Latest news with #MajdInvestment
Zawya
6 days ago
- Business
- Zawya
Seef kicks off design phase of premium Saudi mixed-use project
Seef Properties, a leading Bahrain-based developer, has announced that it has started the design phase of its inaugural project in Saudi Arabia, a 78,000-sq-m mixed-use development in Dammam, in partnership with Majd Investment Company. The project, located in the kingdom's Eastern Province, marks Seef's entry into the Saudi market and is part of its regional expansion strategy to boost shareholder value and diversify its portfolio, the company said in a statement. It will feature residential, commercial, hospitality and entertainment components, including retail outlets, hotel services, and a family entertainment centre. The move comes following a strategic agreement signed by during last year's Cityscape global exhibition in Riyadh and represents a milestone in strengthening Seef Properties' regional presence. With the project now in the design phase, a team of leading international and local consultancy firms has been appointed to oversee its development. Benoy Limited, a global architecture firm, will handle the master plan, architectural, and interior design work, while Mohamed Salahuddin Consulting Engineering Bureau (MSCEB) will provide all engineering design services and supervise on-site construction. Cracknell Landscape Design, a renowned urban design and planning firm, will be responsible for designing the project's green and outdoor spaces, said the statement from Seef Properties. Impact Consulting Engineers will serve as the appointed architectural engineering office responsible for securing official approvals. Mashari Al Shathri Engineering Consultants (MISSION), a Saudi firm, will conduct the traffic studies, while Haj Gulf, a specialist in project and cost management, will be overseeing the project and cost management services. According to Seef, the development is one of the most significant initiatives in the Eastern Province, aiming to create an integrated destination featuring residential, commercial, entertainment, and office facilities built to the highest standards of comfort and sustainability. "This step reflects our commitment to delivering high-quality projects with a positive impact that support economic and social development, especially in the Saudi market, which is one of the most promising destinations for growth in the retail, hospitality, and entertainment sectors," remarked its CEO Ahmed Yusuf . " Advancing the project to the detailed design phase is a key milestone in realizing our vision of developing innovative urban destinations. We will continue to leverage our expertise, in collaboration with Majd Investment Company, to deliver a project that sets a benchmark for enhancing the investment environment and creating added value for the region," he stated. Majd Investment Company CEO Mahmood Al Kooheji said: "We are pleased to partner with Seef Properties on this ambitious project, which brings together both Bahraini and Saudi expertise to develop an integrated urban destination that meets the expectations of the local market." "We are confident that this collaboration will result in a distinctive development that enhances the Eastern Province's position as a comprehensive center for investment, commerce, and living," he added.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
6 days ago
- Business
- Zawya
Seef Properties announces launch of design phase for Dammam project
Manama, Kingdom of Bahrain – Seef Properties announced the start of the design phase for its mixed-use real estate project in Dammam, which marks the company's first step in its expansion into the Saudi market, and is carried out in partnership with Majd Investment Company. The project is part of Seef Properties' strategic plan to maximize shareholder value and drive sustainable growth by entering new markets in the region, in line with its approach of investing in promising opportunities and expanding its entertainment and hospitality portfolio in Saudi Arabia. The development is one of the most significant initiatives in the Eastern Province, aiming to create an integrated destination featuring residential, commercial, entertainment, and office facilities built to the highest standards of comfort and sustainability. This move follows a strategic agreement signed during last year's Cityscape global exhibition in Riyadh and represents a milestone in strengthening Seef Properties' regional presence. With the project now in the design phase, a team of leading international and local consultancy firms has been appointed to oversee its development. Benoy Limited, a global architecture firm, will handle the master plan, architectural, and interior design. Mohamed Salahuddin Consulting Engineering Bureau (MSCEB) will provide all engineering design services and supervise on-site construction. Cracknell Landscape Design LLC, a renowned urban design and planning firm, will design the project's green and outdoor spaces. Impact Consulting Engineers will serve as the appointed architectural engineering office responsible for securing official approvals. Mashari Al Shathri Engineering Consultants (MISSION), a Saudi firm, will conduct the traffic studies. Haj Gulf, a specialist in project and cost management, will oversee project and cost management services. Seef Properties Chief Executive Officer, Ahmed Yusuf said: 'This step reflects our commitment to delivering high-quality projects with a positive impact that support economic and social development, especially in the Saudi market, which is one of the most promising destinations for growth in the retail, hospitality, and entertainment sectors. Advancing the project to the detailed design phase is a key milestone in realizing our vision of developing innovative urban destinations. We will continue to leverage our expertise, in collaboration with Majd Investment Company, to deliver a project that sets a benchmark for enhancing the investment environment and creating added value for the region.' Majd Investment Company CEO, Mahmood Al Kooheji said: 'We are pleased to partner with Seef Properties on this ambitious project, which brings together Bahraini and Saudi expertise to develop an integrated urban destination that meets the expectations of the local market. We are confident that this collaboration will result in a distinctive development that enhances the Eastern Province's position as a comprehensive center for investment, commerce, and living.' This unique Saudi Arabia project aims to create a vibrant environment that seamlessly integrates living, working, and leisure, with a strong focus on sustainability and quality of life. It will include retail and dining outlets, hotel services, and a family entertainment center, spanning a total area of approximately 78,000 square meters. -Ends- Media contact: Mohammed Isa Perceptions PR & Digital Email: mohammed@ About Seef Properties: Seef Properties B.S.C. was established in the year 1999 and is a public shared company listed on Bahrain Bourse since 2007 with its operations headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand. The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients. The Company's message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.
