Accor is expanding its footprint in the Kingdom’s capital with the signing of a 170-key serviced apartment property, the very first Novotel Living to operate in Riyadh. The newly built property is set to open in 2026.
The Group continues to expand its partnership with Al Raya Estate Group, a pioneer company in real estate development and investment in Kuwait and GCC, with whom Accor will open the Swissotel Living Jeddah shortly.
“Al Raya Real Estate is pleased launch its second serviced apartments project in the Kingdom in partnership with our operating partner Accor. We believe that there is a great opportunity in the market for quality serviced apartments products. The ambitious vision to double the population of Riyadh and turn it into one of the top 10 cities in the world for economic output by 2030 is a major factor why we have chosen Riyadh to develop a world class extended stay project under the Novotel Living brand”, mentioned Fahad Al-Alloush, CEO of Al Raya Real Estate.
Novotel Living Riyadh will be strategically located directly on King Fahd Road, Riyadh’s main arterial road connecting all corners of the city. Moreover, guests travelling for business or leisure will benefit from the convenient proximity to King Abdullah Financial District, iconic business, and lifestyle area in the heart of Riyadh, and Digital City.
“We are pleased to expand our footprint in the Kingdom and add Novotel Living Riyadh to our extended-stay portfolio”, said Mark Willis, CEO of Accor India, Middle East, Africa and Turkey. “Indeed, we have seen an increasing appetite from both guests and investors for extended stay offerings in the Kingdom and are confident that the Novotel Living Riyadh will set the benchmark for its segment in the market.”
With the unique interior concept designed by the Sundykovy Sisters, Novotel Living Riyadh will feature a mix of studios, one-bedroom apartments and two-bedroom apartments, a main restaurant with indoor and outdoor seating, a Clubhouse and a Grab & Go Concept, meeting spaces, fitness centre and a swimming pool.
Accor currently operates 40 properties in Kingdom of Saudi Arabia (15,173 rooms) with 33 more properties (7,549 rooms) in the pipeline.