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    
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RED House Arabia
Since its establishment, RED House was particularly tied to Saudi Arabia since its co-founders were prominent Saudi investors and developers. RED House maintained tight bonds with Saudi investors who co-invested with different RED House projects in Lebanon, Algeria and Cyprus.
With the favorable Saudi market conditions, its notable performance within the fifth year of its establishment, RED House is keen to carry on with a considerable operation in the Saudi Market. Hence, RED House set up a strategic venture with the Prominent Cypriot Groups “Paraskevaides Group” and “J&P – Joannou and Paraskevaides Contracting” under “Paraskevaides – RED House Development” in order to lead a grade 1 Real Estates Development Operation in Saudi Arabia with an exclusive project in hands: “Europa – Saudi Arabia”.  
 
Europa - Saudi Arabia
Growing Seeds of Europe in Saudi Arabia
In a pursuit of RED House success story of visionary development and within a strategic venture with “Paraskevaides Group”, the prominent Cypriot Developer and Contractor (as J&P), “Paraskevaides-RED House Development” embarks with an exclusive and distinctive development in Saudi Arabia with project “EUROPA”.
Fruit of the vision of RED House, “EUROPA” is a contemporary development seeding 18th century Europe in Saudi Arabia. Stretching on a land of over 1,000,000 m2 in the Eastern Province of Saudi Capital Riyadh, Europa embraces over 700,000m2 mixed use development that translates the charm of Europe and awards a modern interrelated and vibrant society of residential, hospitality and commercial environment. 
Paraskevaides-RED House Development envisages "Europa" as a prominent development with the most sophisticated and well ahead urbanization methodology as well as construction techniques in order to coop with the 21st century inner-city environment that intersects with Saudi Arabia social outlook.  
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