Al-Riyadh Daily Newspaper - Issue 9328
Al-Oula Development KSA wins the leadership of UAE Amlaki for Real Estate Technology and possesses 20 per cent of its share.
Riyadh: Abed Al-Muhsen Al-Murchid
Al-Oula Real Estate Development Company (KSA) has succeeded in handling the leadership of one of the biggest real estate information technology companies in the Gulf region after its President Ayedh Al-Qahtani has won the presidency of the Board of Directors of Amlaki UAE. On the other hand, Khalid Al-Kasim from the UAE will occupy the post of Vice President. The Saudi side holds 20 per cent of the company’s share that provides many advanced real estate and information services in order to greatly serve the growing real estate investment that represents the biggest investment basket in capital orientation.
Al-Oula, one of the biggest investment companies in the region, plans to introduce the digital technology tools and use them for serving the real estate activity. After he headed the first meeting held for the company in Dubai, Ayedh Al-Qahtani President of Al-Oula and Chairman of the Board of Directors of Amlaki Company mentioned that Al-Oula aims at developing its performance and increasing the level of the services provided in the real estate market that controls the biggest share of the investments volume and the biggest share in the dealers circle. He added that for this reason the company is trying to take measures that go along this huge growth and help to introduce and develop its concepts, methods and technologies used by entering the activities of one of the biggest companies working in the domain of real estate and its technologies i.e. Amlaki Company of which we were able to acquire a big share that represents 20 per cent and therefore handle the leadership of the company in the next phase in which the growing real estate development needs such helping activities. He said that this Gulf alliance is an indicator of the market’s power, convergence of interests and common vision towards a better future in the domain of real estate, use of technology and finding systems for the real estate solutions and telecommunications. For his part, Mohamed Mohfaz General Director of Amlaki pointed out the positive aspect of this alliance since it represents a strong trend for the establishment of Amlaki KSA that will be an extension of the activities of Amlaki International and a promise of the entrance of many services and advanced technology programs to the real estate market in KSA.