Dur Hospitality signs MoU to develop project in Madinah

Dur Hospitality Co. signed a non-binding memorandum of understanding (MoU) with The General Authority of Awqaf to study the establishment of a company to develop a land plot number (125) in Madinah, located in the northern area of Al Masjid in Nabawi.

Dur will work on completing the required studies to establish the company, which will be 49 percent owned by them and 51 percent by The General Authority of Awqaf, the company said in a bourse statement.

The land spans over an area of 1,379 square meters and will be used to build and operate a 5-star hotel under the brand Makarem.