ArabianBusiness.com - Middle East Business News
Sunday, 22 November 2009 00:23 UAE time

YOUR DIRECTORY /

| Share |

Emaar to develop Saudi billionaire's property plan

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 13 June 2009
BIG DEAL: Kingdom Holding, which is 95-percent owned by billionaire Prince Alwaleed Bin Talal. (Getty Images)
BIG DEAL: Kingdom Holding, which is 95-percent owned by billionaire Prince Alwaleed Bin Talal. (Getty Images)

Saudi-based Kingdom Holding Co said on Saturday it has appointed Emaar Properties as lead developer of a large property project which will feature the world's tallest tower.

Emaar will be in charge of developing and supervising the construction of Jeddah Kingdom City land and Kingdom Tower, said in an emailed statement Kingdom Holding, which is 95-percent owned by billionaire Prince Alwaleed Bin Talal [click here].

"Emaar was selected ... for their previous proven experience in the development of mega projects, their knowledge of the area and social setup," it said.


Related: Back to basics
Story continues below ↓
advertisement

The project, with a total investment of at least 100 billion riyals ($26.7bn), will be located in the Red Sea port city of Jeddah, Kingdom Holding added. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST REAL ESTATE

  1. Abu Dhabi's maximum rent rise set at 5%
  2. Bahrain real estate market held back by delays, traffic - CBRE
  3. Free legal advice move 'too little, too late' - poll
  4. Luxury Dubai developer eyes Saudi for new project
  5. Firm offers guaranteed returns to hotel investors

TOP MIDDLE EAST BUSINESS STORIES

  1. Dubai replaces head of DIFC
  2. UAE expects to see up to 3% economic growth in 2010
  3. Westwood extends lead after Race to Dubai's Day 3
  4. Abu Dhabi Int’l Airport records 7% growth in Oct
  5. UAE bags communication award

ALSO IN MIDDLE EAST REAL ESTATE

  1. Merger technical talks to conclude in a month - Emaar
  2. Dubai property market 'may take 10 years to rebound'
  3. Qatar house prices set to fall 15% next year
  4. Saudi's Tanmiyat eyes projects outside GCC region
  5. Abu Dhabi's maximum rent rise set at 5%

LATEST MIDDLE EAST BUSINESS NEWS

  1. Sport: Westwood extends lead after Race to Dubai's Day 3
  2. Financial Markets: Saudi index down, banks and petchems weigh
  3. Real Estate: Merger technical talks to conclude in a month - Emaar
  4. Banking & Finance: Dubai's Abraaj eyes property investments
  5. Banking & Finance: Emirates NBD launches bank’s new brand identity

SHARE PRICE CHECK

more » MIDDLE EAST MARKETS DATA

EMAAR.DFM

Last Price:

4.33

-0.10-2.26%

19 Nov 2009 09:59 GMT
(Market Closed)

RELATED STORIES

Emaar Properties - UAE
| 649 stories
  1. Merger technical talks to conclude in a month - Emaar
    21 Nov '09 | News
  2. UAE indexes extend losses; property weighs
    19 Nov '09 | News
  3. SABIC weighs as Saudi index ends lower
    18 Nov '09 | News

RELATED LINKS

  1. Emaar Properties - UAE»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Emaar Properties - UAE

  2. Real Estate


CURRENCY CONVERTOR

Tell us your story

UPCOMING ISSUE


 

READER COMMENTS

  1. UAE announces Eid and National Day holidays 02
    21 Nov ' 09 at 10:22
    Is it any wonder that Emiratis are reluctant to work in the private sector? One day extra and no request for early payment of salaries.   More  »
  2. RTA to lease out last batch of retail outlets available on Red Line 01
    21 Nov ' 09 at 14:10
    What happened of Last Minute and their 28 outlets - one on each station?   More  »
  3. Dubai plans start-up help for expat entrepreneurs 01
    21 Nov ' 09 at 11:37
    this is great news really makes sense, especially since Small & Medium Enterprises actually make UAE. I sincerely hope that this is...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY