JEDDAH, 17 May 2007 — Saudi businessman Prince Khalid bin Alwaleed and KM Properties announced their newly completed joint venture under the name of KMPK Properties with offices operating in Riyadh, Dammam and Jeddah.
KM Properties, a subsidiary of Dubai-based KM Holding is a full-fledged real estate developer. KM Properties owns large number of properties in the UAE valued at SR4.3 billion, which covers modern offices and residential towers, retail areas, health care clinics and luxury hotels. All these projects are of exceptional quality, value and are designed by world-renowned architects and leading designers in the likes of Carlos Ott and Terry Farrrell.
Khalid, chairman of the new development company, highlighted the significance of the newly established KMPK Properties, saying that he is strongly committed 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 companies, like KMPK Properties where they play roles in all levels of the corporate ladder. This gesture will in turn encourage and guide other companies to utilize women talents in a wider context. Such business model is of particular significance in a society where conservatism in the work force and traditional inhibitions largely exist,” he added.
Khalid added that “KMPK Properties’ knowledge of the Saudi market, backed by 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.”
Furthermore, he said “KMPK Properties is eager to give back to the community at large.” An entry of this scale is expected to create a substantial number of jobs in the Saudi market, while adding a boost to the economy.
Dr. Mohamed Haddad, chairman of KM Holding and vice chairman/CEO of the new company KMPK Properties, talked about the various real estate projects that will be developed by KMPK Properties using their “Six Value Benefits” character which includes: hotel facilities services, prime locations, good accessibility, luxury design, quality and delivery aspects.
KMPK Properties will enjoy the hotel management expertise of Tamani Hotels and Resorts, the hospitality arm of KM Holding, that has launched unique hospitality products and services which will be provided to all KMPK Properties with the qualities of five-star hotel international experience.
Haddad added that “one of the investment products KMPK Properties offers is equity investments, in which investment banks and private funds will invest directly into our high return, low-risk real estate development projects through winning formulas and smart strategies.”
“When our clients invest in KMPK Properties, they do it with the assurance that they are investing in the trust in our name as much as in the project itself. This trust makes us take responsibility in a professional manner, where at all times, before starting any project, we audit all our internal financials, market research and risk studies assisted by renowned international third parties on behalf of our investors at our own cost, because we desire the best for our investors.”
“Everything from project conceptualization to design stage to post-construction, including project handover is carefully planned keeping in mind our consumers’ interest at all times,” the official pointed out.