Procurement News Notice |
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| PNN | 76872 |
| Work Detail | Firm plans mixed-use development on the 32mln sqm plot Saudi-based asset management company Areeb Capital announced on Monday that one of its investment funds acquired a 32-million-square-metre plot of land in Dammam in the Eastern Province for a total value of 12 billion Saudi riyals ($3.2 billion). The Capital Market Authority (CMA)-licensed firm said in a press statement that it intends to build a mixed-use development on the plot located in Al-Naseem district on King Faisal Coastal Street. The deal was financed with the support of group of investors and Sharia-compliant banking facilities from several Saudi banks, but details weren’t disclosed. |
| Country | Saudi Arabia , Asia |
| Industry | Construction |
| Entry Date | 17 Sep 2024 |
| Source | https://www.zawya.com/en/projects/construction/saudis-areeb-capital-concludes-32bln-land-deal-in-dammam-gtl4sogh |
