News & Insights

Events / November 12, 2024

Under the Patronage of the Mayor of Asir Region: Al Kathiri Holding Signs MoU for a Mixed-Use Commercial and Hotel Project in Abha

Under the patronage of His Excellency the Mayor of Asir Region, Eng. Abdullah bin Mahdi Al-Jali, Al Kathiri Holding has signed a Memorandum of Understanding (MoU) with the Municipality of Asir Region to invest in a long-term project. The project will involve the development and operation of a mixed-use commercial and hotel venture on municipal land in Al Dabab area, Abha. Spanning 53,300 square meters, the project is set to include a modern hotel, retail spaces, and entertainment facilities.

The MoU signing took place during the Cityscape Global 2024 exhibition at the Riyadh Exhibition and Convention Center. The agreement was signed by:

• Mr. Mishal bin Mohammed Al Kathiri, CEO and Managing Director of Al Kathiri Holding.
• Mr. Nawaf bin Ayed Al-Buqami, Deputy Mayor for Investment and Revenue Development at the Municipality of Asir Region.

Commenting on the occasion, Mr. Mishal Al Kathiri stated:
“This MoU aligns with our strategic objective to diversify Al Kathiri Holding’s investment portfolio, targeting new sectors that offer long-term, sustainable value, in line with the aspirations of Vision 2030.”

This initiative represents a significant collaboration between the public and private sectors, aiming to create a unique destination that fosters economic and tourism development in the Asir region. It also contributes to establishing a sustainable and diversified economy for the future.