STAY AHEAD
STAY AHEAD

Interview with
Majd Al Hogail,
CEO of Rafal



Rafal Real Estate was formed in late 2007 by three leading Saudi business groups - Ibrahim A. Abunayyan & Bros. Company, the Arabian Company for Water and Power Development, Ltd. (ACWA Power) and the Arabian Tawazon for Commercial Investment Ltd. - with the vision to lead the market in quality real-estate development focusing on middle income mixed communities.
 

“Blncyah (Valencia), the first project of Rafal, has recently been completed, and 85% of its 144 housing units have been sold already as freehold properties, not a negligible achievement in a market where pre-sales (buying as yet unconstructed homes on the basis of plans and designs) is not yet an accepted practice,” explains Al Hogail, who was recently elected the kingdom's best executive director in the real estate sector for 2010, his award matching the one won by Rafal´s very first project, Valencia: the Best Residential Project for 2010.
 

“Blncya is the Arabic form of Valencia, a Spanish city founded by the Arabs. The name was chosen to match the Andalusian architectural style in which most of the community was built.” The community aspect is part of the core vision on the project. Rather than just constructing 144 villas, the company chose to build a gated community on the 85,946 square metre plot smack in the centre of Riyadh.
 

“We have created a quiet and private neighbourhood”, says Al Hogail. The development has its own 24/7 private security and offers six types of villas, each fitting 6 to 8 household members. Surrounded by 1200 metres of uninterrupted walkway amid beautiful landscaping, the community is linked with a fibre-optics network infrastructure designed to provide smart telecommunications technologies and value-added smart services (VASS) and to facilitate IPTV, state-of-the-art CCTV and wireless broadband.

This 250 million Saudi riyal project is just the first of several Rafal developments currently in various stages of design and construction. Construction has already started on he Burj Rafal Community, a mixed-use 62-story high-rise landmark on a 19,322-square metres plot on the King Fahd Highway in Riyadh. 'The project combines a Kempinski hotel and two spas, luxury serviced apartments plus freehold Manhattan style apartments, smart offices, a boulevard of boutique style retail outlets, restaurants, cafes, conference facilities and a ballroom for up to 2000 people. The $560 million project will be completed by December 2012.
 

Next up is the Al Rabiyah mixed-use project at the entrance of Riyadh's Diriyya district, a SR400 million residential development covering 120,000 square metres. Two more projects are in the pipeline for Riyadh, and for 2011 other projects are also planned in Jeddah and Dammam.
 

So far Rafal is the first in gated communities in the KSA, as there is as of yet no competition for them. In community projects in general, they have two competitors: Al Arkan and more recently Emaar.

Kuwait in Spain

Click in the image to read the full publication (Spanish)

Our latest investment report on Kuwait was recently published in one of the leading Spanish dailies, ABC.  FindMe in Kuwait explores the economic perspectives of Kuwait and the country´s future plans to compete with its fast developing neighbours. Once the leading country of the Gulf, Kuwait has remained silent for the past decade. And although many would like to see faster changes, Kuwait is moving, at its pace, to them. Inexorably. Learn about who is who in Kuwait and read what the leaders say about their own future in our upcoming release: FindMe in Kuwait Mobile app.

 

Stay tuned - Stay Ahead

GGC launches FMS and FMB mobile apps

Click in the image to download the app

GGC concludes FindMe in Bahrain

Click to download the guide

Global Gulf Consulting has concluded its latest production on Bahrain, FindMe in Bahrain giving the country a fresh approach after a couple of difficult years of local demonstrations that matched the global recession.  Bahrain is a small island in the Arabian Gulf with an incredible potential for logistics, industries and tourism. FindMe in Bahrain was supported by both the public and private sector of Bahrain.  Banagas, Nass Corporation, BBK and DHL were GGC strategic partners in the development of the series among others.  

FindMe in Bahrain is available at the local bookstores Jashamal and online as well as in the Apple Store. It is a full business leisure and business guide for any investor or visitor interested in traveling to Bahrain or for those that already live there.

 

New release: FindMe in Saudi 2013 Edition

FindMe in Saudi offers a multi-faceted overview combining business and leisure, economy and heritage. The book aims to capture the current development of Saudi Arabia in the words of the people who live and work there. It is an authoritative source of information for investors, businessmen and travellers produced to firmly position KSA as an attractive investment destination.

In contains general information about the country´ economic performance and who is who as a sectorial overview and a leisure guide.    

FindMe in Saudi 2013
FMS 2012 A4 v15 web.pdf
Documento Adobe Acrobat [45.4 MB]

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