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FINANCIAL NEWS
Red Sea Housing Company to construct USD13.3 m labor complex
29 Sep 2013
(MENAFN) Red Sea Housing Company plans to construct a labor complex in King Abdullah Economic City (KAEC) that may cost about USD13.3 million, and leave an imprint in the country’s improvement, according to Arab News.
The project will extend among 150.000 square meter area in KAEC. The company will begin its constructing operations by the end of the first half of 2014.
Fahd Al-Rasheed, MD & CEO of KAEC, said: “This plan to build and operate a plant is definitely a strategic one and will have a very positive impact on Red Sea Housing. I congratulate the directors of Red Sea Housing on having made a significant investment decision and look forward to giving them all assistance in establishing their new plant in KAEC.”
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