Jeddah- 24/Feb/2010
A financing agreement totaling US$ (15) million was signed today, at the Islamic Development Bank (IDB) headquarters in Jeddah, between IDB and The Sudanese Chamber of Endowments, for the development of a plot of land located in Jeddah, Saudi Arabia.
The agreement was signed by the General Secretary for the Sudanese Chamber of Endowments H.E. Dr. Al Taieb Mukhtar Altaieb, and Dr. Ahmad Mohamed Ali, IDB Group President in the presence of H.E. Dr. Azhari Al Tigani the Sudanese Minister of Guidance and Awqaf.
The project aims at establishing a shopping and residential centre on two plots of land, near King Khalid Road in Jeddah, Kingdom of Saudi Arabia, with a total area of around (7000) sq. m.
During the signing ceremony the Sudanese delegation updated the IDB President on the status and latest developments of the Sudanese Endowments, and their plans to develop the endowments properties.