Al Tayar Travel Group has signed a memorandum of understanding (MoU) with Alistithmar for Financial Securities and Brokerage Co. (Alistithmar Capital) to set up a real estate investment trust (REIT), the travel services provider said in a statement to Tadawul.

 

The new fund, in which Al Tayyar will own a majority stake, will offer four hotels in Makkah, including, Sheraton hotel units and Ajyad Al Masafi building.

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