Under the auspices of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, Alsoliman Real Estate Company signed agreements to launch four real estate funds worth SAR 3 billion in the presence of the Chairman of the Board of Directors of Alsoliman Real Estate Company, Dr. Ibrahim bin Muhammad Alsoliman, and representatives of the managers of real estate funds (Jadwa Investment Company, Tharwat for financial Securities, Al Awwal Capital Company and Nomu Capital Company).
The signing took place on the sideline of the Restatex Real Estate Exhibition, the most important annual forum for real estate, housing and financing investment decision-makers, held at the Riyadh International Convention and Exhibition Center in Riyadh from March 7-10, 2023.
Vice Chairman of the Board of Directors of Alsoliman Real Estate Company and Managing Director, Mr. Badr bin Muhammad Alsoliman, highlighted that the signing of the agreements to launch four real estate funds comes from the company’s strategic approach to develop luxurious residential and commercial communities and buildings full of luxury, which keep pace with the Kingdom’s Vision 2030 in providing modern housing facilities suitable for Saudi families in a way that meets their aspirations in a healthy and prosperous environment, as the four funds will provide about 4,000 luxurious residential and commercial units with a total area of more than 1 million square meters in Riyadh and Makkah.
For his part, CEO and member of the Board of Directors, Eng. Hamza Al-Bastanji confirmed that Alsoliman Real Estate Company is always seeking to invest with partners who share its success, adding: “We are confident that the agreements signed today with our partners, managers of real estate funds, will contribute to providing various real estate products with international standards that keep pace with the Kingdom's vision on its way towards achieving a comprehensive and integrated future national development.”
Jadwa Investment Company will manage the " Alsoliman Investment Fund" to develop Alsoliman Elite district, which will provide more than 2,200 housing units in east Riyadh, with a value of about SAR 1.965 billion.
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