Dur Hospitality to build staff housing at SAR 27.31 mln

12/05/2015 Argaam
Dur Hospitality, previously known as Saudi Hotels and Resorts, signed on Monday a SAR 27.31 million contract to develop a residential complex for its employees.
 
The self-financed project will be executed over a period of 18 months starting from the date its contract was signed.
 
Dur did not disclose the name of the firm that was awarded the project. 
 
The complex will be executed on Dur’s land located in Riyadh on a plot that’s over 7,000 square meters. The units will help the company meet its strategic expansion plans, as it will need extra accommodation units for its growing staff.
 
Financial impact will appear in first quarter 2017 results.

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