Naif Alrajhi achieves milestone for Burj Ramla in Riyadh
Naif Alrajhi Investment has announced the completion of the structuring work of Burj Ramla. The 150-meter tower is characterized by its unique design beautifying the Riyadh skyline. The company said the project reflects its trust and reliance in the Kingdom’s real estate development sector.
Naif Al-Rajhi, CEO of Naif Alrajhi Investment, described the Saudi real estate market as the largest and the most significant in the region, witnessing major changes. “Such changes have provided great opportunities for growth, supported by the numerous measures taken to improve the market, fine-tune the Saudi economy, and diversify its resources. This is in addition to many other reforms aimed at pushing ahead the growth of real estate sector and the nation as a whole,” he said.
Jacques Elboustani, CEO of Ramla Real Estate Development, the development arm of Naif Alrajhi Investment, said: “The Kingdom’s real estate market is currently confronting a major challenge that requires solid achievement of quality projects and crafting a new model of real estate development that responds to requirements of the modern lifestyle of Saudis.”
Elboustani said that the qualitative changes witnessed by the market have led the company to invest in Burj Ramla that meets the needs of the customers and helps satisfy their aspirations. The tower design ensures provision of integrated entertaining services for all family members.
Strategically located on King Fahd Road, north of King Abdullah Financial District, Burj Ramla is expected to be finalized in the third quarter of 2018. The company plans to launch several other investment projects in the near future to positively consolidate its market position.
Naif Alrajhi Investment is one of the major national companies. The company has become a household name through its diverse investments in real estate, capital markets and private equity. The company’s investments are characterized by distinction and diversity, which span over more than 30 companies in 11 different sectors. It is headquartered in Riyadh and has branches in Dubai and London.