Business | Property

Limitless unveils plans for $12b Saudi project

Limitless, a real estate development arm of Dubai World, said on Wednesday its 45 billion riyal ($12 billion) Al Wasl project in Saudi Arabia will have 50 mosques and eight shopping complexes.

  • Staff Report
  • Published: 00:38 March 20, 2008
  • Gulf News

  • Al Wasl is the first of several projects in the pipeline for Limitless in Saudi Arabia.
  • Image Credit: Supplied Picture

Dubai: Limitless, a real estate development arm of Dubai World, said on Wednesday its 45 billion riyal ($12 billion) Al Wasl project in Saudi Arabia will have 50 mosques and eight shopping complexes.

The 1,411-hectare project, which was announced last October, will create 55,000 homes for 200,000 people.

There will be offices, several hotels, one university, health and educational facilities, and 300 hectares of green, open space.

"In delivering Al Wasl, Limitless will apply its key strengths of creating distinctive, large-scale, balanced projects.

"Al Wasl will bring together a tailor-made development that preserves traditional Saudi culture and a sustainable, modern community that will create some 50,000 jobs," Saeed Ahmad Saeed, chief executive officer of Limitless, said in a statement.

Al Wasl is the first of several projects in the pipeline for Limitless in Saudi Arabia, where 50,000 new homes are needed each year.

The project, one of the largest in the company's portfolio, is being developed near Riyadh.

Work on the development is expected to begin in the middle of this year, with the construction schedule spread over seven years.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Property

Gulf News
Gulf News classifieds
  5. Browse all jobs
  5. Browse all cars
  6. Browse all properties
  5. Browse all classifieds
Popular in Business
Business Editor's choice
Abu Dhabi's infrastructure spending
UAE

Abu Dhabi's infrastructure spending

New road networks to reignite construction sector.

Popular in GNTV
Popular in Pictures