RIYADH, 25 April 2005 — Rikaz for Development & Planning, the leading Saudi Arabian real estate company, unveiled Royal Amwaj Resort on Half Moon Bay in the Eastern Province of the Kingdom at a gala dinner at the Four Seasons Hotel, attended by more than 1000 guests. The Royal Amwaj Resort is one of a new generation of mixed-use communities planned by Rikaz as part of its real estate development program, which is expected to set a new precedent for large-scale urban and tourism developments in the Kingdom. Speaking at a press conference, president and CEO of Rikaz, Khalid Al-Gahtani, said, “The launch of the Royal Amwaj Resort heralds a new era in the development of the Saudi Arabian real estate and tourism industry. The real estate industry should be based on modern architecture that is sensitive to society’s values and the environment, together with regulated investment schemes that would enhance investors’ protection. “
