Rikaz invests Dh350m in Dubai plots

Dubai: Rikaz Properties, a Saudi real estate company, concluded last week an acquisition of several lots of land in Dubai with a total investment of over Dh350 million, the company said in a statement.

Khalid Al Gahtani, Rikaz president and CEO said the move was a "an expression of our confidence in Dubai and its growth plans. Dubai today leads the development boom of the region resulting in attracting many international companies to establish their regional operations in Dubai".

"Commercial built up area will amount to 300 thousand square feet with many facilities and conference spaces, restaurants and related retail areas."