TAIBA Company announces that one of its subsidiaries, Smart Hotel Zone Company, has signed a contract for the execution of the hotel building project, which will be established as part of the STC Square mixed-use project in Riyadh, with the main contractor, Al-Saad Contracting Company.

Smart Hotel Zone Company, has signed a contract for the execution of the hotel building project

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Element List	Explanation
Introduction	The Smart Hotel Zone Company, owned 84% by Taiba Investments Company, has signed an agreement with Al-Saad Contracting Company, to carry out the construction works of the Marriott Hotel building project located within the STC Square complex in Riyadh, as a main contractor.
Date of Announcement of the Award	2025-12-11 Corresponding to 1447-06-20
Contract Subject Matter	Execution of a Hotel Building Project in Riyadh
The Entity with Which the Contract was Signed	Al-Saad Contracting Company
Date of Signing the Contract	2025-12-11 Corresponding to 1447-06-20
Contract Value	SAR 181.5 million (excluding VAT)
Contract Details	Execution of the hotel project, which consists of 159 hotel keys, featuring a rooftop swimming pool and a fitness club. The hotel will have a contemporary design incorporating the latest technological solutions in guest rooms as well as in hotel management and operations. Additionally, the hotel will include versatile meeting rooms and a variety of restaurants.
Contract Duration	24 months from the signing date
Financial Impact and the Relevant Period	After the completion of the project implementation and its preparation for operation, which is expected to be during the first quarter of 2028.
Related Parties	None
Additional Information	This project represents a strategic step within Taiba Investments Company’s approach to strengthen its presence in the hotel hospitality sector in major cities, in line with the objectives of Saudi Arabia’s Vision 2030 to support domestic tourism and develop hotel infrastructure. It also reflects Taiba’s commitment to delivering a high-quality hospitality experience according to international standards, integrating the latest digital technologies to provide a seamless guest experience, including smart connectivity solutions and digital hospitality services. The project is expected to enhance the level of hotel services in the capital, Riyadh, and support the business sector by providing advanced meeting and conference facilities.