The King Abdullah Financial District Development and Management Company (KAFD DMC) has signed an agreement to open an Equinox Hotel in Saudi Arabia’s prime financial district.
Alongside Gautam Sashittal, KAFD DMC Chief Executive Officer, Equinox Hotels was represented by CEO, Christopher Norton in a signing ceremony held at KAFD. Equinox Hotels embodies a holistic philosophy and has redefined luxury as the ultimate experience in travel and health as a seamless extension of a life well-lived. Equinox Hotels is one of the key anchors to the largest private mixed-use real-estate development in the US. The highly successful Equinox Hotel New York is the brand’s flagship that continues to grow its global footprint.
KAFD DMC owns and manages the King Abdullah Financial District (KAFD), the largest mixed-use development in the region and Saudi Arabia’s prime financial hub. Strategically located in the heart of Riyadh, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class venues and iconic luxury residences and is the largest LEED-certified mixed-use financial district in the world. A landmark development, KAFD is a cornerstone initiative of Vision 2030.
“Saudi Arabia is one of the few countries in the world that saw a rise in tourism investment and expenditure during the Covid-19 pandemic with domestic tourism increasing by 33.6% and over SAR80 billion spent by tourists,” said Gautam Sashittal, KAFD DMC CEO. “Now, as the Kingdom cements its presence on the world stage as a business and leisure destination, these numbers will be dwarfed, and as the prime business destination in the Kingdom, KAFD will contribute to tourism and business travel numbers. We look forward to working with Equinox Hotels to strengthen the value of our services and attract more visitors to Riyadh.”
Commenting on the partnership, Christopher Norton, CEO of Equinox Hotels, added, “We’re excited to bring our lifestyle offering to the Middle East, building on our decades-long experience in health and high-performance luxury.”
It is expected that the new Equinox Hotel and KAFD will incorporate the company’s trademark luxury lifestyle experience offering a variety of programming, services and 275 spacious guest rooms and suites.