Osool & Bakheet Launches $190M Fund for Luxury Hotel in Al-Khobar, Saudi Arabia

Osool & Bakheet Investment Company has launched a $190 million private real estate fund, the Ashad Al Hamra Hotel Development Fund, to acquire land and develop a luxury hotel in Al-Khobar, Saudi Arabia. This strategic investment aims to capitalize on the growing opportunities within Saudi Arabia's expanding tourism sector, specifically targeting the hospitality market in the Eastern Province. The fund, which totals 713 million Saudi riyals including bank financing, is expected to deliver a positive financial impact on the company in 2026, contributing more than 5 percent to its 2025 revenues through arrangement and management fees. With a five-year term that may be extended by two additional years, this project marks a significant boost for tourism investment in the region.