Riyadh – Mubasher: Knowledge Economic City announced that its subsidiary, Al Gharra International for Real Estate Development, has signed an agreement with Hilton to operate a new hotel project.
The agreement involves engineering consultations during the design and execution period through the Hilton’s DoubleTree hotel brand.
The 20-year contract’s value depends on the hotel’s revenues, and the financial impact of the deal cannot currently be evaluated, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.
Knowledge Economic City owns 80% of the real estate development firm.
