Client

Location

Aqalat

Riyadh, KSA

Description

AQALAT aspires to achieve its vision of future projects by enabling smart cities concepts leveraging stc’s ICT capabilities, creating sustainability and raising the standards of everyday life for its residents, not to mention the availability of pedestrian walkways, parks, open areas and so many others. The Project, at a later stage, will have another phase with various asset classes (e.g. residential, offices, and retail).

The Context

As the Client’s inaugural master development project, it required a comprehensive approach to estate management strategy, aligning with both the Client's aspirations and the target market's expectations. The Client envisioned retaining all assets and offering them as tenanted products. This vision necessitated a strategic framework that would ensure the seamless integration of all components, maximizing asset value and ensuring sustainable, long-term profitability while meeting the high standards set by the Client.

Services

  • Benchmark Study Report

  • Cost Model

  • Estate Management Strategy

  • Operational Implementation Plan and FM Service Procurement

  • Property and FM Strategy, Consultancy and Implementation.

Our Value

We delivered a comprehensive estate management strategy that perfectly aligned with their aspirations and target market's expectations. Our deliverables included a Benchmark Study Report, a detailed Cost Model, and a robust Estate Management Strategy. Additionally, we advised the Client to set up a master community declaration, even though it was not required due to the single ownership of the entire development. This proactive advice ensures that if the Client decides to exit some or all assets in the future, the development will already be structured to facilitate such an approach efficiently.