Enma AlRawabi inks SAR 28.5 mln lease deal for Rawabi Al Zahra Hotel in Madinah

15/11/2023 Argaam

Enma AlRawabi inks SAR 28.5 mln lease deal for Rawabi Al Zahra Hotel in Madinah

Logo of Enma AlRawabi Co.

Enma AlRawabi Co. terminated on Oct. 30 its operation contract with Rawabi Al Zahra Hotel Services Co. for Rawabi Al Zahra Hotel in Madinah and signed a new SAR 28.5 million lease contract (VAT exclusive) with Ahmed Mohamed Zuhdi Co. for Tourist Accommodation Management (a sole proprietorship).

 

The contract, valid from Nov. 15, 2023, to Nov. 14, 2026, is expected to enhance Enma AlRawabi’s annual income in the first half of 2024, the company said in a Tadawul statement today, Nov. 15.

 

Any significant developments in this regard will be announced in due course, the company added.

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