Al-Othaim Investment signs MoU with Jazan City for Basic and Transformative Industries to explore opportunities in hospitality sector‏

Al-Othaim Investment Company announced that it has signed a memorandum of understanding with the Royal Commission for Jubail and Yanbu, represented by Jazan City for Basic and Transformative Industries, with the aim of enhancing cooperation in developing investment opportunities in the field of mixed-use projects as well as the hospitality sector through establishing and operating hotels in addition to shopping centers and commercial markets.

The signing of the memorandum of understanding came in conjunction with the activities of the “Jazan Investment Forum 2023”, which was held on Wednesday and Thursday, under the patronage of Saudi Crown Prince Mohammed bin Salman, Prime Minister and Chairman of the Council of Economic and Development Affairs.

Earlier this year, Al Othaim Investment Company announced the establishment of a new company in the hotel and hospitality sector to join its existing chain of companies in several sectors, within the framework of the company’s strategic vision aimed at expanding and diversifying its investment activities. Mr. Mishal bin Omairah, CEO of Al Othaim Investment Company, confirmed that the establishment of the new company within Al Othaim Investment Group comes in support and enhancement of its vision and future strategy of expansion and adding new activities, especially in hotel and hospitality, through a series of projects that it is working on establishing or continuous development and modernization of its existing projects. .

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