Al-Rajhi Council Sets Up New Project

RIYADH, 9 October 2005 — Abdul Aziz Al-Rajhi business administration council announced the establishment of the largest real estate project in Riyadh at Al-Ghadeer. The project includes a business city, a high rise with 30 floors, a mall and more than 50 commercial and residential towers. The council is also preparing to establish a closed real estate investment company with a capital of SR1 billion. The company’s main role would be to develop Al-Ghadeer, establish the project and operate it, reported Al-Eqtisadiah newspaper.