Saudi Hotels and Resorts Co. Signs a Partnership Agreement with KEC

Saudi Hotels & Resorts Company announces signing of partnership agreement with Knowledge Economic City Co. (KEC) on 09/09/2012 to establish a limited liability company under the name of Makarim Knowledge Hospitality Co., with capital of SR (21,400,000) which will be shared equally, later the capital will be raised on stages to reach SR (214,000,000) and as per the project development. The finance of the capital share will be from the company internal resources. 

The project contains ownership, construction & management of integrated complex that includes hotel, suites, offices, shops & multipurpose halls within the zone of KEC, the hotel will be operated by Makarim Hospitality Group (The operation arm of Saudi Hotels & Resorts Co.)