DUBAI, 7 May 2007 — Prominent Saudi businessman Prince Khalid bin Alwaleed and the Dubai-based KM Properties (KM) have announced a newly completed joint venture under the name of KMPK Properties with offices operating in Riyadh, Dammam and Jeddah.
The new company is expected to offer Saudi women to take part in all levels of the new company’s corporate ladder, sources said yesterday.
Prince Khalid, chairman of the new development company, noted the company’s strong commitment to take part in the implementation of the vision of Custodian of The Two Holy Mosques King Abdullah’s efforts to bring more Saudis, especially women, to the economic forefront and to create more investment opportunities in Saudi Arabia.
“To bring more women to the economic forefront is not an easy exercise but we will showcase a good business model of how to encourage women in private sector companies like KMPK Properties where they play roles at all levels of the corporate ladder, this gesture will in turn encourage and guide other companies to utilize the talents of women in a wider context. Such a business model is of particular significance in a society where conservatism in the work force and traditional inhibitions largely exists,” Prince Khalid stated.
Khulood Al-Rostamani, co-founder & group director of KM Holding, said: “KMPK Properties is expected to play a major role in attracting the investments and capital of Saudi businesswomen. Also, a whole section that is exclusive for women has been established for this purpose. We have trained a group of Saudi women who are interested in joining the work force.”
“In addition, some of the concepts developed in the projects would cater to women as a target segment and will be built around businesswomen’s needs.”
“KMPK Properties’ knowledge of the Saudi market, backed by a experienced team of professionals, technical know-how and solid experience in investment products structuring, will surely provide our would-be investors with the investment vehicle they require. I urge local and international investors to invest in Saudi Arabia through KMPK Properties, where we will be delighted to take any investor through our wide selection of real estate low-risk projects, investment returns, legality and the full life cycle of the investment” Prince Khalid added.
“KMPK Properties is eager to give back to the community at large,” he added. An entry of this scale is expected to create a substantial number of jobs in the Saudi market.
KM Properties, a subsidiary of KM Holding, is a full-fledged real estate developer.
KM Properties owns number of projects in the UAE valued at AED4.3 billion, which covers modern offices and residential towers, retail areas, healthcare clinics and luxury hotels.