Riyadh, Saudi Arabia— Taiba Investments of Saudi Arabia has given a $115 million contract to Saudi Arabian Construction Company (ACC) to build the Sheraton Taiba Hotel in Madinah.
According to a bourse filing. the company’s vision is to develop multiple real estate and hospitality projects.
The hotel will feature two towers connected by a bridge at the upper level with public and dining areas.
Taiba has posted a profit of $14.97 million for H1 of 2022, wiping out losses of $4.02 million for the same period of last year.
Taiba Investments Co., listed on the Saudi main index, specializes in investing in real estate, tourism, mining, agriculture, and trade, as well as maintenance and operational activities.