Two Saudi real estate firms sign deal
According to Al-Jazirah newspaper, the Al-Omari Real Estate Company and the Kattaf Real Estate Investment and Development Company signed a joint venture agreement to launch huge joint real estate projects.
Mr. Khaled Al-Saeed, Director General of the Kattaf Company, estimates at SR 400 million the value of the joint investments by the two companies. The two companies signed their joint agreement during the 8th Riyadh Real Estate and Development exhibition, which took place at Riyadh Exhibitions center from 8/5/05 till 13/5/05 in Riyadh. The two groups are also expected to jointly launch a big real estate project in Dubai.