Saudi-based investment firm NOMW Capital has acquired a plot of land for SAR 115 million in the Jarwal region of Makkah, it said in a statement on Monday.
The company said it will build a four-star hotel on the plot under its NOMW Eslan Real Estate Fund, adding that Bin Dabis for General Contracting will be the contractor for the project.
The hotel will be managed by a global operator, the statement said, without revealing the operator.
The hotel’s fourth floor has recently been completed, and the property will be open to guests by the Hajj season of 2018, NOMW Capital said
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