Doha, June 13 (QNA) - Alijarah Holding Company is expanding its operations into Saudi Arabia with the establishment of a new subsidiary, Alijarah Al Mubtakrah Al Aqariya.

This move is part of the company's broader strategy to tap into the real state market across the Gulf countries, the company said in a statement published on Qatar Stock Exchange (QSE) website.

The CEO of Alijarah Holding Company Hamad Al Jamali said that the company has begun its investment activities by purchasing a land in Jeddah's Al-Rawdah district.

He highlighted the strategic decision to invest in Saudi Arabia due to its promising market conditions, including a strong urban development boom and high purchasing power. This is aligned with the company's goal of achieving high returns for its investors.

Saudi Arabia presents a fertile ground for investments not only in real estate but also in sectors like healthcare, education and retail, he added. (QNA)