Jeddah: Palaces known for their historical and cultural heritage are being developed and converted into luxury hotels. Amir Mohammed bin Salman, Crown Prince and Chairman of the Public Investment Fund, announced the launch of the ‘Boutique Group’. The Crown Prince said the plan was to renovate the palaces and turn them into luxury boutique hotels. It aims to revive the national heritage along with the culture of the country and to create an extraordinary and unique hospitality experience. Implemented in collaboration with private investors.
In the first phase, three historical sites will be developed. The Alhamra Palace in Jeddah, the Tuwaiq Palace in Riyadh and the Red Palace are being renovated. The Alhamra Palace in Jeddah will have 77 rooms, including 33 luxury suites and 44 luxury villas. The Tuwaiq Palace in Riyadh will have 96 rooms, including 40 luxury suites and 56 luxury villas. The Red Palace in Riyadh will have 71 rooms, including 46 luxury suites and 25 luxury guest rooms.
The ‘Boutique Group’ will also integrate modern lifestyles that enrich the luxury hospitality sector and contribute to the development of the local economy. The company offers a number of options for the best international restaurants. The new resorts will provide a relaxing atmosphere. The Crown Prince also said that special services will be provided to each guest. Treasury Governor Yasir Al-Rumayan said the announcement by the Crown Prince’s Boutique Group was a confirmation of the role of the public investment fund in the country.
It will contribute to achieving the Fund’s goals of diversifying the Saudi economy. It will also help diversify the tourism potential of the Saudi market. The Governor of the Saudi Investment Fund said that in line with the objectives of Vision 2030, the country will further enhance its position as a major tourist and cultural hub, both locally and internationally.