Sharaco awards a contract for the construction of hotel suites in Riyadh

Sharaco has announced to its shareholders that it has awarded a contract for the execution of hotel suites tower project in Riyadh to the Saudi Lebanese Company (Salmoc).

The proposed hotel is situated on Al-mether road near Riyadh Marriot Hotel. Is consists of 14 floors that contain 147 hotel suites along with a restaurant, a health club with all the required services and facilities, as well as a basement for car parking. The overall cost of the project is estimated to be SR115 million. The construction is expected to be completed in 18 months.

The hotel will meet the needs of businessmen and families who seek luxurious residential suites for a medium term periods, as well as contributing in softening the lack of rooms and hotel suites in Riyadh city.

Furthermore, it is expected that the project will come up with good investment return because of its location in the heart of the city in addition to its facilities which combine the elements of Riyadh Marriot Hotel and Makarim Hall, both of which are owned by Sharaco. Thus, the said features will make the compound one of the most prominent hotels in Riyadh.