Emaar Hospitality, the hospitality and leisure business of Emaar Properties, has signed an agreement to manage its first hotel in Saudi Arabia.
The news was clarified by the group in a statement posted on Dubai Financial Market’s website.
“We would like to clarify that entering into a hotel management agreement is in the normal course of business for Emaar Hospitaity,” it said.
The agreement is not expected to have a material impact on Emaar Properties’ financials, the company said.
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