Saudia Arabia investor hunts for Jamaica hotel investment
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Following a visit to Jamaica in July by a large delegation of Saudi government and business interests, one major participating Saudi investor confirmed with Tourism Minister Edmund Bartlett that he is now actively searching for a significant hotel investment on the island.
Saif Khalid Al Khelaiwi, executive vice president of Boudl Hotels and Resorts, noted that while they always heard about Jamaica they were stunned by its beauty and the natural charm of its people. He noted that the company was very interested in purchasing an existing hotel and or actively exploring other potential interests in the space. He was speaking with Bartlett, who is leading a small high-level team of tourism officials at the World Travel Market in London on Monday.
Boudl Hotels and Resorts was established in 1959 under the name of Saleh Naser to Khelaiwi and Sons Co. In a few years, the company was able to open a number of hotels throughout the KSA & Kuwait.
Through its journey of success, the company created the Boudl brand which became the first brand in the hospitality field in KSA.
Last July, a group of 65 Saudis was led on the one-day trip to Jamaica by Saudi Arabia’s Deputy Minister for Investors Outreach, Badr Al Badr. They flew to Jamaica for a briefing on and tour of investment opportunities across Kingston and Montego Bay in St James.
Prime Minister Andrew Holness and Senator Aubyn Hill, minister of industry, investment and commerce, led government engagements with the delegation.
CARIBBEAN A PRIORITY ZONE FOR INVESTMENTS, BUSINESS PARTNERSHIPS
Holness, in remarks to the delegation in July, noted as a “serious sign”, the fact that “you (Saudi delegation) would have flown halfway around the world to come to this region to visit Jamaica”.
In his remarks, Badr said it was “especially important” for the group, “because the Caribbean has become a priority zone for investments and business partnerships for Saudi Arabia”.
He emphasised that Jamaica, as the third largest economy in the region, “is a key partner, a key player and a key leader” in this regard.
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