09 June 2015
R Select signed a 20 years head lease contract with Al Khaleejiah Holding Company, KSA for CityLife, Al Khor - its flagship project located at the Ajman Creek.

CityLife Al Khor, one of the most prominent projects under the CityLife brand, boasts of 120,000 square feet built up area and a premium waterfront location. The project involves an investment of AED 120 million for its first phase, with the second phase estimated to hold the same value.

A 20 years head lease was signed last week, with Al Khaleelijiah Holding Company, the prestigious Saudi based company, which also holds a commercial partnership with HyperPanda - one of KSA's most prominent retail players.  

Commenting on the partnership Imran Khan, CEO of R Select said, "We are pleased to sign up Al Khaleejiah Holding Company as our head lease operator. They carry the right values to operate and manage a prestigious retail destination like CityLife, Al Khor. We believe the project will benefit significantly from the partnership."

H.E. Mr. Ghaleb Bin Hamed Al Sadoon, Chairman of Al Khaleejiah Holding Company added, "We are proud to be associated with R Select. Keeping in line with our practice of selecting premium and high profile projects, CityLife Al Khor is the perfect choice for Al Khaleejiah. We are very optimistic about our operations at CityLife Al Khor with a purpose to reach into the Ajman Market".

CityLife, Al Khor is the fourth project to be launched under the CityLife brand. R Select has successfully delivered the first two projects at Al Jurf and Al Hamidiyah, worth AED 60m and 65m each. The third project valued at AED 90 million is headed towards completion at Al Zorah.

Following its ambitious plans, R Select has announced three more projects, of which two are going to be developed in Dubai with an investment of AED 250 million.

© Press Release 2015