Riyadh – Mubasher: The board members of both Taiba Investments Company and Dur Hospitality Company have agreed to start initial preliminary negotiations to consider merging the two entities.

Taiba Investments and Dur Hospitality will announce any further developments in due course, the two firms said in separate bourse disclosures on Sunday.  

The companies noted that the initial discussions do not confirm that the merger would take place between the two parties.

Riyadh-based Dur Hospitality operates in the consumer services sector focusing and focuses on hotels, resorts and cruise lines. Taiba Investments, which is based in Medina operates in the real estate sector.