RIYADH: Taiba Investments Co., supported by the Public Investment Fund, has reached a deal to build three hotels in central Madinah for a total of SR2.4 billion ($633.4 million). Taiba will pay SR300 million to the project, and the company will establish a special purpose company alongside Osool Integrated Real Estate Co.
Osool Integrated Real Estate Co. owns the hotels, which will have 1,500 additional rooms and be run by regional and global hotel chains. As Saudi Arabia builds infrastructure for tourist and religious hospitality under Vision 2030, the program is being introduced at a time when Madinah’s hotel industry is seeing rapid expansion.
According to official data from the Ministry of Tourism, Madinah ranked first among Saudi cities in hotel occupancy in 2025 and had the highest rate in the Kingdom in the first quarter of 2026, at almost 82%.
This agreement represents a strategic step within Osool’s drive to maximize the worth of real estate assets through the development of sustainable partnerships with institutions with specialized national entities, contributing to the development of high-quality projects with long-term economic and operational impact,” stated Feras Al-Banyan, CEO of Osool Integrated Real Estate Co.
We see this project as an integrated model that demonstrates our capacity to create strategic assets and turn them into first-rate hospitality destinations that support the Kingdom’s urban and tourism development objectives.
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