Knight Frank, a leading global property consultancy, has announced an agreement with the Saudi Ministry of Municipal and Rural Affairs and Housing to drive investment opportunities in the kingdom’s public parks and urban spaces.
Knight Frank recently opened their Saudi office in Laysen Valley in Riyadh. This partnership Indicates a significant step forward in developing public parks and urban spaces, aligning to establish sustainable and attractive spaces.
A New Era
The announcement of this alliance came during the launch ceremony of the Obhur waterfront development project.
This event was held under the auspices of Prince Badr bin Sultan Al Saud, the Deputy Governor of Makkah, and Majid bin Abdullah Al Hogail, the Minister of Municipal and Rural Affairs and Housing, along with other high-ranking officials.
Talal Raqaban, Partner and Head of Valuation & Advisory – KSA at Knight Frank, highlighted the importance of this cooperation during his speech. He stated that the partnership between the Ministry and Knight Frank underscores a shared vision of creating lively and contemporary urban environments.
Leveraging Expertise in Real Estate
With its comprehensive knowledge and experience in the real estate and investment sector, Knight Frank aspires to play a crucial role in attracting local and international investors. The aim is to contribute significantly to the success of initiatives related to public parks.
Commitment to the Bahja Initiative
Knight Frank’s commitment to advancing the Bahja Initiative is unwavering. The company is dedicated to actively contributing to the development of the Obhur waterfront.
Raqaban emphasized that this partnership significantly advances the development of public parks and urban spaces. The partnership aligns with the larger objective of establishing sustainable and appealing spaces.
With its expertise, Knight Frank is thrilled to assist MoMRAH in actualizing the vision detailed in the Bahja Initiative and contributing to the success of the Obhur waterfront development.
A Significant Milestone
The partnership between Knight Frank and MoMRAH is a significant milestone for urban development in Saudi Arabia. By leveraging Knight Frank’s expertise and commitment, there is considerable potential for creating vibrant and sustainable urban spaces that attract local and international investors.
This development aligns with the larger objectives of the Saudi Vision 2030, which aims to create a vibrant society, a thriving economy, and an ambitious nation.