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IHG Hotels & Resorts has announced the signing of a management agreement with Al Aqeeq Real Estate Development Company for Crowne Plaza Taiba Riyadh.

The Saudi company is a wholly-owned subsidiary of Taiba Investments.

Located on Makkah Al Mukarammah Branch Road, in proximity to the King Faisal Specialist Centre and the Diplomatic Quarter of Riyadh, the new-build hotel is scheduled to open in 2025.

Speaking on the announcement, Haitham Mattar, managing director, India, Middle East & Africa, IHG said: “With the signing of Crowne Plaza Taiba Riyadh, we continue to expand our footprint in the kingdom.

“Our premium brand, Crowne Plaza, is a perfect fit for modern business travellers who desire a seamless transition between work and rejuvenation and therefore supports the business and leisure tourism offer put forth in Vision 2030.

“We are also honoured to have a partner in Taiba Investment, which is known for experience and expertise in the sector.

“The new-build hotel will greatly benefit from increasing demand from the centre and enhance the city’s hospitality offerings.”

The hotel will offer 192 rooms and 110 serviced apartments and will provide a holistic experience for transient and extended-stay guests alike.

“We are pleased to be partnering with IHG to develop our new hotel in the capital city of Riyadh,” added Saleh Habdan Al-Habdan, chief executive of Taiba Investments Real Estate Company.

IHG currently operates 37 hotels in Saudi Arabia across five brands including InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites and voco.

A further 23 hotels are in the development pipeline, due to open within the next three to five years.