With the launch of its second accommodation complex in Saudi Arabia, Namariq has set the benchmark in the accommodation sector with its quality construction, state-of-the-art facilities and professional workforce.
Housed in the heart of the thriving King Abdullah Economic City, the Namariq project reflects a progressive spirit, which is in line with the Kingdom’s Vision 2030 toward a bright future.
The launch took place on Jan. 31, and was graced with the presence of VIPs, key businessmen and top executives from leading domestic and international companies, along with Ahmad Linjawi, deputy CEO of Emaar, and Abdul Aziz Al-Mohaimeedm, Emaar’s director general, real estate, municipality and urban planning.
The new Namariq Residency complex in KAEC is thoroughly designed and developed to house and serve employees and workers from all sectors with a single-minded vision — to provide better living to its inhabitants so that they are geared-up to deliver their jobs with optimum productivity.
CEO of Namariq, Hussein Hamed Fayez, said: “Namariq is focused and determined to develop a facility that reflects the industry’s best standards coupled with distinctive services.
The core is to have an accommodation facility for workers and employees from various walks of professions and provide them with a quality-led comfortable living. The company is geared-up to extend its hospitality services on large scale with a motive of becoming the most trusted name in the business.”
The vice president of King Abdullah Economic City, Ahmed Linjawi, described Namariq Residency as a true “jewel” in the heart of KAEC. He appreciated the overall concept and execution of the project with a special mention of the fact that quality is what has impressed him, and he believes that it is a very valuable investment that Namariq has made in KAEC.
The Namariq Residency at KAEC has an impressive capacity of accommodating more than 3,084 residents in the first phase. The facilities include a dining hall, housekeeping, laundry services, indoor and outdoor recreation, coffee shop, commercial shops, mosque, and a first aid clinic.
Namariq Residency — a jewel in the heart of KAEC
Namariq Residency — a jewel in the heart of KAEC
Al-Saedan launches $400m investment platform for real estate, digital infrastructure
Al-Saedan Real Estate Company of Saudi Arabia, in collaboration with Serpentine Lake Capital of the UK and SGI Real Estate of Canada, have announced the establishment of a joint development and investment platform under the name SL Property. The platform will develop commercial, residential, and hospitality projects, alongside infrastructure and data center projects, across the Kingdom. It reflects the growing international interest in Saudi Arabia’s real estate and digital infrastructure markets and supports the development of high-quality, long-term assets within the Kingdom.
The agreement signing ceremony was held under the patronage of Minister of Municipal, Rural Affairs and Housing and Chairman of the Real Estate General Authority Majid bin Abdullah Al-Hogail, as part of the Future of Real Estate Forum, in which Al-Saedan Real Estate participated as a strategic sponsor. The ceremony was attended by Dr. Badr bin Ibrahim bin Saedan, chairman of the board of Al-Saedan Real Estate; Ahmed bin Ibrahim bin Saedan, vice chairman of the board of Al-Saedan Real Estate; Ben Mikola, representative of Serpentine Lake Capital and SL Property; and Hassan Al-Shawwa, representative of SGI Canada.
The attendance reflects the strategic importance of the initiative and the continued support of the authority in facilitating the attraction of high-quality international investments into the Kingdom’s real estate and digital infrastructure sectors.
This development follows the issuance of the Regulation on Real Estate Ownership by Non-Saudis in Saudi Arabia, which came into effect in January. The updated regulatory framework is expected to expand access to international investment, facilitate foreign investor participation in strategic sectors, and increase the depth of institutional capital flowing into the real estate, infrastructure, and data center sectors in the Kingdom.
The platform is targeting initial joint investments of SR1.5 billion ($400 million) in partnership with Al-SaedanReal Estate, representing the first phase of a broader, multi-stage investment program. In its initial phase, SL Property — Al-Saedan intends to invest in six to eight projects across real estate, infrastructure, and data centers, with additional opportunities anticipated as the platform’s activities expand in the future.
The initial projects will be concentrated in Riyadh and Jeddah, and will include mixed-use developments, commercial assets, residential projects, and infrastructure related to data centers. These projects are designed to be scalable, sustainable, and aligned with national development priorities, including housing expansion, enhancement of urban quality of life, hospitality sector growth, and strengthening the Kingdom’s digital services capabilities.
Al-Saedan Real Estate is one of the oldest private real estate development companies in Saudi Arabia, with more than 80 years of operational experience and a strong track record that includes the development of seven major integrated urban communities, in addition to numerous commercial, hospitality, and associated infrastructure projects.
The SL Property platform will serve as a dedicated investment vehicle for this initiative, with Serpentine Lake Capital contributing its asset management expertise, and SGI Real Estate providing its specialized real estate sector experience. The platform’s structure is intended to combine local development capabilities with disciplined international investment practices and robust governance standards.
This initiative aligns with the Kingdom’s economic diversification objectives and reflects growing confidence in the updated regulatory framework governing the real estate and digital infrastructure sectors. As the platform evolves, it is expected to provide both local and international investors with access to high-quality investment opportunities across the real estate and data center sectors throughout the Kingdom.
Dr. Badr bin Ibrahim said: “At Al-Saedan, we are pleased to be among the first beneficiaries of the promising new foreign investment system. Following our success in raising several local investment funds, we look forward to expanding our expertise and partnerships at a global level.”
Mikola added: “We are pleased to partner with Al-Saedan, whose strong track record provides a solid foundation for this collaboration. As the platform develops, we expect to explore opportunities to expand into real estate and infrastructure projects within the Kingdom of Saudi Arabia and beyond. The Kingdom represents a fast-growing market driven by clear structural factors, and we look forward to developing high-potential opportunities through a disciplined and focused approach.”
