Taiba Investment announces awarding of works for Novotel Hotel-Madinah building project, at value of SR238.3 mln

Taiba Investment announced on Thursday the awarding of the main contractor works for the construction of the Novotel Hotel building project in Madinah on the land owned by Al-Aqeeq Company and located on the western side of the Prophet’s Mosque in the central area of Madinah with a total area of (1822) square meters, where the value of the contract is SR238,308,423 (not including the tax value).
The company said in a statement on Thursday on Tadawul that the Novotel Hotel-Madinah is a four-star hotel consisting of (18) floors consisting of a ground floor and a mezzanine, and (12) recurring floors containing royal suites and hotel rooms with a total of (394) hotel rooms. The hotel contains a central restaurant and commercial galleries, in addition to allocating a part starting from the fourth basement to the mezzanine floor for car parking and hotel services indicating that there are no related parties.