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About Us

SOLIDERE INTERNATIONAL IS
ACHIEVING SIGNIFICANT GROWTH

The advanced status of all our projects is a true reflection of our unyielding commitment to developing refined Places for Life

 

Nasser Chammaa
Chairman and Chief Executive Officer

Chairman's Message


Dear Shareholders,

Following the launch of the Al Zorah Golf Club at the end of 2015, which was immediately hailed as one of the best new golfing venues in the region, the year 2016 witnessed the substantial completion in works on many of our developments, which are at the final stages of their delivery process. This has led to the opening of the landmark The Oberoi Beach Resort, Al Zorah early in 2017 and the signing of contracts with operators for the soon to launch Marina 1 and Marina Park leisure venue. The delivery of the first Golf Villas is also due before the end of the year.

 

 As this mixed-use destination, set amid pure waters and natural mangroves, is starting to come to life, we are witnessing growing interest in the project and are receiving and evaluating offers from prominent developers and investors keen to co-develop tourist, educational, and residential projects. Al Zorah’s land bank today is worth a multiplier of its cost, and we expect its value to continue to appreciate. 

 

 In Saudi Arabia, our strategy focuses on a number of priorities led by accelerating the completion and delivery of ongoing projects. Indeed, the residential Golden Tower in Jeddah is now starting to glitter with internal finishing progressing. In Obhur and Riyadh, our land development projects are quite advanced and we will be able to start closing land sale deals by Q4 2017. In Riyadh, our team is scheduled to deliver the most prestigious new compound, Wadi Qortuba, by the end of 2017. 

 

 We have also started construction works on the development of a number of retail strips in the Riyadh area. On completion, these will add to our income generating assets, with the objective to roll-out the same business model and develop a large number of similar projects to generate stable cash flow and help diversify risks. 

 

 We look forward to more successful deliveries of projects in the years to come. 

Nasser Chammaa
Chairman and Chief Executive Officer
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