King Abdullah Financial District Awards Upcoming Hospitality Project to SAUDICO and ALEC FITOUT

Riyadh, Saudi Arabia, 14th February 2024

King Abdullah Financial District Development & Management Company (KAFD DMC) today awarded a contract for the complete fitout design and implementation for the district’s latest hospitality destination to the joint venture between SAUDICO and ALEC FITOUT.

TMarking the occasion with a signing ceremony at KAFD were Gautam Sashittal, Chief Executive Officer at KAFD DMC, and SAUDICO CEO, Bashir Al Azem. Also in attendance were top executives from both firms in the joint venture, including Kadir Karademir, Chief Operations Officer at SAUDICO, and Laurent Farge, Managing Director, at ALEC FITOUT.

Located in the heart of Riyadh, KAFD is a premier business and lifestyle destination that epitomises the core values of Vision 2030. “With a targeted tourist inflow of 150 million visitors by 2030, Saudi Arabia is all set to showcase its authentic history and hospitality through world class destinations featuring the finest of facilities and experiences, a fact that is front and center to KAFD’s unique lifestyle offering. . With yet another state-of-the-art marvel emerging in our iconic district, it was only natural for us to partner with SAUDICO and ALEC FITOUT given their track record in delivering aesthetically pleasing and sustainable projects across the Kingdom and the GCC,” said Sashittal.

The new 16-storey hotel will feature 210 rooms and have a built-up area (BUA) of 26,500m2. LW, a firm that has developed over three hundred hospitality projects from the ground up, have designed the interiors of the property, while ALEC FITOUT and SAUDICO will be entrusted with all aspects of fitout design completion and implementation including civil and structural works, furnishings, MEP, sanitaryware & accessories, lift interiors, kitchen & laundry equipment, and certain landscaping, hardscaping and facade works.

Commenting on the expertise of the consortium that enables it to deliver on the Kingdom’s most ambitious entertainment and leisure projects, Farge of ALEC FITOUT said, “We are delighted to be selected by KAFD DMC for this undertaking which will further elevate the district’s status as the heart of Riyadh’s thriving business community. This is a testament to the expertise we have developed in reliably delivering awe-inspiring, high-quality fitouts within tight timeframes, and on budget. We look forward to working closely with our partners – SAUDICO – to ensure this milestone hospitality project is another highlight in this prestigious business district.”

The win for SAUDICO and ALEC FITOUT comes shortly after their successful completion of the iconic Diriyah Gate Visitor Centre which serves as an immersive and ultra-high luxury hospitality and exhibition venue, offering business leaders, tourists, social media influencers and prospective investors a dynamic showcase of the remarkable experiences and investment opportunities within the overall Diriyah Gate Development site.

The incredible opportunities being created by our Kingdom’s forward-focused leadership warrant the deployment of top talent, and the implementation of the industry’s highest standards and best practices. Our synergy with ALEC FITOUT ensures that no matter how ambitious the project, our clients can have confidence that their vision will be realised beyond their expectations. We thank KAFD DMC for placing their trust in us, and affording us the opportunity to add another prestigious project to our rapidly growing portfolio of successes,” said Karademir of SAUDICO.