Saudi-listed Dur Hospitality is planning to build 14 new hotels across the kingdom over the coming period as part of its strategy to explore investments not only in major cities, but also in small towns, such as Taif and Hail.
The company has already laid the cornerstone for four hotels, chief executive Badr Al Badr told CNBC Arabia on Monday.
Al Badr said the market value of Dur’s real estate investment portfolio is increasing, after having exceeded SAR 2 billion, thanks to the building of new hotels.
The portfolio includes several luxury hotels that are owned and managed by Dur in Riyadh, Makkah, and Jeddah.
The hospitality firm has fully divested its securities portfolio to focus on hotel development and operation, Al Badr added.
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