AnnouncementDetails

Actions

Taiba Investments Company Announces Termination of Contractual Relationship with Millennium & Copthorne Middle East Holdings Limited for the Management of the Hotels Owned by AlAqeeq Real Estate Development Company

Element ListExplanation
Announcement Detail Taiba Investments Company hereby announces that AlAqeeq Real Estate Development Company (a subsidiary fully-owned by Taiba) has terminated the Hotel Management Agreements signed with Millennium & Copthorne Middle East Holdings Limited dated 30th November 2014 for the management of AlAqeeq Millennium Hotel and Taiba Millennium Hotel owned by AlAqeeq Real Estate Development Company located in Madinah Central Area as of date 11-07-1442H corresponding to 23-02-2021G, whereby the operations of the abovementioned hotels will continue under the management of AlAqeeq Real Estate Development Company directly.

Moreover, the termination of this contractual relationship with Millennium & Copthorne Middle East Holdings Limited may have a financial impact which cannot be estimated at present, and it will be announced later should there is any update in this regard.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
30.0 -0.1 (-0.33%)
Value Traded (SAR) Volume Traded
2,508,321 83,425

RelatedAnnouncementPortlet

Actions

Related Announcements