The Al Jadd Investment Conference, which was held on 22 October in Saudi Arabia witnessed a number of investment agreements being signed. Al Jadd Development and Real Estate Company signed an agreement with Itqan Capital, a financial investment company headquartered in Saudi Arabia and operating under a licence from the Capital Market Authority.
A member of Baraka Banking group, Itqan Capital is one of the largest banking companies globally, with units spread across 17 countries. The agreement is for the purpose of establishing a fund with an initial capital of SAR400 million to be allocated to finance and establish unique real estate projects using the latest engineering and architectural technologies.
Al Jadd also signed another agreement with EDGE, which specialises in engineering and architectural designs, and is participating in the implementation of the NEOM gigaproject’s THE LINE, and King Abdullah Economic City. It is also known for designing the Rafal Tower in Riyadh.
Under the terms of the contract, EDGE will manage the tasks and responsibilities of implementing the engineering and architectural designs for Al Jadd that are currently under implementation as well as projects in the future.
Al Jadd signed a third contract with York Air Conditioning Company, under which each customer buying a housing unit Al Jadd will benefit from a 20% discount of the value of their purchase for air conditioners.
Al Jadd also signed a contract with DAT Architects and Engineers, which stipulates that DAT will provide services and engineering consultancy required by Al Jadd.
DAT specialised in engineering consultancy work based in the UAE, and it is ranked among the best companies in the Middle East and globally, providing solutions for innovative and diversified engineering designs while ensuring efficient operations and achieving promising results.
It has implemented and supervised the engineering designs for a number of projects and major commercial malls implemented in Dubai, Abu Dhabi and the kingdom.
Meanwhile, Al Jadd Gulf Investments has concluded a contract with Blue Coast Consultants, a British company specialised in the field of financial advisory, and real estate research.
Al Jadd Development and Rea Estate Investment has also contracted IKEA Saudi Arabia to provide services at purchased homes, including the completion of interior design for free for Jadd card holders and a gift of SAR7,000, in addition to the free delivery of furniture within the city and a 50% discount on furniture installation costs.
Al Jadd Gulf Investment Company also signed an agreement with Azizi Developments, which is a UAE-based company with an estimated project value of $7 billion. Al Jadd Gulf Investments also signed an MoU with Asas Makin Real Estate Development and Investment Company to seize investment opportunities in residential units. Al Jad Gulf Investment now owns an investment fund dedicated to speculative business.
The conference was held at the Hilton Hotel in Jeddah and witnessed the presence of a large number of companies, investors and businessmen. Participants at the conference also discussed investment opportunities in the kingdom, promoting sustainable development international relations, as well as a range of notable services.
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