11- May – 2015
The real estate market in Saudi Arabia recently witnessed the signing of an agreement between the Saudi Global Investment House (Saudi Global) and Mosa Abdul-Aziz Al-Mosa and Sons Group to launch a real estate fund in the Saudi market, provided that Saudi Global will manage the fund and Mosa Al-Mosa Group will assume the duties of the fund developer.
The agreement was signed by Mosa bin Abdul-Aziz Al-Mosa, Chairman of the Board of Directors of Mosa bin Abdul-Aziz Al-Mosa and Sons Group, and on behalf of Saudi Global, the CEO Khaled bin Saleh Al-Sorayai.
This agreement aims to invest in income-generating real estate projects in a number of cities in the Kingdom by offering a real estate fund in the Saudi market, provided that Saudi Global will manage the fund and the Mosa Abdul-Aziz Al-Mosa and Sons Group, will assume the duties of the fund developer. The Saudi market is full of investment opportunities in the real estate sector, and through this agreement, focus will be placed on providing real estate units in sectors and regions with high demand and scarcity of supply to contribute to bridging the gap between supply and demand.
On this occasion, Mosa bin Abdul-Aziz Al-Mosa, Chairman of Mosa Abdul-Aziz Al-Mosa and Sons Group said, “We are happy to partner with Saudi Global, which is an important step in providing rewarding real estate opportunities for investors that meet the needs of the real estate market in the Kingdom, whether residential, commercial or industrial sector. Saudi Global’s experience in asset management, especially in managing investment funds, will contribute greatly to the success of this cooperation by attracting the necessary capital and managing the fund professionally.
For his part, Khalid Al-Sorayai, CEO of Saudi Global, said, “This agreement is the first of cooperation between the two companies to offer other investment and real estate products in the future. Our partnership with the Mosa Abdul-Aziz Al-Mosa and Sons Group and its experience in the real estate market in the Kingdom will definitely be an added value in accessing the best available real estate opportunities.”