Taiba Announces Awarding Works of Sheraton Taiba Hotel Project in Madinah for SR430.7 mln

Taiba Investments announced on Thursday that, according to the approved plan to implement a number of real estate and hotel projects, works have been awarded with the main contractor, the Saudi Arabian Construction Company, to construct the Sheraton Taiba Hotel building project in Madinah on plots of land No. 108 and No. 153 owned by the company and located in the northern side of the city. Al-Masjid Al-Nabawi Al-Sharif in the central area of Madinah with a total area of (2005) m 2, where the value of the contract is SR430,748,900 (excluding tax value). The contract value is SR430,748,900.
The company said in a statement on Thursday at upper level having public area, dining facilities. The total building floors are 19 including 4 basements, Ground floor lobbies, mezzanine and 13 typical floors which contains 435 keys as Standards rooms, (2) Royal Suits and retails. The parking facilities are provided in basement levels and restaurant allocated in mezzanine floor. There are no third Parties