Mohammed Ibrahim Al-Subeaei and Sons Investment Company (MASIC) announces the completion of the sale of “Deem Plaza” center. The center is located in Al-Hamra District on King Abdullah Road, east of the capital, Riyadh, for a net price of 220 million Saudi Riyals to Taiba Investments, a Saudi company listed on the Saudi Stock Exchange “Tadawul” for securities exchange.
“MASIC” is one of the largest private investment companies in the Kingdom of Saudi Arabia. The Company’s commercial and investment legacy goes back to more than 80 years of continuous success and sustainable growth. Since establishment, MASIC has invested in distinguished opportunities in local, regional and global markets. Such investments were diversified to include founding of specialized companies, banks and financial institutions and investing in securities; in addition to its pioneering role in the direct real estate development industry under its distinctive trademark “MASIC Centers”.
As the properties of “MASIC Centers” are mainly distinguished by their strategic locations and unique designs which are compatible with their purposes and uses, along with their well-considered spaces embracing top international and local brands in addition to their integration of services. MAISC properties have become today a destination for visitors and those looking for sophistication, luxury and living an exceptional and different experience. Deem Plaza Center is strategically located on one of the most important arterial roads near one of the main intersections in the capital, Riyadh, where the center is located in Al-Hamra district, on King Abdullah Road near its intersection with the Eastern Ring Road. Furthermore, the layout which was completed in 2018, was the first of its kind at the time by focusing on the concept of “lifestyle” through its tenant mix, which provided distinctive restaurant spaces to serve both tenants and visitors, in addition to providing parking spaces which exceeds the standard requirements for the convenience of the center’s visitors.
Accordingly, such deal proves the excellence of MASIC’s real estate development vision through “MASIC Centers” trademark, with its state-of-art design concept as well as its tight strategy for managing its multiple centers, based on the active management of such developed properties, aiming at providing distinguished real estate products to specialized real estate investors.
Whereas, this deal is an extension of the previous successes of “MASIC”, it is also the beginning of a new path on the road of real estate development, where “MASIC” is looking forward to specialization, capacity and operational growth. Such deal gives MASIC the honor to participate in realizing the Kingdom’s vision driven by the passion of its owners towards the future.