Saudi-KM venture to encourage women

Saudi-KM venture to encourage women
Staff Report



Dubai: Prominent Saudi businessman Prince Khalid Bin Al Waleed Bin Talal Al Saud and KM Properties announced their newly completed joint venture under the name of KMPK Properties with offices in Riyadh, Dammam and Jeddah.

KM Properties, a subsidiary of Dubai based KM Holding is a full-fledged real estate developer. KM Properties owns number of projects in the UAE at a value of Dh4.3 billion, which covers modern offices and residential towers, retail areas, healthcare clinics and luxury hotels.

The chairman of the new development company, Prince Khalid highlighted the significance of the newly established KMPK Properties stating that he is strongly committed to take part in the implementation of King Abdullah's efforts to bring more Saudis, especially women, to the econ-omic forefront and to create more investment opportunities in Saudi Arabia.

Business model

"To bring more women to the economic forefront is not an easy exercise but we will showcase a good business model of how to encourage women in private sector companies like KMPK Properties where they play roles at all levels of the corporate ladder, this gesture will in turn encourage and guide other companies to utilise women talents in a wider context.

"Such business model is of particular significance in a society where conservatism in the workforce and traditional inhibitions largely exists," Prince Khalid said in a statement.

Khulood Al Rostamani, co-founder & group director of KM Holding said: "KMPK Properties is expected to play a major role in attracting the investments and capital of Saudi businesswomen. Also, a whole section that is exclusive for women has been established for this purpose whereas we have trained a group of Saudi national women who are interested in joining the workforce. In addition, some of the concepts developed in the projects would cater to women as a target segment and will be built around businesswomen's needs."

Prince Khalid added "KMPK Properties is eager to give back to the community at large." An entry of this scale is expected to create a substantial number of jobs in the Saudi market, while adding to the economy.

Dr. Mohammad Haddad, Chairman of KM Holding and vice-chairman and CEO of the new company KMPK Properties listed the various real estate projects to be developed by KMPK Properties using their "Six Value Benefits" character which includes: hotel facilities services, prime locations, good accessibility, luxury design, quality and delivery aspects. "One of the investment products KMPK Properties offers is equity investments, in which investment banks and private funds will invest directly into our real estate projects," he added.