Nayef Al Rajhi Investment Group, a leading real estate investment and development group, has announced a strategic partnership with Miskan, a subsidiary of Al Fanar and a leading real estate developer in Saudi Arabia, to establish ARAL to implement a new concept for integrated mega projects. <The partnership contract was signed by Naif bin Saleh Al Rajhi, Founder and CEO of Naif Al Rajhi Investment Group, and Talal bin Hisham Al Mutlaq, CEO of Miskan, at the Fairmont Ramla Hotel Apartments Tower, one of Naif Al Rajhi's investment projects, in Riyadh. <Nayef Saleh Al Rajhi, Chairman and CEO of Nayef Al Rajhi Investment Group, commented on the signing of the partnership saying: "This partnership coincides with the realization of the Kingdom's Vision 2030, to build an ambitious nation with a prosperous economy, and from here came the integration of expertise between our company with experience in developing integrated real estate projects for modern housing and Miskan Real Estate Company, one of Al Fanar's long-established companies in the construction industry. We aim to develop a new real estate concept to create residential cities that achieve the growth of a vibrant community, which is one of the most important tributaries of sustainable development for the national economy, and we aim to develop quality real estate projects.“
The CEO of Nayef Al Rajhi Investment Group, Nayef Saleh Al Rajhi, commented on the signing of the partnership. <For his part, Miskan's CEO, Talal Hisham Al Mutlaq, emphasized that this partnership will result in the implementation of huge projects that meet the needs of the growing market, and the establishment of a new company represents an important turning point towards achieving our common goals of innovation and expansion in the real estate development sector: “We are confident that this partnership will contribute to the realization of quality projects in line with the Kingdom's aspirations under Vision 2030.”
We are confident that this partnership will contribute to the realization of quality projects that meet the needs of the growing market. Aral intends to develop major quality projects such as comprehensive development projects of infrastructure and superstructure for residential cities on large areas, promote urban development and accelerate urban transformation in the Kingdom through the development of self-sufficient integrated residential communities, recreational tourist resorts, commercial and mixed-use projects, and logistics cities in line with the objectives of Saudi Arabia's vision.
The company intends to develop major quality projects such as comprehensive development projects of infrastructure and superstructure for large-scale residential cities.
About Nayef Al Rajhi Investment
<Nayef Al Rajhi is a leading Saudi investment group with a global presence in several countries, investing in real estate, real estate development, capital markets and mergers and acquisitions. Known for its diversified portfolio, it has established and entered into thriving partnerships in 13 sectors including real estate, hospitality, food and beverage, mining, contracting, interior design and implementation, financial markets, outdoor advertising, logistics, and more. Among the projects executed by the group are Fairmont Ramla Hotel Apartments, Ramla Terrazza, and won the contract to develop King Salman Park Package 1, Zone 2.
