Dar Al Arkan Real Estate Development Co, leading Saudi Arabia-based major developer has decided to invest 7.5 billion riyals (Dh7.4 billion) over a period of five fiscals on a new residential project in Jeddah.

The sources informed that the construction of the new integrated project, which will have more than 10,000 units as well as leisure and shopping facilities, in addition to schools, will commence in fiscal 2010.