KEC Terminates MOU Signed with Al Aqeeq and ARAC

20/04/2013 Tadawul

Knowledge Economic City (KEC) announced the expiry of the memorandum of understanding (MoU) signed on 17/10/2012 with Al Aqeeq Real Estate Development and Arab Resort Areas (ARAC) to establish limited liability company with SAR 300 million capital to develop, operate and manage a group of hotels and hotel apartments, the company said in a filing to Tadawul.
 

The company added that the expiry comes without any commitments toward the company, according to the statement. 

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