Emaar EC shareholders to approve commercial contracts

11/12/2017 Argaam

 

Emaar The Economic City (Emaar EC) shareholders will discuss approving contracts inked with Emaar Properties’ Rove Hotels and Amlak International during the company’s general meeting on Dec. 21, 2017, the company said in a statement to Tadawul.

 

Shareholders will vote on the 20-year management contract inked with Rove Hotels, a joint venture between Emaar Properties and Meraas Holding, to operate a hotel in King Abdullah Economic City for 1.75 percent of proceeds and between 0 percent and 8 percent of operating profit.

 

They will also endorse contracts signed with Amlak International For Real Estate Finance to sell residential units.

 

In addition, shareholders will approve the nomination and remuneration committee regulations.

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