Executive President of Al-Shoa'lah Holding Company speaks about

Riyadh, October 19, SPA -- Prince Abdulaziz bin Mishaal bin
Abdulaziz, the Executive President of Al-Shoa'lah Holding Company
said that the expected effects of the global financial crisis on the
real estate sector in the Kingdom would be very limited, noting that
the company's implementation of the projects clearly demonstrates the
trust in the national economy and its ability to overcome this crisis
without effect.

In a statement to Saudi Press Agency (SPA) following the signing of
the agreement to establish a project of new Erqah here today in the
presence of Prince Mishaal bin Abdulaziz, Chairman of the
Allegiance-Pledge Commission, Prince Abdulaziz bin Mishaal bin
Abdulaziz said, "The Kingdom is a part of the world, and from real
estate point of view, the real estate market is based on demand and
supply. The capitals still exist and I think that the real estate
market will go to distinguished projects".

Asked about the contributions of the company to real estate
prosperity in the Kingdom, he said, "We announced Roawabi Remah
project that serves a large people of middle-income and we hope to be
able to create a new residential community near Riyadh where all
requirements and needs of population are available".

He added, "We will announce soon the project in the eastern region
which is also now under study and other projects in Riyadh. We have
two projects, one in Jeddah to build a residential tower and the
other one is a city of heights. We try to diversify our investments
in all regions of the Kingdom, and we have plans for projects in Taif
and Makkah".
About foreign investments of the company, the Prince said that the
company has projects in Jordan, Egypt and the Sultanate of Oman and
there is a project that will be implemented in the Kingdom of Bahrain
soon".

--SPA