Taiba Holding Company announces the end of the lease contract for the land on which Arak Al Ola Hotel is located and the location between Arak Company – a subsidiary of Taiba – and between the municipality of Ala

Taiba Holding Company announces the end of the land lease agreement signed between the Arab Company for Tourist Zones (Arak) – one of the subsidiary companies of Taiba Holding Company which has a good contribution of 86.87% of its capital – with the Municipality of Ala on 16/10/1438 H corresponding to 10/07 (2017). Accordingly, the land and its facilities were handed over to the municipality of Al-Ola in accordance with the lease agreement of the aforementioned date. The financial impact of the handover will be reflected in the financial statements of Taiba Holding Company Finished on 30/09/2017 AD, Flag That it does not have related parties in that