Awan Investment Real Estate Company announced the establishment of the “The Palm” real estate fund in cooperation with Assool & Bakhit Investment Company in Madinah, with the size of the first phase exceeding SAR 150 million, with the aim of developing the infrastructure of the fund's project land, which exceeds 130 thousand square meters.

Board member Dr. Abdullah Al Mishaal explained that the size of the investments for the superstructure and mixed-use units in the project exceeds 700 million riyals to provide high-quality products aimed at enhancing the supply of commercial, residential and office real estate units, in line with the Kingdom's vision 2030, and enhancing the status of Medina in housing programs, serving the pilgrims and quality of life by developing residential units and parks.

Member of the Board of Directors Dr. Abdullah Al Mishaal said that the size of the first phase of the project exceeds 150 million riyals. <He added that the project is the first of the first projects in Medina that will achieve the elements of quality of life and the development of the Medina region. For his part, board member Saeed Ba Samh said that this qualitative investment, along with other investments in Makkah and the Upper Diriyah project in Riyadh, is characterized by increasing green spaces and preserving vital environmental diversity and functions, which contributes to improving air quality in the residential and commercial complexes that the company is working to develop.

For his part, board member Saeed Ba Samh said