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×Establishment of Saudi Heritage Hospitality Co. (Nuzul)
Saudi Heritage Hospitality Co. (Nuzul) was established as a holding company to develop and invest in heritage buildings and traditional hospitality sector.
Founders are Taiba Holding Company, Dur Hospitality, Al-Tayyar Real Estate and Development Co., Riyadh Development Company, Jeddah Development and Urban Regeneration Co. (Jedrick) and the Saudi Public Investment Fund (PIF).
Deal Value | Method of Finance | Type | Status |
66.70 Million USD | Internal Resources | Participate in Foundation | Completed |
The First Party
Taiba Investments Co. - TAIBA | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Landlords and developers |
*Market Cap (Million SAR) | 11,108.62 |
*Price/Share (SAR) | 42.65 |
Dur Hospitality Company - Dur | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | Hotels, Motels, and Resorts |
*Market Cap (Million SAR) | 2,700.00 |
*Price/Share (SAR) | 27.00 |
Arriyadh Development Co. - ARDCO | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Landlords and developers |
*Market Cap (Million SAR) | 4,188.50 |
*Price/Share (SAR) | 23.56 |
Jeddah Development & Urban Regeneration Co - Jeddah Development & Urban Regeneration | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | Landlords and developers |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
Seera Hospitality Co. - Seera Hospitality | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | Hotels and Tourism |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
Public Investment Fund - PIF | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
The Second Party
Saudi Heritage Hospitality Co. - SHHC | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | entertainment |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
- *Based on the latest data available
Important Dates
Announced Date | 01-02-2015 |
Expected date for Completion | 01-02-2015 |
Main Details
Nuzul’s capital, SAR 250 million, was divided among founding shareholders. Dur Hospitality owns 25 percent stake (6.25 million shares) in Nuzul, valued at SAR 62.5 million.
Al-Tayyar Real Estate and Development Co., a fully-owned subsidiary of Al Tayyar Travel Group, owned 20 percent (5 million shares) valued at SAR 50 million.
Riyadh Development Co. bought eight percent (2 million shares) for SAR 20 million.
Note
* Nuzul was established based on an offer from the Saudi Commission for Tourism and National Heritage to set up a specialized company, whose capital be subscribed by incumbent industry players.
Founding firms bought shares into a private placement that closed on December 31, 2014, and was oversubscribed by 125 percent.