{
  "id": 17821100,
  "title": "Al Othaim Developments brings 70 years of consumer insight into Saudi Arabia’s real estate market",
  "url": "https://urgent.news/2026/11/02/al-othaim-developments-brings-70-years-of-consumer-insight-into-saudi",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T15:03:58.000Z",
  "source": {
    "name": "Saudi Gazette Business",
    "slug": "saudi-gazette-business",
    "url": "https://saudigazette.com.sa/article/665937/business/al-othaim-developments-brings-70-years-of-consumer-insight-into-saudi-arabias-real-estate-market"
  },
  "original_language": "en",
  "account": "Abdullah Al Othaim Investment Company, a firm with seven decades of understanding consumer behavior in Saudi Arabia, has entered the country's real estate market through the launch of Al Othaim Developments. The CEO, Abdulmalik Abdullah Al Othaim, explained that the company aims to create integrated destinations that combine living, working, hospitality, retail, and entertainment spaces. This move comes as Saudi Arabia transitions towards higher homeownership and quality-of-life standards, as outlined in Vision 2030.\n\nThe company plans to introduce 10 projects across the Kingdom over the next two years, totaling over SAR 16 billion in investment and approximately 8,000 units. Rather than announcing projects in their early planning stages, Al Othaim Developments will reveal developments once they are well advanced, ensuring a consistent level of quality. An example of this approach is The O Residence in Dammam, which is around 80% complete and already allows buyers to view finished mock-up units.\n\nThe O Residence in Dammam is a prime example of the integrated destination model, featuring 980 units in eight towers, along with a mall, five-star hotel, fitness club, offices, and landscaped walkways. The project's design emphasizes privacy for residents while integrating public amenities for convenience. Al Othaim highlighted that the company's experience with malls and entertainment venues provides valuable insights into consumer behavior, which inform the design of its developments.\n\nThe company will use a mix of in-house operations and partnerships with specialized operators for different components of its projects, ensuring that each element adds value to the destination. Al Othaim Developments is also following the new property ownership regulations for non-Saudis closely and is prepared to cater to a diverse range of buyers, including Saudi families, expatriate residents, and international investors.\n\nThe company's development strategy focuses on evaluating each project based on its location, market dynamics, and long-term value. The company aims to balance selling and holding assets, retaining strategic components like hospitality and retail for potential long-term value. Strategic partnerships with government entities, operators, hospitality brands, financial institutions, and consultants will help Al Othaim Developments expand rapidly while maintaining high-quality execution.",
  "summary": "With seven decades of experience understanding how people in Saudi Arabia shop, eat, meet and spend their time, Abdullah Al Othaim Investment Company is bringing that consumer insight into the Kingdom’s real estate sector through the launch of Al Othaim Developments. Abdulmalik Abdullah Al Othaim, Vice Chairman and Chief Executive Officer of Abdullah Al Othaim Investment Company, said the Group’s…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Ajel English",
        "title": "Saudi stock market rebounds, regains 9,910-point level",
        "url": "https://urgent.news/2026/11/01/saudi-stock-market-rebounds-regains-9-910-point-level",
        "published": "2026-11-01T10:54:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}