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Al-Shoala, Emaar sign $7b Saudi real estate deal

Posted on 06 October 2008

From Bi-me.com: Saudi Arabia Prince Meshal Bin AbdulAziz Al Saud, Chairman of Saudi Arabia’s Bayah Council, and owner of Al-Shoala Group of Establishment announced a SAR 27 billion (US$7.2 billion) joint venture project with Emaar Properties to develop a 31 million square metre master-planned community, Rawabi Rumah, located near Riyadh.

Prince Meshal signed the joint venture with HE Mohamed Ali Alabbar, Chairman, Emaar Properties, in Jeddah, recently. Emaar, a global property developer, will share its core competencies in integrated mega-project development by creating a vibrant community featuring luxury homes and commercial space, retail outlets, healthcare centres, educational institutions and community centres….. Full Article: Source


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