Signing ceremony
Alworoud Real Estate Investment Company (Alworoud) said it acquired an office property in King Salman neighbourhood in Riyadh for SAR 69 million, as part of its strategy aimed at developing and diversifying its portfolio of income-generating real estate assets and strengthening its presence in the main cities of the Kingdom, mainly Riyadh, Jeddah, and Madinah. 
The acquisition, completed through its investment arm Ajyal Alworoud, is also intended to strengthen the company’s presence in Saudi Arabia’s key cities.
The property is located on King Abdullah Road in Riyadh and has a total land area of 1,820 m2, of which a total built area exceeding 11,000 square meters. The property is comprised of seven floors with four parking levels providing more than 115 parking spaces. The property is currently fully leased 10-years, the company said.
“This acquisition represents a qualitative addition to our income-generating investment portfolio, as it combines a strategic location, long-term contract, and high-quality cash flows. Amidst the real estate growth in Riyadh, the office market continues to offer attractive investment opportunities, especially office assets located near metro stations within what are known as public transport-oriented development projects, which is witnessing increasing demand from both tenants and investors.” said Abdullah Kamel, Alworoud CEO.
Alworoud is a Saudi company that develops, owns and manages institutional grade real estate assets across KSA. Through its subsidiary, Ajyal Alworoud, the company works to build and grow a diversified investment portfolio of high-quality real estate assets across the Kingdom with a focus on primary cities Madinah, Riyadh and Jeddah achieving sustainable returns and enhancing long-term value.
Signing ceremony
Alworoud Real Estate Investment Company (Alworoud) said it acquired an office property in King Salman neighbourhood in Riyadh for SAR 69 million, as part of its strategy aimed at developing and diversifying its portfolio of income-generating real estate assets and strengthening its presence in the main cities of the Kingdom, mainly Riyadh, Jeddah, and Madinah.
The acquisition, completed through its investment arm Ajyal Alworoud, is also intended to strengthen the company’s presence in Saudi Arabia’s key cities.
The property is located on King Abdullah Road in Riyadh and has a total land area of 1,820 m2, of which a total built area exceeding 11,000 square meters. The property is comprised of seven floors with four parking levels providing more than 115 parking spaces. The property is currently fully leased 10-years, the company said.
“This acquisition represents a qualitative addition to our income-generating investment portfolio, as it combines a strategic location, long-term contract, and high-quality cash flows. Amidst the real estate growth in Riyadh, the office market continues to offer attractive investment opportunities, especially office assets located near metro stations within what are known as public transport-oriented development projects, which is witnessing increasing demand from both tenants and investors.” said Abdullah Kamel, Alworoud CEO.
Alworoud is a Saudi company that develops, owns and manages institutional grade real estate assets across KSA. Through its subsidiary, Ajyal Alworoud, the company works to build and grow a diversified investment portfolio of high-quality real estate assets across the Kingdom with a focus on primary cities Madinah, Riyadh and Jeddah achieving sustainable returns and enhancing long-term value.
