According to Al-Yaum newspaper (July 4, 2005), Mr. Ayedh Al-Kahtani, Chairman of the Al Ola Development Company, announced that Al Ola Company has bought a number of plots in Riyadh and Dammam for SR 600 million ($160 million).
The chairman estimated the area of these plots at more than 11 square meters. Mr. Kahtani added that the newly purchased land will be used for establishing two new industrial estates in Riyadh and Dammam. He also said that Al Ola has purchased the land in an effort to diversify its investments in the real estate sector.
