Taiba Holding Co.’s board has forecast total income of SAR 310 million in 2016 and expects to distribute SAR 300 million in shareholder dividends, or 20 percent of the company’s capital.
The company, which owns and manages hotels and residential compounds, estimated that it would make SAR 216 million in operating profit and SAR 94 million in other diversified income, it said in the board of directors’ report.
The company is expected to complete work on its 25-percent owned hotel near Prince Mohamed bin Abdulaziz airport in the second quarter of this year.
As of the end 2015, the company had as many as 33,440 shareholders, 22 of which were non- Saudis.
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