The Riyadh-based closed joint stock company, Hamad Mohammed Bin Saedan Real Estate Company, has announced the appointment of Neo Merchants Capital as its financial advisor for a potential capital increase by way of offering on the Saudi parallel market (Nomu). The potential offering is subject to obtaining regulatory approvals from the Saudi Capital Market Authority and the Saudi Exchange Company.
Established in 2019, Hamad Mohammed Bin Saedan Real Estate Company is an extension of the experience and legacy of Hamad Mohammed Bin Saedan Real Estate Office, one of the oldest real estate entities in Saudi Arabia since 1389H AH. The company’s paid-up capital is SAR 240 million, and its business focuses on the real estate investment activity and real estate service activity. The real estate investment activity strategically allocates the company’s assets between income-generating real estate assets to achieve periodic income, and investments in real estate development projects and lands to achieve capital gains. The company operates according to a well-defined allocation plan that helps alleviate risks, including geographical allocation of assets across the Kingdom’s cities and attractive real estate sectors that are aligned with Vision 2030.
Further, the company has recently ventured into the technology investments sector and plans to expand in this field by investing in technology projects and startups operating in the Proptech field and others.
Mr. Hamad Mohammed Bin Saedan, Chairman of the Board of Directors of Hamad Mohammed Bin Saedan Real Estate Company, expressed his contentment for the agreement with Neo Merchants Capital, considering this step as of major importance to the company’s journey, which aspires to provide a modern professional role model in the real estate industry that aligns with the continuous developments in the Kingdom. He also affirmed that being in the capital market will elevate governance and transparency levels, in line with the company’s commitment to its shareholders and the Saudi community.
Mr. Abdulaziz Hamad Bin Saedan, CEO of Hamad Mohammed Bin Saedan Real Estate Company, expressed his delight for this step, emphasizing his believe in the company’s team to add value for its active investments portfolio and achieving the expansion plan in the real estate service activity, backed by the team’s capabilities, potential, and passion enabling them to achieve the goals.
From his side, Mr. Tarek bin Walid Tawfik, CEO of Neo Merchants Capital, expressed his happiness and praised the step taken by Hamad Mohammed Bin Saedan Real Estate Company to list its shares on the parallel market after obtaining the necessary regulatory approvals, which adds significant value to the market depth of the Saudi Exchange. He clarified that increasing the capital of Hamad Mohammed Bin Saedan Real Estate Company through the offering will help expand its investments in real estate development and enhance its competitiveness in the real estate services activity.
With this step, Hamad Mohammed Bin Saedan Real Estate Company continues to strengthen its role in the real estate industry and enhance its ability to achieve sustainable growth as a leading company and the preferred choice for clients in the real estate industry across the Kingdom of Saudi Arabia.
Translated from the Arabic press release.
Neo Merchants Capital is the registered tradename of Darb Altujjar Financial Company, a CMA regulated entity under license no. 18197-30.
