Riyadh-Amlak
Arbah Capital, Masader Real Estate, and Saray Development & Investment Co., Ltd. signed a memorandum of understanding to launch a number of real estate funds for residential and commercial projects during the Riyadh Real Estate Exhibition (Restatex 2013), which recently concluded in Riyadh.
On this occasion,Mr. Saad bin Ayed Al-Hassousa, CEO of Arbah Capital, emphasized following the signing of the memorandum that financing is a vital and key component of the real estate industry in the Kingdom, particularly in the real estate sector. He noted that the objective of launching these real estate funds will be have significant investment, social, and national implications, serving citizens by providing housing projects and helping to develop solutions to the challenges facing the Kingdom’s real estate market.
On the other hand, Engineer Muhammad Alaa Jadhba, General Manager of Saray Real Estate Development Company, said that the availability of integrated elements—including financing, real estate expertise, and development capabilities—helps foster the growth of the real estate sector by enabling the development of distinctive, high-quality residential projects.
Mr. Abdullah Al-Awfi, Chairman of the Board of Directors at Masader Real Estate, also stated that the goal of signing the memoranda of understanding to launch real estate funds stems from a firm belief in the importance of the multiplicity and diversity of strategic partnerships between the financial investment sector and the real estate sector, given theopportunities and diversity, based on the positive market fundamentals in the Kingdom in general, and in the Eastern Province in particular.