Salama bin Saedan: 'We intend to conduct offerings worth SAR 12 billion, list 3 companies, and establish 7 funds'
RIYADH, Saudi Arabia, Feb. 13, 2024 /PRNewswire/ -- Masharee Company, a renowned real estate development firm in Saudi Arabia, has announced its comprehensive strategic plans for the next five years. With a focus on solidifying its position as a leading player in the real estate market, driving business growth, and enhancing project performance, Masharee aims to capitalize on the Kingdom's current prosperity across various sectors. The company's ongoing projects align with Saudi Vision 2030 and contribute to the nation's overall progress.
Masharee Company's strategic plans reinforce its status as the premier real estate developer in the private sector within the Kingdom. The company's objectives include the construction of one million square meters of office space, 500 thousand square meters of residential space, 200,000 square meters of commercial space, and the establishment of five five-star hotels. Additionally, Masharee will prioritize the development of residential and tourist areas across all its projects. This announcement marks an exciting new chapter in Masharee Company's successful investment journey.
Salama bin Saedan, Chairman of the Board of Directors of Masharee Company, emphasized that the company's strategic plans are founded on a deep understanding of the advancements within the real estate sector. These plans build upon the company's recent project accomplishments and its commitment to innovation and investment in all cultural aspects to deliver diverse real estate offerings. This approach aligns with the ongoing progress in Saudi Arabia and enables Masharee to cater to the needs of clients, including private sector companies and individuals, by providing them with an enriching lifestyle.
Bin Saedan clarified that the company's strategic plans are based on several pillars, including the establishment of sustainability, governance, and social responsibility standards, expansion of investment options, maximizing asset returns, and enhancing operational efficiency and real estate project management. Furthermore, Masharee intends to launch offerings valued at approximately SAR 12 billion, list three companies on the Saudi capital market, and establish seven real estate funds. The company also aims to focus on the development of smart buildings to maintain its leading position within the private sector as a real estate developer.
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