Adeer signs exclusive deal to market Millennium Hotel in Makkah

Adeer Real Estate Co. signed an exclusive agreement on June 27 to market and sell the Millennium Hotel in Makkah. The six-month contract is with Al Nubalaa International Real Estate Investment Co. Ltd.

Adeer said the deal will likely have a positive financial impact once the sale closes. The agreement gives Adeer the sole right to find a buyer for the property. The hotel is located in Makkah, a key destination for religious tourism. Adeer is a Saudi real estate company listed on the Saudi Stock Exchange. The contract runs through the end of 2025. Adeer did not disclose the expected sale price or any commission terms.