Emaar Properties appoints Rikaz as Marketing representative in the Kingdom of Saudi Arabia

The agreement appointing Rikaz Development Company as the marketing representatives of EMAAR in Saudi Arabia was signed in Dubai by EMAAR Properties Chairman, Mr. Mohamed Alabbar and Sheikh Khalid Hassan Algahtani, President of Rikaz and Hassan A. K. Algahtani Sons Company (HAK Group of Companies). Rikaz Development Company is a subsidiary company of the HAK Group. Mr. Ayedh Farhan Al-Ghahtani, the Vice President and General Manager of Rikaz, was also present at the signing ceremony.

Commenting on the new agreement, Mr. Alabbar said: "Through this marketing representation arrangement with the Rikaz Development Company, EMAAR Properties is confident of attracting more entrepreneurs from Saudi Arabia to invest in our world-class residential development projects of EMAAR now underway in Dubai. Saudi Arabia is a key market for EMAAR and this agreement is an important step in our efforts to raise awareness and attract more Saudi investor interest in our projects".

Mr. Alabbar added: "We have already experienced significant interest from Saudi Arabian investors in our projects. This new agreement will build on that foundation to create wider understanding of our property portfolio and investment opportunities".

Rikaz Development Company, which was established in 1997, is involved in the purchase, promotion and investment of lands and commercial and residential buildings throughout the Kingdom of Saudi Arabia.

The company is well known for the development, construction and marketing of some of the biggest property development projects in Saudi Arabia including the Rikaz Industrial City and Amwaj resort project in Tala Beach Resort on the Arabian Gulf coast. They have also developed Al-Khobar and Al-Fanar District. Rikaz is also carrying out its activities in GCC countries, Egypt, Lebanon, the United Kingdom and the United States.

Sheikh Khalid Hassan Alghatani, President of HAK Group gave the following statement at the signature ceremony: "EMAAR is recognised in the region for the superb master planned communities it is developing. We are pleased to be able to use our significant marketing expertise in the Kingdom to effectively promote and sell EMAAR properties".

EMAAR Properties, a leader in the Middle East property development sector, is currently developing five world-class projects in Dubai as part of its strategic plan to contribute to the development of Dubai and the national economy of the U. A. E. The five projects are Dubai Marina, The Lakes, Emirates Hills, Gold and Diamond Park and the "Old Dubai" heritage development programme.

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