InterContinental Hotels Group (IHG) and Rayadah Investment Company, a subsidiary of the Public Pension Agency of Saudi Arabia, announced the signing of a Crowne Plaza in the Information Technology and Communication Complex (ITCC). The signing will mark the first Crowne Plaza property in Riyadh in alignment with IHG's expansion plans to strengthen the brands presence within the Kingdom of Saudi Arabia. The signing of the 326 room Crowne Plaza Riyadh ITCC took place at a press conference held at InterContinental Riyadh. Present at the signing were Mohammed Bin Abdullah Al-Kherashi, governor of the Public Pension Agency and chairman of the Board of Rayadah Investment Company and John Bamsey, chief operating officer, IHG Middle East and Africa. Also present at the signing were Eng. Saud Al-Malag, Projects director, Bander Harbi, vice president Operations IHG, Saudi Arabia and Rani Gharbié, director of Development IHG, Middle East and Africa. Rayadah Investment Company has committed SR6.2 billion for the development of the ITCC project, a community designed to attract and host advanced technology, information and communication companies providing them a platform to establish their regional operations in Saudi Arabia. The ITCC will consist of commercial and residential buildings, governmental service buildings, banks, restaurants and recreational activities. Along with the ITCC, Rayadah Investment Company will be the master developer of the King Abdullah Financial District. “Saudi Arabia has the potential to be a booming business hub for the Middle East and projects such as the ITCC will increase the country's competitiveness in the region's technology sector. At the same time, this reflects the increase in demand for specialty business communities that in turn attract inbound business travel,” said Al Kherashi. “Crowne Plaza Riyadh ITCC will cater to the expected increase of business travellers in Riyadh's core expansion area, as it continues to develop.” Crowne Plaza Riyadh ITCC will include approximately 5,000 square meters of meeting space including a high tech conference center. The hotel will also feature a variety of dining options such as an all day dining restaurant and a specialty restaurant. IHG has experienced positive growth throughout the Kingdom.
