Qimah Monetary Firm emblem
Qimah Monetary Firm signed a financing settlement with SABB Financial institution value 498 million riyals, allotted for the aim of beginning the work of Qimah Industrial Fund (Prime Metropolis), positioned south of town of Riyadh within the Al-Ha’ir area.
The settlement will contribute to strengthening the financing base allotted for the primary section of the undertaking, permitting the implementation of highway, water, electrical energy and rainwater drainage networks, along with service and operational services, in accordance with trendy planning requirements that guarantee excessive readiness of the location when the funding exercise begins.
Mr. Ibrahim Al-Nuwaibit, CEO of Qimah Monetary Firm, confirmed that the settlement represents a pivotal step within the path of creating Prime Industrial Metropolis, noting that this financing displays confidence within the readiness of the undertaking and its potential to contribute to strengthening the financial construction south of the capital, Riyadh, and accelerating the transition from the strategy planning stage to implementing infrastructure works in line with the best requirements.
Al-Nuwaibit additionally defined that the partnership with SABB Financial institution is an extension of joint efforts geared toward establishing an built-in industrial metropolis, indicating that the settlement will contribute to offering a lovely surroundings for traders and getting ready the infrastructure for the primary section at a quicker tempo, in a approach that helps growth objectives and strengthens the nationwide industrialization system.
This funding comes after the approval of town’s common plan by the Saudi Authority for Industrial Estates and Expertise Zones “Modon”, which established the regulatory framework for the undertaking and paved the best way for the precise transition to the implementation section.
The Prime Industrial Metropolis undertaking is continuing inside a method based mostly on the trendy constructing code, as it really works to remodel the plans into an built-in growth construction supported by monetary instruments and qualitative partnerships.
That is the third settlement throughout the path of cooperation concluded in the course of the Cityscape 2025 exhibition, after two earlier agreements to finish the organizational plan and launch the actual property fund, reflecting the combination between the features of planning, financing and implementation.
