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MEEF |
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KM Properties to invest
Dh5 billion in Saudi Arabia |
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Dubai-based
KM Properties, the real estate arm of the Knowledge Management
Group (KMG) has announced a major Middle East expansion with new
offices in three Saudi cities, Dammam, Riyadh, and Jeddah.With a Dhs 5 billion fund allocated solely to property development in Saudi Arabia, KM explained the strategy behind the new developments. “There is a booming real estate market in Saudi Arabia,” said Mr. Khalil Haddad, Managing Director of Saudi Operations. “KM Properties is excited at the prospect of entering such a dynamic market, and we are also eager to give back to the community at large.”
An entrance of this scale is expected to create a substantial number of jobs for the Saudi market. The company is also in discussion with various developers in the country and is expected to announce a number of joint ventures soon.
With marketing activities in the KSA to begin in the first quarter of 2007, KM Properties is committed to a long and successful relationship with the Kingdom of Saudi Arabia. KM Properties is a market leading UAE real estate developer, with a number of successful residential, commercial, and freehold projects. The company recently launched the El Matador tower, one of the few residential developments in Dubai to feature loft apartments and terrace villas.
KMP is also one of the few developers in the region to guarantee date of delivery and consequently deliver on time. The Park Lane development in Dubai's Business Bay was one of the first mixed-use freehold developments to enter the market. KMP's constant partnership with its construction company, Al Rostamani Pegel, helps maintain consistency.
“When our clients invest in us, they do so with the assurance that they are buying into trust as much as the project itself,” says Mr. Khalil Haddad. “That’s because we want the best for our investors. Everything from our designers to our construction company is chosen with our consumers in mind, and they are well aware of this.”
The hugely popular Park Square project sold out within a month of its launch, due mainly to its reputation and the trusting relationship it has cultivated with its investors through the years.
KMP's prestigious Park Lane and B2B developments were designed by Carlos Ott, known for regionally for designing the National Bank of Dubai headquarters, and internationally - L’Opera de Bastille in Paris. KMP is committed to continuing the use of this high level of expertise in all its future developments.