Emaar Middle East (EME), a joint venture between the UAE-based Emaar Properties and Saudi-based real estate company Al Oula Development, has launched a SR42 billion ($11.2 billion) project for the development of Jeddah Hills community located in the Red Sea city.
The development marks the second major foray into Saudi Arabia for Emaar Properties, with the massive 2,286 hectare Jeddah Hills project, following the announcement of the $26.6 billion King Abdullah Economic City in December last year.
