KEC inks deal with OYO to operate 1,500 rooms in Madinah

18/02/2020 Argaam

 

Knowledge Economic City (KEC) signed a memorandum of understanding (MoU) with OYO Oravel Technology to manage and operate 1,500 rooms in the Islamic World District in Madinah, the company said in a bourse filing on Tuesday.

 

The MoU is valid for two years and there are no related parties.

 

The deal will not have any financial impact for now, the statement added.

 

The Islamic World District will provide affordable, high-quality accommodation to pilgrims and visitors in line with Saudi Vision 2030, which aims to increase the total number of Umrah and Hajj visitors to 30 million.

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