Taiba to acquire Rotana Centro hotels in Riyadh and Jeddah from Shuaa for $87m
Published 27 May,2021 via Arab News - Economy RIYADH - Saudi Arabia’s Taiba Investments has struck an initial agreement to acquire two hotels in the Kingdom from Shuaa for SR328 million ($87 million).
The proposed deal covers the Centro Waha Hotel Riyadh and Centro Shaheen Hotel Jeddah, the company said in a Saudi stock exchange filing on Thursday.
The plan is “in line with the Taiba’s strategic direction to focus on real estate investment and development and as part of its efforts to avail of attractive real estate investment opportunities in various cities of the Kingdom,” it said in the statement.
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