SICO Saudi REIT inks MoU to study operation of 3 hotels in Makkah

02/10/2022 Argaam
Logo of SICO Saudi REIT Fund

Logo of SICO Saudi REIT Fund

SICO Saudi REIT  signed, on Oct. 1, a non-binding memorandum of understanding (MoU) with Al-Forsan Al-Zahabia Co. to study operating three hotel properties in Makkah, fund manager SICO Capital said in a bourse filing

 

These properties are Eskan Towers 4, 5 and 6. 

 

The lease contract for Eskan Tower 5 expired in December 2021, while the lease contracts for the other two will expire in December 2022, the statement added.  

 

No relevant impact was determined. 

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