This has been Tanmiyat’s year of extraordinary growth. The Saudi-based real estate firm, headed by the strong and visionary leadership of Sheikh Suleiman Bin Abdul Aziz Al Majed, has 33 ground-breaking projects underway across the Gulf including 24 projects in the Kingdom of Saudi Arabia, six in the UAE, two in Lebanon and one in Turkey.
Established less than three decades ago, Tanmiyat’s prominence in the regional real estate arena has grown exponentially, with the development of its investment programmes and successful launches of massive projects.
Now one of the biggest names in real estate development in the Middle East, the group has established joint ventures and projects across the wider region, covering predominantly Saudi Arabia, and venturing out to Sudan.
Al Majed’s biggest challenge so far however, will be to deliver one of Saudi’s most ambitious projects to date, the Prince Abdul Aziz bin Mousaed Economic City. Located in the city of Hail in the midst of Al Jawf, Saudi’s Northern Region, and strategically situated on the crossroads of every navigational, trade and transportation route in the Middle East, Hail was the logical choice for Prince Abdul Aziz Bin Mousaed Economic City.
The importance of this project is enormous. Serving as a link between East and West the city will take up 156 million sq m of land at a cost of US$8bn over the next 10 years, every cent of which will be funded by the private sector.
The project was the second economic city of its kind launched by HRH King Abdullah in seven months (the first being the King Abdullah Economic City launched in Rabigh, in December 2005). There will be four in total, placing the Kingdom at the forefront of mega projects in the region as well as at the heart of business, trade, energy and transportation in the Middle East.
The project is a realisation of the vision of the Custodian of the Two Holy Mosques and HRH Crown Prince Sultan, to develop the various regions of the country. Hail’s strategic location in the Kingdom’s north at the junction of nautical, transportation and supportive service paths, and the fact that it is only one hour by plane from 11 Arab capitals, have made it a prime location to host the Prince Abdul Aziz bin Mousaed Economic City.
“As a progressive and internationally-savvy organisation, Tanmiyat has endeavoured to not get caught up in the path of trade-winds of the time and deliver projects that ultimately suffer from the banality of mediocrity,” says Al Majed. “We have always tried to steer clear of ‘identikit’ developments and enhance the value to our products by making them distinctive and a break from the norm,” he added.
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