DAMMAM, 8 July 2003 — Al-Hussaini Company for Real Estate Investment and Talal Al-Qunaim Group have bought 50 percent of the shares of the Meridien Towers project in Makkah, which were offered for subscription by the holding company, Saudi Amjad.
Abdulwahid Al-Obaid, chairman of Saudi Amjad, said the two companies agreed to pay SR500 million for the Makkah Meridien Tower project, which is to be implemented over 24 months at a cost of SR1 billion on an area of some 165,000 square meters.
