Oaks Hotels, Resorts & Suites signs first property in Saudi Arabia
Minor Hotels, a global hospitality group operating more than 640 properties in 60 countries, announced the signing of a development agreement for Oaks Residences Riyadh. The project, undertaken with Tabarak Holding, marks the brand’s entry into the Saudi market and also includes plans for future NH Collection hotels in Cairo, Egypt.
The agreement was signed during the TOURISE Summit, organized by the Saudi Ministry of Tourism, and was witnessed by Minor Hotels Group CEO Dillip Rajakarier and Tabarak Holding Chairman Aly El Shorbany, together with senior executives from both companies.
Oaks Residences Riyadh will comprise 146 premium long‑stay apartments located in the capital’s central district. The development will feature a swimming pool, fitness centre, retail and leisure spaces, and is scheduled for conversion and opening in 2026.
“We are pleased to formalise the Oaks Riyadh project with Tabarak Holding, reinforcing our long‑term commitment to Saudi Arabia’s rapidly growing tourism and real‑estate sector,” said Dillip Rajakarier. “The brand will bring a new level of extended‑stay hospitality to the Kingdom and support its diversification goals.”
Under the same partnership, Minor Hotels will introduce the NH Collection brand to Egypt. Two properties are currently in the design phase and are expected to open in 2029, offering contemporary design and European‑style luxury.
Ali Al Shorbany, Chairman of Tabarak Holding, added: “Our collaboration with Minor Hotels will expand our presence in the regional hospitality market and create distinctive projects that enhance tourism and real‑estate development in both Saudi Arabia and Egypt.”
The new assets increase Minor Hotels’ portfolio in the Middle East and Africa, which now spans fourteen countries. The group aims to reach 100 properties in the region, representing an investment value of more than US $6 billion by 2030.
Source: media.minorhotels.com
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