Retal Urban Development has signed a partnership agreement with Swicorp for Financial Investments, to launch a real estate fund worth nearly a quarter of a billion Saudi riyals, to develop the “Ewan Qayrawan” project. The official at Retal, which is affiliated with Al Fozan Group Holding, praised the agreement and its expected results, pointing out that it will enhance the work process in the “Ewan Qayrawan” project, which is located on an area of 64,000 square meters. The signing of the agreement came on the sidelines of the Sharqiya Real Estate and Housing Exhibition and Forum (Restatex 1 Sharqia).
Eng. Abdullah Faisal Al-Braikan, General Manager of Retal, explained that the company chose a distinguished location for the “Ewan Qayrawan” project, in the middle of the three most important cities in the Eastern Province, which are Dhahran, Al-Khobar and Dammam. He said: “The project’s strategic location has given the project several advantages, making it the most important modern residential neighborhood in the eastern region,” explaining that “the neighborhood provides its residents with ease of movement and access to the landmarks of the eastern region and its suburbs in the easiest way.”
He added, “The project consists of 164 villas, and allows the customer the freedom to choose between five models of residential units.” He said: “The details of the project were chosen with utmost care, after conducting field studies of the real estate market, taking into account the realization of the aspirations of customers in the life of the residence, in terms of complete calm, privacy, and a privileged location, in which all government and recreational services are available.”
Al-Braikan continued, “We established the “Ewan Qayrawan” project using the highest standards of urban development and the highest levels of quality, whether in engineering design, interior and exterior spaces, and the modern architectural style in the five models, which we were keen to be completely new and innovative, and far from traditional designs. in construction”.
Al-Braikan considered that the presence of a joint real estate fund with “Swicorp” is a huge step to accelerate the development of the ” Ewan Qayrawan” project. He said: “The project is one of our largest current projects, and we expect, in the coming period, to see positive results from the partnership agreement,” stressing that “the agreement will take into account, in the first place, the fulfillment of customers’ hopes and wishes to obtain a model housing that provides peace of mind for its residents.”
For his part, Daniel Schenker, CEO of “Swicorp Financial”, described the agreement with “Retal” as an important addition in the path of “Swicorp”. He said: “We are keen to choose our partnerships very carefully, and we also select projects that meet different customers’ tastes, and keep pace with the client’s immediate requirements, and we sensed all these specifications in the “Ewan Qayrawan” project, which we did not hesitate to develop, believing that it is in line with the client’s requirements. It respects high quality standards.”
