|Reference to the Seera Holding Group’s announcement published on Tadawul website on 11/1/1440 AH corresponding to 07/04/2019 AD, which includes changing the group’s approach to financing hotel development
|Date of Posting the Previous Announcement of Development on Tadawul’s Website
|2019-07-04 Corresponding to 1440-11-01
|URL of the Previous Announcement
|Change on the Development
|A reference to the Seera Holding Group’s announcement posted on Tadawul website on 11/1/1440 AH corresponding to 07/04/2019 AD, and where it has been indicated that the hotels are expected to operate gradually starting from the second half of 2020 AD, the group would like to indicate that the first batch has been completed. The first batch of the hotels that will be opened are as follows:
1- Clarion Hotel, Jeddah Airport – Prince Majed Road – April 2021.
2- Comfort Hotel & Suites Jeddah – King Abdulaziz Road – Jeddah – March 2021.
3- Comfort Hotel Riyadh – Olaya Road – November 2021.
As for the rest of the previously mentioned hotels, it has been postponed till further time, due to the current conditions of the Coronavirus (COVID-19) pandemic.
|Financial Impact on the change