Taiba awards SAR 377.5 mln Riyadh hotel project on land owned by Al Aqeeq Real Estate

07/10/2021 Argaam

Logo of Taiba Investments Co.

Taiba Investments Co. awarded the main contractor’s works for its hotel project in Riyadh, that will be built on a land owned by its subsidiary, Al Aqeeq Real Estate, at a total value of SAR 377.5 million, the real estate developer said in a bourse statement.

 

The land, spanning a total area of 11,073 square meters, is located on Al-Olaya neighborhood.

 

The project will be implemented by the main contractor, Al-Saad General Contracting Co. Ltd.

 

The hotel is comprised of 18 floors with 302 suites, apartments and luxury rooms, in addition to hotel services, a commercial center, recreational centers, a health club and car parking.

 

There are no related parties to the deal, Taiba added.

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