Accor has committed to opening a new ibis-branded hotel property on Egypt's North Coast.
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Al Ramz Real Estate Company (Saudi-listed) signed agreements to acquire the remaining units in the Al Ahli Aleen Enbar Real Estate Fund -- owner of the Qurtuba 2 mixed-use project in Riyadh -- from the fund's other unitholders for SAR 133 million ($35.5 million), raising Al Ramz's ownership from 23% to 100%. Qurtuba 2 spans about 130,386 sqm along Prince Mohammed bin Salman Road with roughly 1,800 residential units and 250 commercial/office units.
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