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Saudi real estate firm Dar Al Arkan launches phase two of $2.7 billion project

Reuters  |  RIYADH 

By Marwa RashadRIYADH (Reuters) - Major Saudi Arabian real estate developer Dar Al Arkan launched on Monday the second phase of a 10 billion riyal ($2.7 billion) project in Riyadh that features villas with interior designs by Italian fashion house Roberto Cavalli.The Shams Al Riyadh project, one of the firm's major mixed-use developments in the capital, points to a revival in the kingdom's real estate sector which was hit hard in recent years as low oil prices squeezed state spending on new projects and pushed the government to delay payments to contractors.The project, extending over five ...

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First Published: Mon, May 14 2018. 20:12 IST