The Al Khozama and Al Fahd investment teams at the press conference announcing the deal. The Al Khozama and Al Fahd investment teams at the press conference announcing the deal.

Al Khozama has signed agreements with Al Fahd Investment Company to manage two new properties in Al Khobar, which marks the entrance of the Al Faisaliah brand to the city.

The 240 key five-star Al Faisaliah Hotel & Spa and the four-star deluxe Al Khozama Residence, which will offer 150 serviced apartments, are set to open their doors in 2016 to cater for leisure and business guests.

Al Khozama chairman, H.H. Prince Bandar bin Saud bin Khalid said: “The new properties in Al Khobar add yet another dimension to our hospitality management portfolio, consolidating Al Khozama’s leadership position and extending our contribution to the development of tourism and hospitality in the Kingdom.

“We are delighted to partner with Al Fahd Investment Company on these landmark projects. Our hospitality team will ensure a sophisticated product and matchless service which are the hallmarks of Al Khozama”.

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In addition to the Al Faisaliah Hotel & Spa and Al Khozama Residence in Al Khobar, Al Khozama also manages the Al Shohada Hotel in the holy city of Makkah and Bay La Sun Hotel & Marina in King Abdullah Economic City, north of Jeddah.

Al Khozama owns its flagship Al Faisaliah Hotel and the Al Faisaliah Suites in Riyadh.