Alwaleed signs deal to expand Kingdom City

HRH Prince Alwaleed Bin Talal Bin AbdulAziz Alsaud, chairman of Kingdom Holding Company (KHC), signed a deal to expand SR 400 million (US $109 million) residential compound Kingdom City in Riyadh.

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By  Massoud Derhally Published  April 29, 2003

HRH Prince Alwaleed Bin Talal Bin AbdulAziz Alsaud, chairman of Kingdom Holding Company (KHC), signed a deal to expand SR 400 million (US $109 million) residential compound Kingdom City in Riyadh.

The contract was signed between Kingdom City’s Real-Estate Investment Company Limited, headed by Prince Alwaleed and a national company specialized in real-estate.

The company in question was selected from among several competitors to handle the expansion project that is expected to meet the increasing demands for residential units in Kingdom City.

The expansion of Kingdom City, set to be complete by November 2003, will entail developing a 4300 sq. meter area to host residential units similar to villas, each on an area of 120 sq. meters.

On January 27, 2001 HRH Crown Prince Abdullah Bin Abdulaziz visited Kingdom City as a part of the special grand opening of three Kingdom Holding projects, including Kingdom Schools and Kingdom Hospital.

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