Alandalus Property seeks to diversify investments across Saudi Arabia: CEO

Alandalus Property Co. seeks to diversify its investments across the Kingdom, Asharq al-Awsat reported citing chief executive officer Hathal bin Saad Al-Otaibi.

He further explained that the company is in constant pursuit of high-value investments as part of its strategy that aims to achieve an outstanding performance and fulfil its investors’ prospects.

Alandalus also focuses on diversifying its investments and targeting main Saudi cities, he added.

Al-Otaibi expected the company to record growth in 2020, noting that its under progress projects include Al Jawhara Mall, Dr. Sulaiman Al-Habib Hospital, and another mall in Jeddah.

Alandalus Property portfolio recorded SAR 2.25 billion, Al-Otaibi also said.

On the company’s financial status, Al-Otaibi highlighted that Alandalus Property enjoys strong liquidity position and has settled all loans, noting that its current assets allow it to obtain new financing.

“We have no intention to expand abroad, as the Saudi market is still dynamic and attractive,” the CEO concluded.