Real estateUpdated November 2
Al Othaim launches development business
Saudi Gazette reports that Abdullah Al Othaim Investment Company has launched Al Othaim Developments, presenting the move as an extension of its experience with consumer-facing destinations. In an interview with the newspaper, CEO Abdulmalik Abdullah Al Othaim said the company plans to launch 10 projects across Saudi Arabia over the next two years, with total investment exceeding SAR 16 billion and approximately 8,000 units. The O Residence at Al Othaim Park in Dammam is a concrete example: the project comprises 980 units across eight towers and was approximately 80% complete at the time of the business launch. The company’s figures describe its planned pipeline; the Dammam project is already at an advanced stage.
Coverage started November 2