Naif Al-Rajhi Investment (NRI) has invested in London’s Metaform Real Estate Company, aimed at transacting eight projects worth at least 100 million pounds.
This “multi-disciplinary enthusiastic and ambitious” partnership will create landmark schemes that encompass art, design and technology, executed in an ecological and socially responsible manner aimed at delivering “timeless, contemporary and iconic legacy” projects.
Metaform intends to differentiate itself through its culture of innovation and creativity.
Naif bin Saleh Al-Rajhi, CEO of NRI and chairman of Metaform, said: “As our Middle-Eastern businesses continue to grow, we knew that our expansion to the UK would be our next logical goal. With this deal we will fulfill our team’s passion for ongoing development, learning and growth.
Jalal Al-Yawer, CEO, Metaform, stated: “Everyone is very excited at the launch of Metaform Developments. We are ready to take advantage of the opportunities that have arisen from a super attractive exchange rate, especially for dollar-denominated investors from the GCC. There are plenty of opportunities in the market at the moment and with robust domestic and international demand, we feel that Metaform is very well positioned to seize them.”
Metaform’s Executive Partner Mazen El Khatib said: “We will launch the first project early next year. We will also anticipate a plentiful pipeline for the second half of 2017, with projects across the capital. Metaform will consistently be pushing the boundaries of what is possible in terms of design, functionality, quality and delivery.”
Naif Al-Rajhi Investment (NRI), a Saudi company headquartered in Riyadh, has its presence in Dubai and London that invests in real estate, capital markets, and mergers and acquisitions.
Its investments spread well over 30 companies that provide more than 17 services in 11 different industries.
The company prides itself over its diversified and risk-managed investments portfolio with a high emphasis on human capital as its main asset.