Within its expansion in the Saudi market<\/p>\n
\n
Ain Alalam – Rashad Iskandrni<\/p>\n
Abdullah Al Othaim Investment Company announced the launch of \u201cAl Othaim Developments,\u201d its dedicated real estate development arm, in a strategic step that reflects the Group\u2019s direction to build a growing presence in Saudi Arabia\u2019s real estate development sector and supports its ambition to develop integrated destinations that bring together residential living, services, and diverse experiences within environments designed to meet residents\u2019 needs and keep pace with evolving lifestyles across the Kingdom<\/p>\n
Al Othaim Developments is launching with an ambitious plan to deliver approximately 10 real estate projects over the next two years, with investments exceeding SAR 16 billion and a total of approximately 8,000 units. This establishes a broad development portfolio from the outset and reflects the scale of the company\u2019s ambition in the Saudi real estate market<\/p>\n
The company\u2019s vision is centered on developing projects where the elements of everyday life come together within a single destination. Rather than limiting the role of a project to providing a home, the vision extends to creating an integrated environment that surrounds residents with the services and experiences they need. Accordingly, the company\u2019s development vision encompasses residential, hospitality, retail, entertainment, and office components, depending on the nature and location of each project and the needs of the market, enabling the development of integrated destinations with a clear identity and sustainable value<\/p>\n
This approach stems from Al Othaim Development\u2019s belief that the value of a real estate project is not determined by the residential unit alone, but also by the surrounding environment and the services, experiences, and opportunities it provides for connection, work, and leisure. Accordingly, the company seeks to make every project part of an integrated ecosystem, placing ease of access to various needs and services within the residential surroundings among its design and development priorities<\/p>\n
The establishment of the company builds on the expertise and capabilities of Abdullah Al Othaim Investment Company, while creating a dedicated platform focused on real estate development. The platform will work to translate investment opportunities into well-planned projects that respond to market needs and keep pace with shifts in real estate demand across the Kingdom, while maintaining the flexibility to develop a different mix for each destination according to the specific characteristics of its location and the nature of the target market<\/p>\n
Al Othaim Developments is taking its first steps in Dammam through \u201cThe O Residence,\u201d which represents the company\u2019s first development. Its portfolio will expand with new projects under its announced two-year plan across a number of Saudi cities, guided by a vision to develop integrated destinations that respond to the needs of each market<\/p>\n
Abdulmalik Abdullah Al Othaim, Vice Chairman and Chief Executive Officer of Abdullah Al Othaim Investment Company, \u201cThe launch of Al Othaim Developments marks a new strategic milestone in the Group\u2019s journey. We do not view real estate development simply as an addition to our portfolio; rather, it is a sector in which we aspire to build an integrated presence through a specialized platform that understands market needs and translates them into thoughtfully planned destinations that deliver real value. Our vision goes beyond developing standalone residential units. We aim to provide customers with an integrated environment where they can find the residential, hospitality, services, entertainment, and retail offerings they need, depending on the nature and location of each project.\u201d<\/p>\n
He added: \u201cWe believe that the success of any real estate project begins with a deeper understanding of what people are looking for and how their needs and lifestyles are changing. Therefore, we are working to ensure that our projects become more than just places to live. We want to build destinations that form part of residents\u2019 lives and bring together the elements they need within one environment, while maintaining a distinctive identity and value for each project. Differences between cities and locations naturally mean different needs, which is reflected in the components of each destination and the way it is developed.\u201d<\/p>\n
He further explained: \u201cWith a plan to launch 10 projects with investments exceeding SAR 16 billion over the next two years, we are entering a new phase focused on building an integrated real estate portfolio, where each project has its own identity and value within a shared vision centered on developing destinations around people\u2019s needs. The O Residence in Dammam marks the first step in this journey, while we continue to work on projects in other cities. Through these developments, we aim to offer a development model that connects residential living with the experiences and services surrounding it, reflecting the needs of every community in which we operate.\u201d<\/p>\n
Al Othaim Investment continues to develop its service ecosystem across its destinations and projects, while building strategic partnerships that contribute to enhancing the quality of the experience and enriching the details of everyday life<\/p>\n[\/mhc_text][\/mhc_column][\/mhc_row][\/mhc_section]\n","protected":false},"excerpt":{"rendered":"
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