Elaf Group to complete properties between 2012 and 2014, in line with expansion of investment portfolio
Saudi hospitality firm, Elaf Group has commenced the construction of four new properties in the Kingdom. The new hotels will be built in the Western Region cities of Jeddah, Makkah and Madinah at a total cost of $106.6m, Elaf said.
Set for completion between 2012 to 2014 depending on property, the hotels include the ’Elaf Bakkah’ and the ’Elaf Al Kawthar’ in Makkah; the ’Elaf Galleria’ in Jeddah and another hotel in Madinah to be named later.
The move is part of a company strategy by Elaf to double the number of its hotel rooms in Saudi Arabia to 5,000 before the end of the year.
“The announcement of these four new projects is in line with our efforts to expand our investment portfolio,” said Ziyad Bin Mahfouz, the president of Elaf Group.