Official: Al-Hokair Group prefers rented premises to asset acquisition

Abdulmohsen Al-Hokair Group pursues an asset rent model whereby it rents 90 percent of its premises for up to 20 years.

The company prefers this model to owning the assets, said the company’s managing director Sami Al-Hokair.

Abdulmohsen Al-Hokair Group offered today 8.25 million shares of its capital in the Saudi market’s third IPO this year.

The company said in the IPO prospectus it did not own any of its premises, except for Holiday Inn hotel owned by a sister company.