by Dylan Bowman

Dubai developer Emaar Properties has signed a 27 billion-riyal ($7.19 billion) joint venture with Saudi Arabia's Al-Shoala Group to develop 3,100-hectare mixed-used project near Riyadh, the company said on Saturday.

Emaar said the project, called Rawabi Rumah, will include luxury homes, commercial space, retail outlets, healthcare centres, educational institutions and community centres.

It said the project will also feature a date palm park and green belt of over 160 hectares - larger than Hyde Park in London.

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Posted by boyang at October 4, 2008 8:06 PM