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Saudi developer invests $320m in Ireland project

Fawaz Alhokair Group, Saudi Arabia’s largest mall developer through its Arabian Centres subsidiary, is set to invest $320m on a project in Waterford, Ireland

Waterford, Ireland.
Waterford, Ireland.

Fawaz Alhokair Group, Saudi Arabia’s largest mall developer through its Arabian Centres subsidiary, is set to invest $320m to redevelop the Michael Street Shopping Centre in Waterford, Ireland.

The group will be investing in a mall, hospitality and housing development, following an agreement with Waterford city council in the country’s south-east, according to Arabian Business, citing Irish media.

The project will also include the building of a hotel and apartments on adjacent land in the North Quays of the city, combining retail, office, residential and hospitality components.

With negotiations officially starting in September, construction work on the project is set to begin at the end of the year.


 

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