Riyadh: Governor of the Northern Borders Region Prince Faisal bin Khalid bin Sultan bin Abdulaziz inaugurated the M¶venpick Hotel Wa’ad Al Shamal in a ceremony attended by Minister of Industry and Mineral Resources Bandar Alkhorayef, Vice Minister of Mining Affairs Khalid bin Saleh Al-Mudaifer, and several government and private sector officials.
According to Saudi Press Agency, the hotel was built with an investment exceeding SAR500 million in the Wa’ad Al Shamal Industrial City, owned by the Saudi Authority for Industrial Cities and Technology Zones (MODON). It represents a significant addition to the five-star hospitality sector in the northern and eastern regions of Saudi Arabia.
The hotel is designed to meet the growing demand for accommodation and hospitality services for workers, investors, residents of the industrial city, and visitors in the region. This new establishment is expected to enhance Wa’ad Al Shamal’s appeal as an investment and industrial hub, thus improving the region’s infrastructure.
Furthermore, the governor emphasized that improving hospitality services and infrastructure in Wa’ad Al Shamal aligns with the endeavor to bolster comprehensive development, attract local and international investments, and advance the objectives of Saudi Vision 2030. These efforts aim to diversify income sources and enhance the quality of life in the region.
During the ceremony, the governor also observed the signing of cooperation agreements between Ma’aden and several companies, including Thyssenkrupp Uhde, the Social Development Bank, M¶venpick Hotel Wa’ad Al Shamal, and Jac Rijk. These agreements aim to boost factory efficiency, establish and manage a financing portfolio for social responsibility initiatives, provide hospitality services, engage with the community, and streamline phosphate ore extraction and processing.