Kingdom Holding Company (KHC) has announced the sale of the "Kingdom City" residential complex in the Al Rabie neighborhood in Riyadh for 900 million Saudi riyals. The buyer is a real estate investment fund affiliated with Alawwal Investment Company. Kingdom Holding Company will also participate in the new fund that owns "Kingdom City," with the percentage of participation to be announced later. The name "Kingdom City" will be retained.
"Kingdom City" is a prominent luxury residential complex in Riyadh, located at the intersection of Al-Thumama Road and King Abdulaziz Road. It is known for its proximity to key projects in Riyadh, including the King Abdullah Financial Center, the Sports Boulevard Project, King Salman Airport, and Roshan Front. The new fund's strategy aims to enhance the residential complex's revenues, improve operational efficiency, enhance services, and provide top-notch facilities.
The "Kingdom City" Residential Complex comprises 384 residential units with facilities meeting the needs of residents and their families. The complex is supported by a specialized operating department. Its location ensures easy access to essential services such as the Kingdom Hospital and schools.
Kingdom Holding Company, established in 1980, is a leading global investment company with diversified investments across various sectors. It has assets exceeding 50 billion Saudi riyals and trades on the Saudi Exchange. Alawwal Investment Company, established in 2008 and fully owned by First Saudi Bank, is an independent investment company providing innovative investment services and financial solutions in Saudi Arabia.
