Saudi Arabia’s Taiba Investments has struck an initial agreement to acquire two hotels in the Kingdom from Shuaa for SR328 million ($87 million). The proposed deal covers the Centro Waha Hotel Riyadh and Centro Shaheen Hotel Jeddah, the company said in a Saudi stock exchange filing on Thursday. The plan is “in line with the Taiba’s strategic direction to focus on real estate investment and development and as part of ...