Dur Hospitality to build SAR 47 mln hotel in Jubail

02/01/2017 Argaam

Dur Hospitality Co. has awarded Khobar-based Ibrahim Asmael General Contracting (IAGC) a SAR 47.13 million contract to develop a hotel in Jubail Industrial City.

 

The project will be built on two land plots with a total area of 10,040 square meters, provided by the Royal Commission of Jubail and Yanbu, Dur said in a statement to the Saudi bourse.

 

The 144-room hotel, which comprises a business centre, spa and swimming pool, will be managed by Holiday Inn, as part of a franchising deal signed with InterContinental Hotels Group.

 

The project will be built in 20 months, starting from the announcement date, and it will be financed from the company’s own funds, along with bank loans.

 

Dur said it expects the financial impact to show on Q2-2019 results, while adding that the hired contractor is not a related party.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.