LP.com

Hassana Investment Company, affiliated with the General Organization for Social Insurance (GOSI) of Saudi Arabia, manages assets exceeding SAR 1.2 trillion (approximately USD 320 billion). As GOSI's investment management arm, Hassana brings extensive experience and substantial capabilities in managing and investing in various assets. This partnership with Kinan underscores Hassana's ambition and execution prowess in real estate development.

Kinan International Real Estate Development Company specializes in real estate development and management, with a successful track record in Saudi Arabia and other regions. Kinan is dedicated to providing high-quality residential and commercial spaces through innovative design and superior construction. The collaboration with Hassana is part of its strategic expansion, aiming to solidify its market position through high-standard project developments.

The expansive project in the Al Rimal district is slated to include 9,000 residential units and 222,000 square meters of retail and office space. According to Hassana's press statement, the development will also feature educational, medical, entertainment areas, and other essential facilities to meet the diverse needs of future residents and commercial users. This project is envisioned not just as a residential area but as a self-sustaining community where residents can work, live, study, and enjoy leisure activities.

Internet

This comprehensive project not only showcases the strength and determination of Hassana and Kinan in the real estate development sector but also highlights Riyadh's potential as Saudi Arabia's economic hub for attracting large-scale investment projects. As the capital and largest city of Saudi Arabia, Riyadh serves as the political, economic, and cultural center of the nation. In recent years, accelerated urbanization and economic development in Riyadh have increased the demand for high-quality residential and commercial spaces amid the Saudi government's push for Vision 2030.

The development of this project will bring substantial residential and commercial resources to Riyadh, meeting the growing urbanization demands and providing residents with a high-quality living and working environment. The inclusion of educational, medical, and entertainment facilities will transform this community into a modern hub that caters comprehensively to residents' needs. Upon completion, this project is expected to deliver significant economic and social benefits to Riyadh, driving local urban development and economic growth.

This collaboration further demonstrates Saudi Arabia's proactive efforts in achieving the goals of Vision 2030. Vision 2030 is the Saudi government's economic and social reform plan aimed at enhancing the country's overall competitiveness through economic diversification and societal modernization. As part of Vision 2030, the Saudi government actively seeks international and local investments to facilitate the implementation of various large-scale projects. The Al Rimal project exemplifies this policy's concrete manifestation.

Through this collaboration, Hassana and Kinan not only showcase their formidable capabilities in the real estate development sector but also set a precedent for other potential investors, highlighting the immense potential of investing in Saudi Arabia's real estate market. Looking ahead, with the initiation and completion of more similar projects, Riyadh and the entire Saudi Arabian real estate market are poised to enter a more prosperous phase of development.