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Istethmary Al Fareeda Investments Ltd. (Saudi Arabia)
Istethmary Al Fareeda Investments Limited ("IAFI") is a limited liability company established by IIB in the Cayman Islands for acquiring a 26% indirect equity stake in Ewaan Al Fareeda W.L.L ("Fareeda") - a company established in the Kingdom of Saudi Arabia, for developing the Al Fareeda City project which is a multi development project targeting the economic and mid income Saudi population. IAFI shall be participating in the Equity of Fareeda along with other key Institutions such as the Islamic Corporation for the Development of the Private Sector (ICB) and Ewaan Global Residential Company.
The Project is being proposed in a land of about 1.2 Million Square meters located in the Dhahban area of Jeddah. Once commissioned in three years from now, the Al Fareeda City shall have more than 2000 residential villas, commercial spaces and service amenities such as School, Sports centre, Mosques, Recreation areas, Shopping complexes etc.
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