King Abdullah Economic City (KAEC) has announced a landmark agreement with Vivienda, a well-known hospitality brand owned by the Forus Real Estate Investment and Development Company in the kingdom, for setting up a luxury resort within KAEC.
As per the deal, Vivienda has acquired 29,000 sq m plot of land from KAEC for the construction of its integrated tourism complex (ITC) within the prime development centrally situated on the Saudi Arabian coast of the Red Sea.
The hospitality project will feature a mix of 60-key boutique hotel, 20 luxury villas as well as 24 serviced apartments.
