Manazel Real Estate has announced its intention to enter the Saudi Arabian market before the end of this year by launching several projects, In a statement, the company attributed its expansion plans in the Kingdom to the fact that Saudi Arabia is one of the largest economies in the Gulf Cooperation Council (GCC) and is seeking to attract significant investments and undergo major transformations as part of its efforts to implement Vision 2030.

The company noted that one of the key incentives for investment is the increased activity in the real estate sector driven by the Public Investment Fund (PIF), which was established in 1971 to invest in commercial projects and has been increasingly active in targeted investments in numerous companies both within and outside the Kingdom.

Mohammed Muhanna Al-Qubaisi, Chairman of the Board of Directors of Manazel Real Estate, said that the company is currently studying all available opportunities to enter new markets, noting that the Saudi market is a focus of interest for the company, adding that the company seeks to capitalize on promising new investment opportunities outside the local UAE market—particularly in the Kingdom, North Africa, and the Middle East—to strengthen its real estate portfolio.