Saudi Arabia’s Al Khozama Management Company is opening its first regional office in the United Arab Emirates, as part of plans to expand internationally, the Riyadh-based hospitality firm said on Monday.

 

Al Khozama recently launched a new concept resort in Riyadh, and the company’s future plans include more properties in the eastern and western regions of the kingdom, said Hussien Hatata, the company’s vice president of hospitality.

 

“The UAE is a natural next step for us,” he added.

 

The National Commercial Bank (NCB) arranged SAR 1.3 billion in financing for Al Khozama in October, the lender said in a statement seen by Argaam.

 

Al Khozama, which is 5 percent owned by Aseer Trading & Manufacturing Co., was planning to use the funds for its expansion plans, it was reported.

 

The group manages several hotels and real estate properties in Saudi Arabia, including Al Faisaliah Hotel & Spa in Al Khobar and Bay La Sun Hotel & Marina in King Abdullah Economic City.

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