Sunday 10 December 2023

Mohammed Alkhars

Innovest signs key collaboration deals

RIYADH, September 21, 2023

Innovest, a premier investment and development company focussed on creating unique lifestyle communities throughout Saudi Arabia, recently signed several strategic Memoranda of Understanding (MoUs) at Cityscape Global in Riyadh.

The agreements involve collaboration with key industry partners – including notable financial institutions, construction companies, global project developers, and real estate investment firms.

The MoUs align with the Saudi Vision 2030 principle of boosting the local real estate sector and serve to reaffirm Innovest’s commitment to homebuyers. Through the partnerships, homebuyers throughout the kingdom will also have the opportunity to benefit through the Sakani Programme’s ministry or housing initiatives.

Founded in 2017 by the Saudi Ministry of Housing the Real Estate Development Fund, the Sakani Programme aims to increase the homeowning population to 70% by 2030 by creating new residential units for ownership.

Mohammed Alkhars, Chairman at Innovest, said: “The establishment of the MOUs with the banks, construction firms, and real estate companies is a significant step forward in Innovest’s mission to equip, empower, and encourage homebuyers throughout the Kingdom.

“The signings lay the framework for an industry-wide support system designed to guide customers in their homebuying journey and will continue to shape the way in which the real estate sector approaches homebuying in line with the larger Saudi Vision 2030.”

The agreements at Cityscape Global follow Innovest’s recent launch of Jadan Communities, located in the Al Fursan neighbourhood. Jadan Communities offers an affordable, high-quality, residential community in line with the vision of creating residential units with a smart system that helps save energy and and high-end facilities and amenities. – TradeArabia News Service



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