Al Shoula Holding Group awards contract to Braengel

11 January 2012: Saudi-based conglomerate, Al Shoula Holding Group has awarded Brazilian construction firm Braengel the contract to design a $500m complex including a hospital and a five-star hotel in Riyadh. The project will cover an area of 76,000 sq mtrs in the Saudi capital city, and will also include a luxury spa, gym, shopping centre and several restaurants. Of the $500m investment, 60 per cent will come from Saudi and Qatari businessmen, and 40 per cent from Brazilian companies.

Source: Ameinfo