Abdullah Al Othaim Investment Company has launched Al Othaim Developments, a dedicated real estate development arm with a two-year plan encompassing approximately 10 projects and 8,000 units across Saudi Arabia.
Planned investments exceed SR16bn ($4.27bn), with The O Residence in Dammam representing the company’s first development.
The new platform will focus on integrated destinations combining residential accommodation with services and other facilities tailored to each location and market.
Its approach places access to everyday services within residential surroundings among its design and development priorities. Projects are intended to support residents’ needs for connection, work and leisure alongside housing.
Al Othaim plans integrated Saudi developments
Abdulmalik Abdullah Al Othaim, Vice Chairman and CEO of Abdullah Al Othaim Investment Company, said: “The launch of Al Othaim Developments marks a new strategic milestone in the Group’s 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 specialised 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.”
Al Othaim Developments is beginning its development programme with The O Residence in Dammam, Saudi Arabia.
The company plans to expand its portfolio with projects across a number of Saudi cities under its announced two-year programme. Each destination will have its own identity and development mix, reflecting local characteristics and the target market.
Al Othaim said the company’s approach starts with understanding how people’s needs and lifestyles are changing.
Dedicated platform for Saudi real estate expansion
He added: “We 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’ 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.”
The establishment of Al Othaim Developments builds on Abdullah Al Othaim Investment Company’s existing expertise and capabilities, while creating a platform focused specifically on real estate development.
The company said the platform will translate investment opportunities into planned projects that respond to market needs and shifts in real estate demand across the Kingdom.
Al Othaim Investment also continues to develop services across its destinations and projects and establish strategic partnerships intended to enhance the experience for residents and customers in Saudi Arabia.
