BATIC Real Estate Company, has signed an agreement to develop the land it owns at Madinah Province with ALMQR Development Company Sponsored by HRH Prince Faisal bin Salman bin Abdulaziz, Al Saud Prince of Madinah Province

Under the generous patronage of His Royal Highness Prince Faisal bin Salman bin Abdulaziz Al Saud, Governor of Madinah Province, a partnership agreement was signed yesterday, Wednesday 30 Dhul Qi’dah 1443 AH corresponding to June 29, 2022 AD, in the presence of His Excellency Mayor of Madinah Province, Eng. Fahd bin Muhammad Al Bulahishi, 18 months from the date of signing, in order to develop the Al-Khuzama neighborhood scheme project in Madinah, which is owned by Batic Real Estate Company. In representation of ALMQR Development Company (the investment arm of Madinah Municipality), its CEO Mr. Majid bin Muhammad Al-Shalhoub, while Batic Real Estate Company (Wholly owned subsidiary of Batic Investments and Logistics Company) was represented by its Managing Director, Engineer Mohammed bin Saud Al-Zamil, and the signing ceremony was attended by the CEO of Batic Real Estate Company, Mr. Mohammed bin Saleh Al-Mazyad.

It is worth mentioning that Batic Real Estate Company is 100% owned by Batic Investments and Logistics Company, which is the real estate arm of the group. The size of the real estate investment portfolio managed by the real estate company is nearly half a billion Saudi riyals after the development of this project, and it also holds a real estate developer qualification certificate from the Ministry of Municipal and Rural Affairs and Housing.

This project is considered the first project of Batic Real Estate Company in Madinah, which is located on an area of 229,000 square meters within the boundaries of the Prophet’s Mosque, through which the company seeks to provide a model neighborhood with the latest services, facilities and advanced solutions within the scope of smart cities. This project is also the latest among qualitative projects at the level of the province in order to achieve development and humanization of the city and enhance the quality of life for residents and visitors in Al Madinah Al Munawwarah and in line with the plans and directions of the Municipality of the province and in line with the objectives of the Kingdom’s vision 2030.

Noting that there are related parties, the Chairman of the Board of Directors of Batic Investments and Logistics Company, Mr. Ahmed bin Mohammed Al-Sanie, as he also holds the position of Vice Chairman of the Board of Directors of ALMQR Development Company.

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