| Element List | Explanation |
|---|---|
| Description of the Event | Riyad Capital ("Fund Manager") announces the opening and flagging of the JW Marriott Hotel Riyadh as Saudi Arabia's first JW Marriott. The property was formerly known as Burj Rafal Riyadh. |
The Fund Manager stated that the development of the hotel has achieved the first milestone in the improvement plan (Phase I) to deliver a unique luxury corporate destination in the new business center near KAFD, strategically located on King Fahad Road and within proximity to major businesses, government entities, and entertainment areas in Riyadh.
The Fund Manager revealed that the first phase of the improvement plan enhances the arrival experience and introduces new high-end amenities and food and beverage outlets. The remaining phases of the improvement plan will commence in accordance with the strategy set by the Fund Manager to achieve the optimal returns to unit-holders.
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