Memorandum of Understanding with Osool Integrated Real Estate Company

 Announcement of Taiba Investment Company on the latest developments regarding the Signing of a Memorandum of Understanding with Osool Integrated Real Estate Company for the purpose of investing in, developing and operating 3 hotels in the central area of Al Madinah owned by Osool Integrated Real Estate Company.

Developing and operating 3 hotels in the central area of Al Madinah

Element ListExplanation
Introduction

With reference to Taiba Investment Company’s announcement on Tadawul dated 18-11-2025 regarding the signing of a non‑binding Memorandum of Understanding with Osool Integrated Real Estate Company (wholly owned by the General Organization for Social Insurance) to invest in, develop and operate three hotels in the central area of Al Madinah owned by Osool Integrated Real Estate Company:

 

Taiba Investment Company announces that on 30 Dhu al‑Qi'dah 1447 AH, corresponding to 17 May 2026, the final partnership agreement was completed and signed between Taiba Investment Company and Osool Integrated Real Estate Company. The agreement provides for the establishment of a special‑purpose company with a total investment size estimated at SAR 2,400,000,000 (two billion four hundred million Saudi riyals), of which Taiba will contribute SAR 300,000,000 (three hundred million Saudi riyals). Taiba Investment Company will supervise the development, refurbishment and operation of the three hotels under local and international hotel brands, totaling 1,500 rooms. The project will be financed in proportion to each party’s share in the new company’s capital and in line with project progress.

Previous AnnouncementAnnouncement of Taiba Investment Company on signing a non‑binding Memorandum of Understanding with Osool Integrated Real Estate Company to invest in, develop and operate three hotels in the central area of Al Madinah owned by Osool Integrated Real Estate Company.
Date of Previous Announcement on Saudi Exchange’s Website2025-11-18 Corresponding to 1447-05-27
Hyperlink to the Previous Announcement on the Saudi Exchange Website

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Latest Developments Of The Announced EventCompletion of the signing of the final partnership agreement between Taiba Investment Company and Osool Integrated Real Estate Company.
Reasons For The Delay on The Date of The Event Previously AnnouncedN/A
The costs associated with the event, and if they have changed or not with indication of the reasons.N/A
Delay consequences on the Company’s financial resultsN/A
Additional Information

The signing of the agreement is in line with Taiba Investment Company’s strategic expansion policy, which aims to strengthen its leading and distinguished position in the Kingdom’s hospitality sector in general and to enhance the quality of services provided to the pilgrims, particularly given the developments in the hospitality sector in Al Madinah in light of Saudi Vision 2030. The project will add hotel assets to Taiba’s investment portfolio.

 

The financial impact of this agreement will commence after the completion of the preparation of each hotel for operation, which is expected to begin in 2029, God willing.

As previously disclosed in the announcement dated 18-11-2025, there is a related party: Mr. Fahd bin Abdullah Al‑Qassim, a member of the Board of Directors of Taiba Investment Company, serves as Chairman of the Board of Osool Integrated Real Estate Company.

Source: Tadawul