Alamoudi to Build Tourist Resort

TAIF, 28 August 2005 — Alamoudi Real Estate Group started the operational phase of its first tourist resort in Hada. The project extends over 6,000 square meters and to cost SR16 million to complete. It includes a tourist village, gardens, children’s playgrounds, and two health clubs. Abou Baker Alamoudi, chairman of the group, told Al-Eqtisadiyah newspaper that this is the group’s first project in Al-Hada region. Alamoudi optimistically claimed that the real estate and tourism segments in Saudi Arabia have growth potential of billions of riyals in the coming five years and that investors have realized the opportunity.