Ashaad Company has announced its new project located on the beachfront of Al Khobar City in the Al Hamra district, with a total investment of SAR 855 million, in collaboration with **Alawwal Capital**.
This follows the approval of the **Capital Market Authority** to launch the **Al Hamra Real Estate Fund** as a private closed-end fund. The fund aims to develop a **luxury five-star hotel** on the beachfront land in Al Hamra, Al Khobar.
The hotel will feature **25 floors** and include **580 keys** distributed among rooms and suites, in addition to a **royal suite** considered the most luxurious in Saudi Arabia, with an area of **688 square meters**.
It will also include a **ballroom and conference hall** covering **1,867 square meters**, **21 meeting rooms** with a total area of **3,400 square meters**, **three fine-dining restaurants**, a **cinema hall**, **two health clubs** (for men and women), multiple facilities and services, and a **panoramic rooftop pool** overlooking both the sea and the city.
The hotel will also feature a **helicopter landing pad**, a requirement for the “luxury five-star” classification, making it **the largest and most luxurious in the Eastern Province**.
The property will be **operated by one of the world’s leading hotel operators**.
Ashaad Company continues to dedicate its efforts to advancing the real estate and tourism sectors in Saudi Arabia, leaving a distinctive mark through its various projects across the Kingdom.