Rikaz Properties, a Saudi-based real estate company, yesterday said it has acquired several plots of land in Dubai for over Dh350 million. The company is planning to build office and business towers with state-of-the-art amenities. "This step as an expression of our confidence in Dubai and its growth plans. Dubai today leads the development boom of the region resulting in attracting many international companies to establish their regional operations in here," Rikaz President Khalid Al Gahtani said in a statement. The firm, since its creation in 1997, has developed nearly 120 million square feet and invested over SR3.5 billion (Dh3.42bn) in developments.