Real Estate Future Forum sees signing of agreements worth up to SAR 10 bln

The Real Estate Future Forum, which kicked off today, Jan. 23, in Riyadh, witnessed the signing of a number of agreements worth up to SAR 10 billion.

This included a memorandum of cooperation between the Ministry of Municipal and Rural Affairs and Housing, the Ministry of Investment and Europass. Further, National Housing Co. (NHC) and Saudi Downtown Co. sealed a deal to build a strategic bilateral relationship that promotes a culture of sustainability and exemplary collaboration to build residential communities.

Meanwhile, an agreement was concluded between Retal Urban Development Co. and Blominvest to establish four real estate funds to develop commercial, tourism and residential projects. Another one was signed between Saudi Real Estate Co. (SRC) and Al Tahaluf Real Estate Co. to develop 250 housing units over a total area of 94,000 square meters (sqm).

The deals also entailed Raven Property Group and Blominvest’s joint establishment of “Norville Real Estate Fund”, in partnership with Al Aseel United.