Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Manazel Makkah project on target  Join our daily free Newsletter

MENAFN - Arab News - 28/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) BlomInvest Saudi Arabia announced that the building and construction works of Manazel Makkah Real Estate Fund project have achieved a great deal of development in the initial phases and managed to reach advanced stages.
It is expected that the project skeleton works will be over by April while the finishing works will take place in October.
Manazel Makkah project is located in the Bathaa Quraish neighborhood of Makkah on a 25-meter wide commercial road.
The project is implemented over 6 land lots with a total area of 11,329 square meters and it mainly consists of four projects of a total construction area estimated by about 47,100 square meters.

The project will be developed for the purpose of providing a diverse product of 228 residential units of various sizes ranging between 125 square meters and 170 square meters together with 30 commercial shops.
In designing these projects, the needs of the housing market in Makkah have been taken into consideration besides creative additions in the function, internal distribution and external appearance of the buildings.
Steps are being taken to provide a parking lot for each residential and commercial unit.

Abdullah Al-Rashoud, CEO of BlomInvest Saudi Arabia, said the project construction work was progressing in full swing in all phases.
The team is currently working on finishing the pillars and walls of the basement (shop floor). He said project developer Bait Al-Mutawireen Company was expected to complete the entire skeleton works by April.
The finishing works would take place in October.

Saad Al-Moamer, CEO of Bait Al-Mutawireen Co., developer company, said the construction works of Manazel Makkah Real Estate Fund were progessing according to the set schedule and that upon the completion of all the project construction and final works, the fund should start marketing and selling the ready real estate units as condominiums to the end-user.

The payment will be either in cash or through the financing houses or local banks according to the conditions that best suit the fund's interest; afterward the returns will be distributed among the investors.
BlomInvest operates as the investment arm of Blom Bank Group in Saudi Arabia.

It provides large companies with financial consultancy services on raising capital, issuing shares and bonds and listing them in the stock market, mergers and acquisition, financing, creating and launching investment funds through public or private offering, in addition to structuring investment services, wealth management and other investment and consultancy services.

BlomInvest also conducts financial intermediation in international and regional markets besides various studies and researches.
The company is a professional firm that has a long experience and presence in more than 12 countries, which is managed by an outstanding team that is professionally working together with partners in the Kingdom toward success and excellence.

It is committed to the highest norms and standards of investments and is known to have transparent operations that are subject to the auditing of specialized monitoring agencies.

 


Arab News




  MENA News Headlines
 May 24 2015 - RAK Properties grants contract for USD2.72b Mina Al ArabMENAFN
(MENAFN) Abu Dhabi-based RAK Properties said that it has granted a construction contract to begin implementing phase 1 of its lifestyle marina at Mina Al Arab, Arabian Business reported.The lifestyle ...

 May 24 2015 - UAE- Al Mansouri expresses satisfaction at findings of report on e-government transitionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Minister of Economy Sultan bin Saeed Al Mansouri has expressed satisfaction at the results of the final report on transition to m-Government, which showed the ...

 May 24 2015 - UAE- Mohammed bin Rashid, Mohamed bin Zayed attend wedding reception hosted by Al MansouriEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) His Highness Sheikh Mohammed bin Rashid Al Maktoum,Vice President and Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, ...

 May 24 2015 - UAE- Saif bin Zayed honors five ADP staff members with Employment Excellence MedalsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Lt. General HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, has granted five Abu Dhabi Police (ADP) staff members the ...

 May 24 2015 - UAE- Dastardly attack that deserves to be condemned: paperEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) A UAE paper has said that there are few words that can describe the sick and seditious nature of the suicide bomb attack on a Saudi mosque on Friday. A lone ...

 May 24 2015 - Umm Al Qaiwain Ruler offers condolences to Kuwaiti Emir on the death of Al-KharafiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) H.H. Sheikh Saud bin Rashid Al Mu'alla, Supreme Council Member and Ruler of Umm Al Qaiwain, has sent a cable of condolence to His Highness Sheikh Sabah Al-Ahmad ...

 May 24 2015 - UAE- ADNOC hosts Middle East's largest energy R&D summitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Abu Dhabi National Oil Company, ADNOC, today welcomed over 1,500 research and industry professionals for the Abu Dhabi International Research and Development ...

 May 24 2015 - UAE- SKSH-RAK discusses CT pattern approach in diffuse lung diseasesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The Sheikh Khalifa Specialty Hospital in Ras al-Khaimah, SKSH-RAK, is to organise the second Imaging Conference on Monday with the attendance of a number of ...

 May 24 2015 - A celebration marking Africa Day takes place in Abu DhabiQEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) A number of diplomats from different African communities have celebrated Africa Day in Abu Dhabi in the presence of many officials from the GCC and the ...

 May 24 2015 - Dubai Duty Free GK Village officially opens at Binotong in the PhilippinesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai Duty Free, through its Corporate Social Responsibility arm, the Dubai Duty Free Foundation, in partnership with Gawad Kalinga, a Philippine-based poverty ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help