Taiba Announces the Hotel Management Agreement Signing with IHG (Intercontinental Hotels Group) to Manage and Operate a Crowne Plaza Taiba Hotel & Suites in Riyadh – Owned by AlAqeeq Real Estate Development Company, One of Taiba Subsidiaries

Taiba Announces the Hotel Management Agreement Signing with IHG (Intercontinental Hotels Group) to Manage and Operate a Crowne Plaza Taiba Hotel & Suites in Riyadh – Owned by AlAqeeq Real Estate Development Company, One of Taiba Subsidiaries

In line with the Taiba strategic directions to focus on the real estate investment and development with its approved plan to execute a number of real estate hotel projects, and while continuing to second

the management and operations of its hotels to international operators who are experienced and qualified in this hospitality industry; a Hotel Management Agreement (HMA) has been signed with IHG (Intercontinental Hotels Group) to operate the Crowne Plaza Taiba Hotel & Suites in Riyadh – owned by AlAqeeq Real Estate Development Company (a subsidiary fully owned by Taiba) – the hotel project for which Taiba has recently announced the award of contract for its construction works.