Saudi sovereign wealth fund PIF has announced that its key hospitality unit, Boutique Group, has appointed the lead architect and interior designer for a landmark project that aims to transform a historic royal palace into an ultra-luxury hotel in Riyadh.

A key entity, Boutique Group aims to merge the Kingdom of Saudi Arabia's culture and heritage with contemporary elegance to develop historic and cultural places into ultra-luxury boutique hotels.

Announcing this today (October 23), PIF said the award-winning international firm Aedas, known for applying research-based architecture and adopting local and global knowledge, along with Tristan Auer, an interior and emotion architect with extremely rich and aesthetic vision, together will be designing The Red Palace, one of the three royal palaces Boutique Group is transforming into world-class ultra-luxury hotels in the kingdom of Saudi Arabia.

The Red Palace in Riyadh was constructed in the early 1940s by King Abdulaziz Al Saud, the founding monarch of Saudi Arabia, to serve as the residence and administrative centre for his son, King Saud bin Abdulaziz Al Saud.

Notably, it was the country's first concrete building, marking a significant milestone in Saudi Arabia's architectural history.

Throughout its history, The Red Palace hosted international receptions and royal banquets, welcoming heads of state, government officials, and other prominent figures.

Later, it served as the Council of Ministers' headquarters for over three decades and housed the Court of Grievances until 2002.

Mark De Cocinis, CEO of Boutique Group, said: “Our transformation project will protect The Red Palace's key architectural and design features, creating a compelling guest experience by combining the new function of the palace as an ultra-luxury hotel, while preserving its original character and celebrating the Kingdom’s rich architecture and history.”

“Saudi Arabia is on a journey of unprecedented diversification of its economy under Vision 2030, and we are committed to supporting the transformation of the Kingdom’s tourism and cultural sectors,” he stated.

Ignacio Gomez, Global Design Principal of Aedas, said: “Our design aims not to simply recreate a physical space but rather to evoke a sense of time, specifically the solemnity and grandeur associated with the emotional importance of the kingdom's history and its future vision."

"We want to create an experience that would transport visitors to a different era, immersing them in the rich heritage of the palace while also reflecting its significance in the present and future," he added.

Located in the heart of old Riyadh, The Red Palace will offer more than 70 keys, 26 deluxe rooms, 44 luxury suites, a royal suite and public event spaces, eight spa suites, and five high-end food and beverages outlets.

Apart from this, Boutique Group is also transforming Tuwaiq Palace, an architectural landmark in Riyadh, and AlHamra Palace in Jeddah.

Tristan Auer, interior designer for The Red Palace, said: "The interior design concept for The Red Palace is centered on smoothly integrating an Art Deco pattern that complements the palace's regal ambiance with the natural surroundings and royal landscapes while complementing the historical significance of the palace."

"We place significant emphasis on enhancing the palace's architectural allure and contributing to its overall magnificence. Our ultimate goal is to respect the palace's heritage while providing a luxurious and contemporary experience for guests," he added.

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