Industry Update
Press Release22 January 2020

Taiba inks deal with Hilton for DoubleTree Jeddah King Abdullah Square

Taiba Confirms Its Commitment To Pursue its Portfolio Expansion within KSA

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Arabian Hotel Investment Conference (AHIC)

Riyadh, KSA - Taiba Investments Co. (TDWL: 4090) today announced the signing of DoubleTree by Hilton Jeddah King Abdullah Square Hotel and Suites, marking its 1st hotel in Jeddah, the second largest city in Saudi Arabia.

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DoubleTree by Hilton Jeddah King Abdullah Square Hotel and Suites, which is expected to open in 2024, will offer guests 250 contemporary and stylish guest rooms, in addition to 200 apartments.

The hotel will feature four food and beverage offerings including a specialty restaurant, Lobby Café, Pool Café and all day dining restaurant, offering guests a great choice of lite bites and full meals throughout the day.

The hotel will also feature a number of meeting rooms, multi-purpose halls, and a large ballroom, in addition to a fitness center, pool and kids club.

Eng. Saleh Al-Habdan, CEO of Taiba Investments Company, stated: "We are pleased to partner with the well-established and well-known international hotel company, Hilton. We are eager to choose our partners carefully, as their prestige and expertise matters in the first place to increase efficiency levels at our hotel projects with added value to our shareholders and the society, and contributing effectively to the economic growth in the Kingdom while creating memorable experiences for our guests."

Eng. Al-Habdan also stressed on the continued support of Taiba company and its great belief in the Kingdom's 2030 Vision, which is achieved through its investments in the tourism sector which is an important part of the Kingdom's non-oil economy.

Commenting on the signing, Carlos Khneisser, Vice President Development Middle East and North Africa, Hilton, said: "We are delighted to be partnering with Taiba Investments Company as the operator of this incredible new hotel. Our DoubleTree brand is a perfect fit for the location and proves our ongoing commitment to supporting the Saudi Arabian government's Vision 2030 and drive for more tourists to visit the country to explore its culture and great natural beauty."

The agreement was signed on behalf of Taiba company by Eng. Al-Habdan and by Mr. Carlos Khneisser on behalf of Hilton at the SHIC conference in Riyadh.

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About AHIC 2020

AHIC, now in its 16th year, is the annual gathering for the Middle East's hospitality investment community organised by global hotel investment event organiser Bench Events in partnership with Middle East business intelligence brand, MEED. AHIC creates a knowledge and networking platform for global and regional investors of all backgrounds, offering essential insights to investing in hotels, showcasing regional and international hospitality investment opportunities and facilitating direct connections with hospitality industry stakeholders. AHIC 2020 will be held at Madinat Jumeirah in Dubai from 14 April to 16 April and hosted by its founding patron, His Highness Sheikh Ahmed bin Saeed al Maktoum, Chairman of Dubai Airports, President of Dubai Civil Aviation Authority and Chairman and CEO of Emirates Airline and Group, whose continued support of the industry and AHIC has been critical to the region's tourism growth.

AHIC 2020 Sponsors

Sponsors include: Jumeirah Group as Host Sponsor; Accor, Al Hokair Group, Marjan, and Dur Hospitality as Platinum Sponsors; Emaar Hospitality Group, Millennium Hotels and Resorts and Marriott International as Emerald Sponsors; and Alkamal International, febc, Insignia, JA Resorts & Hotels, Knight Frank, Louvre Hotels Group, Melia Hotels International, Shaza Hotels, SSH, and STR as Gold Sponsors. Al Tamimi and Company, and MMAC Design Associates are the Silver Sponsors, while The Emirates Academy of Hospitality Management is a Supporting Partner.

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