Managing Director and CEO of “Saudi Real Estate” to CNBC Arabia:...

Ibrahim Al-Alwan, managing director and CEO of “Saudi Real Estate”, said in an exclusive interview with CNBC Arabia that the company has plans to use the 1.6 billion riyals liquidity as part of a strategy for the next five years and develop current real estate projects.

Alwan said that the company’s current focus is on projects in Riyadh, as some of them need to be restored and rehabilitated, and the bulk of the funding is for expansion in the city of Riyadh with the expected increase in its population.

Al-Alwan added that the non-recurring items caused losses in the past years, noting that the company’s loans amounted to 4 billion riyals and the current capital is 2.4 billion riyals, and the aim of the capital increase is to create a balance between loans and capital.

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