Riyadh – Mubasher: Taiba Investments Company has entered into a partnership agreement with Osool Integrated Real Estate Company to establish a special‑purpose company with a total investment size estimated at SAR 2.40 billion, according to a bourse disclosure.
Taiba will contribute SAR 300 million in the joint venture (JV) and will supervise the development, refurbishment, and operation of the three hotels in the central area of Al Madinah.
Under the partnership, a total of 1,500 rooms will be developed under local and international hotel brands.
The project will be financed in proportion to each party’s share in the new company’s capital and in line with project progress.
Meanwhile, the financial impact of this agreement will commence after the completion of the preparation of each hotel for operation, which is expected to begin in 2029.
Taiba Investments recently announced its quarterly results, registering a net profit of SAR 124.80 million at the end of March 2026.
