Clarion Hotel Construction Project - AlUla
Project Overview
 Ref No |
WPR8758-SA |
|---|---|
 Country |
Saudi Arabia |
 Total Participant |
2 |
 Ownership Type |
Private |
 Status |
New Tender |
 Sectors |
|
Timeline Updates
- 03th
FebruaryClient has announced the signing of an investment and joint venture agreement with AlUla Development Company, to establish a joint venture to develop and operate this project. As per the agreement, the JV will develop and operate this project under the CHOICE brand. The value of the project is 170 million SAR. The partners will contribute 30% of the capital, and 70% of the project value will be financed in accordance with Shariaah. As per the agreement, a joint venture company with 51% ownership by Seera Group and 49% ownership by AlUla Development Company will be established. The joint venture company will also sign a lease agreement with AlUla Development Company to obtain the land on which the project will be built for a period of 50 years, and the hotel will be owned by the joint venture company during the lease period.
- 01th
JuneProject is currently under planning stage.
- 25th
AugustThe project is in the initial stages of planning.
April
18
2023
Tuesday
LAST UPDATED
Important Dates
| Project Activity type | Date |
|---|---|
| Contact awarded to - | Login to access |
| Main Contractor | |
| Project Stage - | Login to access |
| Under Construction | |
| Scheduled - | Login to access |
| Completion date |
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