Riyadh property prices rise 2% in Q1 even as rents fall

Riyadh property prices rise 2% in Q1 even as rents fall
Riyadh property prices rise 2% in Q1 even as rents fall

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Jeddah - Yasmine El Tohamy - RIYADH: Indian contractor Larsen & Toubro has been appointed by Oilfields Supply Company Saudi to design and build what it describes as one of the world’s largest oil and gas supply bases, in King Salman Energy Park in Dammam.

The project, valued at between INR1,000 crore ($133.3 million) and INR2,500 crore, involves the construction of industrial facilities, an administration building, ancillary buildings, associated infrastructure and storage yards, and is scheduled for completion in 30 months, L&T said in an emailed statement.

“This project will act as a business incubator to support the oil and gas industry in the Kingdom and help accelerate industrial growth in the energy sector,” said M. V. Satish, senior executive vice president (Buildings), L&T.

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