Saudi hospitality and real estate company Al Khozama Investment Company and GFH Capital have forged a partnership to jointly develop a mixed-use real estate project in Riyadh. The partnership marks a significant milestone in GFH’s expansion in the Saudi market, reflecting a shared commitment to enhance Saudi Arabia’s urban landscape and support its economic transformation agenda.
This destination aims to become a new benchmark for integrated mixed-use developments in Riyadh, reflecting the city’s transformation into a dynamic global capital, the firm said.
The project will be situated adjacent to the Al Faisaliah Tower on King Fahad Road in Olaya and will boast a blend of branded residential apartments, hotel residences, Grade-A offices, retail outlets, wellness and lifestyle facilities, and a parking complex catering to both the development and surrounding district.
Khalid S. AbuHaimed, CEO, Al Khozama Investment Company said, “This collaboration with GFH reflects our shared ambition to redefine mixed-use urban living in Riyadh. Building on Al Khozama’s legacy of excellence in hospitality and real estate, this project will further elevate the standards of integrated development in the Kingdom.”
Razi Almerbati, CEO, GFH Capital added, “We are proud to partner with Al Khozama on this iconic development at the heart of Riyadh. The Kingdom continues to offer exceptional opportunities for forward-looking investors, and GFH is committed to bringing its expertise, network, and resources to create enduring value and contribute to the momentum of Vision 2030.”
Walid Alhindi, MD, Outlive Group continued, “We are pleased to collaborate with Al Khozama and GFH on this landmark development, which embodies innovation, sustainability, and human-centric design. Our vision is to create a destination that seamlessly integrates living, working, and leisure spaces while reflecting the cultural identity and modern aspirations of Riyadh. This project will stand as a model for next-generation urban developments in the region.”
The partnership brings together Al Khozama’s expertise in hospitality and real estate development, GFH’s regional investment and structuring capabilities, and Outlive Group as the Development Manager. The partners have commenced work on project planning, design, and regulatory processes, paving the way for the launch of this landmark destination.
