Taiba's subsidiary terminates 2 hotel management contracts in Madinah

23/02/2021 Argaam

Logo of Taiba Investments Co.

Taiba Investments Co.’s fully-owned subsidiary, AlAqeeq Real Estate Development Co., terminated agreements signed with Millennium & Copthorne Middle East Holdings Ltd., effective as of today, Feb. 23, 2021.

 

The operations of the hotels in Madinah - AlAqeeq Millennium Hotel and Taiba Millennium Hotel - will continue under the direct management of AlAqeeq Real Estate Development, Taiba said in a bourse filing today, Feb. 23, 2021.

 

The termination of the contracts with Millennium & Copthorne Middle East may have a financial impact which cannot be estimated at present, the statement noted.

 

Any updates will be disclosed in due course.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.