Limitless plans $12 billion complex in Saudi

A real estate developer owned by the Gulf emirate of Dubai said on Wednesday it planned to build a $12-billion complex, including 55,000 homes, in Saudi Arabia.

The firm, Limitless, said in a statement that the "Al Wasl" project would include 55 mosques, several five-star hotels and an environmentally-friendly transit system.

Limitless did not indicate when the work would start nor the exact location in the kingdom, but said demand for housing in Saudi Arabia was high, with 50,000 new units needed each year. (AFP)