On July 24, Bloom Saudi Investment closed subscriptions for the Bloom Amjal Al-Shamal Real Estate Fund\u2014 a three-year fund aimed at developing and marketing 158 residential villas being developed and marketed by Amjal Real Estate Development Company north of Riyadh across five residential blocks covering an area of 55,833 m\u00b2. The total cost is estimated at 245 million riyals. Engineer Abdullah Al-Rashoud, CEO of \u00bbBloom,\u00bb said \u00abOur confidence in the Saudi real estate market is very high, given the significant demand for housing developed by developers capable of producing homes that meet the needs of Saudi families with high quality and affordable prices,\u00bb emphasizing his confidence in Amjal\u2019s capabilities, as the company has demonstrated its ability to deliver on time and to a high standard of quality, as agreed upon for the Bloom Amjal Al-Yasmin project. Al-Rashoud added that the strong synergy between the financial and real estate sectors in our country\u2014resulting from the development of regulations, legislation, and procedures related to both sectors after decades of estrangement\u2014will have a positive impact on the housing issue in our country in terms of both the quantityquality of the residential units produced, which are capable of meeting all types of housing demand. This is because the financial sector, through securities\u2014which serve as both a financing and investment tool\u2014will channel significant local capital into this large, important, and vital investment channel, in accordance with strict regulatory requirements regarding quality and adherence to timelines for the production of high-quality, appreciating-value housing units that serve as collateral assets to finance their buyers over long periods. For his part, Engineer Saud Al-Qasir, CEO of Amjal Real Estate, expressed his delight at the continued cooperation between \u00bbAmjal\u00bb and \u00abBloom\u00bb as a positive outcome of the success of the initial pilot project, the Bloom-Amjal Real Estate Fund, which was launched in the summer of 2013, noting that the Saudi real estate market is maturing in line with international markets following the regulatory developments it has witnessed over the past ten years\u2014particularly regarding development, marketing, and financing regulations. He emphasized that all parties involved in regulations\u2014including their implementation, monitoring of effectiveness, andare now more aligned and confident in achieving common goals that serve the interests of the nation, its citizens, and development in all its forms. He added: The real estate market is witnessing growing demand for housing developed by established developers capable of fulfilling their promises regarding quality, completion timelines, pricing, and after-sales guarantees, emphasizing that \u201cAmjal\u201d operates according to a well-thought-out strategic plan and effective mechanisms to build high levels of trust and credibility with financiers on the one hand and homebuyers on the other, enabling it to achieve sustainable annual growth rates that place it among the Kingdom\u2019s leading real estate development companies as afirst-rate. Al-Qasir explained that the integration of the real estate and financial sectors will reshape the landscape of housing quality, as traditional and investment banks financing housing development projects emphasize quality as the primary guarantee for the success of the financing process and the achievement of its objectives. Therefore, they include as part of their terms the appointment of an independent engineering consultant to monitor the implementation phases and quality, in addition to requiring an insurance policy covering all types of risks, quality certificates, and performance guarantees, among other measures. This ensures the quality of housing production and the reasonableness of its cost, thereby enabling the marketingat competitive prices.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>On July 24, Blom Saudi Investment closed the subscription to the three-year Blom Amjal North Real Estate Fund, which aims to develop and market 158 residential villas developed and marketed by Amjal Real Estate Development Company north of Riyadh on five residential blocks with an area of 55,833 m2. At a total estimated cost of SAR 245 million. Engineer Abdullah Al-Rashoud, CEO of ... Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[107],"tags":[],"class_list":["post-87115","post","type-post","status-publish","format-standard","hentry","category-funds-reits"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0635\u0646\u0627\u062f\u064a\u0642 \u0648\u0631\u064a\u062a\u0633<\/a>","tag_info":"\u0635\u0646\u0627\u062f\u064a\u0642 \u0648\u0631\u064a\u062a\u0633","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/87115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=87115"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/87115\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=87115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=87115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=87115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}