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Seera Group Holding announced in a bourse statement today, April 5, 2021, that the duration of the memorandum of understanding (MoU) signed with the Tourism Development Fund is automatically renewed, subject to the same terms and conditions.
According to data compiled by Argaam, Seera signed, on Sept. 27, 2020, a six-month MoU with the Tourism Development Fund to finance the development of a number of hotels across the Kingdom. The hotels will comprise more than 1,000 rooms, and will be located in Riyadh, Jeddah, Al Bahah, Abha, Taif, Al-Jouf, Hail and AlUla.
Under the MoU, Seera will build mid-range hotels that will include restaurants, cafes and entertainment venues.
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