Minister of Commerce and Industry Dr. Hashim bin Abdullah Yamani has approved formation of an SR. 300 million "Emar Al-Watan" (Construction of the Nation) company for real estate investment. The newly established company will have 6 million shares, each valued at SR. 50. As many as 100 million shares will be floated for public subscription and 200 reserved for the company's founders. The Riyadh-based company will engage in setting up and developing housing, commercial and industrial projects.