Riyadh-Amlak
The management company has signed a contract with Manafel Real Estate Development Company, under which it will market the Al-Malqa Commercial Center in Riyadh, in addition to managing all facilities, including maintenance, cleaning, security, and landscaping; It is located in the Al-Malqa neighborhood west of King Fahd Road and is considered one of the largest and most important shopping centers due to its large size and attractive design.
Saud Al-Dahmashi, CEO of Idara, said: “We are pleased to sign this agreement, which crowns our efforts in managing and operating commercial centers and facilities. We thank God that these efforts have been rewarded with the signing of numerous contracts and agreements, even though Idara entered the real estate market only recently andhas, since its establishment, secured several commercial and residential projects in the fields of property management, marketing, and leasing, and has successfully marketed 70% of its projects in record time.
Al-Dahmashi added that the Al-Malqa Commercial Center is considered one of the city’s most distinctive landmarks due to its modern and attractive design and its strategic location in a vital and important area of Riyadh, as well as its proximity to numerous government and private entities, making it a suitable headquarters forgovernment sectors, banks, and local and international companies.
Furthermore, the building’s design is visually appealing and equipped with the latest technology, including surveillance cameras and a comprehensive security and safety system (alarm, fire suppression, and emergency exit systems).
The center’s total area is 11,998.17 m², divided into offices, showrooms, and service areas. It includes a shaded parking lot with capacity for 300 vehicles, elevators, a safety system, an emergency exit, and surveillance cameras.
Al-Dahmashi highlighted the market’s need for companies that manage commercial centers professionally—from marketing and identifying the appropriate marketing mix to analyzing supply and demand—with the aim of operating the building at maximum capacity, optimizing space utilization to increase revenue, controlling, reducing depreciation rates, managing building facilities, addressing tenant concerns, and collecting rent.