New schools + multi-use urban projects coming to Saudi: Dallah Albaraka subsidiary Dallah Real Estate and Egyptian real estate developer Palm Hills Developments (PHD) made official their plans to develop integrated, multi-use urban projects and 15 international schools in the kingdom under a newly-inked partnership agreement between the two firms, PHD said in a press release (pdf).

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The details: The two sides will work together to set up 15 new schools in the Kingdom over the next decade and over a 30-year partnership build integrated urban communities. The two sides will set up a joint venture to carry out the projects.

Who owns what: PHD will hold a 60% stake in the new joint venture and Dallah Real Estate will own the remaining 40%, the statement read. The partnership is set to see combined investments of some USD 300 mn, PHD Chairman Yasseen Mansour said in September.

Remember: Palm Hills set up its Saudi branch back in August, joining Talaat Moustafa Group and other Egyptian real estate players that have recently entered the Saudi market.

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