Deyaar Development has formed a joint venture with two Saudi-based companies, Arabian Arkan for Commercial Investment, and Ibrahim Abdullah Abunayyan & Brothers.
The venture, known as Saudi Deyaar, will pursue real estate opportunities in Saudi Arabia.
Demand for housing in the kingdom is reportedly at an average of 163,750 units a year, with total new investments in housing set to increaseeto $328bn by 2020. The housing sector is expected to account for 75 per cent of all real estate activity in Saudi Arabia.
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