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huit
October 9th, 2005, 08:58 PM
Al-Rajhi Council Sets Up New Project
Arab News

RIYADH, 9 October 2005 — Abdul Aziz Al-Rajhi business administration council announced the establishment of the largest real estate project in Riyadh at Al-Ghadeer. The project includes a business city, a high rise with 30 floors, a mall and more than 50 commercial and residential towers. The council is also preparing to establish a closed real estate investment company with a capital of SR1 billion. The company’s main role would be to develop Al-Ghadeer, establish the project and operate it, reported Al-Eqtisadiah newspaper.

Source: http://www.arabnews.com/?page=6&section=0&article=71426&d=9&m=10&y=2005&pix=business.jpg&category=Business

huit
October 9th, 2005, 09:01 PM
Where exactly is Al-Ghadeer in Riyadh?

Bahraini Spirit
October 9th, 2005, 09:08 PM
Good, but can someone tell me why the 30 storey limit? The airport is far away, I can't see another reason why to impose such a limit.

huit
October 9th, 2005, 11:21 PM
The limit of 30 floors has been imposed by the Air force and its a pretty lame one imo - considering the fact that skyscrapers taller than 30 floors are allowed but with only 30 floors. Kingdom Tower and Faisaliah Tower both are at height of around 70+ floors BUT they only have 30 floors - rest are empty.

vc15nets
October 10th, 2005, 12:04 AM
Great news! But I would've liked this to be in olaya near Fasiliyah tower and Kingdom center. But its better than nothing.

Where exactly is this Al-ghadeer area? I've lived in Riyadh for a long time but I left a couple of years age so this must be a new area because I've never heard of it.

Bahraini Spirit
October 10th, 2005, 12:25 AM
Air force, ya I agree, very lame, Riyadh needs proper skyscrapers.