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The speech of his Excellency the
Governor of Public Pension
Agency (PPA) and Chairman of the
Board Of
Directors of Rayadah Investment
Company (RIC) Mr. Mohammed Bin
Abdullah Al-kharashi
To maintain the balance between its
income and its financial
responsibility to preserve stable
financial resources for the
civilians and militants retirees and
their beneficiaries thereafter,
Public Pension Agency (PPA) managed
to develop its financial recourses
by investing in various fields.
In furtherance to PPA strategy to
improve its construction ,
investment efficiency and carrying
on its business and duties in a
flexible manner according to the
prevailing surrounding circumstances
, and in order to support the
investment and competitive ability
of the Agency , PPA`s Board of
Directors decided to assign the real
estate investment activities to
independent company .This company
is authorized to carry business ,
contracts and takes the important
and urgent investment decisions in
a flexible manner. The company is
empowered to attract , employ staff
of specialization and expertise in
financial and real estate
development fields . For the fact
that PPA projects are so huge and
various , Saudi Cabinet has
approved the incorporation of a
public company in the name of
Rayadah Investment Company owned
completely by PPA . The main
Objectives of this company is to
own, sell and manage all or part of
PPA`s property and has the right to
exercise all activities and means to
achieve its objectives including the
financial, commercial and industrial
activities whether it relates to a
movable , negotiable or immovable
properties . These activities
include , but not limited to, the
execution of real estate Projects
,commercial Projects , Industrial
Projects , Services Projects and to
own ,sell, manage , develop and
operate the these projects. The
company is authorized to purchase
the material and
immaterial property and to own
,sell ,lease the same . Also the
company is authorized to invest ,
for its own account and on behalf of
PPA, in the local ,regional and
international stock markets.
We hope that, this company shall
contribute to the development ,
growth of PPA investments and
consequently support the main goal
of PPA to guarantee stable
financial resource for the
civilians and militants retirees and
their beneficiaries thereafter.
Rayadah Investment Company (RIC) is
a Saudi Public company incorporated
by virtue of His Royal Majesty’s
decree no. M/9 dated 9/2/1428H. The
head quarter of the company is
located in Al Riyadh city.
RIC is one of the leading companies
in real estate development in Saudi
market. It is the active tool of
the Saudi Public Pension Agency
(PPA) for investment in real estate
development field. RIC exercises
the activities of management,
operation of the real estate
projects owned by the Public Pension
Agency (PPA). RIC also supervises,
manages the execution, construction
of the real estate projects owned by
PPA.
RIC is incorporated to own, manage
and dispose all or any part of PPA
investments or properties and
exercise all activities to achieve
its objectives.
Construction of real estate projects
for commercial, industrial and
service purposes and own such
projects, own and manage these
projects.
KIND OF ASSETS:
RIC's investment is inclusive of
local, regional and international
foreign stock markets. To attain
its objectives, RIC is authorized to
exercise all kinds of commercial,
industrial and financial activities
whether these activities relate to
movable or immovable properties in
accordance with its articles of
association.
For the time being, RIC managing and
executing the following big
projects:
1.
King Abdullah Financial District
project (KAFD-Riyadh)
2.
Information Technology Complex
project (ITCC-Riyadh)
3.
Al Hamra Mall – Riyadh
4.
Embassies District Residential
project – Riyadh
5.
Al Dabbab Towers – Riyadh
6.
Mina
Towers – Mecca
7.
The Hotel project – Riyadh
8.
Eastern region project – Al Khobar
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