Local developers and Baseel Property Company have announced plans to build a SR1.2bn ($320m) shopping complex in Al-Nakheel, north of Riyadh.

The project will cover 137,000 square metres and will have a 650-metre façade. Construction is due to begin in 2016.

The open air shopping complex will include a boutique hotel, offices, recreational and cultural areas, and a walking area.

The two firms have formed Raj Real Estate to develop the project.

MEED reported in June that AlRajhi had purchased a $160m plot of land for the scheme.

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