assaudia real estate development appoints al khabeer financial consultants to the pearl of the red sea project
- The first mega-project in the South Corniche area directly on the Red Sea.
Assaudia Real Estate Development, a wholly owned subsidiary of the Omar K. Al-Esayi Group (OKAG), has appointed Al Khabeer Financial Consultants to provide financial advisory for the transaction and placement of the Pearl of the Red Sea project, developed by Assaudia, directly on the Red Sea coast. The first mega-project of its kind in the South Corniche area, the Pearl of the Red Sea project will be a mixed-use development spread over an area of 1 million sqm featuring residential, leisure and entertainment components, the Pearl project will drive tourism to the South Corniche of Jeddah, and create a robust environment for future investments in the area.
Motasem Hajaj, General Manager of Assaudia Real Estate Development, stated that: “The Pearl project is considered the first of its kind world class, tourism-focused master-planned neighbourhood in the region. With this target in mind, we feel that AlKabeer, a leading investment banking firm, is the perfect partner to assist in the placement of the project due to their experience in real estate financing and their dedication to achieve and surpass their goals and objectives”
Amar Shata, Managing Director, Al Khabeer Financial Consultants, commented that: “The Pearl of the Red Sea is a unique project with unlimited investment potential and exceptional appeal and marketability. We feel privileged to be providing our financial consultancy services and expertise, through our Shari’a-approved and ratified principles and structures, on a project of this magnitude and impact on the area”
Assaudia Real Estate Development is committed to accomplishing its mission of creating sustainable real estate projects in Saudi Arabia, and Jeddah specifically. With a proven track record of developments that include the Buyut Alsharq and Almanar, and the upcoming Alesayi Office Tower, Assaudia is dedicated to providing the best one stop real estate solutions that reflect Saudi needs and values.
