#Saudi Developer Raza Seeks to Grow Assets to $7 Billion by 2024 - Bloomberg

Saudi Developer Raza Seeks to Grow Assets to $7 Billion by 2024 - Bloomberg:

Saudi Arabian property developer Raza plans to double the assets it manages to 26 billion riyals ($6.9 billion) by 2024 amid growing demand for mid- to high-end properties in the kingdom.

The real estate management arm of the Public Pension Agency wants to manage assets belonging to third-party investors such as banks, real estate investment trusts and government entities, Chief Executive Officer Waleed Al Eisa said in an interview in Riyadh.

“The demand is there,” Al Eisa said. “We don’t see much competition in property asset management. I think we’re at a phase where we are close to a bottom-up when we talk about the medium to high-end property segment.”