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Elaf Group to open hotel in Madinah

RIYADH, December 21, 2016

Elaf Group, a Sedco Holding Group company, will open a new hotel in Madinah for the benefit of the growing number of tourists who visit Saudi Arabia for religious purposes.

Elaf has entered into a strategic lease agreement with Al Aqeeq Real Estate Development to rent the Al Majeedi Residential Center situated in front of Al-Masjid Al-Nabawi, north of Madinah Al Munawara.

The agreement was signed by Ziyad Bin Mahfouz, CEO, Elaf Group, and Aymen Bin Hamza Saeed, CEO of Al Aqeeq Real Estate Development and CEO of Taiba Holding Company.

Under terms of the agreement, the Al Majeedi Residential Center will be renamed as Elaf Al Majeedi Hotel, serving as the latest addition to the growing portfolio of Elaf Hotels Company, a subsidiary of the Elaf Group.

Bin Mahfouz pointed out that the move complements the group’s expansion strategies to strengthen its presence in the country by providing the highest quality of hospitality services to the visitors arriving in Al Madinah Al Munawara.

Bin Mahfouz explained that the number of tourists arriving in Saudi Arabia is expected to register a continuous upwards momentum in the coming years, complementing the ‘Saudi Vision 2030,’ which was launched by the government of the Custodian of the Two Holy Mosques.

“Expansion and development are key priorities of the Elaf Group to achieve excellence by constantly innovating its services and keeping them relevant and up-to-date as per the market requirements. The signing of this new lease agreement with Al Aqeeq Real Estate Development is part of our ongoing efforts to reinforce the group’s leading position in the hospitality sector across Saudi Arabia and the Middle East,” he said. - TradeArabia News Service




Tags: hotel | Madinah | Elaf |

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