11 of the Best Real Estate Developers in Saudi Arabia
11 of the Best Real
Estate Developers in
In the Kingdom of Saudi Arabia, three main components contribute to the
real estate sector: public companies, private firms, and government agencies.
The current market value measures at more than 1.3 trillion Saudi riyals, and
analysts anticipate that this figure will increase by 200 billion over the next
few years. Arab News addressed this growth in a 2014 article, stating that
demands for housing should play a key role. According to their data, real
estate developers will need to build more than 5 million residential units by
2020 to accommodate for expansion.
Between the government’s new legislative strategies and the growing number
of investors attracted to the region, the real estate market in Saudi Arabia is
positioned for growth as local companies and firms continue to compete for
business. The following is a list of the most prominent public and private real
estate developers in the Kingdom of Saudi Arabia (KSA):
Al-Riyadh Development Company
A Saudi joint-stock company, Al-Riyadh formed as a real estate development
company under royal decree, and it features two branches of operation. The
first objective of the company is to build and manage properties for the
public good, such as a wholesale food market and a transportation center.
Secondly, Al-Riyadh invests in residential and commercial projects throughout
Saudi Real Estate Company - Al Akaria
Al Akaria also originated by government
appointment, and it has operated as a multi-
faceted development firm for 40 years. Among
other concentrations, the company builds
residential and business properties, many of
which are leased to renters, and it leverages
sustainable building practices to improve the
longevity and environmental impact of each
Taiba Investment and Real Estate
Headquartered in the city of Medina, this joint-stock company launched in
1988 and has created a portfolio of three residential and commercial projects.
The investment and development firm builds properties ranging from
hospitals to luxury resorts, and it also oversees general contracting bids for
construction and electromechanical processes.
Knowledge Economic City
Knowledge Economic City (KEC), a 4.8
million-square-foot zone within the
Islamic holy city of Madinah, received a
royal endorsement to pursue real estate
projects in 2006. Following a three-phase
development strategy, the KEC master
plan aims to benefit homeowners and
create new opportunities for business
professionals. Features of the initiative
include new gated communities,
apartments, and cultural centers.
Dar Al-Arkan Development Company
In 1994, six business families joined together to form Dar Al-Arkan in the
capital city Riyadh. The development company started with an initial stage of
infrastructure projects and has subsequently shifted its focus to residential
properties. Al-Arkan offers a top-of-the-market, 10-year structure warranty on
residential units, and the business partners with local financial institutions to
assist with mortgages.
Makkah Construction & Development
Launched by royal decree, the Makkah Construction and Development
Company serves the High and Royal Order by carrying out reconstruction and
renovation projects in the area surrounding the Grand Mosque in Mecca. The
company builds properties for sale and for lease, and it also specializes
Kingdom Holding Company
The Kingdom Holding Company (KHC)
leads all publicly listed real estate
developers in Saudi Arabia and has
extended its presence into other Middle
Eastern and international markets. Among
other functions, the company invests in
high-profit projects, such as the Kingdom
Tower, which is under construction in
Jeddah, Saudi Arabia. Slated for
completion in 2018, the tower will stand
at 1,000 meters and rank as the tallest
building in the world.
Based in Jeddah, SEDCO Development formed in 2009 after its parent
company, Saudi Economic and Development Company, consolidated its
assets and portfolio of projects. The newly formed private entity concentrates
solely on real estate development and has generated more than 3.5 billion
Saudi riyals in completed developments. Recent endeavors include the
Gardenia Residence and the Galleria, a five-star hotel on AL-Tahliya Street.
Al Ra’idah Investment Company
Royal decree No. 9 established this joint-stock company in 2007 to oversee
the investments of the Public Pension Agency in Saudi Arabia and to direct a
variety of real estate endeavors. Al Ra’idah provides a comprehensive list of
services to KSA, ranging from managing assets to developing new properties.
The company portfolio features the following projects: King Abdullah
Financial District, the IT and Communications Complex, the Obhur Al Janoubia
residential community, and many more.
The Ewaan Global Residential Company is comprised of multiple partners,
such as the Islamic Corporation for Private Sector Development, the Public
Pension Agency, and the International Investment Bank. Ewaan endeavors to
build quality homes at an accessible price range, and in 2015, the business
completed the Limas Project in Jubail and the Al Mayaar Project in Jeddah.
Al-Saedan Real Estate Company
A leader in both the Saudi private real estate sector and the Arab region, Al-
Saedan Real Estate Company recently created a new brand logo to reflect its
commitment to progress. Al-Saedan focuses on real estate and urban
development and maintains a domestic and international portfolio. A few
local projects include Elegance Tower, the Addiyar Residential Compound,
and the Al Nifil Residential Compound.