Masaken Real Estate Development Company was launched in 2022 to begin implementing its modern real estate development projects and programs, in line with the Kingdom’s Vision 2030. This was announced by its Chairman of the Board, Mr. Bandar bin Abdullah Al-Owaimer, during a press conference. He emphasized the importance of real estate development, considering it one of the most important investments in the region.
He pointed out that the development witnessed in Riyadh and other regions of the Kingdom has made them an attractive environment for investments and specialized international companies. This prompted Masaken Real Estate Development to carefully and decisively launch its projects, encompassing residential, commercial, and developmental projects in both Riyadh and Medina.
Masaken Real Estate Development’s vision is based on strengthening its leadership in the Saudi market by developing and providing innovative and effective solutions. This includes offering economical solutions and durable, diverse products that align with all construction purposes, whether in industrial, commercial, or residential projects, using modern methods and contemporary global planning.
Al-Owaimer added that they will soon begin Masaken Real Estate Development’s first project in Medina, which consists of freehold apartments built to the latest international standards. He pointed out that they are also preparing to implement projects in the coming period and early next year, 2023, in Riyadh and Medina, with a value exceeding 400 million riyals.
He added that real estate helps achieve the goals of Vision 2030, contributing to the aspirations of the wise leadership in diversifying income sources and maximizing the real estate sector’s contribution to the GDP. He praised the integration between the Ministry of Municipal and Rural Affairs and Housing, several government agencies, and the General Authority for Real Estate to develop, regulate, and improve the sector’s performance.
For his part, Mr. Saeed Mubarak Al-Shehri, Board Member and CEO of Masaken Development Company, said that the company was established to launch with a new vision and create exclusive real estate to provide a decent life for families. He emphasized their commitment to combining quality, innovation, and development in their real estate products, which they strive to deliver meticulously and thoughtfully to serve the residential and commercial real estate sectors, in accordance with the latest products and modern real estate aspirations.
He noted that the current trend in real estate investment is towards owning apartments with unconventional, international specifications, indicating that this is the current trend in investing in various regions of Saudi Arabia, which is considered the first choice for investment.
