RED SEA HOUSING MAY INVEST SAR 2 BILLION IN 2012-2020

During its meeting on Monday 11/09/1433 corresponding to 30/07/2012, the Board of Directors of Red Sea Housing Services Company has approved the growth strategy to develop the Companys activities for the period 2012 - 2020 and increase its global market share. The Company is expected to invest a total of SR 2 billion to implement the strategy. 
The strategy focuses on three main pillars: 
(1) Expanding the current business of the Company, which involves providing housing solutions in remote areas, and enter in to new geographies such as, Australasia, South America and North America. 

(2) Enter the affordable housing sector to serve the Kingdom and other cities around the world. 
(3) Invest in the building and construction materials. 
The implementation of the strategy shall result in suitable expansion in the managerial and organizational structure of the Company through the appointment of the necessary specialized personnel, and the formation of subsidiaries to complement the expansion. 
The growth strategy will be financed through the Companys operating cash flows and through banking facilities.