Shuaa's hospitality unit buys land in Jeddah

16 March 2010

Shuua Capital's Saudi Arabian unit said its hospitality fund had bought land in Jeddah for a hotel development worth more than $130m, the first ever land acquisition by a hospitality fund in the kingdom. The land will be developed into a luxury hotel tower with affiliated serviced hotel apartments, which will be managed by Rotana Hotel Management Corp.

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