Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Abdulaziz Alsaghyir concludes SR500m deals  Join our daily free Newsletter

MENAFN - Arab News - 06/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Abdulaziz Alsaghyir Holding - one of the major companies specialized in investment, contracting, building materials and real estate development sectors - has announced that the volume of company investments in the real estate sector for 2013 exceeded SR500 million.
The real estate investment deals concluded by the company throughout last year were mainly concentrated in three major countries - Saudi Arabia, the US and the UK.
Waleed Alsaghyir, VP at Abdulaziz Alsaghyir Holding, said throughout 2013 the company entered into real estate deals in a range of global real estate markets with the purpose of accomplishing a bundle of investment targets. At the foremost of these targets was entering the American real estate market in order to accomplish about 9 percent annual cash return where dissociation takes place in five years.
A number of current real estates were acquired in some of the major states of strong economics, including Texas, California and the Capital Washington, DC.
Abdulaziz Alsaghyir Holding invests in the Saudi residential real estate sector through one of its real estate companies - Maskan Arabia Co. - in which it possesses ownership stakes of about 70 percent.
The company was originally founded for the purpose of providing high quality housing solutions and crafting the most prestigious housing standards through launching a number of villa projects that enjoy elegance of design and uniqueness of execution, according to a statement.
The company's investment portfolio consists of a broad range of residential projects, and throughout the past three years Maskan Arabia managed to deliver three projects comprising 114 residential units.
The most prominent among the company's residential projects are Maskan Villa, Maskan Villa and Al Dar Project in the Al Ma'athe district in Riyadh. Currently, Maskan Arabia plans to complete its latest and huge residential project Ritaj, which the company has started to develop in northern Riyadh and comprises 292 residential units.


Waleed Alsaghyir, VP at Abdulaziz Alsaghyir Holding, clarified that the real estate sector is of great importance to the company. "By virtue of the wide experience that it has acquired through its investments and presence in the global and local real estate markets since a long time ago, Abdulaziz Alsaghyir Holding always regards the real estate sector as an important and desired commodity regardless of the fluctuations, which might affect it from time to time in light of its nature and due to the changes in the world economic cycle," he added.


"Yet after all, the real estate sector remains to be a strategic, defensive, dynamic and rewarding sector at the same time; likewise, the demand for this sector is constantly rising not to mention the increase in population. In light of the previously mentioned, the company focused on this kind of investment and distributed its investment portfolio - whether in terms of the geographical aspect of target markets or the type of return on investment - via getting engaged in global real estate markets

," he said.
Alsaghyir expects that the Saudi real estate sector will continue the march of prosperity that it has started a few years back given the establishment of an independent ministry mainly concerned with housing, issuance of executive regulations for the mortgage system as well as the government initiatives - represented in the Ministry of Housing - in supporting citizens to attain their own residential units.

 






  MENA News Headlines
 Jul 31 2014 - Air Algerie's plane crashesMENAFN
(MENAFN) A senior official said that the Air Algerie flight that crashed in Mali last week appears to have plummeted to the ground from an altitude of 10,000 meters in just a few minutes after flying ...

 Jul 31 2014 - Dubai's Damac eyes listing shares in Dubai bourseMENAFN
(MENAFN) Dubai luxury property developer Damac is trying to attract investors to invest in converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that ...

 Jul 31 2014 - 'Nearly 100 casualties' in Xinjiang violenceArab News
(MENAFN - Arab News) IJING: A clash in Xinjiang home to China's mostly Muslim Uighur minority left nearly 100 people dead or wounded an exile group said Wednesday after what authorities called a ...

 Jul 31 2014 - Aquino seeks to quash rumors of military coupArab News
(MENAFN - Arab News) NILA: Philippine President Benigno Aquino sought Wednesday to quash rumors that a coup is being plotted against him with his spokesman insisting he had the military's full ...

 Jul 31 2014 - Kerry in New Delhi to reboot ties with ModiArab News
(MENAFN - Arab News) W DELHI: US Secretary of State John Kerry flew into India on Wednesday for ice-breaking talks with new Prime Minister Narendra Modi forecasting a transformation in Washington's ...

 Jul 31 2014 - UK bankers' bonus: Tough rules on wayArab News
(MENAFN - Arab News) NDON: British banks will be able to claw back employee bonuses up to seven years later if the recipient is found guilty of serious recklessness the Bank of England ...

 Jul 31 2014 - Amazon to invest 2bn to expand in IndiaArab News
(MENAFN - Arab News) MBAI: The world's largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees.Amazon.com Inc. said it will invest ...

 Jul 31 2014 - Mobily Wajid offers free lines to family membersArab News
(MENAFN - Arab News) Bily continues to provide its extraordinary offer to the new subscribers of Wajid that provides discounts and privileges to all family members.The new Wajid Extra and Plus ...

 Jul 31 2014 - Wife of BIS official dies in road crashArab News
(MENAFN - Arab News) E wife of a member of the governing board at the Bangladesh International School (BIS) in Jeddah was killed in a road accident on Tuesday the second day of Eid Al-Fitr.Nasima ...

 Jul 31 2014 - Indian Eid program toned down in solidarity with GazansArab News
(MENAFN - Arab News) Extensive yearly Indian community Eid program was reduced to a simple get-together ceremony on Monday night in solidarity with the victims of Gaza.Indian expatriates condemned ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help