Shuaa Capital Saudi Arabia has concluded a land acquisition on behalf of the Shuaa Saudi Hospitality Fund I.
The acquired property is situated in Jeddah Corniche with views of the Red Sea. The land will be developed into a luxury hotel tower, to be managed by Rotana Hotel Management Corporation and the project total cost is estimated at $133 million. The SHUAA Hospitality fund has a target size of $533 million.
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