Seera Group Holding announced the signing of a memorandum of understanding with the Tourism Development Fund to finance the development and establishment of a group of hotels providing more than a thousand rooms in: Riyadh, Jeddah, Al-Baha and Abha And Taif, Al-Jawf, Hail and Al-Ula, provided that some projects include restaurants, cafes and places for family entertainment, as the duration of the memorandum is 6 months.
The company said in a statement to the Saudi market (Tadawul), today, Monday, that this step is a continuation of supporting and empowering the Tourism Development Fund for the private sector, and stimulating investment in the tourism sector and to achieve For the objectives of the National Tourism Strategy by providing jobs, raising the sector’s contribution to the local product, and increasing the number of visitors through various tourism projects in various Saudi tourist destinations.
This note coincides with the Group's strategic plan to expand into the hotel sector in the Kingdom of Saudi Arabia through Choice International's brands.
The company's profits jumped 717.4% during the first half of this year, to reach 940 million riyals, compared to 115 million riyals for the same period of 2019.
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