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FINANCIAL NEWS
Kingdom Holding to invest USD11.67m to expand Kingdom Center
07 Feb 2012
(MENAFN) The Kingdom Holding Company (KHC) said that it plans to expand Kingdom Center Company Ltd., in which KHC holds a 36 percent interest, with an investment of USD11.67 million, reported Arab News.
The company added that the total area of the expansion would be 13,550 square meters, whereas the return on investment would be around 35 percent per year.
It also said that the expansion of the Trade Center, which was completed in 2002, would include common area and service facilities, in addition to 26 commercial stores with a total of 3,580 square meters.
Moreover, it would also include 10 commercial stands occupying 157 square meter, an 874 square meters children recreation area, 27 food stalls totaling 1,420 square meters and a 600 square meter mosque.
It is worthy noting that the Kingdom Center encompasses the Al-Mamlaka shopping mall and a 300-meter office tower.
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