Banan to Develop 54.9M Riyal Hotel

Banan Real Estate Company signed a contract valued at approximately 54.9 million Riyals with Afaaq Al Qimmah Al Rabi'ah Al Mutatawwirah for the development and marketing of a hotel project in the Al Rihmaniya neighborhood of Riyadh. The contract, signed on July 2, 2026, is for a period of two years, under which Banan will oversee the development and marketing operations of the project, which is situated on a plot of land measuring 3,284 square meters and owned by Artal Real Estate Development Fund IV. It is expected that this contract will contribute to improving the company's financial results starting from the second half of 2026.

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