Saudi's Naif Al-Rajhi unveils $160.1m Burj Ramlaby Neha Bhatia on Mar 10, 2016
Saudi Arabian developer, Naif Al-Rajhi Investment (NRI), has announced the launch of a $160.1m (SAR600m) project.
The Burj Ramla tower will be developed by Ramla Real Estate Development, owned by NRI.
The 150m tower will be situated on King Fahad Road.
Project completion is expected during the third quarter of 2018, according to The Saudi Gazette.
Remarking on the development, Jacques Al Boustani, CEO of Ramla, said: "The announcement of Burj Ramla during this time comes to confirm our confidence in the Saudi economy, the strongest markets in the region and the most stable in general, through our deep understanding of tomorrow's needs of the modern Saudi lifestyle."