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FINANCIAL NEWS
Qatar’s JIG to set up 3 five-star hotels in Saudi
02 Apr 2012
(MENAFN) Al-Jazeera International Group’s (JIG) Chairman, Jassim bin Nasser Al-Thani, said that the company would construct 3 hotels in Saudi, valued at USD399 million, reported Arab News.
The Chairman added that the firm, one of the main business houses in Qatar, would set up 1 hotel and a shopping mall in Ahsa, whereas the second hotel would be built in Alkhobar, both is Saudi’s Eastern Region, and the third hotel in Riyadh.
He also said that the contract for the five-star hotel in Riyadh, which would be located opposite to the Kingdom Tower and would include 20 stories, would be inked during the next 3 months.
It is worth noting that the 13 storied, 200-room five-star hotel and shopping mall projects in Ahsa would occupy an area of 45,000 sq m and would be executed in 2 years.
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