TBK International, Tabarak Holding’s development arm in the Gulf, and Minor Hotels, a global leader in hospitality industry, announced the signing of a strategic cooperation agreement to launch the “Oaks Riyadh” project in the Kingdom of Saudi Arabia, marking the first-ever entry of the Oaks brand into the Saudi market. The agreement also includes the development of new projects under the NH Collection brand in key locations across Egypt through TBK Developments, Tabarak Holding’s development arm in Egypt, strengthening the presence of both parties across the regional hospitality sector.
The agreement was signed during the “TOURISE Summit” held in Riyadh under the patronage of the Saudi Ministry of Tourism, in the presence of Ali Al Shorbany, Chairman of Tabarak Holding and Dillip Rajakarier, CEO of Minor Hotels and CEO of Minor International, alongside senior executives from both entities, reaffirming their shared commitment to supporting the continued growth and development of the tourism and real estate sectors in the region.
Located in the heart of the Saudi capital, the “Oaks Riyadh Suites” project features 146 premium residential unites carefully designed to provide the highest levels of comfort for long-term stays. The project includes a full range of modern lifestyle amenities and services, including a swimming pool, health club, fitness center, and dedicated retail, recreation and entertainment spaces. The project is being delivered on a fast-track development timeline, with the first phase scheduled to open in early 2026, following the completion of development works in line with the highest global hospitality standards. This initiative aligns with Saudi Vision 2030, reinforcing a shared commitment to world-class hospitality services and achieving sustainable development.
Commenting on the agreement, Ali Al Shorbany, Chairman of Tabarak Holding, stated: “This collaboration represents a strategic step that strengthens the presence of Tabarak Holding in one of the fastest-growing hospitality markets in the region. The introduction of the Oaks brand to Saudi Arabia and the launch of new NH Collection projects in Egypt through TBK Developments reflect our shared vision to develop world-class hospitality products that elevate guest experience and meet the evolving aspirations of our markets across the Gulf and Egypt.” He added: “We remain committed to expanding our portfolio through value-driven developments, in partnership with global leaders capable of creating meaningful impact across the tourism and real estate sectors.”
In this context, Dillip Rajakarier, CEO of Minor Hotels and CEO of Minor International, commented: “We are delighted to announce the signing of Oaks Riyadh in partnership with TBK International, reinforcing our long-term commitment to Saudi Arabia’s fast-evolving tourism and real estate sector. This project represents an exciting opportunity to extend the Oaks brand into a key regional market and further support the Kingdom’s ambitions for growth and diversification.”
Under this agreement, Minor Hotels and Tabarak Holding will introduce the NH Collection brand to Egypt through new projects already in the planning phase, scheduled to open in 2029. These projects aim to provide an exceptional hospitality experience that combines contemporary design, premium comfort, and the refined European elegance associated with the NH Collection brand, enhancing Egypt’s appeal as a destination for tourism and business. The developments form part of Minor Hotels’ strategic expansion plan in the Middle East and Africa.
As part of Tabarak Holding’s local expansion in Egypt, TBK Developments, continues to play a central role, supported by a 4.8-million-square-meter land bank and strategic investments in flagship mixed-use projects including 90 Avenue in New Cairo featuring residential, commercial and hospitality components, Key of Greens in Sheikh Zayed, centered on expansive green spaces and premium villas and Keystone in New Cairo, a fully integrated administrative, medical, commercial and entertainment complex. Together, these projects position TBK Developments as a key player in the Egyptian real estate development sector.
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