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Al Anwa and Investor for Securities confirms SAR1.8 billion with the announcement of exciting investment opportunities
21 October 2014
Al Anwa for Investment & Real Estate Development, the property arm of Saudi Arabia-headquartered Al Ibrahim Investment Group is set to grow its strategic partnership base in the region as a range of portfolio investment opportunities in the Kingdom have been confirmed.
The annual property show Cityscape Global, which took place in Dubai from 21-23 September, proved to be extremely successful for the group, particular with the signing of one of the largest real estate funds in the KSA with Investor for Securities.
A range of meetings and agreements further underscored the successful show for the company with Salman bin Abdullah bin Fadilah, General Manager, Al Anwa Investment & Real Estate Development stating:
We are delighted with the outcome of Cityscape Global, we not only met our expectations but exceeded them in terms of highlighting the investment opportunities in the Kingdom to a range of high quality investors from around the world.
"Our goal was to showcase a range of projects located in Riyadh, Mecca and Jeddah to reputed local and international investors and developers. The signing of a memorandum of understanding with the Investor for Securities group was particular good news and we look to the future with great optimism.
  
Our team has started work on a preliminary study and design concept for an under-wraps project for the Jeddah Corniche, which is set to be one of the largest and most important investment mixed-use projects in the region, featuring commercial and residential towers as well as retail and entertainment spaces covering an area of more than 50,000-squre metres.
Chairman of the Board of Directors of Investor for Securities, Abdullah bin Mohammed Al-Fazwan said:
We offer a range of services including asset management, investment banking, securities brokers and traders, and have subsequently built strong reputation and trust among our valuable customers. As such we will be investing over six billion riyals in various projects in the Kingdom over the next four years, with investment funds incorporating both the public and private sectors.
Investor for Securities and Al Anwa are currently in the development stage of a new community project that will encompass a total area of just under two million square metres, with a total joint fund of nearly two billion Saudi riyals.
Recent studies have highlighted growth in the Saudi economy in the last five years with an increase of 6% with oil prices cited as one of the contributing factors, added Al Fazwan. For the same period there has been strong growth in the private sector and non-oil related industries with an average increase of 7%, supported by high levels of business lending by the banks and thus indicating strong groweth in the market from a real estate perspective.
Al Anwa has also set the wheels in motion for a series of hospitality projects for Mecca, with strategically sited central locations occupying more than 10,000-square metres and plots totalling in excess of 30,000-square metres close to key sacred sites secured for development.
It has also been confirmed that the company will launch a new investment project located on the Kings Road in Jeddah in addition to an integrated services residential scheme in the north of the province, adding to the more than one-million-square-metres of projects it currently has under development.


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