Alramz Real Estate to commence book-building process for IPO on Nov. 22

Logo of Alramz Real Estate Co.

Alramz Real Estate Co. (Alramz) will launch on Nov. 22 its IPO book-building process for qualified investors (non-individuals) ahead of listing of 3.33 million shares on Nomu-Parallel Market. The book-building process will run for eight business days, until Dec. 1.

Alramz is embarking on the next phase of growth, Chairman Rasheed Abdulrahman Al Rasheed said, highlighting the company’s established track-record.

The IPO is part of this phase and the offering of the company’s shares for the public will support its growth strategy. The IPO proceeds will provide Alramz with the financial capability to grow its project portfolio by investing the funds in existing projects as well as increase its land bank for future projects.

Rasheed mentioned that with these attractive fundamentals of the real estate market, Alramz is uniquely positioned with its strong business model focused on customer satisfaction, in-house project development capability and construction management skills strongly supported by a robust corporate governance framework.

Alramz was established in 2016 and has acquired an outstanding track-record with 19+ projects. It has a highly capable in-house project development team and construction processes that lead to a high degree of efficiency (most projects are completed within an average time of 14 months.

Alramz has developed a reputation amongst customers for delivering modern, aesthetically appealing communities equipped with smart technology. As a result, its revenue grew by 16 times since 2019. It also has a sizeable land bank and units under construction, which will fuel its performance in the coming period.

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