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Jenan to invest $1.3bn in two Saudi projects
- Saudi Arabia: Sunday, May 31 - 2009 at 12:08
Bassam Boodai, chief executive of Saudi property developer Jenan Properties, told Reuters his company is spending SR5bn ($1.33bn) on two projects that he hopes will be ready by the time the domestic property market recovers. He said the company recently signed a design agreement with a Canadian firm for a mixed-use complex with three towers in the eastern city of Khobar which will cost SR1bn. The company expects to wrap up the investment plan for the second project by the end of the year; it consists of a seaside resort covering an area of 2.8 square kilometres on the Gulf coast.
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StaffSunday, May 31 - 2009 at 12:08 UAE local time (GMT+4)
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