Thimarya Real Estate Company concluded a strategic agreement with Asas Makeen Company, to study the opportunity to acquire an area of 700 thousand square meters, in Al Maha City project in Riyadh, at a value of 950 million riyals. This agreement was for the purpose of developing about 6,500 residential units included in the project.
Al Maha City is one of the largest real estate projects in the Kingdom. It includes about 25,000 residential units, and is located 20 minutes from the center of the capital, Riyadh. The project includes a 4.5-kilometre-long avenue that contains hospitals and commercial facilities, in addition to providing spaces for schools, playgrounds, green spaces, and gardens. It makes it an integrated residential complex
Asas Makeen Company is considered one of the most important leading companies in the field of real estate in the Kingdom of Saudi Arabia, and the agreement aims to study a unique residential experience.
The CEO of Thimarya Real Estate, Mr. Abdulmajeed Al-grewi, also expressed that this project represents a great opportunity to enhance development and provide a distinctive and self-contained residential community.
For his part, Chairman of the Board of Directors of Asas Maken, A. Abdulrahman Al-Hadlaq, expressed his confidence in the future of the project and said: “This cooperation combines experience and excellence in the field of real estate, we expect that the Al Maha project will be a valuable addition to western Riyadh.”
