SNASCO Real Estate
It was not just another coincidence or a passing opportunity that brought SNASCO to light, but industrious hard work and experience inherited from a 100 years of trade and industry by the reputable Al Sorayia family in the Kingdom of Saudi Arabia. The story of SNASCO goes back to the time when the founder and CEO Mr. Saleh Nasser Abdul Al Aziz Al Sorayai returned home to KSA after completing his higher education in the USA.
Mr. Al Sorayai undergone training with auditing firms for many years. Eventually, Mr. Saleh joined the family business, the “Abdullah & Nasser Al Sorayai Company”, which employed all the Sorayai sons in the administrative positions of the holding company, “Al Sorayai Group”. There, Mr, Saleh who managed the financial affairs of the group, was able to orchestrate the collective knowledge and experience of different family memebers involved in the work process to set the group on an upward course in the region’s markets. With his outstanding financial analysis skills and command of the “tricks of the trad”, Mr. Saleh was soon taking Al Sorayai Group to new heights, where it widely spread all over KSA and the GCC through a number of companies associated with commercial and residential interior design, carpeting and furniture.
In addition, the group holds various stakes and management control in industrial and commercial corporations in GCC. Mr. Saleh created for himself during the last three decades a great reputation in Saudi Arabia and the GCC based on credibility, truthful-ness, transparency and professionalism. The launch of SNASCO was long forerun by recognizable investments in the UAE real estate market initiated by the founder Mr. Saleh Al Sorayai, which gained him a deep understanding of the market.
With the existence of several developers in the region, SNASCO positioned itself as a land developer (i.e. selling developed lands only with exception to one project – West Bay). This approach reduces the inherited risks, reduces the need for extensive capital/investments, and results in higher return on equity. In addition, it seeks opportuni-ties where competition is still trivial and market demand is growing.
In the year 2005 SNASCO was registered as 100% Saudi LLC in Sharjah-UAE in the name of Mr. Saleh Al Sorayai and his eldest son Talal