Logo of Al Kathiri Holding Co.
Al Kathiri Holding Co.’s board of directors approved, on Oct. 28, setting up a 100% owned one-person limited liability subsidiary with a capital of SAR 10 million, according to a statement to Tadawul.
The new entity, headquartered in King Abdullah Economic City (KAEC) in Rabigh, will specialize in building luxury yachts.
The company obtained the necessary approvals and permits from the relevant authorities.
This new entity falls within the company’s strategy aimed at boosting growth and diversifying revenue, the statement added.
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