Taiba to convert into real estate development company

01/02/2017 Argaam

Taiba Holding Co.’s board of directors on Wednesday approved a new restructuring strategy to help it face local and global market challenges.

 

Under the 2021 plan, Taiba will convert into a real estate development company from a multi-investment firm, the company said in a statement to the Saudi bourse.

 

It will also implement several strategic and operating initiatives to grow its investments, expand geographical presence, and offer a wide range of real estate products to fulfill pent-up demand.

 

The company will enhance its performance and productivity through a new organizational structure that will include core business activities in investment and real estate development sectors.

 

The new structure will be gradually adopted, Taiba added. 

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