Real estate major Raheja Developers is in advanced stages of negotiations with a Saudi Arab-based developer to form a joint-venture for mainly constructing housing properties in the two nations.
According to sources, Raheja Developers is talking to 'Abdulhadi A Al Qahtani Sons Group' and a delegation is likely to visit the Arab nation within this month to give a final touch to the joint venture agreement.
"The agreement is likely to be signed during the visit. If for some reason it is not signed this time, then it will be formalised during the visit of an Assocham delegation to Saudi Arab in April," a source close to the development said.
"We are exploring possibilities in Saudi Arab and talking to some players there," said Navin Raheja, chairman, Raheja Developers.