Starwood deal gives struggling Riyadh district second chance

(Westin)

Riyadh's hotel scene keeps getting better. Saudi Real Estate has reportedly agreed to build two Starwood Hotels & Resorts properties next to a planned international business zone in the capital.

When the projects are completed, Starwood will manage a five-star Westin hotel and a four-star Element hotel. Saudi Real Estate, which owns the land, did not share any other details of the hotel's construction plans.

The project will be adjacent to the multibillion-dollar King Abdullah Financial District, which was launched in 2006 for banks and the financial regulator but has reportedly struggled to attract tenants.

The government said in April that it would rescue the financial district by transforming it into a special business zone with competitive regulations, visa exemptions for foreigners working there and direct connections to Riyadh's international airport.

Source: Arabian Business