His Excellency the rector of King Saud University; chairman of Riyadh Valley Company the investment arm of King Saud University has signed today two agreements with Arabian Centers represented by the CEO and member of the board Mr. Salman Al Hukair. The agreements are for the investment of commercial and housing lands. The ceremony was attended by the vice chairman of the board of directors of Riyadh Valley Company Dr. Abdullah Al Salman, and was also attended by the CEO of RVC Dr. Khalid Al Saleh. Mr. Mohammad Al Obaikan also attended the signing from Arabian Centers side.
His excellency the chairman of the company has expressed his happiness for this new partnership with Arabian Centers , wishing success for both Riyadh Valley Company and its new partner.
Dr. Khaled Al Saleh, the CEO of RVC said that this partnership with provide a stable stream of income for the company that will help it achieve the goals for which the company was established; the biggest goal being VC investments in technology. He also added that the duration of the agreement is 30 years using a BOT model, and that these two projects are considered one of the very most important ones campus-wide, as Arabian Centers will build and operate a shopping center on the piece of land adjacent to prince Turki Al Awal Road on an area more than 121000 Sqm. In addition, Arabian Centers will also build and operate a housing compound on a land adjacent to to prince Abdulaziz bin Thunayan on an area of more than 141000 sqm.