Riyadh – Mubasher: NCB Capital Company announced the mutual termination of the contractual relationship to operate the hotel adjacent to Alandalus Mall operated by Holiday Inns Middle East Limited.
The hotel will continue to operate and serve its customers by its own staff temporarily, according to a stock exchange filing on Tuesday.
NCB Capital noted this event is not expected to have a material effect on the AlAhli REIT Fund 1’s income at the moment.
Further developments related to the operation of the hotel will be announced in due course.
Source: Mubasher
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