Leading global property consultancy Knight Frank has announced its key agreement with Saudi Ministry of Municipal and Rural Affairs and Housing (MoMRAH) aimed at driving investment opportunities in the kingdom's public parks.
The announcement came at the inauguration ceremony of the waterfront development project in Obhur held in the patronage of Prince Badr bin Sultan Al Saud, Deputy Governor of Makkah, and Majid bin Abdullah Al Hogail, Minister of Municipal and Rural Affairs and Housing as well as other senior officials.
Speaking on the occasion, Talal Raqaban, Partner, Head of Valuation & Advisory - KSA at Knight Frank, said: "The cooperation agreement establishes a strategic partnership between the Ministry and Knight Frank, emphasising the shared vision for creating vibrant and modern urban environments."
"By leveraging our expertise in real estate and investment, Knight Frank aims to play a pivotal role in helping to attract local and international investors to contribute to the success of the initiatives relating to public parks," he stated.
The agreement underscores Knight Frank's unwavering commitment to advancing the Bahja Initiative and actively contributing to the development of the Obhur waterfront, he added.
Raqaban pointed out that this partnership indicated a significant step forward in the development of public parks and urban spaces, aligning with the overarching objective of establishing sustainable and attractive spaces.
"Knight Frank is excited to contribute its expertise to support MoMRAH in realising the vision outlined in the Bahja Initiative and contributing to the success of the Obhur waterfront development," he added.