MADINAH: Madinah Regional Municipality signed an investment contract with United Othaim Co. to set up and operate a hotel and a commercial market.
The project is located in the southwestern central region on King Faisal bin Abdulaziz Road, the municipality said on its official Twitter account.
The implementation period for the project is 20 months. The project will be managed by an international hotel firm, with the operating contract period of 25 years, it added.
Spread over an area of 1,100 square meters, the project will consist of 336 hotel rooms, 14 residential floors, and a four-storey commercial market. It will also include retail outlets, restaurants, and cafes.
The municipality aims to attract qualitative investments in the hospitality sector and improve the services quality provided to Madinah visitors.
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