KM Properties sets up Saudi expansion plans

Dubai-based KM Properties, the real estate arm of Knowledge Management Group (KMG), has announced a major Middle East expansion with new offices in three Saudi cities - Dammam, Riyadh and Jeddah.

Dubai-based KM Properties, the real estate arm of Knowledge Management Group (KMG), has announced a major Middle East expansion with new offices in three Saudi cities - Dammam, Riyadh and Jeddah.

The company is backed by a US $1.36 billion (SR5 billion) fund that will be dedicated solely to property development in Saudi Arabia.

"There is a booming real estate market in Saudi Arabia," said Khalil Haddad, managing director of the company's Saudi operations.

 

"KM Properties is excited at the prospect of entering such a dynamic market, and we are also eager to give back to the community at large."

The company also plans to establish joint ventures with developers in the kingdom to execute its projects.

"When our clients invest in us, they do so with the assurance that they are buying into trust as much as the project itself," added Haddad.

"That's because we want the best for our investors. Everything from our designers to our construction company is chosen with our consumers in mind, and they are well aware of this."

KM Properties has worked on several projects in the UAE including The Park Lane development in Dubai's Business Bay.

It also recently launched the El Matador tower, one of the few residential developments in Dubai to feature loft apartments and terrace villas.

The company has worked on these projects in partnership with construction firm, Al Rostamani Pegel.

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