Saudi Arabia’s Crown Prince Mohammed bin Salman has unveiled ‘Boutique Group’ to develop historical palaces into luxury boutique hotels, the Kingdom’s Public Investment Fund (PIF) announced on Thursday.
Boutique Group is a “a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in Saudi Arabia into ultra-luxury boutique hotels.
The company will revive the vibrant heritage and culture of Saudi Arabia to create a new and unique hospitality experience,” the PIF announced in a statement on Thursday.
Specialists assured Asharq Al-Awsat that the project enhances the Kingdom’s tourism level both regionally and internationally.
They indicated that PIF is witnessing qualitative leaps in terms of projects that aim to diversify the country’s sources of income.
Majed Al Hokair, General Manager and CEO of Abdul Mohsin Al Hokair Company, told Asharq Al-Awsat that the launch of the Boutique Group by the Crown Prince is an important step towards enhancing tourism in Saudi Arabia.
It does so by offering unique quality projects that enable visitors to have a different and attractive experience that reflects the country’s position as a leading tourist and cultural destination.
Hokair added that PIF is moving towards its goals in launching mega projects that contribute to the development of the local economy and diversify the country’s sources of income.
Developing historical and cultural palaces in Saudi Arabia and transforming them into ultra-luxury boutique hotels is an important step to diversify the opportunities that the tourism market enjoys, Hokair clarified.
The CEO pointed out that this experience exists in many countries of the world and has the advantage of living in historical sites, while at the same time reviving heritage places that reflect the authentic Saudi character.
The first phase of the project will focus on the development of three palaces including al-Hamra Palace in Jeddah, Tuwaiq Palace and Red Palace in Riyadh.
Al-Hamra Palace will reportedly offer 77 keys, including 33 luxury palace suites and 44 luxury villas in Jeddah. Tuwaiq Palace will provide 96 keys of 40 luxury palace suites and 56 luxury villas. Whereas Red Palace will offer 71 keys, including 46 luxury suites, and 25 luxury guest rooms.