Taiba Holding announces the acquisition of a plot of land in the city of Riyadh by Arab Tourism Areas Company (Arak)

Taiba Holding announces the establishment of the Arab Company for Tourist Zones (Arak) – one of the subsidiaries of Taibeh Holding and its tourism arm, which owns 86.81% of its capital – on Tuesday 24/10/1433 H corresponding to 11/9/2012 by purchasing a plot of land in the city Riyadh, located on King Abdullah Road next to Riyadh International Convention and Exhibition Center with an area of 9,998.33 m 2 with a value of 79,986,640 riyals. The Arab Company for Tourist Areas (Arak) plans to establish a five star hotel and five star hotel suites