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Ziyad Bin Mahfouz, CEO, Elaf Group (left) and Aymen Bin Hamza Saeed, CEO, Al Aqeeq Real Estate Development (right) during the signing ceremony Ziyad Bin Mahfouz, CEO, Elaf Group (left) and Aymen Bin Hamza Saeed, CEO, Al Aqeeq Real Estate Development (right) during the signing ceremony

Elaf Group to Rent Saudi Property

Elaf Group has entered into a strategic lease partnership agreement with Al Aqeeq Real Estate Development to rent the Al Majeedi Residential Center situated in front of Al-Masjid Al-Nabawi.

The agreement comes in line with the support of the Saudia Arabia's government efforts to boost the domestic travel and tourism sector in line with the country's economic diversification scheme.

Under terms of the agreement, the Al Majeedi Residential Center will be renamed as Elaf Al Majeedi Hotel.

The new hotel is expected to accommodate the growing number of tourists who visit the country for religious purposes such as Hajj and Umrah as well as to see religious sights and its rich cultural traditions.