{"id":70193,"date":"2023-05-10T12:56:43","date_gmt":"2023-05-10T09:56:43","guid":{"rendered":"https:\/\/indexeconomic.com\/?p=70193"},"modified":"2023-05-10T12:56:44","modified_gmt":"2023-05-10T09:56:44","slug":"dur-hospitality-and-smart-zone-real-estate-company-announce-jv-to-develop-and-operate-a-hotel-in-riyadh","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=70193","title":{"rendered":"Dur Hospitality and Smart Zone Real Estate Company announce JV to Develop and Operate a Hotel in Riyadh"},"content":{"rendered":"\n<p class=\"has-text-align-left\">Dur Hospitality has announced signing a partnership agreement with Smart Zone Real Estate Company. The agreement aims to set up a Limited Liability Company (The Project Company) to construct and operate an innovative hotel in Riyadh.<\/p>\n\n\n\n<p class=\"has-text-align-left\">As per the agreement, The Project Company will develop and operate the first full-fledged smart hotel in the Kingdom. The Project Company\u2019s capital will be contributed according to the ownership percentage of each party.<\/p>\n\n\n\n<p class=\"has-text-align-left\">Commenting on this milestone, Mr. Feras Albanyan CEO of AQALAT stated: \u201cWe are excited to partner on this project with Dur Hospitality, one of the leading national companies in hotel development and operation in the Kingdom.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left\">For his part, Dur Hospitality CEO Mr. Sultan Al-Otaibi stated, &#8220;Dur has diligently worked on the studies required to set up The Project Company which will embody Dur\u2019s strategic expansion roadmap and its role in the Saudi hospitality\u2019s digital transformation journey. The hotel will embrace next-generation technologies with ultra-modern digital designs, in line with the top international standards. This JV supports Dur Hospitality&#8217;s direction to expand strategic partnerships with leading institutions in the Kingdom to develop top-notch hotels and increase the contribution of the tourism sector to the Kingdom\u2019s GDP, in line with Saudi Vision 2030. Dur is very happy to join hands with Smart Zone Real Estate Company to develop this outstanding project.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left\">The two parties signed an MOU in October 2022, followed by the preparatory studies for the establishment of The Project Company to develop and operate a state-of-the-art hotel in the Kingdom.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dur Hospitality has announced signing a partnership agreement with Smart Zone Real Estate Company. The agreement aims to set up a Limited Liability Company (The Project Company) to construct and operate an innovative hotel in Riyadh. As per the agreement, The Project Company will develop and operate the first full-fledged smart hotel in the Kingdom. &hellip;<\/p>\n","protected":false},"author":2,"featured_media":70194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-70193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dur Hospitality and Smart Zone Real Estate Company announce JV to Develop and Operate a Hotel in Riyadh - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indexeconomic.com\/?p=70193\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dur Hospitality and Smart Zone Real Estate Company announce JV to Develop and Operate a Hotel in Riyadh - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\" \/>\n<meta property=\"og:description\" content=\"Dur Hospitality has announced signing a partnership agreement with Smart Zone Real Estate Company. The agreement aims to set up a Limited Liability Company (The Project Company) to construct and operate an innovative hotel in Riyadh. 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