Aral Real Estate Development is set to undertake extensive infrastructure and superstructure projects for residential cities
Naif Saleh Alrajhi, Chairman and CEO of Naif Alrajhi Investment Group, and Talal Hisham AlMutlaq, Executive Manager of Miskan, signed the strategic partnership agreement contract at the Fairmont Ramla Serviced Residences, one of Naif Alrajhi Investment’s hospitality projects in Riyadh.
Naif Saleh Alrajhi, Chairman and CEO of Naif Al Rajhi Investment Group, commented on the partnership signing, saying: “This partnership coincides with and achieves the Kingdom’s Vision 2030, to build an ambitious nation with a prosperous economy, and from here came the integration between both companies’ expertise in developing integrated real estate projects services. We intend to establish a new real estate development concept to construct residential cities that promote the formation of lively communities, which is one of the most significant streams of the national economy’s sustainable development. We also seek to create quality real estate project types.”
The Executive Manager of Miskan, Talal Hisham AlMutlaq, in his part, emphasized that major projects that address the demands of the expanding market will be implemented as a result of this partnership and that the establishment of a new company marks a significant turning point toward realizing the shared objectives of innovation and growth in the real estate development sector. He stated, “We are confident that this partnership will contribute to achieving quality projects that keep pace with the Kingdom’s aspirations within Vision 2030.”
Aral Real Estate Development aims to develop large-scale infrastructure and superstructure projects for residential cities, promoting urban development and transformation in the Kingdom. This includes creating self-sufficient residential communities, recreational tourist resorts, commercial projects, and logistics cities that align with the vision of the Kingdom of Saudi Arabia.