KM Properties to Build New Housing Projects in Saudi Arabia
- Arab News) DUBAI, 19 January 2007 — KM Properties, the real
estate arm of the KM Holding, recently announced its entry into
new markets in the Middle East region with the opening of new
offices in three major locations in Saudi Arabia including
Riyadh, Jeddah and Dammam.
With a fund allocated solely to property development in Saudi
Arabia, KM Properties is confident that this new development
would turn to be a successful one. "There exists a booming real
estate market in Saudi Arabia," said Khalil Haddad, managing
director of Saudi Operations. "KM Properties is excited at the
prospect of entering a market such as this, and we are eager to
give back to the community at large."
An entry of this scale is expected to create a substantial
number of jobs in the Saudi market. The company is also in
discussion with various investors in the country and is expected
to announce prospective joint ventures soon in order to tap high
"Other investors are more than welcome to contact any of our
Saudi offices in order to discuss unique investment
opportunities." Haddad stated. With marketing activities already
started in the country in the last quarter of 2006, KM
Properties looks forward to establishing a long, successful and
fruitful relationship with the real estate market in the
The announcement comes following the company's launch of a $2.3
billion Shariah-compliant fund for Islamic real estate assets to
include Islamic hotels, and other commercial, residential and
KM Properties is a major market developer with more than 24
million square feet in built-up area being designed and built
only in the past two years in the UAE and with many successful
residential, commercial projects.
KM Properties' continued partnership with Al Rostamani Pegel
construction company makes their work exceptional and
"When our clients invest in us, they do it with the assurance
that they are buying into trust as much as the project itself,"
Khalil Haddad said.
"That's because we want the best for our investors. Everything
from our designers to our construction company is chosen keeping
in mind our consumers, and they are aware of it."
KM Properties reputation and the relationship it has cultivated
with its investors over the years — one that is based on trust —
has resulted in the widely successful sale of all projects
launched to date, he added.