Saudi Arabia: First real estate project based on partnership
According to Al-Sharq Al-Awsat newspaper, a Saudi real estate company announced offering the first real estate investment project based on 15 year partnership rather than on investment. Mr. Walid Al-Salloum, Director General of Aqar and Building Company for Real Estate Investments, said that the project's area stands at 190,000 square meters in Al-Khobar city and along the Arabian Gulf.
He added that all infrastructure services, including water, electricity and communication, were connected to the project's site. The director also said that the project will be offered to investors for subscription in the next three weeks.