News & Insights

Events / May 28, 2025

AlKathiri Holding announces that its subsidiary has signed a 50-year lease Contract with the Aseer Region Municipality to invest in a commercial and hotel project in the city of Abha

Saraya AlDiyar Investment, a subsidiary of Al Kathiri Holding, signed a long-term lease Contract with the Aseer Region Municipality on 29/11/1446 corresponding to 27/05/2025 to invest in a strategic project involving the development and operation of a mixed-use hotel and commercial complex in Ard AlDhihab, Abha, on a land area of 53,000 square meters.

The project will include the construction of a four-star hotel with a capacity of 180 keys, in addition to retail and entertainment facilities, aimed at enhancing the level of tourism and commercial services in the region.

The total value of the lease Contract is SAR 143,100,000 for a period of 50 years, starting from the handover date of the land by the Investment Committee of Aseer Region Municipality on 29/12/1446H and ending on 29/12/1496H.

The Contract was signed by:

• Mr. Meshal bin Mohammed Al Kathiri, CEO and Managing Director of Al Kathiri Holding.
• Mr. Nawaf bin Ayed Al Buqami, Assistant Mayor for Investment and Revenue Development at Aseer Municipality.

This Contract is in line with Al Kathiri Holding’s strategic direction to diversify its investment portfolio and expand into promising, high-impact sectors, aligning with the goals of Saudi Vision 2030, and further reinforcing the company’s commitment to long-term sustainable development.