Saudi real estate company wants to build homes in Morocco
The Saudi Dar Al Arkan real estate company is going to invest in a housing project in Morocco, Youssef Al-Shelash, the Director of the company, to Reuters. Where exactly in Morocco is still unknown.
The company, with a cash flow of 3 billion riyals (800 million dollars), also plans to invest in Europe and Dubai.
In Europe, the company plans next year to a hotel or a residential or commercial tower to buy in London, Frankfurt or Berlin, according to Reuters.
In Dubai Al-Shelash announces the launch of a skyscraper with 34 floors with luxury apartments for beginning 2018. The amount of this investment is 800 million riyals (218 million dollars).