|02 May, 2019

Raza launches property platform; to become largest community landlord in Saudi Arabia

Al Ra'idah Investment Company (RIC), announced today the launch of operations in Saudi Arabia the biggest real estate market in the GCC

Raza launches property platform; to become largest community landlord in Saudi Arabia

Raza, the real estate management arm of Saudi Public Pension Agency (PPA) and a subsidiary of Al Ra’idah Investment Company (RIC), announced today the launch of operations in Saudi Arabia, the biggest real estate market in the GCC.

Previously known as Al Ra’idah, the company under its new identity has established an integrated real estate management platform to focus beyond property development to offer asset management, property management and commercial services.

Raza currently manages a total AUM (assets under management) of approximately SAR13 billion covering 2 million square meters (sqm) of high quality office, mixed-use and community developments Riyadh, Jeddah and Dammam.

The company is currently completing a development pipeline of 4,600 residential units in Digital City and Jeddah Obhur.  Together with existing compound assets and residential portfolio in the Diplomatic Quarter, Raza will emerge as the largest community landlord in the Kingdom by 2020.

“We launched the Raza model in order to build on our unrivalled experience with delivering large challenging projects in Saudi Arabia.  Raza is designed to preserve and enhance the value of these big investments with a strategic, life cycle approach to asset management. Our model is to combine our local knowledge and relationships with global institutional standards,” said Waleed Aleisa, Chief Executive Officer of Raza.

“As we are preparing to launch a new phase of our growth journey, our road to success is built on developing local talent, technology innovation, and a renewed focus on customers.  If we achieve these goals, we will deliver higher returns for our owners and reduce the cost-ratio of our operations.”

Raza also charts out a five-year growth strategy wherein placemaking and developing integrated communities act as critical growth catalysts in doubling its portfolio to nearly SAR26 billion in AUM by 2024. The current occupancy rates across its portfolio stand at 85 per cent with some of the prominent developments such as Digital City in Riyadh close to fully leased.

As part of the growth strategy, Raza has also launched a digital transformation programme to deliver improved operational efficiency and customer experience.

“In keeping with our commitment to professionalise the market, the next few months will see us introducing new-to-market concepts to Saudi Arabia that enhance integrated community experience where people want to live, work and relax. In this context technology plays a critical role and the digital transformation journey will help us introduce several industry-first propositions in the region,” Aleisa added.

Watch video here: https://vimeo.com/333685954 

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About Raza
Raza is Saudi Arabia’s leading property asset manager and developer, focused on managing high-quality assets in the Kingdom. With over SAR13 billion million of real estate assets under management (AUM), Raza is one of the largest asset managers in the Kingdom operating a portfolio of multiple asset classes including residential, commercial and mixed-use developments.
Established in 2007 as Al Ra’idah, the company has recently been rebranded to Raza, a subsidiary of Al Ra’idah Investment Company (RIC) which in turn is owned by the Public Pension Agency (PPA) of Saudi Arabia.

For more information, please contact:
Ajith Henry
Hill+Knowlton Strategies
+966 56 993 2538
Email: ajith.henry@hkstrategies.com

© Press Release 2019

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