Fairmont Residences

Naif AlRajhi investment and Accor debut Fairmont luxury serviced residences in the Middle East

Riyadh: Naif Alrajhi Investment company and Fairmont Hotels & Resorts announce a global first – the debut of a standalone luxury serviced residence with the signing of the Fairmont Ramla Serviced Residences, Riyadh in the Kingdom of Saudi Arabia. Fairmont Ramla Serviced Residences, Riyadh is set to open in 2020. The project will feature 249 serviced residences featuring one, two and three-bedroom units and 4-bedroom penthouses, with ample space and maximize comfort. Naif Saleh Alrajhi, Chairman and Chief Executive Officer of Naif Alrajhi Investment commented: “Fairmont Ramla Serviced Residences, Riyadh symbolizes the start of an important and fruitful relationship with Accor. We are delighted to partner with Accor, and their unparalleled presence in Saudi Arabia, to further expand and diversify our real estate portfolio through the launch of the region’s first standalone Fairmont serviced residences. We are confident that the property will become an unforgettable, landmark luxury destination in the Kingdom through its services, dining options and bespoke amenities.” Mark Willis, Chief Executive Officer at Accor Middle East and Africa, said: “Today’s announcement is an important milestone for Fairmont, with the launch of the brand’s first standalone luxury extended stay property in the world. The announcement also marks the beginning of a new relationship with Naif Alrajhi Investment, with whom we share a unique vision to redefine luxury extended stay in the Kingdom.” Ideally situated between King Fahd Road and Olaya Street, the property offers business and leisure guests the luxury facilities and services with close proximity to several up-and-coming high-profile developments both commercial and medical, and easy access to King Khalid International Airport and King Abdullah Financial District. Guests and residents will have the opportunity to indulge in world-class food and beverage options at the all-day dining restaurant and lobby lounge. To further accentuate the luxury extended stay elements on offer, the development will feature an extensive food and beverage plaza with three specialty dining concepts that enters the Saudi markets for the first time. The luxury extended stay project will also include exclusive amenities for guests to create memorable moments, including a dedicated cinema room, lounge and kid’s play area. For guests focused on wellness and rejuvenation, Fairmont Ramla Serviced Residences will feature a health club including sauna and steam rooms for both men and women, in addition to tranquil pools located on the 35th floor offering breathtaking views of Riyadh in a dramatic setting. Fairmont Ramla Serviced Residences joins an iconic and celebrated portfolio of over 75 Fairmont properties globally including The Plaza in New York, The Savoy in London, Fairmont Grand Del Mar, Fairmont Jakarta, Dubai’s Fairmont The Palm and Fairmont Peace Hotel in Shanghai. Fairmont Riyadh Serviced Residences will complement the recently opened Fairmont Riyadh, expanding the luxury brand’s footprint within the Kingdom of Saudi Arabia. Designed by Nikken Sekkei, a world-renowned Tokyo-based architect, Fairmont Ramla Serviced Residences, Riyadh, incorporates a modern and eclectic design aesthetic. The facade of the tower is layered with paneling and a structured central pattern, allowing the property to stand out as an iconic landmark in the capital city skyline. -Ends- About Fairmont Fairmont Hotels & Resorts is where occasions are celebrated and history is made. Landmark hotels with unrivalled presence, authentic experiences and unforgettable moments have attracted visitors to Fairmont and its destinations since 1907. The Plaza in New York City, The Savoy in London, Fairmont San Francisco, Fairmont Banff Springs and Fairmont Peace Hotel in Shanghai are but a few of these iconic luxury hotels, forever linked to the special places where they reside. Famous for its engaging service, grand public spaces, locally inspired cuisine and celebrated bars and lounges, Fairmont promises a special brand of thoughtful luxury that will be remembered long after any visit. With a worldwide portfolio of more than 75 hotels, Fairmont also takes great pride in its deep community roots and leadership in sustainability. Fairmont is part of AccorHotels, a world-leading travel and lifestyle group which invites travelers to feel welcome at more than 4,600 hotels, resorts and residences, along with some 10,000 of the finest private homes around the globe. About Accor Accor is a world-leading augmented hospitality group offering unique experiences in 4,900 hotels and residences across 110 countries. The Group has been acquiring hospitality expertise for more than 50 years, resulting in an unrivaled portfolio of brands, from luxury to economy, supported by one of the most attractive loyalty programs in the world. Beyond accommodation, Accor enables new ways to live, work, and play, by blending food and beverage with nightlife, wellbeing, and co-working. It also offers digital solutions that maximize distribution, optimize hotel operations and enhance the customer experience. Accor is deeply committed to sustainable value creation and plays an active role in giving back to planet and community via its Planet 21 – Acting Here program and the Accor Solidarity endowment fund, which gives disadvantaged groups access to employment through professional training. Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook. About Naif Alrajhi Investment Headquartered in Riyadh with a presence in Dubai and London, Naif Alrajhi Investment has a portfolio of over 350 investments through 35 companies in more than 12 unique sectors, including real estate development, hospitality, food & beverage, mining, architecture, interior design and contracting, IT, manufacturing and marketing. fairmont.com | accorhotels.com For further information contact: Shona Mac Sweeney Accor Middle East & Africa +971565021265 shona.macsweeney@accor.com Sammar Hattab Accor Middle East (Saudi Arabia & Egypt) +966 56 831 6033 sammar.hattab@accor.com Nour El Alia Naif Alrajhi Investment +966551753373 nelalia@nalrajhi.com © Press Release 2019

Saudi Arabia · 9 Sep 2019