CEO, RAFAL Real Estate Development Company
RAFAL has been recognized for developing unique and distinguished residential projects in Riyadh, and these projects granted RAFAL its competitiveness locally and regionally. We are exploring other considerable opportunities within the Saudi Market like the western and eastern regions of Saudi Arabia as well as the religious hospitality segment. Also, the GCC countries are definitely an interesting market, particularly Bahrain as we have been invited by a promoter in Bahrain to participate in a project. Since Bahrain seeks to improve its causeway and consolidate its two immigration points into one, this will increase the number of Saudis heading to Bahrain and thus creating more demand for real estate projects thus more development opportunities for us there.
CEO, Olaya Real Estate
We started in land development and, after that, we realized that we had to shift our interest into residential and commercial buildings. We are always trying to figure out how to attract new consumers by studying their needs, which are constantly changing. For example, we are thinking about creating a great living community for Saudi Arabia that is not a compound, changing our main business of developing land by creating homes within gated communities. We have another compound with our sister company, but with this compound we are trying to do apartments with all the facilities included. We are operating in real estate but focusing on unique opportunities. We are pushing to be a real estate company that has a special project with the lowest competition as well as the lowest risk. We want to be the leader who capitalizes on opportunities anywhere in Saudi Arabia.
Managing Director & CEO, Esam A. Altayyar
Within the hospitality sector, our target market is long-stay corporate clients. When people are visiting Saudi Arabia or companies come from abroad, they typically opt for four- or five-star international brands and names, while other local furnished apartments are left to a lower segment of the market or local demand. And so we decided to fill that gap. With apartment hotels, guests get the standards and services of a hotel but enjoy a larger-sized room, kitchen, and additional facilities that are ideal for long-term stays. We have signed almost 200 deals with corporates in year one, and most of them are with companies such as airlines and retail.
CEO, Saqifat al Safa
When the government decided to launch the Haramain Railway between Mecca and Medina, it put its main station in a neighborhood called Al-Sulemania in Jeddah. We coordinated with the landowner and a fund to develop a large project adjacent to the station. We have the only fully developed land parcel in that area of its size, 1.4 million sqm. When the project started, the development became a valuable proposition for the landowner. It is an investment proposition that people need, and this land will deliver that to investors. Mass transport always requires property around it. The train station will require 17,000-20,000 hotel rooms within the first five years of operation. There is a section for housing as well as space serving both B2B and B2C commerce. I estimate 60% of the land development will focus on commerce and hospitality and 40% will focus on the residential market.
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SAUDI ARABIA - Real Estate & Construction
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