Thimarya Real Estate Company has signed a strategic agreement with Asas Makeen Company to explore the opportunity of acquiring a land area of 700,000 square meters within the Al-Maha City project in Riyadh, with an estimated value of SAR 950 million. The agreement aims to develop approximately 6,500 residential units as part of the project.
What is Asas Makeen Company?
Asas Makeen is a leading Saudi real estate development company with a modern vision focused on delivering fully integrated urban projects that align with community aspirations and the Saudi Vision 2030. The company emphasizes building high-quality urban communities based on sustainability standards and prioritizes meeting customer needs through innovative designs and reliable after-sales services. Asas Makeen is distinguished by its experience in managing and developing various types of real estate projects, reflecting a strong commitment to professionalism, innovation, and credibility at every stage of its work.
Why Did Asas Makeen Choose Thimarya Real Estate?
The selection of Thimarya Real Estate as a strategic partner by Asas Makeen was no coincidence. It was based on Thimarya’s proven record of professionalism and achievement. The company has deep insight into the Saudi real estate market and the ability to transform visions into practical, customer-driven projects that support the objectives of Vision 2030.
What sets Thimarya apart is its commitment to high standards across all areas — from detailed feasibility studies and professional marketing to highly efficient customer and investor relations management. Thanks to its extensive network and accumulated expertise, Thimarya delivers comprehensive real estate solutions that ensure value and impact in every project it leads.
Details of the Asas Makeen – Thimarya Agreement
During their joint participation at Cityscape Global — one of the region’s most prominent real estate exhibitions — Thimarya Real Estate and Asas Makeen signed a strategic partnership agreement, highlighting their mutual cooperation and shared vision.
Agreement Highlights:
- The agreement aims to strengthen collaboration in developing high-quality real estate projects that serve the Saudi market and align with Vision 2030.
- Thimarya will leverage its expertise in urban innovation and modern community development to lead planning and marketing efforts.
- Asas Makeen, with its solid track record in project execution, will oversee implementation and provide engineering and technical solutions.
This collaboration sets the foundation for an integrated business model that combines strong execution capabilities with marketing expertise, enhancing project quality and enriching the end-user experience.
Tangible Benefits of the Partnership
- Expanding project portfolios and geographical coverage.
- Leveraging the partner’s expertise in specific real estate domains.
- Enhancing real estate development with innovative technologies and international standards.
Thimarya’s CEO, Mr. Abdulmajeed Al-Jurawe, emphasized that this project represents a major opportunity to boost development and deliver a unique, self-sustained residential community.
In turn, Mr. Abdulrahman Al-Hedlaq, Chairman of Asas Makeen, expressed his confidence in the project’s future, stating:
“This partnership brings together excellence and expertise in real estate. We expect the Al-Maha Project to be a valuable addition to West Riyadh.”
About Al-Maha City – The Focus of the Collaboration
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 About Al-Maha City – The Focus of the Collaboration
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
A Unique Living Experience
As one of Saudi Arabia’s most prominent real estate developers, Asas Makeen aims, through this agreement, to explore a distinctive and innovative residential experience.
Thimarya Real Estate affirms that this agreement is a strategic step toward expanding its presence in the Saudi real estate landscape and building partnerships with high-value entities. It also reflects the company’s commitment to forming effective alliances that contribute to the development of modern urban communities and provide investment solutions aligned with Vision 2030.
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