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Al Balad in deal to operate Jeddah Historic District hotels

RIYADH, February 26, 2024

Al Balad Development Company, a subsidiary of Saudi wealth fund (PIF), has been signed up by Saudi Ministry of Culture to operate all the heritage hotels in the Jeddah Historic District. 
 
The move is aimed at developing the tourism sector in the area, enhance the level of services provided to tourists and visitors, and offer exceptional experiences to visitors of Jeddah Historic District that enable them to learn about the history of Jeddah and experience Saudi Culture, said Al Balad in a statement.
 
Jeddah Historic District Program oversees the regeneration of Al Balad, which includes over 600 historic buildings and is restoring the heritage hotels while preserving the unique architectural features according to the highest international standards aligned with the guidelines of Unesco, which classified Jeddah Historic District in 2014 as a World Heritage Site.
 
These properties will be handed over to Al Balad after the completion of the restoration and rehabilitation work, it stated.
 
Speaking on this occasion, Abdulaziz bin Ibrahim Al Issa, the Director General of Jeddah Historic District Program, said: "As part of our efforts to provide an exceptional experience for our visitors in a destination that has been and will always be on the map of hospitality inherent in its people, we are pleased today to complete the restoration of some heritage buildings to be an ideal hotel accommodation for our guests, in partnership with Al Balad Development Company to manage and operate them, in an integration that represents an important step in our endeavor to revive the area and provide a series of interconnected options for visitors to live an integrated experience. This is just the beginning of a larger cooperation aimed at providing a diverse hospitality experience."
 
Al Balad Development Company CEO Jamil bin Hassan Ghaznawi, said: "As the main developer for Al Balad, we work in close integration with the Jeddah Historic District Program to achieve a common goal, which is to revive the Jeddah Historic District “Al Balad” and make it an attractive destination for business and investment and a global tourism destinations. This signing is just a step on the way to greater cooperation between the two parties.”
 
Jeddah Historic District Program said as per the agreement, once the restoration and rehabilitation work get completed, it will hand over the heritage hotels to the Saudi PIF compaany for operating them through its Al Balad Hospitality arm. 
 
The hotels include 34 heritage houses that will offer unique and authentic hotel experiences for visitors, combining authenticity, history, and modern amenities in the heart of Jeddah Historic District.-TradeArabia News Service



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