RIYADH, 20 May 2007 — A major agreement was signed here yesterday to construct a “mini-city” in the capital at a cost of SR6 billion.
The construction deal, to be completed in three years, was signed by Prince Mishal ibn Abdul Aziz, chairman of Al-Shoulah Group, and Eng. Ahmed Al-Rajhi, chairman of the consortium comprising Land Company and Taameer Company.
“The project dubbed Ajmakan — beautiful place — is going to be a useful project that would attract a large number of people who like to live in a comfortable environment,” Prince Abdul Aziz Al-Mishael, general manager of Al-Shoula Group said, pointing out that “it will be a place for relaxation for nature lovers who would like the sight of natural landscape.”
Eng. Riyadh Al-Bisiri, vice president of Al-Rajhi Investment Group, said that the 1.7 million-square meter project is to be built in Al-Khozama area located on the west of King Saud University. The complex will have five palaces, a five-star hotel, modern boutiques, villas, beautiful landscape, walking area and necessary infrastructure facilities for a cozy living, he added.
“Instead of the regular shopping malls, we are planning to build rows of boutiques for the convenience of shoppers who will enjoy different styles of shops in the complex.”
