• The MOUs aim to support prospective homebuyers via the provision of financial solutions and access to government resources, such as the Sakani Programme.
• The signings with key industry partners follow the recent launch of Innovest’s Jadan Communities.
The Kingdom of Saudi Arabia, 21 September 2023: Innovest, a premier investment and development company focussed on creating unique lifestyle communities throughout Saudi Arabia, signed several strategic Memoranda of Understanding (MOUs) at Cityscape Global in Riyadh last week. The signings are in collaboration with key industry partners – including notable financial institutions, construction companies, global project developers, and real estate investment firms.
The agreements align with the Saudi Vision 2030 principle of boosting the local real estate sector and serve to reaffirm Innovest’s commitment to homebuyers. Through the partnerships, homebuyers throughout the Kingdom will also have the opportunity to benefit through the Sakani Programme’s ministry or housing initiatives.
Founded in 2017 by the Saudi Ministry of Housing the Real Estate Development Fund, the Sakani Programme aims to increase the homeowning population to 70 per cent by 2030 by creating new residential units for ownership.
Commenting on the signings, Mohammed Alkhars, Chairman at Innovest, said: “The establishment of the MOUs with the banks, construction firms, and real estate companies is a significant step forward in Innovest’s mission to equip, empower, and encourage homebuyers throughout the Kingdom. The signings lay the framework for an industry-wide support system designed to guide customers in their homebuying journey and will continue to shape the way in which the real estate sector approaches homebuying in line with the larger Saudi Vision 2030.”
The signings at Cityscape Global follow Innovest’s recent launch of Jadan Communities, located in the Al Fursan neighborhood.
Jadan Communities offers an affordable, high-quality, residential community that features stand-alone villas starting at 250 square metres, with modern designs that have been developed using the very best practices in the industry.
The three-bedroom villas will offer open-plan and contemporary living spaces, with the master bedroom featuring an ensuite bathroom option.
The villas also have great features, in line with the vision of creating residential units with a smart system that helps save energy and comprehensive warranties, to offer peace of mind.
Carefully situated among open green spaces and walkable areas, citizens will be able to enjoy a fully serviced community featuring high-end facilities and amenities.