Economic sources in Riyadh estimate the total capital invested in the Saudi real estate sector at 900 billion Saudi Riyals ($240 billion), reported Al Hayat. The same sources estimate the value of the total capital invested in the real estate sector in Riyadh city alone at SR 24 billion ($6.4 billion) in the past two years. The local building sector is expected to earn extra economic revenues valued at two billion Saudi Riyals ($533 million) because of the Saudi decision to allow foreigners to own real estate assets in the Kingdom. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
