Rafal Real Estate Development (RAFAL)
RAFAL was formed in 2007 between ACWA Holding and other reputed Saudi investors to lead the market in quality real estate development, focusing on middle income mixed communities. Rafal Tower along King Fahad Road in Riyadh is one of the major projects being undertaken by Rafal. It will be a mixed-use property, comprising a 5-Star hotel, operated by the world renowned Kempinski Group, serviced Apartments, a boulevard, spa and office space Manhattan Style. The construction is expected to be completed in 2012.
Blncyah, a residential villa project and a unique community compound located in King Abdulaziz district in Riyadh consisting of 144 villas with different designs and sizes will be completed by the end of 2009. There are many other iconic real estate projects in the pipeline with the company plans to invest up to SAR 3.7 Billion in various real estate projects throughout Saudi Arabia.