Monday, 23 October 2017 02:50 GMT
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Saudi - Abdulaziz Alsaghyir concludes SR500m deals

(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.


Saudi - Abdulaziz Alsaghyir concludes SR500m deals