Dubai Investments announces joint venture with RED House SAL to manage the Development of Mega projects in KSA RED House Group explores Business Opportunities in Russia RED House announces the Launch of Riyadh Outlet Village The first outlet & entertainment village in Saudi Arabia    
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Press Release – Al Riyadh- February 18, 2018 RED House (Real Estate Development House), the leading real estate developer of the MENA region behind innovative mega projects in Algeria, Cyprus, Lebanon, Dubai and Saudi Arabia, announced today the launching of the first and largest outlet complex in Saudi Arabia “Riyadh Outlet Village”.   In this context, Mr. Mazen Al-Beaini, RED House Chairman, stated that RED House is continuing to provide innovative and exclusive projects in Saudi Arabia for its firm belief in the extensive potentials and prospects of the Saudi market especially after the vital upturn in all sectors due to major economical reforms achieved in recent years under the rule of Custodian of the Two Holy Mosques King Salman bin Abdul Aziz and Crown Prince Mohammed bin Salman.     Mr. Al-Beaini declared that "Riyadh Outlet Village” covering an area of approximately one hundred sixty thousand square meters and located on King Fahd Road North of Riyadh, is perceived as a themed multi-purpose shopping, recreational and cultural destination designated for all family members where they can enjoy recreational, entertainment, dining and cultural activities in addition to a high-standard shopping experience with prime brands of apparel, home appliances, furniture, sporting goods and many others. "Riyadh Outlet Village” will also comprise a cultural traditional Saudi souk and Market place as a modern reinterpretation of a traditional Arabian town where Saudi designers and skilled artisans would display their products and the perfect spot to discover more about traditional Arabic culture.  Mr. Al-Beaini also disclosed that it has been agreed with one of the largest Saudi financial companies authorized by the Capital Market Authority to establish a closed investment fund worth 250 million riyals to finance the project and will be announced soon. About RED House RED House Group, member of Al-Beaini Holding, is a privately owned Saudi-Lebanese Real Estate Investment and Development firm that was established in 2005 and specialized in Master Planned Communities Investment and Development.  Throughout the years, RED House accumulated an extensive experience in strategic planning, finance engineering, project management and founded a network of global alliances and partnerships that enhanced its regional standing. RED House continues to grow its portfolio holdings and regional operation in Algeria, Cyprus and Lebanon with an advanced positioning in the Saudi Market. In 2015 partnered with Dubai Investments PJSC to manage and develop mega real estate projects in the Kingdom of Saudi Arabia and initiated its operation with project "Riyadh Investment Park” an 11 million square meters mix-use industrial, commercial and logistic complex strategically located in east of Riyadh.   
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