According to Al-Sharq Al-Awast newspaper, the Al-Khalil Real Estate Investment and Development Group and the Mohammed Bin Saidan Real Estate Group of Companies have signed a SR 151 million ($40 million) deal to jointly buy a piece of land in southern Riyadh. The area of this land is estimated at 2.5 million square meters.
Mr. Mohammed Bin Saoud Al-Khalil, Chairman of the Al-Khalil Real Estate Group, said that this lot is appropriate for building specialized warehouses. The chairman added that his company had already signed a SR 48 million with the Arabian Al-Sakhra Company to construct the necessary infrastructure for the future warehouses project in this land.
