Taiba Investments Co. has awarded the construction contract for the Sheraton Taiba Hotel project in Madinah to the Saudi Arabian Construction Company, at a value of SAR 430.7 million.
The five-star hotel, which will consist of twin towers and 19 stories, will be built on a 2,005m2 land parcel adjacent to the Prophet’s Mosque and feature 435 keys. The two towers will be connected by a bridge.
The project will feature a total of 435 keys
According to market data source STR, 32,621 hotel rooms are now being built in Saudi Arabia as the Kingdom is now once again ready to accommodate the pent-up demand from pilgrims visiting its holy sites.