Costing $533 million to build, The District redevelopment project is being designed by award-winning USA based architectural firm Gensler
Luxury hospitality and property management company Al Khozama Company says the the start of the second phase of its ‘ambitious The District Al Faisaliah’ redevelopment project has commenced.
Costing $533 million to build, The District redevelopment project is being designed by award-winning USA based architectural firm Gensler. It is scheduled for completion in 2024.
Incorporating Al Faisaliah Tower, Al Khairiah Towers, Al Faisaliah Hotel, Al Faisaliah Suites, Hotel Al Khozama and the Mode Al Faisaliah Mall in the Olaya District, the developer said phase two “will further strengthen the global recognition of Riyadh as the ultimate Middle East destination city linking true Saudi heritage with world-class hospitality, retail and entertainment.”
Work on the first phase began in 2017 and featured the refurbishment and expansion of the Mode Al Faisaliah Mall, extending its square-metre footprint by 20 percent, “to offer premium retail space of 35,400m², and to introduce internationally renowned restaurant brands to the Kingdom, including Yauatcha, Meraki, Mamo Michelangelo, La Petite Maison and La Brasserie.”
The nearby Al Faisaliah Hotel is also currently undergoing renovation as part of this phase ahead of its completion in 2021.
The second phase is described as incorporating futuristic architectural design with intelligent urban planning. According to Al Khozama Company the design: “Is intended to create the perfect integration of contemporary retail, commercial, entertainment, hospitality, well-being and residential living.”
A nine screen cinema is also set to be built in the redevelopment with fully landscaped outdoor green areas also planned. Visitors will be able to gain direct access to the Riyadh Metro or use a five-level underground parking facility for more than 1,000 cars.
The existing Hotel Al Khozama, one of the first to open in Riyadh, is set to close this month and be replaced by 2024 with a new replaced with a contemporary 5-star successor. The new property will comprise 200 guest rooms and suites, two restaurants, connected meeting rooms, a ballroom, spa & health club, and pool deck.
“The strategy followed by Al Khozama Company is aligned with the Kingdom’s 2030 Vision in creating new benchmarks and opportunities for excellence, and contributing to the country’s long-term success. The District is one such example,” said H.H. Prince Bandar bin Saud bin Khalid Al Saud, chairman, Al Khozama.
Khalid Saud Abu Haimed, CEO, Al Khozama Company added: “Under the leadership and direction of our Chairman, we are proud to achieve significant success in hospitality, retail centres and F&B to create an unrivalled lifestyle and unique experience for the Saudi community and its guests.”