Al Kathiri, Aseer Municipality ink MoU for commercial-hospitality project

Logo of Al Kathiri Holding Co. 

Al Kathiri Holding Co. signed a memorandum of understanding (MoU) with Aseer Municipality to establish and operate a mixed-use commercial and hospitality project on municipally-owned land plot in Al Dabab, Abha.

The project spans 53,300 square meters, featuring a hotel as well as retail and entertainment facilities, according to a Tadawul statement today, Nov. 12.

The MoU was signed on the sidelines of Cityscape Global 2024 held at the Riyadh International Convention & Exhibition Center.

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The company said the MoU supports its strategic goal of diversifying its investment portfolio into new segments for sustainable, long-term value.

The MoU lasts 90 days from its signing and can be renewed for a similar term under mutual agreement.

No related parties are involved. The related financial impact is currently undetermined. Further updates will follow.