Sunday, Jun 18, 2017
Dubai: Emaar Properties said on Sunday its unit Emaar Hospitality will manage its first hotel in Saudi Arabia.
“We would like to clarify that entering into [a] hotel management agreement is in the normal course of business [for] Emaar Hospitality,” Emaar Properties said in a statement posted on Dubai Financial Market’s website. The agreement is not expected to have a material impact on Emaar Properties’ financials, the company said.
Emaar Properties shares fell 0.88 per cent to close at Dh7.93 in a weak Dubai market.
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