Ajdan, Mask Investment, and SEDCO Capital Forge Alliance for 'Grand Square' Project
Ajdan Real Estate Development Company, Mask Investment Company, and SEDCO Capital have joined forces to establish a pioneering real estate investment fund.
The announcement was made during the prestigious Real Estate Restatex Exhibition held in Riyadh from February 18 to February 21, 2024.
This collaboration aims to drive forward the ambitious "Grand Square" mixed-use project in Jeddah.
"Grand Square," set to occupy an expansive 47,060 square meter area along Jeddah's renowned King Abdulaziz Road, is poised to become a landmark destination in the region.
Represented by key figures including Abdulrahman Al Muhaidib from Ajdan, Hani Halwani from Mask Investment, and Abdulwahab Abed from SEDCO Capital, the agreement signifies a strategic partnership committed to setting new standards in real estate development.
Engineer Mohammed bin Abdulmohsen Al Otaibi, CEO of Ajdan, underscored the project's alignment with the Kingdom's ambitious Vision 2030.
He emphasized its potential to revolutionize urban design and elevate the quality of life through its diverse offerings, encompassing commercial, residential, office, and hospitality spaces.
Hani Halwani, CEO of Mask Investment, highlighted the strategic significance of the project, emphasizing its capacity to stimulate economic growth and enhance tourism across the Kingdom.
He commended the collaborative spirit driving the endeavor, underscoring a shared dedication to delivering real estate projects of exceptional quality, design, and sustainability.
Abdulwahab Abed, CEO of Investment at SEDCO Capital, emphasized the momentum within Saudi Arabia's dynamic real estate sector, particularly in light of Vision 2030's objectives.
He emphasized the strategic positioning of "Grand Square" and its potential to offer stable, sustainable returns for both tenants and investors.
Abed reaffirmed SEDCO Capital's commitment to selective, Sharia-compliant real estate investments and expressed enthusiasm for the partnership with Ajdan and Mask Investment, renowned entities with a proven track record in executing landmark projects.
Source: Saudi Gazette
