Riyadh - Mubasher: The Smart Hotel Zone Company, owned 84% by Taiba Investments Company, inked a SAR 181.50 million agreement with Al Saad Contracting Company.
The unit will carry out the construction works of the Marriott Hotel building project located within the STC Square complex in Riyadh, as a main contractor, according to a bourse filing
Meanwhile, the hotel consists of 159 keys, featuring a rooftop swimming pool and a fitness club.
The deal is valid for 24 months from the signing date of 11 December 2025.
It aligns with the objectives of Saudi Arabia’s Vision 2030 to support domestic tourism and develop hotel infrastructure.
In the first nine months (9M) of 2025, the Tadawul-listed group recorded 22.66% year-on-year (YoY) higher net profits at SAR 298.80 million, versus SAR 243.60 million.
