(MENAFN) Sisban Holding, the Saudi Arabian property firm, signed a management investment contract worth USD399.86m over Jeddah's Fairmont hotel, Arabian Business reported.
Fairmont hotel is a tower with 65 levels, overlooking the gulf sea and constituting from a number of 350 rooms, added to the 100 luxury flats that are being operated and run by the hotel.
"In light of the growing demand for the tourism sector, the high-end hotel brands in Jeddah have increased to be one of the first priorities in the light of that enjoyed by the city of standing," the Group Chief Executive Officer said.
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