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Arab Moltaqa invests 37.9 million pounds in real estate and renewable enegry

Saudi Arabia - March 10, 2016
Arab Moltaqa

Arab Moltaqa Investments Company has announced activating a real estate investment portfolio by purchasing office spaces in the new office building being established in Smart Village which is owned by Union Investments, its subsidiary. The investment value will reach 32.3 million pounds.

Khaled Abu-Hef, the company’s executive chairman, mentioned that the spaces will be divided into units of different sizes to rent to others. He mentioned also the company will offer various services for tenants. This comes in line of the rising demand on office spaces of small or medium sizes.

Abu-Hef mentioned that the Moltaqa is establishing a new company for producing renewable energy and organic fertilizers with a capital of 8 million pounds.

He said also that Moltaqa (AMIC) share in the new company is 70%. The new company is expected to be launched by the second half of this year just after getting the needed permissions from the different governmental authorities and agencies.

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