The event will be held in Hong Kong from November 29 to December 4.
The decision is said to have required close collaboration between the World Squash Federation (WSF), the Professional Squash Association (PSA) and the Women's International Squash Players' Association (WISPA) - and a major reorganisation of the international calendar.
The men's Saudi International Squash Open will now move from the slot required for the World Opens to 16-20 December. This follows the fixed points of the Qatar Classic from 22-27 November and the Men's World Team Championship from 8-14 December.
A special provision has been made to hold the qualification tournament for the Saudi event in the UK in November, to minimise player travel disruption in late December when airlines are busy.
WSF Chief Executive Christian Leighton said: "I believe that the Hong Kong Squash will stage an extraordinary showcase for two World Opens which all fans and media, as well as the players, can really look forward to.
“The venue details and plans, to be finally confirmed, will provide a memorable occasion as well as creating an iconic location to promote the best professional squash has to offer."
