JEDDAH, 16 June 2006 — Partners for Development, Investment and Tourism Company signed a contract with German L.E.G. for real estate development for establishing “Innovation Village”, a tourism, commercial and residential project in Asen, Germany, for SR600 million. Hani Yamani, general manager of Partners Company, signed the contract with the mayor of Asen at the Jeddah Chamber of Commerce and Industry last week. The project’s capital is 100 percent Saudi and is considered the first tourism, commercial and residential project by the private sector in Asen.