RIYADH, 18 March 2004 — Abdul Rahman Al-Juraisy, president of the Riyadh Chamber of Commerce & Industry, has announced that the Real Estate Financing Company is seeking a 50 percent infusion of capital this year by seeking to attract investments from large establishments and companies. In a press conference after signing a contract with Michael Parkhouse of the Gulf Bank which will handle the process, Al-Juraisy stated that a quality and benefits study would be conducted over a 6-month period.
He also said that the Gulf Bank had been chosen after thorough research and recognition of the bank’s reputation for experience and expertise in underwriting large companies and establishments all over the world. Khaled Al-Muqairen, deputy president of the founding committee for the company said that the study to be conducted by Gulf Bank would include the company’s structure, financing mechanisms, operation laws, financing governmental systems as well as defining its capital capacity.