Logo of Jadwa REIT Al Haramain Fund
Jadwa Investment, fund manager of Jadwa REIT Al Haramain Fund, announced completing the development works in the hotel located in the central area in Makkah, specifically in Ibrahim Al-Khalil St., and its readiness for initiating the hotel’s operations starting from the Hajj season of 1444AH, according to a Tadawul statement.
The hotel management and operation will be assigned to Emaar Al Diyafa Hotels Co., including the marketing, maintenance, and supervision works, it added.
Emaar Al Diyafa is also managing and operating Al Taqwa Hotel and Al Andalusia Hotel, which are also owned by the fund.
Jadwa Investment expects the related financial impact to reflect on fund results in Q3 2023.
In April 2021, Jadwa Investment announced that the deeds of Tharawat Wadi Ibrahim Hotel and the restaurant building were merged into one title deed with total land area of 261 square meters (sqm), saying that the architectural designs were approved and building permits were obtained, according to Argaam’s data.
In February 2020, Jadwa Investment announced a plan to redevelop Tharawat Wadi Ibrahim Hotel and the restaurant building, by merging the two properties and developing them into a hotel tower, Argaam reported earlier.
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