(MENAFN) Al-Mazaya Holding Group has purchased a new tower servicing the office and commercial sector and occupying an area of 2,160m2 in Al-Olaya district, Riyadh, for USD34.64 million.
The tower is distinguished by its strategic location on General Olaya Road, parallel to King Fahd Road, in one of the busiest areas of Riyadh, two kilometers from Cairo Square.
The built area of the tower is fourteen thousand square meters in size. It consists of a ground floor, which includes three trading stores, and seven other floors that include 55 business offices.
"Riyadh is one of the most important and promising real estate markets in the Gulf region, providing investors with a fixed cash flow and strong margins in a period of financial market uncertainty," CEO of Al-Mazaya said.