Seef Properties signs MoU with Saudi-Based AWJ Real Estate

TDT | Manama

Email : editor@newsofbahrain.com

Seef Properties, one of the leading real estate development companies in the Kingdom of Bahrain, has announced the signing of a Memorandum of Understanding (MoU) with Saudi Arabia’s AWJ Real Estate to jointly develop a mixed-use project in Riyadh.

The project will be located within the Al Rabwa development in Riyadh, one of AWJ Real Estate’s flagship projects in the Saudi capital. Spanning approximately 160,540 square meters, the project is envisioned as an integrated urban destination. It will feature family entertainment centers, restaurants and cafés, office spaces, and residential units — all developed according to the highest standards of sustainable urban planning.

Under the MoU, Seef Properties will assume the role of developer and strategic partner, while both companies will collaborate on the framework for planning, designing, and executing the project, paving the way for a long-term strategic partnership.

On this occasion, Mr. Ahmed Yusuf, CEO of Seef Properties, stated: “The Saudi market presents substantial opportunities with its continued growth and dynamic landscape, making it a promising environment for value-added real estate developments.

This agreement marks a pivotal step in our regional expansion strategy. We are committed to delivering a distinguished project that leverages our proven track record in developing and managing commercial and entertainment destinations, aligns with the evolving needs of the Saudi market, and contributes to Riyadh’s urban development.” Mr. Abdulaziz Al Mosa, CEO of AWJ Holding, added: “The project is situated within Al Rabwa, a development that has already delivered over 3,000 residential units in earlier phases through partnerships with prominent Saudi developers. The upcoming phases are set to deliver more than 7,000 additional and diverse residential units.”