SICO Capital Company has entered into a leasing agreement for the Eskan Hospitality Towers with Moro International Company, valued at SR 9,130,435, to optimize asset utilization within the thriving Saudi Arabian hospitality sector.
Information on the Target
SICO Capital Company has announced a significant leasing agreement involving the SICO Saudi REIT Fund, which owns the Eskan Hospitality Towers. This transaction specifically concerns the leasing of three prominent properties: Eskan Tower 4, Eskan Tower 5, and Eskan Tower 6. The properties are being leased to Moro International Company for Apartments and Hotels, reflecting the Fund's strategic initiative to maximize asset utilization and revenue.
The net lease value for this agreement is set at SR 9,130,435. This leasing arrangement underscores the ongoing commitment of SICO Capital to enhance the operational efficiency of its portfolio while providing quality hospitality solutions through its partnerships with established industry players.
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Industry Overview in Saudi Arabia
The Saudi Arabian hospitality sector has experienced robust growth in recent years, driven by a surge in tourism and government initiatives aimed at promoting the Kingdom as an internati
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Moro International Company for Apartments and Hotels
invested in
Eskan Hospitality Towers (Eskan Tower 4, Eskan Tower 5 and Eskan Tower 6)
in 2023
in a Other deal
Disclosed details
Transaction Size: $2M