MEFIC REIT seals management, operation contract with Boudl Hotels

Logo of MEFIC REIT Fund

MEFIC REIT Fund signed a 12-year contract with Boudl Hotels and Resorts to manage and operate Drnef Ajyad Hotel and Drnef Kudai Hotel in Makkah, fund manager MEFIC Capital said in a statement to Tadawul.

Drnef Ajyad Hotel comprises over 220 rooms, and services facilities, while Drnef Hotel Kudai features more than 85 hotel rooms, along with its services facilities.

The relevant financial impact is expected to be positive, and any related updates will be duly revealed, the statement added.

Boudl Hotels and Resorts manages Narcissus Hotels, Braira Hotels, Aber Hotels, and Boudl Hotel Apartments.