Jabal Omar Development Co. on Wednesday started commercial operations at Hotel Conrad Makkah after obtaining the required regulatory approvals, the real estate developer said in a statement to Tadawul.
The company expects the new project—a five-star hotel comprising 438 rooms over 20 floors--to boost revenues and shareholders’ equity.
In May 2011, the company signed an agreement to operate 12 hotels as part of its project near the Grand Mosque in Makkah.