AlAhli REIT 1 ends contract to operate hotel near Alandalus Mall

05/01/2021 Argaam

 AlAhli REIT Fund 1 logo

NCB Capital Co., the fund manager of AlAhli REIT 1, announced today, Jan. 5, 2021, the mutual termination of the contract with Holiday Inns Middle East Ltd. to operate a hotel adjacent to Alandalus Mall.

 

The hotel will temporarily continue operations, NCB Capital said in a statement to Tadawul.

 

The event is not expected to have a material effect on the fund’s income in the current period, it added.

 

Any related development will be announced in due course.

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