- Media Center
- Press Release
- October 21, 2024
Riyadh, Saudi Arabia
DarBayat, a leading real estate developer renowned for delivering upscale residential projects in the Kingdom, has announced the signing of a memorandum of understanding with Kease, a company specialized in luxury leasing solutions. This strategic partnership aims to boost the Saudi real estate sector by combining DarBayat’s expertise in property development and quality of life enhancement with Kease’s comprehensive residential unit management and leasing services. The collaboration will focus on the “Rezi” product, which boasts strategic locations in the heart of Riyadh.
As part of this collaboration, DarBayat has recently acquired six plots worth over SAR 90 million at various locations in Riyadh to develop 180 residential units for its new residential product “Rezi”. This product offers fully furnished units with practical living spaces ranging from 80 to 110 square meters, featuring thoughtful designs tailored for business professionals and investors. It also includes shared spaces designed for meetings and work, creating an environment that blends comfort with functionality.
This partnership guarantees lucrative investment returns for both investors and clients interested in this unique residential product, reflecting the companies’ commitment to elevating living standards in the Kingdom in line with Saudi Vision 2030.
Khaled Mahmoud Al-Khashab, CEO of DarBayat, commented on the partnership: “Our partnership with Kease represents a pivotal moment in developing luxurious lifestyles in the Kingdom. By merging DarBayat’s commitment to innovative design and high quality with Kease’s expertise in leasing services and property and asset management, we offer a new residential experience with Rezi projects. This product not only redefines the leasing experience but also aligns with our vision to deliver exceptional value and enhance the standard of living in Riyadh’s finest areas.”
Kease, a leading Saudi company in managing both short-term and long-term leasing, was established as a closed joint-stock company and has enhanced its position in the local market by offering customized residential solutions that focus on comfort, privacy, and ease of use through its app and website. Kease aims to deliver a new level of services in the real estate sector, fully managing the “Rezi” project, including tenant attraction, property management, and on-demand concierge services to ensure a seamless and comprehensive experience for both investors and renters.
Abdulrahman Ba Hashwan, Founder and CEO of Kease, stated: “Our partnership with DarBayat is a significant step towards meeting the growing demand for fully managed luxury units. Through the Rezi project, we aim to offer an exceptional residential experience based on flexible solutions that make it easy for investors and renters to benefit from the best of modern living.”
Rezi is set to become the new standard for fully managed residential leasing solutions in the Kingdom.
About DarBayat DarBayat is a leading real estate developer in Saudi Arabia, specializing in high-end residential projects. Since its inception in 2019, the company has completed over 24 projects in Riyadh, focusing on innovative designs, sustainability, and enhancing the quality of life for residents.
About Kease Since its launch in 2021, Kease has achieved significant growth and expansion, currently managing over 500 residential units in Riyadh, including existing units and others under development. The company targets providing a comprehensive and comfortable leasing experience that meets the needs of both individual clients and corporate clients alike. Kease offers a wide range of services designed to enhance the living experience and meet customer needs, ensuring a comfortable and integrated environment that caters to diverse client requirements. With its commitment to technology and innovation, the company facilitates the leasing process, enhances comfort levels, and provides advanced solutions to ensure tenant satisfaction and create a distinguished and connected living experience.