Real estate developers in Saudi Arabia are looking forward for a pick up in investment activity after the clearance of Duraibi case, Arab News reported. On Wednesday, Saleh Al-Duraibi Group, the real estate developer of the huge Venice Island project in Jeddah, was cleared of charges made against it. The company was granted approval to continue its projects which were suspended during the case.
The project costs are estimated between SR10 billion and SR15 billion and it includes residential, commercial and entertainment facilities over a 20 million square meter area at a strategic location close to the city with roads and highways connecting it to it which are already under way.
