| Element List |
Explanation |
| Introduction |
Jabal Omar Development Company announces the signing of a contract with Accor Group to manage and operate four towers that include (1,141) hotel units in the phase 4 of its project in Makkah Al-Mukarramah, which is expected to enter into operation in the fourth quarter of 2026 AD. |
| Date of Announcement of the Award |
2025-10-28 Corresponding to 1447-05-06 |
| Contract Subject Matter |
Management and operation of hotel towers in the phase 4 of the Jabal Omar project |
| The Entity with Which the Contract was Signed |
Accor Group |
| Date of Signing the Contract |
2025-10-28 Corresponding to 1447-05-06 |
| Contract Value |
Accor Group will receive a percentage of revenue and a percentage of the hotels' gross operating profit for management and operation. |
| Contract Details |
A contract to manage and operate four towers, including (1,141) hotel units, which will be managed by the Sofitel Jabal Omar brand. |
| Contract Duration |
15 years, renewable |
| Financial Impact and the Relevant Period |
The financial impact will appear after the hotel is operational, and is expected to be operational in the fourth quarter of 2026. |
| Related Parties |
No related parties |
| Attached Documents |
 |
Comments