn, JW Marriott, Nobu, Missoni, and The part of its expansion plans, Marjan is developing 'RAK Central,' the Emirate's newest mixed-use economic destination featuring a fully integrated complex for business, residential, and leisure activities. The development is expected to become one of the largest commercial districts in the Northern Emirates, offering premium Grade-A offices and incorporating green building practices aligned with Ras Al Khaimah Vision Al Hamra Real Estate Development, led by CEO Benoy Kurien, continues to raise the bar for integrated living through its flagship 'Al Hamra Village,' which includes over 4,000 residential units and a golf course, supporting a vibrant community of more than 10,000 residents. The company is also behind major developments such as Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront, and 'Manar Mall,' the Emirate's largest and most iconic shopping the coast, RAK Properties is enriching the waterfront with its landmark project 'Mina,' which currently includes award-winning resorts like Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. The development is also preparing to welcome upcoming projects such as Nikki Beach, Staybridge Suites, and the planned Four Seasons Abdullah Al Zaabi, Chairman of RAK Properties, said, 'The vision of Ras Al Khaimah is now becoming a reality. We are creating a vibrant and sustainable environment that attracts global investment while preserving the unique culture and natural heritage of our Emirate.'Sameh Muhtadi, CEO of RAK Properties, confirmed that Ras Al Khaimah is receiving unprecedented global attention due to exceptional efforts over the past two years, expressing confidence in the continued growth of Ras Al Khaimah's real estate sector is underpinned by robust infrastructure, including eight hospitals such as the advanced RAK Hospital, and a modern education system with private schools regulated by the Ras Al Khaimah Department of Knowledge. The Emirate also consistently ranks among the safest places in the world, reinforcing its appeal as a destination for living and is another vital pillar of the Emirate's development. In 2024, Ras Al Khaimah set a record by welcoming 1.28 million tourists to its extraordinary attractions such as Jais Flight—the world's longest zipline—Bear Grylls Explorers Camp, and the '1484 by Puro' restaurant, the highest-elevation dining experience in the Hospitality Holding, led by CEO Alison Grinnell, plays a key role in this sector, further integrating tourism and hospitality through strategic hotel acquisitions and innovative leaders agree that Ras Al Khaimah is one of the region's fastest-growing markets, with beachfront apartments, luxury villas, golf communities, and lifestyle hubs continuing to attract both investors and residents. The Emirate's 2030 Vision remains central to this evolution, with its inclusive, sustainable strategy placing people at the heart of progress. With more developers, investors, and residents joining from across the globe, Ras Al Khaimah is positioning itself as a true benchmark for smart cities, vibrant communities, and opportunity-driven living.
