To strengthen its position in the real estate sector, a construction company established a company named “Saudi Real Estate Development Company,” a closed joint-stock company with a capital of 100 million riyals, in partnership with the Turkish partner “Kaya Homes.” The real estate company holds a (60%) stake in the capital, while the Turkish partner holds (40%). The company was established as the real estate company’s operational arm to ensure quality, speedy completion, and low costs, in line with the Saudi Real Estate Company’s ambitious vision to expand into a number of projects and regain its rightful position and scale in the region’s real estate industry.
The mission of the Saudi Real Estate Development Company is to enhance the efficiency of the construction industry by adopting modern construction methods that prioritize efficiency and flexibility, adhering to high local and international standards, and prioritizing safety in its operations. The company’s objectives include the construction of buildings and residential, office, commercial, industrial, tourism, and recreational complexes, as well as supporting civil, electrical, and electromechanical works, among others.
