Huqail: Creativity in suburban development is our motto, boldness and ambition is our essence
Huqail: Creativity in suburban development is our motto, boldness and ambition
Raval Tower: <62 floors with unique designs, smart buildings and a strategic location close to King Abdullah Financial Center and the airport
Mortgage will encourage banks to finance and serve the real estate market
Interview - Faisal Al Khalil
Amlak Real Estate Newspaper republishes the interview it conducted in 2010 with the new Minister of Housing Mr. Majid Al-Hogail when he was the CEO of Rafal Company, in the folds of the dialogue, we know how the Executive General Manager of Rafal Company Mr. Majid Al-Hogail thinks to develop the real estate sector, and what are the most prominent convictions and his company in the fields of real estate development, how they see the new in the fields of construction and construction, what are their most prominent current and future projects, and what is their vision for the most important issues that are teeming with the real estate scene? And many questions we carried to him. Amlak had this conversation with Amlak:
The Kingdom suffers from a housing crisis. How do you see the scale of the issue and how do you see the solution?"
I think the crisis varies from city to city, but what is certain is that there is a shortage of supply versus demand, but we believe that the crisis is not at its peak now but will escalate over the next three years if there is no supply commensurate with demand, and the indicators that determine the crisis are the value of rents, but we are still in balance. - Housing is one of the basic things in human life, and it is a continuous and indispensable requirement even during crises, but the Kingdom was not affected by the crisis, but its impact appeared in the credit power, where banks restrained the credit capacity and this was a reason for the lack of purchasing power and there was a slowdown in the market movement. - The economic cycle in any project, the construction side of which is usually part of the bank financing in any project, and you rarely find any project that depends 100% on capital, but banks with the Algosaibi crisis and Maan Al-Sanea lost a little credibility for family companies, and many Saudi companies are family companies that made banks conservative and this reticence affected the launch of some projects. - Yes, I think they are back, but not as much as the Algosaibi crisis, and Ma'an Al-Sanea whose impact is more than the global crisis. -I don't think so, for the simple reason that real estate development companies do not have profit margins like land development companies. Land development has very high profit margins because there are not many hardships, unlike real estate development companies.
Will the issuance of the mortgage system contribute to solving the housing crisis?
We see banks in general lending to the financier, and our experience with them is a positive experience, you see banks gave great goals to their employees, but the issue now is in some restrictions imposed due to the lack of a system that protects lending and financing companies, and the second thing is still the ownership mechanism makes banks depend on the source of income, with the mortgage system will expand many segments and increase opportunities for lending. The mortgage system will expand many segments and increase opportunities for lending.
Raval is one of the well-known companies at the level of real estate companies, can you tell us about its future projects?
- Rafal was established in Riyadh at the end of 2007, by leading companies with more than fifty-six years of experience, including: Arab Water and Energy Development Company - ACWA Power, Ibrahim Abdullah Abunayyan & Brothers, and Tawazun Arabia Commercial Investment Company Limited, with a capital of SAR 400 million and investments exceeding SAR 3.75 billion, aiming to develop distinctive urban and real estate projects that offer customers and investors the real opportunity to live in a distinctive style. Riyadh.
What about the details of the Raval Tower project?
Raval Tower. Where creativity, inspiration and a distinctive sign, it will be built with a very ingenious style and designs, with a height of 62 luxurious floors and an area of 19,322 square meters in the Al Sahafa district north of Riyadh, on King Fahd Road near the King Abdullah Financial Center project, to achieve the distinguished position it deserves, and this location is one of the most attractive and important sites because it represents the natural and future growth of the business and residential center.
<The atmosphere, working environment, equipment and high-end, luxurious and high-class features will make every successful businessman feel proud of his work and raise his head high in the Raval Tower, because luxury time is worth it! The top of Raval Tower itself will be polished by the stars hovering around it through the iconic glass roof and the indescribable view as far as the eye can see over the city of Riyadh. We expect the Raval Tower to be one of the most prestigious and prestigious business centers in the world.
We expect Raval Tower to open in March 2012 with the luxurious Kempinski Hotel, offering more than 300 luxurious rooms, suites and hotel apartments, which will make it the perfect place for your guests wherever and whenever they come to welcome them in luxurious and distinctive style.The Kempinski Hotel Group, which was established more than 100 years ago, has shown The Kempinski Hotel Group has a long tradition of European hospitality and is considered the epitome of high quality standards. Kempinski Hotels has long been renowned for its spas and wellness centers around the world, and Riyadh will have two separate luxury spas for men and women.
<The Rafal Tower will be complemented by restaurants, cafes, conference halls and a large luxurious ballroom that will accommodate 2,000 people to come alive, and will adopt the principles of construction and architecture in all stages in the tower taking into account friendly environmental standards, in addition to continuous supervision and creativity in the effective use of materials and following regulations and laws, and we have contracted with the company Kemps Kutli to operate the hotel, and there will be offices for sale for those looking for a distinctive location and integrated services, and there are 270 luxury residential apartments in the tower. Balencia enjoys a distinctive and unique location, creativity and innovation itself, a high-end semi-closed residential suburb located in the beating heart of Riyadh in King Abdulaziz neighborhood behind the air base, characterized by easy access and proximity to civil and government institutions, and is built on an area of 85.946 square meters, and includes 144 distinctive villas with exquisite designs, special equipment and 24-hour security protection systems, surrounded by a wonderful 1200-meter-long walkway surrounded by gardens and trees, land leveling, excavation and construction work has begun, and the suburb features a wonderful architectural designs of alabaster, Murcia and Gian villas divided into several Andalusian, Spanish and classical design models with different spaces that suit all family needs, and bring with their splendor and beauty the whiffs of Andalusia.
Because in today's fast-paced lifestyle, people need sports and fresh air to rejuvenate themselves and get rid of daily work pressures, the design of the suburb took into account the presence of a main walkway that surrounds the suburb with a length of 1200 meters, characterized by shady trees on both sides, to offer residents of the suburb a sophisticated style of sports and picnic in a natural atmosphere full of greenery and beauty and with full freedom and privacy, and for the security, peace of mind and safety of the suburb's residents, the entrance to the suburb was designed in a distinctive way that suggests complete privacy of the semi-closed suburb.
In addition, security guards, mobile patrols, and CCTV cameras are present throughout the suburb on a 24-hour basis. Because we provide closeness and homogeneity to the residents of Valencia, the pleasure of a quiet and upscale neighborhood in this unique semi-closed suburb of Riyadh is an exceptional and incomparable advantage. The Real Estate Committee of the Riyadh Chamber evaluated real estate projects in Riyadh and gave Valencia the award for the best residential project, and the evaluation elements were based on the project idea, the presence of an integrated suburb, and the diversity of the population. Rafal Tower was considered one of the most distinguished projects.
Has the Saudi real estate market recovered from the global financial crisis?
What is the role of banks in such crises?
Are banks back to financing again?
The crisis of real estate financing by banks has really contributed to the lack of emergence of real estate companies?
Rafal believes that building and developing land into an integrated environment requires vision, creativity, determination and design ingenuity, for high-quality homes and a residential suburban lifestyle worth living in, and each suburb serves its own purpose and offers a unique and fascinating culture and challenges, but for us, it is more than work, it is passion, determination, building and high professionalism, it is "creativity in residential suburban development”, the essence of Rafal lies in boldness, transparency, exceptionalism, ambition and achievement.
We are now working on the implementation of two projects that we have already started: Rafal Tower, whose foundations have been dug, and we expect to complete it by the end of 2012, and the second project is a closed residential complex consisting of apartments and villas called Rabia project, located on Sulbukh Road at the beginning of the entrance to Diriyah, and a third project will be announced at the end of the last quarter of this year and will be in Riyadh.
We have taken care in Rafal Tower to be a title of modern architecture, a masterpiece and a prominent landmark in Riyadh, not only for its magnificent location, but also for the unparalleled view that enjoys the viewers day and night from any floor in the tower, and the element of visibility, natural lighting and optimal utilization of these elements is the most prominent feature of Rafal Tower It will also be built in a very smart way in every floor of the tower, from 360 degrees and is the only tower that will carry this feature, and the tower's environment has been carefully chosen to be the first vertical suburb of Riyadh worth living or working in, to be the most attractive address in Riyadh.
Rafal Tower will be the closest to King Khalid International Airport in Riyadh, with a time not exceeding twenty minutes, and its proximity to the current financial cluster in the Olaya neighborhood, which is what every businessman needs to accomplish his work and return to his apartment or office in Rafal Tower, another important advantage, and since Rafal Tower is a suburb, it means that residents and visitors will enjoy 365 days a year a unique lifestyle unlike any other in Riyadh, a natural balance between calm and maximum comfort.
The smart Manhattan-style residential apartments in Rafal Tower are a dream come true, a unique and magnificent view, a haven of tranquility and serenity, a harmony of modern designs and number of bedrooms, the tower will offer a very sophisticated lifestyle for families and businessmen alike, in addition to the wonderful use of space, natural lighting, large floor-to-ceiling windows, creating a beautiful combination of space and tranquility.
In addition, the materials used in construction and finishing will be of the highest specifications, so that the resident feels and appreciates the place with all five senses, and will enjoy life to the fullest, as the walls of Manhattan will not go away. Manhattan-style smart offices in the tower are the ultimate tribute to business success, as they have all the elements of luxury and a healthy and enjoyable work environment that may make a businessman hesitate to return home! In addition to the high features and specifications of modern technology for communication, these offices will definitely make these offices the most suitable address for investors.
Reval has achieved many awards, including the Valencia Project Award. What is special about this project and why did it win an award? What about the other awards?
Each villa is characterized by versatile facilities and modern standard equipment in terms of fire alarm systems, gas leakage systems, in addition to the presence of a satellite TV receiver, a telephone line with DSL, and the windows are designed with a double-glazed system to conserve energy and heat in summer and winter, and sound insulation, as well as sound insulation. In some selected villas there is a private swimming pool, which can be optionally added in the rest of the villas, and these villas offer their residents the pleasure of real living, modern construction, and the quality of international standards and are divided into six models with different areas and interior designs starting from 320 to 693 square meters as a built-up area.
Rafal also received an award in Dubai, which are projects that were put forward in terms of economic feasibility because the evaluator is the Arab Investment Committee and adopted evaluation criteria that take into account the availability of elements of luxury and integration, and at the same time not to be excessive exaggeration, so Rafal Tower was considered one of the most distinguished projects, for its excellence in terms of sophistication in its integrative idea in terms of architectural design and the team that worked on the project, and in terms of the economic feasibility of the project.
