Real estate company Blacksand and Marriott International have signed a SR5 billion ($1.33 billion) agreement to develop 10 hotels in Saudi Arabia, announced at the Future Hospitality Summit in Riyadh. The deal is expected to create nearly 11,000 jobs covering construction and operation, providing 1,300 rooms over the next four years.
Job Creation and Saudi National Employment
The companies aim to generate over 6,000 full-time roles, with 60 percent of those dedicated to Saudi nationals. Blacksand CEO Omar Alabdullatif told Arab News that the first development, called The Business Address, is set to open next year, while Town Center is earmarked for 2028. The 10 hotels represent around SR5 billion in investment, with Blacksand already involved in a SR40 billion pipeline of projects across Saudi Arabia.
Targeting Hospitality Gaps
Alabdullatif said the developments are targeting gaps in the Kingdom's hospitality market. The agreement includes what he described as the first private-sector St. Regis resort in Saudi Arabia, alongside hotels planned for Misk City's West Hall development and the Metro One project next to Sulaiman Al Habib Hospital. He noted that the Misk-adjacent area currently has almost no hotels, and there is a lack of branded three-star accommodation, with many travelers seeking rooms priced between SR500 and SR600, while existing branded hotels can cost significantly more.
Farm Resorts and Cultural Integration
The CEO also revealed that Blacksand is working on three farm resorts, which will be part of Marriott’s Autograph Collection, incorporating the cultural aspect of “Istirahas” — private rest houses that many Saudi families own or rent for recreational and social activity. He said: “It’s an excellent product, a lot of people in the country and even expats love it. We wanted to add a global twist, let’s say, so we’re getting Marriott’s expertise in hospitality and having them operate in Istiarahs.”
Marriott's Perspective
In a press release, Jerome Briet, chief development officer for Europe, Middle East and Africa at Marriott International, said: “This landmark deal with Blacksand reflects Marriott’s continued focus on diversifying our portfolio across Saudi Arabia to deliver meaningful hospitality experiences in line with the country’s tourism priorities. From immersive resort escapes and design-led stays to vibrant social hubs and extended-stay living, we look forward to introducing a range of experiences tailored to meet the evolving needs of travelers visiting the Kingdom.”
