Saudi: Al Kathiri Holding seals $38.13mln lease deal with Aseer Region Municipality
Riyadh – Al Kathiri Holding Company inked a long-term lease contract valued at SAR 143.10 million with the Aseer Region Municipality on 27 May 2025.
The agreement aims to invest in a strategic project involving the development and operation of a mixed-use hotel and commercial complex in Ard Al Dhihab, Abha, according to a bourse filing.
Located on a land area of 53,000 square meters, the project will cover the construction of a four-star hotel with a capacity of 180 keys.
The companies will also establish retail and entertainment facilities, aimed at enhancing the level of tourism and commercial services in the region.
The deal aligns with Al Kathiri Holding's strategic plans to diversify its investment portfolio and expand into promising sectors.
Within the framework of Saudi Vision 2030, the partnership anchors the company's commitment to long-term sustainable development.
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