RIYADH — Burj RAFAL, the iconic and unique vertical residential self-sustained community in Riyadh has released 460 title deeds to its respective owners on 19 Shawwal 1437H corresponding to 24 July 2016G, supplanting the previous sale purchase agreement issued between Burj RAFAL Real Estate Development Co. and the owners of the residential units.
The 70 floors tower constructed on an exclusive 20,000 sqm plot, is the first mixed-use community to finalize deeds in the Kingdom of Saudi Arabia, where the owners have gained all legal rights of their properties at the Burj RAFAL as per the recent Rules and regulations of the Saudi ministry of Justice and the ministry of Housing.
The owners have full rights and authority of possession, control, exclusion, enjoyment, and disposition as in lease, resale, transfer of title and other legal actions deemed necessary. Mr. Abdulrahman Bajunaid, CEO, RAFAL Real Estate Development Company, said: “We are proud to be the pioneers in complying with the legal rules and regulations, where we believe that these regulations come for the greater good of our country and are in line with the Ministry’s objectives and initiatives to achieve the strategic objectives aligned with Saudi vision 2030.”
He added: “RAFAL leads the dynamic lifestyle pattern by providing an enriched, homogeneous social environment offering both clients and investors a real opportunity to live and invest in.” It is worth mentioning that RAFAL Real Estate Development Company, established at the end of 2007, is specialized in developing integrated high-end residential communities. The company’s mission revolves around developing various residential communities. RAFAL is committed to providing consistent value for its long term partners in success.