Hassana and Kinan will undertake the development of a major mixed-use project in Riyadh
Wednesday, 3 July 2024
A groundbreaking collaboration has been announced between Kinan International Real Estate Development Company and Hassana Investment Company, the investment manager for the Saudi General Organization for Social Insurance (GOSI). This alliance will bring to life an innovative mixed-use real estate project in Riyadh’s Al Rimal region, spanning over 2 million square meters.
Visionary Mixed-Use Project
This ambitious development will feature:
- Retail Spaces: Diverse shopping experiences for residents and visitors.
- Office Facilities: Modern workspaces catering to various business needs.
- Residential Units: Up to 9,000 contemporary homes designed for comfortable living.
- Educational Institutions: State-of-the-art schools and learning centers.
- Healthcare Facilities: Comprehensive medical services for the community.
The project aims to integrate these components seamlessly, creating a vibrant and dynamic environment that caters to the evolving needs of Saudi citizens.
Hassana’s Strategic Investment
Hassana Investment Company commits to securing the financial future of Saudi generations through prudent, long-term investments. With over SAR 1.2 trillion ($320 billion) in assets under management, Hassana’s involvement in this project underscores its dedication to contributing to Saudi Vision 2030 by:
- Providing high-quality housing options to meet the growing demand in Riyadh.
- Creating 222,000 square meters of commercial space to boost local businesses.
CEO Saad bin Abdulmohsen Al Fadly emphasized that this partnership aligns perfectly with Saudi Vision 2030’s urban development goals. “This partnership reflects our strategy to invest in premier real estate projects that contribute to Riyadh’s urban transformation and ensure a prosperous future for all Saudi generations,” said Al Fadly.
Kinan’s Commitment to Excellence
Kinan International’s CEO and Managing Director, Nidal Abdulmajeed Jamjoom, is equally enthusiastic about the project. He stated: “Our aim is to deliver a development that sets a new standard in modern living, fostering a thriving environment where families can flourish.”
Shared Vision for Riyadh’s Future
Hassana and Kinan are set to enhance Riyadh’s urban environment and advance the broader goals of Saudi Vision 2030.This partnership is a testament to their shared vision for sustainable economic growth and development, setting a new benchmark in modern real estate.
