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FINANCIAL NEWS
Saudi Dur Hospitality to construct three-star hotel in Yanbu
17 Jun 2015
(MENAFN) Saudi Arabia’s Dur Hospitality signed a deal that will allow it to build a three-star hotel over a plot of about 7, 600 square meters in Yanbu, according to official statements, Saudi Gazette reported.
The transaction involves a forty years land lease and it is set with cooperation from the Royal Commission for Jubail and Yanbu. The goal for Dur is to build hotels in developing cities across the Kingdom.
This project is expected to take about three years once the architectural design is complete, and it will be reflected on the company’s financial statement in the third quarter of 2018.
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