Taiba Investment Commemorates the Year of the Camel

Taiba Investments’ participation in the Year of the Camel 2024 celebration facilitated the Saudi Ministry of Culture’s efforts to boost cultural and local tourism, highlighting the significance of camels in Saudi civilization.

It also highlights the animal’s long-standing connection to the Kingdom of Saudi Arabia’s historical roots.

The company’s support for Saudi Vision 2030’s National Tourism Strategy aims to enhance the Kingdom’s cultural identity. Moreover, it to attract 150 million tourists annually by 2030, thereby enhancing its global appeal.

To keep up with the “Saudi Summer” season, Taiba Investment’s hotel chain engaged in several events and activities. Particularly those that promoted culture and raised awareness.

Holiday Inn Jubail Hotel and Suites, Holiday Inn Hotel and Suites Tabuk, Makarem Hotels, Crowne Plaza Riyadh Palace Hotel, and Riyadh Airport Marriott Hotel were among the participating hotels, giving them the chance to prepare unique meals for the event that use camel-derived nutrients.

A wide range of goods and handicrafts are on display. Plus, guests and visitors receive gifts as a memento of the region’s and the Kingdom’s intimate relationship with camels. That defines their identity and has long been a source of pride.

Notably, “Taiba Investments” has actively supported the Year of Arabic Calligraphy, Saudi Coffee, Arabic Poetry, and national days, as well as activating cultural seasons like the Ramadan cultural season, by keeping up with the Ministry of Culture’s initiatives to incorporate local content into its hotels and facilities.

Taiba Investment Company Establishment

Founded in 1988, Taiba Investment Company is a major operator in the hotel and real estate sectors in Saudi Arabia. It is a well-known corporation in the real estate development, asset management, property and facilities management, and hotel industries.

The company owns a diverse portfolio of 39 properties. It includes hotels, flat buildings, and shopping malls, with over 7,700 keys and 20 more in construction.

Taiba Investment Company is committed to delivering exceptional lodging and hospitality services through its network of Saudi-based experts. Dur Communities, Nour by Makarem, Makarem Hotels, and Al Aqiq Hotels are all included in this.

The company’s collaboration with several globally renowned brands, including IHG Hotels and Resorts, Marriott International, Accor, Millennium Hotels and Resorts, and Hilton Worldwide, bolsters its capacity to offer and cultivate an extensive array of exceptional hospitality and lodging options catering to a diverse range of patrons.

Taiba Investments Achieves Robust H1 2024 Financial Results

Taiba Investments reported strong financial results in the first half of 2024, indicating significant growth in revenue and profitability. The company’s success is attributed to its expansion and operational strategy, particularly the merger with Dur Hospitality, which significantly increased its hospitality revenue.

Furthermore, Taiba Investments’ Q2 2024 financial report shows a significant increase in operating revenues. It reached SAR 377.4 million, —an impressive 187.8% increase year-over-year. A 225% surge in net profits to SAR 89.58 million, solidifying its position as a leading player in the hospitality sector.

The company experienced a 193% increase in total revenues to SAR 709.47 million in the first half of 2024. Compared to the same period in 2023, and a 123.2% year-over-year growth in net profit to SAR 200 million.

The merger with Dur Hospitality significantly increased the company’s revenue streams, boosted by increased Umrah performers, visitors, and pilgrims during 1445 AH, and various Riyadh-based entertainment events.

Taiba Investments’ financial performance aligns with Saudi Vision 2030’s economic diversification and tourism sector advancement, demonstrating sustainable growth and value creation through targeted acquisitions and sustained growth.