| Introduction | Under the patronage of His Excellency, Eng. Abdullah bin Mahadi Al-Jali, Secretary of Asir Region, Al Kathiri Holding signed a memorandum of understanding with Asir Municipality to invest in the long-term project, represented in the exploitation of municipal real estate plots, to establish and run a commercial venture and hotel project “mixed activity”, on the land owned by Asir Municipality in fog land located in Abha, covering an area of (53,300m2), to establish a hotel, along with retail and entertainment facilities.Both parties were represented at the signing of this MoU by H.E. Mr. Meshal bin Mohammed Al Kathiri, CEO and Managing Director of Al Kathiri Holding, and H.E. Mr. Nawaf bin Ayed Al-Buqami, the Deputy of Investment and Revenue Development at Asir Municipality, the agreement was signed in “Cityscape Global 2024” held at Riyadh International Convention and Exhibition Center (RICEC).This MoU comes as Al Kathiri Holding seeks to achieve one of its strategic objectives in supporting and diversifying its investment portfolio towards new sectors and offer sustainable, and long-term value. |
