We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Fri 25 Mar 2016 10:14 AM

Font Size

- Aa +

Plans unveiled for $160m Burj Ramala project in Riyadh

Ramla Real Estate Development Co says 150m tower is scheduled to be completed in Q3 2018

Plans unveiled for $160m Burj Ramala project in Riyadh
GCC construction, Middle East construction

A unit of Naif Al-Rajhi Investment has announced plans to launch a SR600 ($160 million) million real estate project in the Saudi capital city of Riyadh.

Ramla Real Estate Development Company, owned by Naif Al Rajhi Investment, said in a statement that the Burj Ramla tower project was scheduled for completion in the third quarter of 2018.

Burj Ramla will be more than 150 metres tall and will be built on King Fahad Road, north of Riyadh's financial district. No further details were revealed.

Naif Al-Rajhi, managing director of Ramla, said: "Our goal is to work with strategic partners, investors, developers, financiers and international companies to develop our investment projects portfolio that integrate with the goals of the visionary leadership of the kingdom to enhance our global competitiveness, and thus strengthen our position globally."

Jacques Al Boustani, CEO of Ramla addeed: "The announcement of Burj Ramla during this time comes to confirm our confidence in the Saudi economy, the strongest markets in the region and the most stable in general."

He said the Burj Ramla "will be the new address of excellence and will have clear impact on Riyadh's architecture by its innovative design and unprecedented services".

Arabian Business: why we're going behind a paywall

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.