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FINANCIAL NEWS
UAE’s Emaar keen to build a Downtown in Riyadh
02 Apr 2013
(MENAFN) UAE-based Emaar Properties’ chairman Mohamed Alabbar is looking to set up a Downtown project in Saudi Arabia, reported Arabian Business.
Alabbar said that the location has been selected for constructing the project, in the Saudi capital “Riyadh” and that it will be the same size as Dubai’s Downtown.
Furthermore, Emaar is also considering the Turkish and Iraqi markets in addition to the overseas projects currently taking place in Cairo.
It’s worth noting that Emaar’s net income for 2012 saw an 18 percent increase to USD577 million.
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