Savola moves into real estate sector
A-Sharq Al-Awsat newspaper has recently reported on a plan by the Savola group to set up a contracting company to develop commercial and residential real estate projects. The paper noted that Savola signed a contract with the Institute for Consultation, Investments, and Mortgaging on the matter of advising about issuing shares in the new company.
Al-Khubayer Financial Advisors Institute signed a contract to provide financial advisory services. The Savola Company is operating in cooperation with German investors to raise the sum of $266 million for the new company.