ASAS Real Estate Company, Eastern Province, Kingdom of Saudi Arabia
ASAS Real Estate Company (ASAS) is a Saudi closed joint stock company headquartered in the Eastern Province of the Kingdom, and engaged in the development, management, marketing, and financing of various classes of real estate assets. ASAS is sponsored by a select group of prominent real estate investors and developers from the Kingdom of Saudi Arabia, who hold a 50 per cent ownership stake in the equity of the Company
.In June 2006, VCBank promoted the US$ 40 million private placement offering of shares in Venture Estates, a Sharia-compliant Cayman Islands investment vehicle, established for the sole purpose of acquiring a 40 per cent ownership stake in ASAS.
Venture Estates is one of the largest companies listed on the list of the Kuwait Securities market. Venture Estates brings together the financial and structuring capabilities of VC Bank and the real estate market know-how of the Commercial Real Estate Company (Al-Tijaria), the real estate advisor to Venture Estates. In addition to Venture Estates and its strategic investment of 40 per cent, Al-Tijaria – one of the largest companies on the Kuwait stock exchange – owns the remaining 10 per cent of ASAS.
Through its stake in ASAS, Venture Estates offers access to a vast array of real estate development and investment opportunities, particularly housing development projects in the Kingdom of Saudi Arabia. The Company’s main focus will be the conceptualisation and development of affordable housing projects throughout the Kingdom, with particular emphasis on the Eastern Province of Saudi Arabia, where the need for such projects is the greatest..
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ASAS Real Estate Company (ASAS) is a Saudi closed joint stock company headquartered in the Eastern Province of the Kingdom, and engaged in the development, management, marketing, and financing of various classes of real estate assets. ASAS is sponsored by a select group of prominent real estate investors and developers from the Kingdom of Saudi Arabia, who hold a 50 per cent ownership stake in the equity of the Company
.In June 2006, VCBank promoted the US$ 40 million private placement offering of shares in Venture Estates, a Sharia-compliant Cayman Islands investment vehicle, established for the sole purpose of acquiring a 40 per cent ownership stake in ASAS.
Venture Estates is one of the largest companies listed on the list of the Kuwait Securities market. Venture Estates brings together the financial and structuring capabilities of VC Bank and the real estate market know-how of the Commercial Real Estate Company (Al-Tijaria), the real estate advisor to Venture Estates. In addition to Venture Estates and its strategic investment of 40 per cent, Al-Tijaria – one of the largest companies on the Kuwait stock exchange – owns the remaining 10 per cent of ASAS.
Through its stake in ASAS, Venture Estates offers access to a vast array of real estate development and investment opportunities, particularly housing development projects in the Kingdom of Saudi Arabia. The Company’s main focus will be the conceptualisation and development of affordable housing projects throughout the Kingdom, with particular emphasis on the Eastern Province of Saudi Arabia, where the need for such projects is the greatest..
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