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January 12 2012
Signing of a memorandum of understanding between the two Dammam Development and Accor Hotels

The Dammam construction Company entered into a memorandum of understanding with the French company "ACCOR", the world's specialized company in the global hotel operating sector such as Pullman, Sofutil, Neutel, Ipes, Mirrakore and other world hotels. The agreement was signed at the headquarters of the Dammam Reconstruction Company on Wednesday, 5 Muharram A.H. 1433 (30 November 2011). Under the agreement, Akor will provide a consultancy and operating service for the hotels founded by the Dammam Reconstruction Company and the beginning of a hotel in Al Khobar under construction with a seating capacity of 250 rooms with universal specifications.

This agreement is an important step in the continuing efforts of the two companies to strengthen the partnership to provide adequate housing in the region.

The executive chairman of the Dammam Reconstruction Company, Prof. Mohammed bin Rashid bin Ahmed al-Dossari, praised the agreement and said that the kingdom is witnessing a comprehensive development in the Government of the server the Two Holy Mosques King Abdullah bin Abdulaziz Al-Abdullah, accompanied by this renaissance, increased visits to the eastern region, both By businessmen or visitors from within and outside the kingdom requiring adequate accommodation by fitting places that are commensurate with this steady increase the company has seen Dammam for reconstruction, in turn, being one of the leading real estate developers in the region to expand its work to include entry In the hospitality and hotels sector, through partnership with the French world Company "Akur", which is operating for the World Series of hotels, so that it plays its advisory role and operates the hotels that are constructed by the Dammam reconstruction Company. He also stressed that there are long-term plans that will contribute to increased cooperation between the two companies.

Eng. Jamal al-Yamami, deputy chief executive officer of Dammam Reconstruction Company, said that the MOU with the company of Akor was of particular importance in terms partnership with global-level actors is widespread and reflects our eagerness to support the development of hospitality and hotels through the provision of global expertise Satisfy all tastes in terms of high quality accommodation and outstanding service.

The company of Akur has a global reputation for offering consulting and hotel services and providing many of the world's wide-ranging brand of economical hotels to luxury and provide for its customers and its scavenger the Derhoralkhaberhalba for nearly 45 years spread over all the countries of the world , which makes the leading player in the worlds field of hotels.

For more than 40 years, accord is developing its business in keeping pace with global changes with the aim of providing the highest quality standards to hotel and partner clients. The first accord in the world in terms of the operation of hotels is the units they own, lease or manage under the management contract. The staff of the company, Akor 145000, are employed in more than 4200 hotels in 90 countries with more than 500,000 rooms, and the brands of world hotels include a wide range of different categories such as: Sovtel, Pullman, Umm Galari, Novotel, Mirkor, IPAs, Ettab and others.

The Dammam Construction Company is a closed Saudi shareholding company, whose activity is concentrated in real estate development and started in 2003 with a capital of SAR 100 million. The company owns a group of Saudi investors established to develop real estate investment activity locally and in the Gulf region. The company's activity in addition to development and real estate investment includes the provision of property management services. The company was created after the development of industrial projects in the Gulf region, accompanied by an increase in the population and the need to further develop real estate projects.

In view of the success of the company, the company's management considered the importance of the diversification of the investments and the geographical growth of the company and the focus on the company's progress towards universality. The company is constantly looking to upgrade the services provided, including community service, taking into account its main objective of balancing real estate investment and contributing to the national economy through the provision of real estate attractions.