Al-Akaria Saudi Real Estate Company names new CEO

Mamdouh Saud Al-Sharhan
Updated 05 August 2018
Follow

Al-Akaria Saudi Real Estate Company names new CEO

Al-Akaria Saudi Real Estate Company (SRECO), a publicly listed real estate developer on the Saudi stock exchange (Tadawul), has announced the appointment of Mamdouh Saud Al-Sharhan as the chief executive of SRECO with immediate effect. This appointment follows the resignation of the former CEO, Abdullah bin Ibrahim Saad Al-Ayadhi.

Al-Ayadhi held the position of CEO of SRECO for three years. 

“The board of directors of SRECO would like to sincerely thank Al-Ayadhi for his loyal service, strategic oversight and contribution to the growth of the company and wishes him success in his future endeavours,” the company said in a press release.

“SRECO has a strong finance team, and Al-Sharhan has played a significant role in his previous role as chief financial officer in helping drive financial and operational improvements. I am confident that Al-Sharhan’s new role will continue to build on our achievements thus far toward the company’s transformation,” said Abdulrahman Al-Mofadhi, chairman of SRECO. 

“On behalf of the board of directors and management team, I would like to thank Al-Ayadhi for his dedication and valuable contribution,” he concluded. 

In addition to his role at SRECO, Al-Sharhan serves on the board of the Real Estate Financing and Investment Committee of the Riyadh Chamber of Commerce and Industry.

Al-Sharhan holds a master’s degree in quantitative finance from the George Washington University in the US, a master’s degree in banking administration from the Institute of Public Administration in Riyadh and a bachelor’s degree in accounting from King Saud University in Riyadh.


Azure opens Azure Takhassusi residential community in Riyadh, fully leased to Saudia

Updated 01 February 2026
Follow

Azure opens Azure Takhassusi residential community in Riyadh, fully leased to Saudia

Azure, a Mohammed Al Habib Real Estate company and the owner of Riyadh’s largest portfolio of residential compounds, has announced the official opening of Azure Takhassusi, its newest premium residential community. The project has been fully leased to Saudia, the Kingdom’s national flag carrier.

The launch marks a major milestone in the eight-year partnership between Azure and Saudia, one of the longest-running and most successful corporate housing collaborations in Saudi Arabia. The development reflects Saudia’s continued confidence in Azure’s ability to deliver high-quality residential environments that meet strict standards of comfort, privacy, service excellence and operational reliability.

Purpose-built to support the wellbeing and lifestyle needs of airline professionals, Azure Takhassusi offers more than accommodation. The community provides a fully integrated living experience, combining modern residences, premium facilities, dedicated resident services and professional community management. Designed to promote stability, convenience and peace of mind, the compound allows employees to focus on their professional responsibilities with confidence.

“This opening represents more than the launch of a new residential compound,” said Fahad Al Assaf, president of Azure. “It is a strong statement of trust built over eight years of partnership with Saudia. Azure Takhassusi reflects what long-term collaboration can achieve when two organizations share a commitment to quality, people and performance.”

For Saudia, fully leasing Azure Takhassusi underscores the airline’s continued investment in its workforce. By providing secure, comfortable and professionally managed housing, the airline aims to strengthen its employee value proposition, recognizing the role that high-quality living environments play in attracting and retaining talent.

Azure currently operates the largest portfolio of residential compounds in Riyadh and is a market leader in corporate housing for major institutions across the Kingdom. Its partnership with Saudia remains one of its most significant, spanning eight years of steady growth and large-scale delivery.

The opening of Azure Takhassusi marks another milestone in that journey, setting a new benchmark for corporate housing that supports workforce wellbeing, operational excellence and long-term partnerships in Saudi Arabia.