German hospitality brand Steigenberger Porsche Design will have multiple bespoke properties in the Kingdom. Image Credit: Supplied

Dubai: Saudi Arabia will have a ‘Porsche Design’ boutique hotel after a MoU between Tourism Development Fund and Deutsche Hospitality. It sets up the first ever ‘Steigenberger Porsche Design’ hotel in the region.

The properties will have a minimum of 150 rooms, backed up by bespoke health and beauty facilities, a gym and wellness area. It thus becomes the latest hospitality brand to sign for a presence in the Kingdom, to populate the mega mixed-use destinations being created.

“The project will cater to the sophisticated needs of the Saudi market, creating a unique and innovative experience within the Kingdom’s luxury lifestyle hotel segment,” said Marcus Bernhardt, CEO of Deutsche Hospitality, which is the umbrella brand of the German hotel company Steigenberger Hotels AG.

TDF - launched in 2020 with a capital of $4 billion - helps private investors to participate in the Kingdom’s tourism sector. This takes the form of planning the project to providing support from various government agencies. The Fund’s programme also extends to direct financing, bank guarantees, and co-financing with banks.

Through this collaboration – which will result in first of its kind hospitality offerings – we continue to enhance the Kingdom’s tourism offering under the National Tourism Strategy.

- Qusai Al-Fakhri, CEO of TDF