Naif Alrajhi, NOREBA sign partnership agreement

The contract was signed by Sulaiman bin Saleh bin Sulaiman Alrajhi, NOREBA’s managing director in Morocco, and Naif bin Saleh Alabdulaziz Alrajhi, CEO of Naif Alrajhi Investment.
Updated 11 September 2018
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Naif Alrajhi, NOREBA sign partnership agreement

Real estate development company NOREBA, Morocco and Naif Alrajhi Investment have signed a partnership agreement that aims to develop projects worth over a billion Moroccan dirhams ($106.1 million).

The contract was signed by Sulaiman bin Saleh bin Sulaiman Alrajhi, NOREBA’s managing director in Morocco, and Naif bin Saleh Alabdulaziz Alrajhi, CEO of Naif Alrajhi Investment. 

Sulaiman Alrajhi said that the strategic partnership aims at developing and enriching the company’s business, and that it is the result of extended studies and experience within the real estate market in Morocco. “The agreement aims to develop more premium residential and commercial projects to be sold in the future, turning NOREBA into one of the most influential real estate companies in Morocco and North Africa,” he added.

Naif Alrajhi said: “Our partnership with the leading real estate development company in Morocco, NOREBA, has a great added value for our company and will be a gateway for us to enter the Moroccan markets that will be a starting point for more investments in North Africa, as it all falls within the framework of our strategic plan to diversify our investment range and to strengthen our presence in several markets and fields.”

Both parties have stated that the partnership will strengthen Saudi-Moroccan relations through business initiatives that serve the best interest of both the countries.


Jabal Omar Address Makkah opens sale of hotel units

The two towers of Jabal Omar Address Makkah are within walking distance from the Grand Mosque.
Updated 17 November 2018
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Jabal Omar Address Makkah opens sale of hotel units

Saudi real estate developer Jabal Omar Development Company has launched the sale of luxury hotel units in Jabal Omar Address Makkah, as part of its ongoing marketing campaigns across Saudi Arabia.

In a three-day exhibition in Alkhobar, the company offered customers and visitors promotions and soft-selling programs for the 741 units of Jabal Omar Address Makkah, diversified into hotel rooms, suites and penthouses, which are available for freehold ownership.

The two towers of Jabal Omar Address Makkah occupy a strategic location; they are within walking distance from the Grand Mosque and are operated by Address Hotels & Resorts Group.

Each of the two towers consists of 609 deluxe rooms, 131 suites, and a penthouse. The north tower is home to Jabal Omar Address Makkah hotel, while the south tower is a luxurious freehold property, allowing buyers to purchase as an investment or use while being managed by Jabal Omar Address Makkah. The towers sit on an area of over 5,000 square meters, including a commercial center area with shops that feature local, regional and international commercial and retail brands as well as food courts and restaurants.

The selection of Address Hotels & Resorts Group to manage the property is in line with the strategic objectives of Jabal Omar Development Company, which is to make the Jabal Omar project a destination for people from around the Islamic world.

“Jabal Omar Address will help meet the growing demand for luxury accommodations in Makkah by offering luxury hospitality services to guests and visitors of the holy city in accordance with the highest international standards,” the company said.

“The luxury residential units are facing an increasing demand, reflecting the keenness of customers to own and acquire these residential units that have direct views of the Grand Mosque.”