We adhere to excellence in our approach to real estate development and investment
\nWe are confidently going global
\nOur strategy is clear to reach a more credible website
\n in the real estate market
\nOur way is to implement real estate projects with high quality designs and luxurious features that elevate the architectural taste
\nRiyadh Commercial Tower wins Best Commercial Real Estate Project Award
\nAvenue Villas. Embodying luxury and architectural splendor and meeting the requirements of
\n Saudi families
\n We look forward to the mortgage system and complementary regulations to incentivize
\nSaudi Arabia's real estate sector
\n\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640<\/p>\n
Introduction:
\nMr. Fahad bin Abdullah Al-Ajlan, Chairman of the Board of Directors of Raik Real Estate Company, confirmed that the company is continuing on the path of excellence in the field of real estate development and investment and moving confidently towards the world, and its adherence to the approach it follows in adopting the standards of quality, excellence and real estate luxury, and said that the company's keenness on these architectural and urban values was behind its winning the best commercial project award for its project \u201dRiyadh Commercial Tower\u201d, which it will develop in the city of Riyadh, noting that the victory came within the competition of the awards of the Cityscape Saudi Arabia exhibition for development and real estate investment held in 2009 in Jeddah.
\nAl-Ajlan said in a lengthy interview with \u201cRiyadh\u201d that it is the \u201cAl-Nakheel Commercial Tower\" project, which is the latest giant real estate project implemented by the company and is located on the eastern side of King Fahd Road in the north (opposite Hyper Azizia Mall). He explained that the project, which reaches a height of 26 floors, will open God willing in June next year, and revealed the list of projects completed by the company and those that are being planned for construction, in addition to the list of projects completed by the company.
\nOn real estate issues, Al-Ajlan expressed his belief that the speedy issuance of the mortgage system and complementary real estate systems will stimulate the real estate sector in the Kingdom, and then all other sectors and activities will move, and said that it will make a great positive development in the field of real estate financing in the Kingdom, as well as solve the issue of housing for citizens, create a kind of balance in the market, and facilitate ownership of real estate by middle classes and low-income people more than it was in the past.
\n... To find out the answer, here are the details: <\/p>\n
\u201cThe Palm Tower. An architectural landmark
\n* Let's start our conversation by talking about your latest major project that has been completed and is being finalized for its opening, the Palm Tower project. What does it represent to you and when exactly will it open?
\n** The \u201cAl Nakheel Tower\u201d commercial-administrative project is the latest giant real estate project implemented by \u201cRaik Properties\u201d and is located on the eastern side of King Fahd Road in the north (opposite Hyper Azizia Mall), and as it is known that King Fahd Road is the main strategic artery that bisects the heart of the capital Riyadh from south to north and attracts on its banks the center of economic, commercial and urban movement in Riyadh, and the final touches and final finishes are currently being made to open the project, which is implemented by \u201cRaik Properties\u201d with \u201cTarouk\u201d company, the main contractor of the project, is currently being put in place.
\nThe project, which reaches a height of 26 floors, will be inaugurated next June, God willing, and will be delivered by Rayak Real Estate Company - the investor company - with the latest international architectural specifications, engineering designs and very impressive architectural features, using new and modern architectural techniques in construction for the first time in the Kingdom, such as the POST TENSION method, and we took into account providing the tower with the highest levels of luxury, comfort and safety for elite businessmen and major investors looking for major investments.<\/p>\n
* Your company won the Best Commercial Project Award for its project \u201cRiyadh Commercial Tower\u201d in Riyadh, as part of the Cityscape Saudi Arabia Real Estate Development and Investment Awards, which was held in Jeddah. What is the story and what does this award mean to you?
\n** Our company \u201cRaik Properties\u201d won the Best Commercial Project Award for its project Riyadh Commercial Tower, which it is developing in the city of Riyadh, and the win came within the competitions of the Cityscape Saudi Arabia real estate development and investment awards, which was held during the period from 14-16\/6\/2009 in Jeddah, and a large crowd of international investors, real estate developers, Arab and international government investment bodies, engineers and decision makers in the real estate investment and development sector, and the fact that the Cityscape Saudi awards are recognizable awards that aim to highlight the outstanding and striking achievements of the architectural designs of various projects. .
\n The award was awarded by a jury of regional and international experts specialized in the real estate sector, according to general criteria governing the work of the committee, including taking into account that the projects nominated for the awards must adopt an innovative approach, and the projects must comply with international standards in design, safety, insurance, energy efficiency and innovation, while adopting innovative design, architectural excellence in exterior and interior design as well as functional efficiency, and the projects must embody the quality of design and construction, and compatibility with neighboring land uses.
\nIn my estimation, this award carries more than one meaning and significance. On the one hand, it confirms the company's continued progress on the path of excellence in the field of real estate development and investment and the confident strides towards globalization, and on the other hand, it confirms the soundness of its approach in adopting the standards of quality, excellence and real estate luxury, which is embodied by the Riyadh Commercial Project and many of the company's projects that have already been completed and stand as a living witness to the development and advancement of the real estate and urbanization industry in Riyadh and the Kingdom of Saudi Arabia in general.
\nIt was not surprising that the Riyadh Trade Tower project won the Cityscape Saudi Arabia award, while the same project, among three projects of the company, which also includes the Sky Towers tower and the Palm Tower in Riyadh, won an international award, the Excellence Award for the best commercial real estate developer in the Kingdom for the year 2008, awarded by the International Real Estate Finance Summit (IREF). The Riyadh Commercial Tower is characterized by architectural and engineering designs of great splendor and luxury, rising to more than 50 floors, at an estimated investment cost of more than 400 million riyals, and we entrusted the international company \u201cAtkins\u201d to design the tower, where it has already developed very creative designs that add to its track record of great designs, investing its outstanding balance and expertise that is internationally acclaimed.<\/p>\n
* You mentioned that your company has already won another award in London, the Excellence Award for the best commercial real estate developer in the UK. Please elaborate?
\n** In 2008, Rayeq Real Estate won the Excellence Award for the best commercial real estate developer in the Kingdom for the said year, awarded by the International Real Estate Finance Summit (IREF). which was held in the British capital London, in recognition and appreciation of the company's status and prominent role as one of the giant companies working in the fields of real estate investment and development not only in the Middle East region, but also on a global scale, and in recognition of its excellence in the development of real estate and commercial projects in the Kingdom, and the projects that were the reason for the company to obtain the award were the projects of \u201dSky Towers\u201d tower, \u201dPalm Tower\u201d, and \u201dRiyadh Commercial Tower\u201c itself, the winner of the aforementioned award.
\nThere is no doubt that the company's winning this award is a matter of pride and pride for us, especially since it is a global award that places Rayak Properties in a distinguished global position in the sector of leading and well-known regional and international companies in the field of real estate development, and we view this victory with a greater sense of responsibility that requires us to continue on the path of excellence and major achievements that elevate the real estate industry, and that the company continues to move according to a documented scientific system to remain among the leading companies in real estate development in the region.<\/p>\n
Avenue Villas.
\n* We would like to know about your latest real estate project that you are preparing to build. What is this project and what are its main architectural features, and where will it be located?
\n** Sensing the responsibility of \u201cRaik Real Estate\u201d company in providing housing needs, especially for new families, and based on its insightful vision of the reality of the Saudi market and the growing demand for residential units, especially in the capital Riyadh, we plan to build our latest residential projects with architectural and engineering features of great splendor and beauty, which suit the tastes of the elite of those seeking luxury villas, with specifications that attract seekers of good taste and affordable cost, and with architectural designs that take into account the requirements and characteristics of the Saudi family. With specifications that attract those looking for good taste at an affordable cost, and with architectural designs that take into account the requirements and characteristics of the Saudi family, starting from the choice of location (east of Riyadh) and in an integrated services area that is witnessing an active urban renaissance, through architectural designs and ending with modern construction methods and using the best quality building materials.
\nRaik Properties has mobilized all its technical, technical and creative capabilities and energies to build the project in a way that satisfies its elite clients, to radiate luxury, speak of creativity and shine with architectural and engineering splendor and beauty, and with the highest levels of luxury, comfort and safety ... Raik has harnessed its balance of expertise, competencies and creative and creative energies, as an architectural masterpiece that adds splendor and beauty to the project site.
\nThe villas are located east of Riyadh, specifically at the intersection of Khurais Road, 80 meters wide with the new Eastern Ring Road, 100 meters wide (Sheikh Jaber Al-Sabah Road) and has all services (electricity, lighting, asphalt, drainage, sewage, telephone, water) in addition to its proximity to King Fahd National Guard Hospital, King Khalid Military College, and the Guard Officers Club.
\n* We would like you to introduce your company \u201cRayak Real Estate Company\u201d, what are the titles and principles that govern your real estate projects, and what about your future vision in the world of construction?
\n** Raik Real Estate adopts a clear strategy that aims to ascend to a more advanced, credible and creative position in the Saudi, Gulf and international real estate market, through the implementation of giant real estate projects with great designs that raise the architectural taste and optimize the use of the property to the maximum extent possible, using advanced architectural engineering methods and modern building systems, while ensuring that high standards of excellence and quality are observed to implement its projects, and our company, thank God, is one of the major leading companies in the field of real estate development in the Kingdom and the fastest growing in the region.
\nThrough a clear strategy, the company aspires to reach a more advanced, credible and creative position in the Saudi, Gulf and international real estate market through the implementation of giant real estate projects with high engineering designs that contribute to the advancement of architectural taste and improve the utilization of the property to the maximum extent possible, using advanced architectural methods and modern building systems while taking care to observe high standards of excellence and quality in the implementation of its projects. .<\/p>\n
* Your company has had many real estate achievements, projects that are under construction as well as in the future. It would be nice if you could provide a brief reference to them so that the reader can recognize the features of your architectural personality and the size of your achievements.
\n** Our record is full of many urban and commercial projects that we are proud of because they carry wonderful architectural features that contribute to adding more touches of urban and architectural beauty with all its characteristics and lines to the city of Riyadh, and provide businessmen and local and foreign investors with their requirements of luxurious and distinguished offices, and in a way that meets their requirements and supports them in accomplishing their pioneering work, in addition to a number of projects that are in the process of completion, and I ask the kind reader to present them in the following lines, and let me start with projects under completion, or pre-construction stages, in addition to a number of projects in progress: <\/p>\n
Avenue Villas.
\nIt is the latest project that Raik Properties is preparing to build in East Riyadh - as previously mentioned - with architectural and engineering features of great splendor and beauty, which suits the tastes of the elite luxury villa seekers, with specifications that attract those looking for good taste at an affordable cost, and with architectural designs that take into account the requirements and characteristics of the Saudi family.<\/p>\n
\u201cRiyadh Commercial Tower\u201d
\nThe tower is the latest project of Raik Properties, which will soon be constructed in the heart of the capital Riyadh, on the western side of King Fahd Road, and we expect it to be an architectural and urban achievement, God willing.<\/p>\n
\u201cPalm Tower\u201d
\nAl Nakheel Tower is the latest mega real estate project executed by Raik Properties, and the final touches and finishes are currently being put in place to open the 26-story project in June.<\/p>\n
Sky Tower\u201c
\n Sky Towers, one of the completed projects, is a proud architectural and engineering achievement located on the vital commercial artery - King Fahd Road in the heart of Riyadh - and embodies the philosophy of Raik Properties in the world of architecture and real estate, and advanced and modern architectural methods.<\/p>\n
Villa Park Complex\u201c
\nThe complex was built in the Cordoba neighborhood in Al-Khobar, and includes 16 villas, each consisting of two floors, a private garden and a garage, and (Raik Real Estate) was keen to build the project using the finest specifications and combined the spirit of the architectural originality of the Saudi community with the splendor of modernity, in an atmosphere of privacy and tranquility. .<\/p>\n
* Some believe that your company concentrates its investments in office towers, although your investments are diversified, can you explain?
\n** The company adopts a scientific real estate strategy based on sound studies that identify the real needs of the market, and according to these studies, the company takes its investment decisions, and it is clear that the demand for distinctive office buildings is increasing, and the directives of the Riyadh Municipality and the new building system in the commercial strip around the vital artery of King Fahd Road that allows multiple floors encouraged us to invest in the construction of distinctive office towers.
\nThat is why we were keen to choose locations and designs that meet the desires and needs of the elite of businessmen and major companies that seek luxury and excellence, and this is already embodied in our real estate projects in Riyadh, and we were also keen to use the latest modern building systems, the most wonderful engineering and architectural designs, and we used the expertise of major international companies in the field of design. . <\/p>\n
* After the Minister of Finance announced the imminent issuance of the mortgage system and other complementary regulations that will regulate the real estate market. How do you see the picture of the real estate market after the issuance of the long-awaited regulations? And how do you estimate the Saudi market's need for housing?
\n** I believe that the speedy approval of the mortgage system according to a local formula that complies with the Islamic Sharia, will stimulate the real estate sector in the Kingdom, and then all other sectors and activities will move, and therefore I believe that if the mortgage system is issued, it will make a great positive development in the field of real estate financing in the Kingdom, as well as solve the issue of housing for citizens, and create a kind of balance in the market, and facilitate the ownership of real estate by the middle classes and those with limited income more than it was in the past.
\nIf the mortgage is approved, the results will be positive for the market and the final beneficiary by providing financial liquidity that enables him to buy the property he wants or build by providing financial amounts in exchange for fulfilling the repayment according to the agreed terms while preserving the rights of the lender through the mortgage.
\nAs for the size of the housing need in the Kingdom, according to recent estimates, the market need is estimated at about two million housing units in the next ten years, and the number can increase if we know that Saudi Arabia has one of the highest population growth rates in the world at a rate of about 3 % annually, and there are about 80 % of Saudis in need of housing, and they do not have the ability to buy it directly, and there are a number of reasons that prevent them from owning housing, including the average per capita income of Saudis, which is low compared to the high real estate prices There are a number of reasons that prevent them from owning housing, including the average Saudi per capita income, which is low compared to the high real estate prices, and the process of buying a house for a large segment of Saudis directly is very difficult for the reason I mentioned, in addition to the high prices of land and real estate. . <\/p>","protected":false},"excerpt":{"rendered":"
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