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UAE’s Eagle Hills, PIF to launch $1.6bln real estate project in Saudi Arabia: Report

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  • The new resort project will be announced in a month, says Alabbar

UAE’s Eagle Hills, PIF to launch $1.6bln real estate project in Saudi Arabia: Report

Abu Dhabi-based Eagle Hills plans to launch a resort project in Saudi Arabia in partnership with Public Investment Fund (PIF) at an investment of 6 billion Saudi riyals ($1.56 billion), Arabic language daily Asharq Business reported.

The new project will be announced in a month, as procedures are being finalised, Eagle Hills Chairman Mohamed Alabbar said.

Alabbar, founder of Dubai-based Emaar Properties, is also interested in developing new shopping malls and hotels in Saudi Arabia.

The Dubai-listed developer is already working on hotel projects in Riyadh and Mecca.

(Writing by P Deol; Editing by Anoop Menon)


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