09 May 2010
Beirut Saudi Arabia's Al Oula Real Estate Dev-elopment Co. plans to launch in mid-June a real estate fund to fin-ance the first phase of its Future Industrial City project near Riyadh worth 231 million Saudi riyals ($61.6 million), Saudi-based Al Riyadh daily reported yesterday.
Al Oula has signed a contract with Sidra Capital, which will act as the fund's financial adviser and manager, the paper reported, adding that Al Oula's unit Al Oula Mawarid will start work in the next few months on the project's first phase, which will cover almost 1.14 million square metews of the industrial city project.
Beirut Saudi Arabia's Al Oula Real Estate Dev-elopment Co. plans to launch in mid-June a real estate fund to fin-ance the first phase of its Future Industrial City project near Riyadh worth 231 million Saudi riyals ($61.6 million), Saudi-based Al Riyadh daily reported yesterday.
Al Oula has signed a contract with Sidra Capital, which will act as the fund's financial adviser and manager, the paper reported, adding that Al Oula's unit Al Oula Mawarid will start work in the next few months on the project's first phase, which will cover almost 1.14 million square metews of the industrial city project.
By Staff Reporter
© Gulf News 2010
