Saudi’s Tanmiyat to Spend $218 Million Finishing Dubai Projects - Bloomberg Business:
"Tanmiyat, a Saudi property developer and investor, plans to spend 800 million dirhams ($218 million) this year completing Dubai projects that stalled after the city’s 2008 real estate collapse.
The developer, which began work in the Persian Gulf emirate in 2006, will spend 600 million dirhams finishing a 15 million square-foot project in the Dubailand area that includes 500 villas, 12 residential buildings as well as a mall, schools and a 9-hole golf course, Tanmiyat Chief Executive Officer Muhammad Bin Odah said in an interview on Monday.
“Even with all the hardship the market went through, we still believe in Dubai,” Bin Odah said. “Nowhere else in the Middle East can compete with this city and its ability to draw buyers from different nationalities who feel comfortable enough to make it home.”"
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