RIYADH — Holding (Taiba), one of the largest real estate developers in Saudi Arabia renowned for its iconic commercial and hotel projects, has announced its sponsorship of the Saudi Arabia Hotel Investment Conference Exhibition (SHIC) which is being held under the patronage of Prince Sultan Bin Salman Bin Abdul Aziz Al-Saud on Jan. 22-23 at the Marriott Hotel in Riyadh’s Diplomatic Quarter.

The annual high-level event, which will bring together existing and potential hoteliers, investors, developers, government officials and financiers will explore Saudi Arabia’s transforming economic landscape and its impact on the hospitality sector in the Kingdom, and in the wider Middle East and North African region.

Speaking on the sidelines of the event, Eng. Gasem bin Abdul Ghani Al Maimani, President and Chief Executive Officer of Taiba, said: “We are pleased to participate as a major sponsor at the SHIC again this year. As a key industry player with a long and rich history investing in and successfully developing large commercial projects in Medina and other areas in Saudi Arabia, this event provides a great platform for us to share knowledge and experience with other industry thought leaders in the hospitality development and investment space.”

Sohail Al Ali, Director of Investment and Development of Taiba Holding will speak on the panel titled: “Tapping into the Power of Religious Tourism as a Driver for the Hospitality Industry and the Economy”. He added: “Aligned with Saudi Arabia’s Vision 2030, Taiba supports the Kingdom’s efforts towards economic diversification through the growth and development of the tourism industry. At Taiba we have been positively impacting the lives of the people who live in and visit the Kingdom of Saudi Arabia for 30 years through the development of iconic projects that support the growth of Saudi Arabia’s economy, elevate the Kingdom’s tourism infrastructure, and enhance the experience of the visiting global Muslim.”

He continued: “With religious tourism set to exceed 17 million visitors annually by 2025, it is vital that events such as these are held so that effective strategy and industry wide collaboration can take place.”

Established in 1988 and listed on the Saudi Stock Exchange in 1993, Taiba manages a diverse portfolio of investments spanning a number of sectors including real estate, hospitality, agriculture and industry. The company has a long and rich history of investing in and developing large commercial projects in Medina and throughout Saudi Arabia and is a key supporter of Saudi Arabia’s Vision 2030; driving economic diversification by supporting the growth and development of the private sector and in particular the tourism industry.

Eng. Gasem bin Abdul Ghani Al Maimani noted: “Taiba is entering a new era of operation. We are adapting to the Kingdom’s shifting social and economic policies to add more value to our shareholders and the Kingdom at large. The Company owns a substantial land bank across the Kingdom and we are looking to expand our real estate investment and development activities in particular with a focus on acquiring more prime real estate in Central Medina and other areas of Saudi Arabia, and to develop luxury hotel properties. — SG