The Saudi-based hospitality brand was launched by the His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud
Boutique Group, a new Saudi-based hospitality brand will manage and convert a collection of historic palaces into luxury boutique hotels in Saudi Arabia.
The initiative was announced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Council for Economic and Development Affairs, and Chairman of the Public Investment Fund (PIF).
The first phase of the project will focus on the development of three historic palaces
Al Hamra Palace will offer 33 luxury palace suites and 44 luxury villas in Jeddah. Tuwaiq Palace will comprise 40 will be luxury palace suites and 56 luxury villas. Red Palace will have 46 luxury suites and 25 luxury guest rooms. guest rooms. Both Tuwaiq and Red palace are located in Riyadh.
The Red Palace is considered the first reinforced concrete building constructed in Riyadh city in 1944 and the Tuwaiq Palace is one of the most prominent historical and cultural landmarks in the city of Riyadh, built in 1980.
PIF governor of Yasir Al-Rumayyan said: “His Royal Highness the Crown Prince’s launch of the Boutique Group underlines PIF’s mandate to unlock the capabilities of promising sectors in Saudi Arabia that can help drive the diversification of the economy and contribute to non-oil GDP growth.”
For more information, visit www.boutiquegroup.com