Al-Akaria says reviewing deals with Starwood on hotel project

01/02/2016 Argaam

Saudi Real Estate Company (Al-Akaria) is currently reviewing the first draft of operating and management agreements it received from Starwood Co. covering plans to build a three-tower hotel in Riyadh. 

 

Al-Akaria will announce any updates related to the deal in due course, it said in a statement to Tadawul.

 

Last November, the Saudi-based developer signed a letter of intent with Starwood on the five-star hotel project in the kingdom’s capital, which will span a total area of 25,500 square meters.

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