MAS Engineering Wins SAR 589 Million Contract to Build Riyadh Complex Featuring 345-Room Hotel

Al Ajlan Real Estate is developing the Limar project, with nearly 135,000 square metres of built-up area, including a five-star hotel, 10 office buildings and more than 50 retail units.

Saudi-based MAS Engineering & Construction has secured a SAR 589 million contract to develop the Limar Commercial Complex, a mixed-use project in Riyadh, for Mohammed Saad Al Ajlan Real Estate, according to information published in the contractor's official company profile.

The development will feature a five-star hotel with 345 rooms, alongside office buildings, retail outlets and landscaped outdoor areas, within a complex covering a total built-up area of 134,642 square metres.

The project brings together hospitality, business and retail facilities within a single integrated development.

The hotel will form one of the main components of the Limar project, rising 22 storeys and offering 345 guest rooms.

The development will also include 10 office buildings, more than 50 retail units, open spaces and outdoor facilities.

MAS Engineering & Construction has identified InterContinental as the hotel's operator in its corporate profile. However, no details have been announced regarding the hotel management agreement, operating arrangements or expected opening date.

MAS Engineering & Construction, headquartered in Dammam, announced the contract award on November 9, 2026, adding another major project to its portfolio of hospitality and commercial developments.

According to information published by the company, Zuhair Fayez Partnership and Cracknell are involved in the project's design, while Khatib & Alami is among the consulting firms associated with the development.

The SAR 589 million contract reflects the scale of the construction works but does not necessarily represent the project's total investment value.

The overall development cost may also include land acquisition, hotel furnishings and equipment, financing expenses and other components not covered by the announced contract.

The developer has not disclosed the construction schedule, expected completion date or planned opening timeline.

The tourism significance of the Limar project lies primarily in its hotel component, which is expected to add 345 five-star rooms to Riyadh's accommodation supply upon completion.

By combining hospitality with offices and retail facilities, the development creates an environment where hotel guests can access business and commercial services within the same complex.

This model may be particularly relevant to business travellers, corporate visitors and guests attending meetings or commercial activities in the Saudi capital.

From an investment perspective, integrating a hotel with office and retail properties provides the development with several potential revenue streams.

However, such projects also require coordinated management of shared facilities, visitor circulation, operational services and the different requirements of hotel guests, office tenants and retail customers.

The identity of the hotel operator, the terms of the management agreement and the opening schedule will be important factors in assessing the property's future position within Riyadh's hospitality market.

Actual demand, room rates and occupancy levels will become clearer only after operations begin.

At this stage, the project's confirmed significance lies in the award of its construction contract and the announced scale of its hospitality and commercial components. No sufficient data have been released to estimate investment returns or measure its eventual impact on Riyadh's hotel market.