A consortium of five Kuwaiti companies led by the Kuwait Real Estate Company (KREC) and the Saudi Bin Laden group signed a contract for the investment of the Al-Maqam Tower in the Saudi holy city of Mecca at a total cost of 176 million Kuwaiti Dinars (US$607 million), a press release on Saturday indicated.
The statement said the Kuwaiti companies would have a time period of 25 years to invest in one of the seven towers built on the King Abdulaziz endownment in the holy shrine area in Mecca.
