Across the World: Saudi

Arabia $7.2b project near capital

Saudi Arabia's Al-Shoala Group and Dubai-based Emaar Properties have teamed up on a $7.2 billion community project near the Saudi capital of Riyadh.

Emaar said the Rawabi Rumah project will have luxury homes, apartments, commercial and retail space, hospitals and community centers. The community project will include a 162-hectare park.

Al-Shoala's chairman, Prince Meshal bin Abdul-Aziz, said on Saturday that the project will create 25,000 jobs.

"Rawabi Rumah will be a trend-setting development and a new lifestyle destination for the Saudi people," Meshal said.

(China Daily 10/06/2008 page8)