"Steak" is launched with 'Tharwat' its first funds for real estate development in Saudi Arabia

Steak, the digital platform specializing in real estate investment in the Middle East and North Africa, has announced the launch of a new and private real estate development fund in Saudi Arabia, which offers an investment opportunity in the Riyadh property. The new fund offered by the Saudi Steak ‘application is a new station in the platform march to provide real estate investment opportunities and are compatible with Islamic legislation for local and international investors. This launch comes in partnership with Thawatus Securities Company as fund manager, a paving for investment as a developer, and the Mawan property company as a project manager, according to a statement issued by the company. The project is located in the Al -Mulqa neighborhood, north of the Saudi capital, one of the modern neighborhoods opposite Bolivard Riyadh, and contains a hotel, hotel apartments, commercial offices and retail spaces. The site is close to the proximity of the most important areas of the city, such as the administration of embassies and King Saud University. The fund contributes to supporting the goals of the “Kingdom’s Vision 2030” by improving the hotel, residential and commercial infrastructure, and to meet the increasing demand of the tourism and business sector. According to the statement, the area built for the project is about 60 thousand square meters. Hanouf Bin Saeed, the general manager of the Saudi steak platform, believes that the new fund is not only a project, but rather a gateway to the future of Riyadh, in the heart of a strategic area that has accelerated witnesses. “Note that the project” has an exceptional location that guarantees promising investment opportunities. With the support of one of the most powerful developers in the region. ” Steak is unique to this day, as it is the only platform licensed by the CMA (CMA) that does not enable residents investors to own directly in the Saudi property market. This new event provides smooth access to institutional real estate investments that are compatible with Islamic legislation, from 500 Riyals (136 dollars), as well as the support of the most prominent investors such as “Aramco”, Mubadala Investment Company, Al -Jumaih Holding Group, and Initiative Partners in the Midst.