06 March 2005
Beirut (MER) - Aqar Holding strongly denied it is in negotiation with other real estate companies to sell its Al Haram Commercial and Residential Center in Medina, Asharq Al-Awsat reported on Friday.
"This project is strategic to us...we are proceeding with the implementation phase of the project as planned" said Abdullah Al Shareef, member of Aqar board of Directors.
Shareef added "such rumors serve only to create panic among shareholders and delay the progress of the project."
The Al Haram Center project, which includes Bani Al Najajr Mall, is considered to be one of the largest enterprises of its kind in the Kingdom. It is located to the east of the Prophet's Mosque, and is to be built on a 13,650 sq. meter area.
Beirut (MER) - Aqar Holding strongly denied it is in negotiation with other real estate companies to sell its Al Haram Commercial and Residential Center in Medina, Asharq Al-Awsat reported on Friday.
"This project is strategic to us...we are proceeding with the implementation phase of the project as planned" said Abdullah Al Shareef, member of Aqar board of Directors.
Shareef added "such rumors serve only to create panic among shareholders and delay the progress of the project."
The Al Haram Center project, which includes Bani Al Najajr Mall, is considered to be one of the largest enterprises of its kind in the Kingdom. It is located to the east of the Prophet's Mosque, and is to be built on a 13,650 sq. meter area.
© MER (Middle East Reporter) 2005
