The hospitality specialist Elaf Group has signed an MoU with Kinan International Real Estate Development for the management and supervision of the design work for an upcoming hotel project within the Aliat Mall in Madinah for 15 years.Â
Set for completion in Q1 of 2025, the agreement, which is worth $60 million, is for the implementation of 230 rooms and suites.
The deal was signed by Engineer Nidal Abdulmajeed Jamjoom, Managing Director and CEO of Kinan International Real Estate Development Company, and Dr Adel Ezzat, CEO of Elaf Group.
Dr Ezzat said, “We will improve our efforts to enhance pilgrims’ and visitors’ experiences, and increase the quality of services provided in the Hajj and Umrah business in order to support the country’s Vision 2030 and the goal of hosting 100 million visitors yearly by 2030.”