UAE-based, TIME Hotels Management Co. has signed agreement with Saudi-based Al-Fahd Investments Co. to establish a joint venture to operate hotels and resorts in Saudi Arabia.
TIME Hotels' CEO, Mohamed Awad, told Al Bayan newspaper that the agreement serves his company's business expansion strategy relating to Saudi Arabia, as the brand seeks to operate new business in Jeddah and Riyadh.
The newly founded venture will start business by next year.
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