Extended stay brand Cheval Collection has signed a partnership agreement to launch its brand in Saudi Arabia.
A deal with local developer Ladun Investment Company will see the construction of Cheval’s first project in the country.
Cheval Ladun Living will be built on King Fahd Road, near the King Abdullah Financial Centre in Riyadh. A new build tower will feature 130 luxury apartments in a mix of sizes to suit guests from single business travellers, to families, from one to three rooms. All will have access to the block’s amenities, which will include a swimming pool and sauna, plus a gym. Construction is expected to begin during 2024, with completion expected in time for a launch in 2027.
“The growing demand for furnished apartments presents an opportunity to strengthen the Cheval Collection brand, leveraging our decades-long expertise in luxury serviced apartments,” said John Philipson, chief operating officer at Cheval Collection.
Growing Middle East presence
The Riyadh project will build Cheval’s presence in the region, which will launch next year with the opening of Cheval Maison at Expo City Dubai.
“Cheval Ladun Living marks a significant milestone for us in real estate development,” said Dr Hassan bin Shawqi Alhazmi, CEO of Ladun Investment Company. “It signals Ladun Investment’s position in this sector, with a commitment to delivering high-quality projects aligned with Saudi Vision 2030.” Ladun is listed on the Saudi Parallel Market and has more than 50 years of experience in investment, real estate development, and asset management in the region.
A business with three brands
Cheval Collection operates hospitality locations under three brands: Cheval Residences, Cheval Maison and MY Locanda. The recently launched MY Locanda name is a new urban brand designed to broaden the group’s aparthotel offering, appealing to guests and residents with an independent, youthful mindset, whether they are leisure or business travellers.
Originally launched in London, where it now has nine properties offering extended stay living, the group has also added three properties in the Scottish capital, Edinburgh, and has a further pipeline property in Glasgow, where 70 apartments are scheduled to be ready to welcome guests in 2026. The company recently signed its properties up to the Global Hotel Alliance, recognising the value of being part of a larger, global distribution network and loyalty programme.
