INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Masar signs $1.86 bn pact for construction of seven hotels in Makkah

The project involves the construction of seven hotel towers. (SPA)
  • Baytur Construction Company appointed main contractor and Al Dar to supervise the implementation.
  • The agreement boasts the famous hospitality brand Kempinski and the international Taj chain for the first time in Makkah.

Makkah, Saudi Arabia—Umm Al-Qura for Development and Construction Company, owner and developer of Masar Destination, an integrated urban destination in the Makkah, has signed an agreement for the construction and operation of its $1.86 billion hotel project.

The Saudi Arabian Baytur Construction Company was nominated as the main contractor for the implementation, while the International ‘Al Dar’ for Engineering Consultancies was appointed to supervise the implementation of this package, which includes the construction and the operation of seven hotel towers.

The signing was attended by Engineer Saleh Al-Rasheed, CEO of the Royal Commission for Makkah and Holy sites.

In a statement, Masar said these international operators were picked in its “quest to set new international standards in the hospitality sector in Makkah”

The agreement boasts the famous hospitality brand Kempinski and the international Taj chain for the first time in Makkah. They will be operating two 5-star towers and one Kempinski residential tower.

This hospitality package occupies a select location in the central area of Makkah, which is only about 500 meters away from the Great Al-Haram Mosque. It hosts a commercial complex of more than 43,000 square meters. These hotels offer a range of parking spaces and a bus station for shuttles. T

The leading hotel brand Hilton is set to take over the operations of the four-star “Embassy Suite – Hilton”, as well as three 3-star hotel towers “Garden Inn – Hilton” next to the “Alharamain” train station. This entire development offers more than 2800 rooms.