This project involves construction of Time Hotel on King Fahd Road in Riyadh. Construction of a three-star hotel comprising (26) floors offering (96) rooms and suites, an all-day restaurant, indoor/outdoor cafe, three meeting rooms and a health club. UAE-based hospitality brand, Time Hotels Management, has signed an agreement with Saudi Arabia-based Al Fahd Investments to form a joint venture hospitality company. Al Fahd Hospitality has a budget of over US $600 million, to fund its present and future pipeline of properties which currently consists of seven mainly mid-market hotels, which are all due to open within the next two years. Under the terms of agreement, Time will operate hotels in Riyadh and Al Qurrayat as well as provide consultancy services on the hotel portfolio.