The Ministry of Municipal, Rural Affairs and Housing (MOMRA) of Saudi Arabia has enlisted OYO Rooms, a global travel-tech firm, for a comprehensive audit of accommodations. OYO will certify units adhering to MOMRA's standards, with audits initiated in January 2020 to maintain accommodation quality for the labor force.

Private entities with 20+ employees must provide suitable accommodations. Audits are annual, and housing licenses last a year, evaluating safety, hygiene, and quality. In December 2020, MOMRA allowed  OYO to expedite housing audits.

OYO's mobile app streamlines audits, ensuring MOMRA compliance with real-time data capture, photo documentation, and instant updates. It maintains transparency and standards.

OYO advises corrective measures for organizations with gaps, aligning with MOMRA standards. Successful audits include units for McDonald's, Al Mraie, IKK Group, Al Bawani, Pepsi Al Jomaih, Saudi Logistics Services, and Al Majal.

OYO manages 50+ Saudi hotels, planning expansion. The partnership supports Vision 2030, aiming to make Saudi Arabia a global investment hub. Mohannad Bazerbashi, OYO Saudi Arabia's Country Head, emphasizes new hospitality standards.

Abdulaziz Younis, Staff Housing Officer at Riyadh International Food (McDonald's), praises the app's efficiency and transparency for swift license acquisition and MOMRA compliance.

A Knight Frank report predicts 310,000 Saudi hotel rooms by 2030 with a $110 billion investment. The segment may generate $3.02 billion by 2027, highlighting the need for streamlined approvals.

This partnership underscores OYO's commitment to enhance Saudi Arabia's hospitality, supporting its vision to be a premier travel destination, driving economic growth through collaborations. OYO remains devoted to quality, affordable stays.

Journey of Oyo Unlisted Shares 

The Oyo Unlisted Shares exhibited notable market dynamics over the past year. In December 2022, the Oyo Unlisted Shares Price stood at Rs. 75, experiencing a subsequent increase to Rs. 90 by July 2023. However, as of December 2023, the Oyo Unlisted Shares is currently trading at Rs. 82.

The Oyo Unlisted Shares demonstrated a growth of approximately 9.33% annually during this period.