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Ahl Al Bayt Real Estate Investment Company (AHP) has announced the completion of an acquisition deal worth more than one billion Saudi riyals, under which it acquired a royal stake in the Al-Shubaili Grand Mall project in Al-Khobar, one of the most prominent commercial and entertainment projects in the Eastern Province, in conjunction with the launch of the pilot opening of the complex, which is the largest of its kind in the region.
It is noteworthy that this transaction comes within the framework of Ahl Al Bayt’s strategy to enhance its investment portfolio and expand the real estate and commercial sectors by investing in quality projects with promising economic components, reflecting its confidence in the investment opportunities offered by the commercial sector in the Kingdom, especially in the Eastern Province, which is witnessing rapid growth in commercial and recreational projects and destinations.
The acquisition represents a significant investment step that reflects the attractiveness of major business projects in the Kingdom and strengthens the position of “Shubaili Grand Mall”
The company retains the other share of the project, under the new ownership structure, in addition to taking responsibility for the operation and management of the “Shubaili Grand Mall”, to ensure the continuity of the management of the project, and the development of its commercial and recreational experience, according to “Saudi News”.
The acquisition is also a significant investment step that reflects the attractiveness of major commercial projects in the Kingdom, and strengthens the position of Al Shubaili Grand Mall as one of the most promising investment and commercial destinations in the Eastern Province, in line with the objectives of Saudi Vision 2030 in developing investments and enhancing the contribution of the private sector to the national economy.
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