In an Interview published in AL-Eqtisadyia Newspaper “Sheikh Mohammad Alhabib : Soon, Mohammad Alhabibi Co. will be issued to the Saudi stock market ”
Sheikh Mohammad Alhabibi is a name that cannot surpassed when speaking about pioneers of Real Estate in the Kingdom. He is a business man and one of the first who realized the idea of closed commercial centers, which began with the construction of Makkah Commercial Center at Kind Fahad road, followed by Tiba Market, Riyadh, Al-Andalus Center, Bab Sharif Center, Saudi Business Centre, Jeddah, Aseer Mall and many successful projects.
AL-Eqtisadyia Newspaper met with Sheikh Mohammad Alhabib, Chairman of Mohammad Alhabibi & Partners Co. for Real Estate Investment during the Inauguration of Hayat Mall and conducted the following dialogue with him:
1. What about the inauguration of Hayat Mall?
Mohammad Alhabib Co. Everything went smoothly and the work was achieved at a record time. The Inauguration was made this day by grace of Allah in the presence of Real Estate, investment, businessmen, Shoppers and Hayat Mall clients.
2. Do you have the intention to turn into a Saudi joint Stock Company?
Yes we are working and doing our best for this transfer and in the near future Mohammad Alhabib Company shall be a Saudi Stock Company, but we need some time for arrangement of part of the internal matters.
3. Do you recommend Real Estate alliances?
Real Estate alliances are a necessity in view of the Saudi Market being subjective to the International Market, so companies must make alliances to be able to complete with new companies with long Real Estate expertise.
4. Could you tell us about the beginning of Sheikh Mohammad Alhabib
I am from a middle class family, I began my life in a simple way and was grown up within a business family, gained experience from my father and uncles, studied and graduated from Riyadh University, invested in commercial work until by grace of Allah I reached my present position.
5. What about workers in Hayat Mall?
Thanks to all who contributed to this marvelous work and I am looking forward to more work for the satisfaction of shoppers and tenants who are our partners in this great success. Hayat Mall with an area of 142000 m², a lease area of 88000 m² and 360 well selected shops is regarded as one of the biggest Commercial Centers in Riyadh.
6. What about Real Estate mortgaging?
Real Estate mortgaging is useful and will solve many problems, but we fear of its problems in the future, specifically if some persons failed for payment and banks were forced to sell the Real Estates as what happened in the America in a time economical parties in the Kingdom are making preparation for declaring the Real Estate mortgaging system.
7. Does the Real Estate market need regulations to be the best?
The Real Estate market is in need of clear regulations and new ideas that assist the Saudi economy in developing. I prefer the establishment of a higher authority in the Real Estate sector. By the grace of Allah our economy is excellent and in continuous development with the help of our Government.
8. What about Hayat Mall?
Hayat Mall includes Danube Hypermarket, which is the first in the central region, in addition to Best, Paris Gallery, Jarir Bookstore and a collection of international trademarks which satisfy shoppers together with an international design, special characteristics & recreational area.
Sheikh Mohammad Alhabib accompanied by the company General Manager, Engineer Abdulaziz Al-Yousuf and senior business men, cut the inauguration ribbon and toured the centre and all listened to briefings by Engineering Salih Mohammad Alhabib, Development Manager and finally honoring of the official sponsor of the inauguration and participating companies took place.
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