According to Al-Khaleej newspaper (June 14, 2005), during its appearance at the 8th Riyadh Real Estate and Development exhibition, Mr. Sattam Al-Sawwat, the Dubai's Office Director of the Saudi Mohammed Albakree Trading and Investment Group, revealed that Albakree Group is planning to set up the second tallest tower in Dubai. He added that the 114-storey tower will be located at Sheikh Zayed Road. The director estimated his group's current investments in the UAE at SR 2.1 billion, which are mainly consist of strategic land ownership for future towers building. Albakree prefers investing in Dubai due to the available investment safety and unique investment opportunities, said the director.
