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Dur Hospitality Co. Announces an update on which Dur Hospitality Co. Announces the Signing of a Memorandum of Understanding (MoU) with the Smart Zone Real Estate Company (wholly owned by stc)
| Element List | Explanation |
|---|---|
| Introduction | A reference to the announcement of Dur Hospitality Co. on Tadawul website on 22/03/1444 H corresponding to 18/10/2022 that it had signed a non-binding memorandum of understanding (MoU) with the Smart Real Estate Company (wholly owned by stc) with the aim of developing a hotel project that will be built within the stc Square project in Riyadh, which is being developed by Aqalat Company Ltd (wholly owned by stc). Dur Hospitality Co. announces an extension of the period of the non-binding memorandum of understanding with the Smart Zone Real Estate Company for a period of three months, ending on 18/04/2023 with the same terms and conditions, in accordance with the agreement signed between the two parties. To complete the required studies, as this required time to determine the development cost and operational components of the project. Any significant developments will be announced in due course. |
| Previous Announcement | Dur Hospitality Co. Announces the Signing of a Memorandum of Understanding (MoU) with the Smart Zone Real Estate Company (wholly owned by stc) |
| Date of Previous Announcement on Tadawul's Website | 2022-10-18 Corresponding to 1444-03-22 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | 2023-04-18 |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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