Al Kathiri board approves setting up subsidiary with SAR 1M capital

01/01/2025 Argaam
Logo ofAl Kathiri Holding Co.

Logo of Al Kathiri Holding Co. 

Al Kathiri Holding Co.’s board of directors, on Dec. 31, 2024, approved the establishment of a new wholly-owned subsidiary, Saraya Al Diyar Investment Co, a limited liability company with a capital of SAR 1 million.

 

In a statement to Tadawul, the company said it is subject to obtaining the necessary approvals and licenses from the relevant authorities.

 

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Saraya Al Diyar Investment will focus on high-quality investments in the hospitality and hotel sectors through the development of modern retail and entertainment facilities, as well as contemporary and integrated hotel destinations that meet the needs of the local market.

 

The company will also adopt the latest global standards in design and operation to deliver an exceptional hospitality experience.

 

The new company is part of Al Kathiri Holding’s strategy to strengthen its business portfolio, diversify its activities into promising sectors, enhance its competitiveness, and ensure sustainable growth in the long term, the company indicated.

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