The Aman Hegra
Aman Resorts Plans for 42-key property in Hegra, Saudi Arabia
Aman Resorts is partnering with KUN Investment Holding and AlUla Development Company to create the Aman Hegra project.
Photo by Aman
The project will include an expansive Aman resort featuring 42 hotel and villa keys and 30 branded private residences available for purchase. The project will cover a prime eight million square meters site in Hegra, Saudi Arabia's first UNESCO World Heritage Site.
In the presence of His Highness Prince Badr bin Abdullah bin Farhan Al Saud, who serves as the Minister of Culture, Governor of the Royal Commission for AlUla, and Chairman of the Board of Directors of AlUla Development Company, a strategic Shareholders' Agreement has been signed between KUN Investment Holding and AlUla Development Company, fully owned by the Public Investment Fund (PIF).
The agreement aims to jointly own and develop the Aman Hegra project, a collaborative venture to introduce distinctive hospitality and residential initiatives in AlUla, Saudi Arabia.
The signing ceremony, held in AlUla, was attended by KUN Investment Holding Chairman, Mr. Abdullah Saleh Kamel, and AlUla Development Company managing director, Naif Saleh AlHamdan. Eng. Mohammed N. Hefni, CEO of KUN Investment Holding, and Fabien Toscano, CEO of AlUla Development Company, officially formalized the collaboration by signing the momentous agreement.\
Mohammed N. Hefni, CEO of KUN Investment Holding, said "We are delighted to announce the collaboration with AlUla Development Company on the Aman Hegra project. This groundbreaking development marks an important moment in Saudi Arabia's tourism and hospitality landscape aligning with the Kingdom's vision 2030.
"KUN's expertise in crafting exceptional real estate experiences will play a pivotal role in ensuring the project's essential success. While, leveraging the invaluable expertise of world-renowned consultants and an award-winning international architectural practice, will position Hegra project as a leading luxurious destination."
Naif Saleh AlHamdan, MD of AlUla Development Company, added: "As we embark on this transformative journey with KUN Investment Holding for the Aman Hegra project, we are dedicated to crafting not just a lifestyle and hospitality experience, but authentic and memorable destinations in the historical city of AlUla.
"We look forward to working together as we enable the transformation of AlUla into a place to visit, live and invest."
Fabien Toscano, CEO of AlUla Development Company, concluded: "The collaboration with KUN Investment Holding represents a groundbreaking step in our mission to build and operate elevated assets in AlUla. The Aman Hegra project aligns with our commitment to fostering sustainable environments, unlocking the potential of this remarkable destination."
In terms of ownership, KUN Investment Holding will hold 80 percent, while AlUla Development Company will hold 20% of the joint venture. KUN Investment Holding will take the lead in developing the project with strategic support from AlUla Development Company.