Riyadh - Midrar is the fourth fastest growing company in Saudi Arabia in 2010, according to a list released by the Saudi General Investment Authority (SAGIA) at the Competitiveness Forum currently taking place in Riyadh.
SAGIA's elite list includes the top 100 small and mid-sized companies in Saudi Arabia which achieved a growth rate of at least 40 percent in one year.
On this occasion, Dr. Rihab Riza, Chairman of Midrar expressed delighted in being included in the highly coveted list, which recognized the company's strategies and achievements since its inception.
He further said: "We thank the Saudi Arabian General Investment Authority for this initiative, which provides the right business environment for small and mid-sized national companies to grow and to encourage them to aspire for excellence."
Since it started conducting a survey of the fastest growing companies in Saudi Arabia, SAGIA's list has become a respected benchmark for business classification in the country and has become a great motivation for Saudi companies to compete fairly and aspire for success.
He added: "Since its establishment, Midrar has committed to work in line with international quality standards, and to employ local and international experts in the area of real estate development in order to provide highest levels of services that meets the aspiration and needs of its clients."
"Midrar Company" is a limited liability company works in the area of real estate development and projects management. It was established in 2007 to meet the growing demand for development and management services in real estate market. In view of its expertise in engineering, administration and finance, Midrar has carried out management and development of a number of real estate projects all over the kingdom.
The company also provides various services such as marketing, sales and transportation studies. Currently Midrar manages and develops a number of large and distinctive real estate projects, including "The Headquarters Business Park" located on Jeddah north corniche, King Abdul Aziz Endowment 2 in Makkah, and King Fahd Specialist Hospital in Dammam.
The portfolio of Midrar is diversified and has numerous projects totaling more than SR. 10 billion, and an area exceeding 2.4 million square meters in various sectors including: high-rise and multi-use buildings / urban planning / medical real estate development / transportation studies.
Organizers of Competitiveness Forum say the selection of the top 100 fastest growing companies in Saudi Arabia for this year was based on the companies' ability to meet the challenges of economy, and to provide opportunities that will empower businessmen and businesswomen in Saudi Arabia.
They further point out that the list of the top 100 fastest growing companies for 2010 reflects a new approach to do business in Saudi Arabia, and stresses on the capability of success of small and mid-sized projects which are run by creative and open minds. It also emphasizes the ability to overcome the financial crises currently being faced many companies worldwide.
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© Press Release 2010
