Interview: Waddah Al-Said

Ranim Al-Badi"

Abdul-Ilah Al-Quraishi, General Manager of Rafah Real Estate, expressed his complete optimism about the future of the real estate market, which has recently been shrouded in some uncertainty due to local and regional economic changes. Al-Quraishi emphasized, in an interview with »Amlak Real Estate Newspaper," that all decisions issued by various government agencies are in the interest of the real estate and construction sectors, and that the ultimate beneficiary is the citizen as the end consumer.

Abdul-Ilah Al-Quraishi revealed many aspects of his company’s activities and his future outlook for the market. The following is a transcript of the interview:

You seem optimistic about the improving outlook for the real estate sector. Could you explain the reason for this optimism?

Praise be to God, we take a comprehensive and forward-looking view of the real estate market and carefully assess the economic implications and the impact of the regulations recently adopted to govern the real estate sector. This has begun to be reflected positively in the understanding of those involved, I am fully confident that our wise government always issues decisions that will improve the balance between supply and demand in the real estate sector and protect the interests of all parties with fairness and transparency.

What are the most important projects your company, »Rafah Real Estate," has completed?

By the grace of God, our company has completed numerous real estate investment and development projects in both the residential and commercial sectors. Among the most important of these projects are:

A compound in the Qurtuba Real Estate neighborhood (Rafah Housing 1).

Two complexes in the Qurtuba Real Estate neighborhood, the "Sons of Al-Sayyid" project (Rafah Housing 2).

A residential complex of owner-occupied apartments in Ashbilia, consisting of 155 apartments ranging in size from 200 to 225 square meters, all of which, by the grace of God, have been sold out.

Furnished apartments in the Al-Shuhada neighborhood (two buildings); each building consists of 37 suites, each with a bedroom and a living room (hotel-style).

A 4-star hotel on the Northern Ring Road, consisting of 4 floors and 145 luxurious suites.

What projects is the company currently working on?

The company is currently working on a number of residential projects through which we contribute to the real estate market by providing residential units with special and varied specifications that meet the needs of Saudi families. We currently have a residential complex consisting of several villas in the Qurtuba area; these are standalone villas offering every luxury and ancillary service, along with apartments for investment, Each villa consists of two apartments at affordable prices and is distinguished by its prime location near all services, universities, and the airport; they are available for sale and investment.

Any final remarks?

Al-Quraishi extended his deepest thanks, appreciation, and gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and to his trusted Crown Prince His Royal Highness Prince Mohammed bin Salman, may God protect them both, noting the caring, paternal vision with which the leadership embraces the Kingdom’s citizens—a vision reflected in their enthusiastic response to all the development projects and regulations proposed by the leadership, emphasizing that our wise leadership views the Saudi people with the compassion of a father toward his children, and has always strived to ensure security, safety, and a dignified life for the citizens of this noble nation. We ask God to grant them success and guidance in all that serves our beloved Kingdom.

Remarks by Abdul-Ilah Al-Quraishi:

We are following the development plan and the Kingdom’s Vision 2030, as outlined by His Royal Highness Crown Prince Mohammed bin Salman, may God guide him.

Yes… there is some volatility in the construction and real estate market, but the sector remains vibrant and active.

We are expanding several projects in the north and northeast of Riyadh.