Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development on Monday signed a memorandum of understanding (MoU) with the Egyptian firm Damietta Furniture City (DFC) at a value of SAR 631.85 million (EGP 3 billion).

The MoU aims to establish and operate a commercial marketing zone which will include an international conferences centre and a 4-star hotel including 200 rooms, exhibition, and celebrations halls over an area of 20,000 metres.

An international shopping and leisure centre will be established, including a fair zone with an area of 70,000 metres and 300 fairs for furniture.

The centre will include a hypermarket, restaurants, cafeterias, an entertainment centre, cars parking areas, and other services.

DFC plans to establish a specialised city in manufacturing furniture, all its related crafts, small- and medium-sized industries, complementary industries, a commercial marketing area, an administrative services area, hospital, technology centre, and other services.