Posted by
InchDeep on Thursday, May 22, 2008 2:34:13 PM
I only posted this because I had a title I liked for it. I don't give a rats back side about the Saudis building a mall in Palestine. Lipstick on a pig as far as I can see. I will say though, given the money the Saudis are making off me filling up my gas tank, maybe they could just buy the whole "country" and clean the rats out of that sewer. Here you go from www.asharqalawsat.com.
Saudi-Led Group to Build Palestinian Mall Complex
22/05/2008
BETHLEHEM, West Bank, (Reuters) - The Palestine Investment Fund and a Saudi-led group signed a $200 million deal on Wednesday to develop a Palestinian commercial real-estate project in the occupied West Bank.
The project, slated for launch this year, envisages a 50-dunam (12 acre) plot in the centre of the hub city of Ramallah with shopping, financial and leisure facilities.
The Land Holding Company, a subsidiary of Al-Rajhi group, and the PIF signed the deal in the West Bank city of Bethlehem during a conference aimed at encouraging foreign investment in the administration of Palestinian President Mahmoud Abbas.
The signatories said they would set up a dedicated company, Arduna, to expedite the project.
Established in 2003, the Land Holding Company is a leading real-estate company in the Middle East. It has been involved in projects in Saudi Arabia, Qatar, United Arab Emirates, Bahrain and Jordan.