(Alex Finkelstein is co-editor of Debt and EquityJournal.)
JEDDAH-In one of the most ambitious mixed-use ventures in recentyears here, Cayan Investment and Development Co. and Arbah plan toinvest more than one billion Saudi riyals (about US $375 million)in a landmark development. The project would cover 32,000 squaremeters (about 288,000 sf) of prime real estate along Jeddah'snorthern coastal road overlooking the Red Sea.
The project would comprise high-end apartments, class A officespace, a commercial and retail center, fine dining, entertainment,leisure facilities and one of the tallest skyscrapers in SaudiArabia. A ground-breaking date hasn't been set. The deal was signedby Cayan chairman Ahmad AlHatti and Arbah chairman Bader Al Zahraniat Riyadh's leading real estate exhibition.
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