Shuaa Capital has announced the successful completion of the sale of its Saudi hotel assets portfolio for a total value of SAR 515 million.  

The portfolio, managed by Shuaa Capital Saudi Arabia, a subsidiary of Shuaa Capital, comprises three prime hotel properties strategically located in Riyadh, Jeddah, and Dammam.  

Shuaa Capital’s share in the portfolio stands at 33%, and the transaction is expected to have a positive impact on the company’s profit and loss account and balance sheet, amounting to approximately AED 19.6 million.  

The proceeds from the sale will be utilized by Shuaa to reduce its liabilities and strengthen its overall financial position, as stated in the company's announcement.