Oaks Hotels, Resorts & Suites Signs First Property in Saudi Arabia

Press Releases » อังคาร 25 พฤศจิกายน 2568 14:48 น.

Minor Hotels, a global hospitality group with a portfolio of over 640 properties in operation and pipeline across 60 countries, has announced the signing of Oaks Residences Riyadh, marking a significant addition to its growing portfolio in Saudi Arabia. The agreement, signed in partnership with Tabarak Holding, also includes future projects in key locations in Cairo, Egypt under the NH Collection brand.

Oaks Hotels, Resorts & Suites Signs First Property in Saudi Arabia

The signing took place during the TOURISE Summit, powered by the Saudi Ministry of Tourism, and was attended by Dillip Rajakarier, CEO of Minor Hotels and Group CEO of Minor International, and by the chairman of Tabarak Holding Mr.Aly El Shorbany and Group VPs. This occasion highlights both groups' alignment with the region's rapidly evolving tourism landscape. Oaks Hotels, Resorts & Suites Signs First Property in Saudi Arabia

Located in the heart of the Saudi capital, the Oaks Residences Riyadh will feature 146 upscale residences designed for long-stay comfort, complemented by premium lifestyle amenities including a swimming pool, fitness centre, retail and leisure spaces. The property is an immediate conversion project and is expected to welcome residents in 2026.

Dillip Rajakarier, CEO of Minor Hotels and Group CEO of Minor International, said: "We are delighted to announce the signing of Oaks Residences Riyadh in partnership with Tabarak International, reinforcing our long-term commitment to Saudi Arabia's fast-evolving tourism and real estate sector. This project represents an exciting opportunity to extend the Oaks brand into a key regional market and further support the Kingdom's ambitions for growth and diversification."

As part of the same agreement, Minor Hotels and Tabarak Holding will also introduce the NH Collection brand to Egypt. Two properties, currently in the planning and design phase, are expected to open in 2029, bringing together modern design, premium comfort, and the brand's signature European sophistication.

Ali Al Shorbany, Chairman of both Tabarak International and TBK Developments added: "This collaboration with Minor Hotels represents a strong step forward in expanding Tabarak's footprint within the regional hospitality sector. Together, we aim to create distinctive developments that contribute to the evolution of tourism and real estate in both Egypt and Saudi Arabia."

These latest additions strengthen Minor Hotels' Middle East & Africa portfolio, which currently spans fourteen countries, as the group continues its strategic expansion to bring a total of 100 properties across the region valued at more than US $6bn by Owner-Induced Investments by 2030.

Minor Hotels Strengthens Profitability with 7% Lift in Q3

Operational efficiency and disciplined financial management deliver stronger margins amid volatile operating environment Minor Hotels has delivered a resilient third-quarter performance, with profitability rising on the back of improved operational efficiency across its global portfolio of more than 600 hotels, even as market conditions softened in parts of Asia. In the third quarter, Minor Hotels reported a core profit of THB 1.85 billion (approx. USD 57 million), representing a 7% increase

25 พฤศจิกายน 2568 14:48 น.

Oaks Hotels, Resorts & Suites Signs First Property in Saudi Arabia

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Minor Hotels Strengthens Profitability with 7% Lift in Q3