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15/12/2025 05:58 AST
Saudi-based Taiba Investments Company has announced that one of its key subsidiaries, Smart Hotel Zone Company, had signed a construction contract with Al Saad Contracting Company for a key hotel project within the STC Square mixed-use development in Riyadh.
The project comprises a 159-key hotel featuring a rooftop swimming pool and a fitness club, said Taiba Investments Company in its filing to Saudi bourse Tadawul. It is set for completion within two years.
As per the SAR181.5 million ($49 million) deal, Al Saad Contracting will be responsible for execution of construction works for a Marriott-branded hotel at the STC Square complex.
The hotel will adopt a contemporary design and incorporate advanced technological solutions in guest rooms as well as in hotel management and operations. It will also include meeting rooms and a range of restaurants, it stated in the bourse filing.
The financial impact of the project is expected to be reflected after completion and readiness for operation, which is anticipated in the first quarter of 2028, it added.
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| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MASAR | 18.42 | 0.14 (0.76 |
| JABALOMAR | 15.27 | 0.11 (0.72 |
| DARALARKAN | 15.90 | 0.01 (0.06 |
| MCDC | 84.95 | 1.95 (2.34 |
| CENOMICENTERS | 19.90 | 0.15 (0.75 |
15/12/2025
Commercial Bank has launched Qatar's first Metaverse-enabled 'Auto Marketplace' on the CBQ Mobile App.
Through this innovation, customers can now explore a fully interactive, virtual showroo
Gulf Times
15/12/2025
Bank Nizwa, a leading Islamic bank in the Sultanate of Oman, has announced the appointment of Tariq bin Atiq as its new Deputy Chief Executive Officer and Chief Operations Officer, in line with its o
Trade Arabia
15/12/2025
Bank ABC, a leading player in the region's banking industry, said it has once again been named 'Transaction Bank of the Year - Middle East in 2025' by The Banker (Financial Times), marking the third
Trade Arabia
15/12/2025
Dar Al Majd Real Estate Company (Al Majdiah) has announced that it has signed an agreement with the Jadwa Al Manzel Real Estate Fund for the development of three residential projects worth SAR265 mil
Trade Arabia
15/12/2025
Saudi-based Alkhorayef Water and Power Technologies Company has announced that it has secured a major contract from National Water Company (NWC) for wastewater projects in the Hafer Al Batin governor
Trade Arabia
Financial Information Co.
Saudi Arabia