Riyadh – Mubasher: Knowledge Economic City announced that its subsidiary, Al Gharra International for Real Estate Development, has signed an agreement with Hilton to operate a new hotel project.

The agreement involves engineering consultations during the design and execution period through the Hilton’s DoubleTree hotel brand.

The 20-year contract’s value depends on the hotel’s revenues, and the financial impact of the deal cannot currently be evaluated, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

Knowledge Economic City owns 80% of the real estate development firm.

 

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.