Press Release

Press Release

Assila Investments and Shangri-La Sign MOU for Management of New Luxury Hotel in Jeddah

Shangri-La International Hotel Management Limited and Assila Investments have signed a Memorandum of Understanding in relation to the management and operation of a luxury hotel and residences development in Jeddah, the second-largest city in Saudi Arabia and the principle gateway to Mecca.  Slated to open in early 2018, it will be the first Shangri-La in Saudi Arabia.

The 242-room hotel will be in a prominent 65-storey development located on Jeddah Corniche Road facing the Red Sea.  Shangri-La will also manage and provide services to the 122 residences in the tower.  The hotel will feature three restaurants, function rooms, including a three-story grand ballroom, luxury spa and fitness areas, a swimming pool, children’s club and several lounges.

The building’s dramatic design, by global architecture and design firm Perkins+Will, was the recipient of the 2009 MIPIM Architectural Review ‘Future Project Award’ for ‘Best Tall Building’.  The tower is situated perpendicular to the shoreline to maximise water views and optimise solar exposure, and its exterior ‘skin’ features synthetic fabric architectural sails that shade the interior spaces, protect balconies from wind, maintain privacy and house LED lights that create a distinctive pattern over the surface of the building.

“We are excited about the prospect of developing the first Shangri-La branded hotel in Saudi Arabia and look forward to working closely with the Shangri-La team to bring its renowned hospitality to Jeddah,” said Abdullah Alissa, the CEO of Assila Investments.

“Jeddah is both an important commercial hub and Saudi Arabia’s primary resort city.  By partnering with Assila, we will add another exciting and iconic property to our global collection of hotels and resorts and further strengthen our portfolio in the Middle East,” said Shangri-La President and CEO Greg Dogan.

About Assila Investments 

Assila Investments (formerly known as MASC Holdings) is a diversified holding company with multi-billion interests across many industries, including banking, food, hospitality and real estate. Assila Investments is a closed joint-stock company owned by Mohammed Ibrahim Alissa and his family.

Hong Kong-based Shangri-La Hotels and Resorts, one of the world’s premier hotel companies, currently owns and/or manages 98 hotels under the Shangri-La brand with a room inventory of over 40,000.  Over four decades the group has established its brand hallmark of ‘hospitality from the heart. The group has a substantial development pipeline with upcoming projects in mainland China, Cambodia, Hong Kong, India, Myanmar, Philippines, Saudi Arabia and Sri Lanka.  For more information and reservations, please contact a travel professional or access the website at