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Discuss this article (0 Comments)Arabic Press Review - Sept 18
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 18 September 2007
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In today's Arabic press, Saudi Arabia's Al Eqtisadiah newspaper reveals that Kingdom Holding has appointed the United States' Bechtel Corporation to lead the development of its giant Jeddah real estate project.
The privately-owned company has been chosen to supervise the construction of the 50 billion Saudi riyal ($13.3 billion) project.
Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, said yesterday that Bechtel won over other seven companies that bid for the project.
The Jeddah project has an area of 5.3 million square meters located in the city's northern area on the Red Sea coastline.
Bechtel is a global engineering, construction and project management company with 40 offices around the world.
...and in other news...
Al Watan, Saudi Arabia: A committee set up by Riyadh governorate and the city's Chamber of Commerce and Industry advised authorities to urgently launch measures to control prices and crack down on commercial fraud in order to tame the surge in prices.
Al Eqtisadiah, Saudi Arabia: Assets under management by Saudi equity funds fell 0.7% in the week to September 12, compared with a 0.6% drop in the benchmark index.
Al Riyadh, Saudi Arabia: The benchmark Argaam Petrochemical index rose for the ninth week in a row as the price of ethylene glycol rose 0.7% to a new record $1,350 per tonne.
Al Watan, Kuwait: Several key positions in the ministry of commerce and trade, which supervises the stock exchange, are being reshuffled and decisions will be announced in the next few days.
Al Nahar, Kuwait: Al Dar National Real Estate has approached four financial institutions to get a loan worth 80 million dinars ($284.8 million).
Al Seyassah, Kuwait: Kuwait's National Cleaning Company has won a tender in Abu Dhabi in a deal worth 122 million UAE dirhams ($33.22 million).
Al Ittihad, UAE: Real estate developer Saraya has started a services company, said Deputy Chairman Ali Qola Ghassi, without saying what services the firm would offer.
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