Sultan AlMusallam, NRI’s Head of Planning and Development, pointed out that the Company intends to launch the public offering of “Memar Development and Investment Company” in the parallel market “Nomu” during the third quarter of 2017. AlMusallam also mentioned that the Company has appointed “Alistithmar Capital” to be the financial advisor for the offering.
According to the data shown on “Argaam”, Naif Alrajhi Investment Company invests in real estate, capital markets, partnerships and acquisitions with diversified investments in more than 30 companies in 11 different sectors. The Company’s head office is located in Riyadh with branches in Dubai and London.
Meanwhile, “Memar Development and Investment Company” was incorporated in 2007 with main business in the real estate development and investment. The company manages real estate assets of more than 600 million riyals and investments in new projects worth about 500 million riyals. In addition, the Company contributes to establishment of investment funds, such as Investor Real Estate Fund for Multiple Projects.