Al Hokair Group, Jabal Omar ink SAR 500 mln lease contract

12/06/2017 Argaam

Abdulmohsen Al Hokair Group for Tourism and Development Co.’s leasing agreement with Jabal Omar Development Company for the Jabal Omar Marriott Hotel is valued at SAR 500 million, both companies said in separate statements.

 

Al Hokair Group signed the contract with Jabal Omar on June 9.

 

The annual lease is valued at SAR 33.5 million from the first to the 14th year.

 

Meanwhile, the 15th year lease is valued at SAR 31 million, the statements added. 

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