Quotes: 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 a 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.

 


Arab News




  MENA News Headlines
 Feb 12 2016 - Egypt logs 16.5pct drop in non-oil exports over 2015MENAFN
(MENAFN) Egypt's non-petroleum exports saw a 16.5 percent decline in value throughout the previous year as opposed to 2014, based on recent reports.Based on Egypt's General Authority for Export and ...

 Feb 12 2016 - UAE's new theme park's expenditure hits USD1.5bMENAFN
(MENAFN) Set to open its doors this Oct. the all new Dubai Parks and Resorts along with its land has had its overall project expenditure hit USD1.5 billion at the end of last year as opposed to much ...

 Feb 12 2016 - ACWA Power to collect USD8b debt in H1MENAFN
(MENAFN) ACWA Power, the Saudi-based power generation and desalinated water production plants' operator, intends to raise USD8 billion of debt over the first six month of the current year, according ...

 Feb 12 2016 - Spain dismantles falcon trafficking ring destined for UAE racesThe Peninsula
(MENAFN - The Peninsula) (file photo / Reuters ) Madrid: Spanish police said Thursday they had dismantled an international ring that smuggled falcons to the United Arab Emirates where ...

 Feb 12 2016 - Russia raises spectre of world war if nations fail to negotiate over SyriaThe Peninsula
(MENAFN - The Peninsula) Russian Prime Minister DmitryMedvedevchairs a meeting with ministers and top officials on social and economic policy in Moscow on February 10 2016. REUTERS ...

 Feb 12 2016 - Germany offers 500 mln euros in credits to IraqThe Peninsula
(MENAFN - The Peninsula) German Chancellor AngelaMerkel(L) and Iraqi Prime Minister Haider al-Abadi shake hands at a joint press conference after meeting at the Chancellery in Berlin on February 11 ...

 Feb 12 2016 - Russia claims US planes bombed Syria's AleppoThe Peninsula
(MENAFN - The Peninsula) Stalls are seen on a street beside damaged buildings in the rebel held al-Shaar neighborhood of Aleppo Syria February 10 2016. REUTERS Moscow:Russia's defence ...

 Feb 12 2016 - Erdogan threatens to send refugees to EU as NATO steps inThe Peninsula
(MENAFN - The Peninsula) Syrian people wait in front of the Oncupinar crossing gate to go back to Syria near the town of Kilis in south-central Turkey on February 11 2016. AFP Ankara:Turkish ...

 Feb 12 2016 - Qatar- LNG deal 'key to Pakistan's prosperity'The Peninsula
(MENAFN - The Peninsula) Pakistan Prime Minister Nawaz Sharif addressing members of the Pakistani community at the Four Seasons hotel yesterday. Pic: Abdul Basit / The Peninsula DOHA: ...

 Feb 12 2016 - Qatar- Emir visits Al Qassar Metro Station projectThe Peninsula
(MENAFN - The Peninsula) Emir H H Sheikh Tamim bin Hamad Al Thani is briefed on the project by Minister of Transport and Communications H E Jassim bin Saif Al Sulaiti. Doha: Emir H H Sheikh Tamim ...

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

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