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Naif Alrajhi Investment and Miskan Partner to Launch Aral Real Estate Development
Naif Alrajhi Investment and Miskan Partner to Launch Aral Real Estate Development

Naif Alrajhi Investment and Miskan, a leading real estate developer in Saudi Arabia, have partnered to launch Aral Real Estate Development Company. 

The strategic partnership was signed at Fairmont Ramla Serviced Residences, one of Naif Alrajhi Investment’s hospitality projects in Riyadh.

The new company aims to develop large scale residential communities, tourist resorts, and commercial projects aligning with Saudi Arabia’s Vision 2030 goals.

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The Launch of Aral Real Estate Development

Image Credit Naif Alrajhi Investment

This strategic partnership between Naif Alrajhi Investment, the renowned real estate investment and development group, and Miskan, a subsidiary of the esteemed Alfanar group and a leader in domestic real estate development, was formalized to launch of Aral Real Estate Development.

The launch is deeply rooted in the Saudi Vision 2030, a bold national blueprint that envisions a prosperous and diversified economy. 

Naif Saleh Alrajhi, the esteemed Chairman and CEO of Naif Alrajhi Investment Group underscored the synergy between this collaboration and the Kingdom’s overarching objectives, stating:

“This partnership coincides with and achieves the Kingdom’s Vision 2030: to build an ambitious nation with a prosperous economy. From here, the integration of both companies’ expertise in developing integrated real estate projects services emerges.”

Naif Al Rajhi Investment

Image Credit Naif Alrajhi Investment

The main headquarters of Naif Al Rajhi Investment is located in Riyadh, and they also have a presence in the U.A.E., the U.K., Italy, and Morocco. 

Naif Alrajhi Investment, established in 2012, collaborates with businesses in 11 various industries, such as real estate, hospitality, F&B, mining, contracting, interior design solutions, financial markets, marketing, and logistics. 

Naif Alrajhi Investment, in partnership with the General Entertainment Authority, introduced Ramla Terraza, a luxurious destination in Riyadh in 2023. Ramla Terraza offers diverse culinary landscape of Riyadh through its four Ramla Terraza restaurants, including Clap, Brute, Iris Cafe, and Jones the Grocer.

It also has other Saudi Arabia projects, including Northern Ring Road Project, AL Madinah Project, Ascott Al Khobar, and Hiteen Project.

Redefining Residential Living

Image Credit Naif Alrajhi Investment

Aral Real Estate Development’s mission is to create residential cities that transcend mere housing developments. 

Envisioned as thriving, self-sufficient communities, these residential enclaves will encompass a harmonious blend of residential units, retail outlets, educational facilities, places of worship, recreational spaces, and comprehensive infrastructure.

Talal Hisham AlMutlaq, the Executive Manager of Miskan, echoed this sentiment, emphasizing the transformative potential of the partnership:

“Major projects that address the demands of the expanding market will be implemented as a result of this partnership, and the establishment of a new company marks a significant turning point toward realizing the shared objectives of innovation and growth in the real estate development sector.”

Image Credit Naif Alrajhi Investment

Some of the most defining residential projects of Naif Alrajhi Investment include the Nora Complex in Riyadh, Time Place Tower in Dubai, and Hiliana Tower in Dubai.

Infrastructure, Superstructure, and Beyond

Image Credit Naif Alrajhi Investment

Aral Real Estate Development’s ambitious undertakings will encompass a comprehensive array of projects, spanning infrastructure development, superstructure construction, and establishing diverse real estate offerings. 

This holistic approach aims to catalyze urban transformation across the Kingdom, fostering sustainable growth and elevating the quality of life for residents.

Infrastructure Prowess

Image Credit Naif Alrajhi Investment

Aral’s infrastructure initiatives will lay the groundwork for seamless connectivity and efficient resource management within these residential cities. 

State-of-the-art transportation networks, utilities, and public services will be meticulously planned and executed, ensuring a seamless integration of essential amenities into the fabric of these communities.

Superstructure Excellence

Image Credit Naif Alrajhi Investment

Complementing its infrastructure endeavors, Aral Real Estate Development will showcase its prowess in superstructure construction, erecting residential units, commercial spaces, and recreational facilities that epitomize modern living standards. 

These structures will be thoughtfully designed to foster a sense of community, promote sustainability, and cater to the evolving needs of residents.

Diverse Offerings

Image Credit Naif Alrajhi Investment

Recognizing Saudi residents’ diverse preferences and lifestyles, Aral Real Estate Development will curate a diverse portfolio of residential options. 

Image Credit Naif Alrajhi Investment

From luxurious apartments to spacious villas, these offerings will cater to various demographics, ensuring every individual or family can find their ideal living space within these vibrant communities.

Embracing Innovation

Image Credit Naif Alrajhi Investment

In line with Saudi Arabia’s commitment to environmental sustainability, Aral Real Estate Development will prioritize eco-friendly practices and innovative solutions throughout its projects. 

Energy-efficient design principles, renewable energy integration, and responsible resource management will be at the forefront, ensuring that these residential cities provide comfortable living spaces and contribute to a greener, more sustainable future.

Collaborating with Industry Leaders

Aral Real Estate Development will collaborate with renowned architectural firms and industry leaders to bring its visionary concepts to life. 

By leveraging cutting-edge design principles and embracing innovative construction methodologies, these partnerships will ensure that every residential city developed by Aral stands as a testament to architectural excellence and functional elegance.

Enhancing Lifestyle Experiences

Image Credit Naif Alrajhi Investment

Aral Real Estate Development’s residential cities will be designed as self-contained oases, offering a wide array of amenities and services to enhance the quality of life for residents. 

From world-class recreational facilities and retail destinations to educational institutions and healthcare centers, these communities will cater to the diverse needs of their inhabitants, ensuring a truly integrated and convenient living experience.

Investing in the Future

Aral Real Estate Development’s ambitious vision extends beyond the immediate projects on the horizon. 

The company’s long-term strategy involves identifying and capitalizing on emerging growth opportunities within the real estate sector, ensuring a sustainable and prosperous future for the organization and the communities it serves.

Shaping the Residential Landscape

Image Credit Naif Alrajhi Investment

As Saudi Arabia continues its transformative journey under the Vision 2030 framework, Aral Real Estate Development stands poised to play a pivotal role in shaping the residential landscape of tomorrow. 

Through its commitment to innovation, sustainability, and community-centric development, this strategic partnership between Naif Alrajhi Investment and Miskan promises to redefine urban living standards, fostering vibrant, self-sufficient communities that elevate the quality of life for generations to come.

More Development Projects in Riyadh

New Murabba

Image Credit New Murabba

The New Murabba Development Company and the Tourism Development Fund of Saudi Arabia have partnered to create the New Murabba, which is set to become the biggest central area in Riyadh. 

The iconic project, highlighted by the iconic Mukaab tower at its heart, will encompass 2 million square meters of floor space and include retail sections, tourist destinations, and hotels

The project is projected to contribute $48 billion to the Saudi economy and generate approximately 334,000 jobs, both directly and indirectly.

Elie Saab Branded Residences

Image Credit Dar Al Arkan

Dar Al Arkan, a prominent real estate company in Saudi Arabia, has recently introduced the inaugural Elie Saab Branded Residences in Riyadh. 

These residences, known as Etoile by Elie Saab, are situated within the SEDRA community in northern Riyadh, in close proximity to King Khalid International Airport.

SEDRA

Image Credit Dar Al Arkan

SEDRA stands out as one of Riyadh’s most sought-after developments, spanning 20 million square kilometers. It is an integral part of the ROSHN Giga project, fully owned by the Public Investment Fund (PIF). 

SEDRA is a highly desirable development and is a part of the ROSHN Giga project with the primary goal of ROSHN to increase the homeownership rate among Saudi citizens to 70% by 2030.

Ritz-Carlton Branded Residences in Riyadh

Image Credit Diriyah Company

Diriyah Company, in collaboration with Ritz-Carlton, has unveiled plans to debut premium branded residences in the Kingdom. These exclusive Ritz-Carlton Residences will be situated in Riyadh’s vibrant center of the $63 Billion Diriyah Giga project.

These villas have three unique luxury interior styles, from traditional Najdi to modern contemporary designs, and promise a distinctive living experience. Upon its entirety, the Diriyah Project aims to encompass 20,000 residential units alongside upscale hotels and dining establishments.

Keep Reading: The New Murabba Reveals Progress on The World’s Largest Modern Downtown

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