Al Othaim Investment plans SAR 15B local projects in coming 3 years

Meshaal bin Omairah, CEO of Al Othaim Investment Co. 

Abdullah Al Othaim Investment Co. will invest about SAR 15 billion over the next three years across all regions of Saudi Arabia, said CEO Meshaal bin Omairh.  

In a panel discussion held during the Real Estate Future Forum, Omairh added that the investment is planned given the company’s confidence in the government approach, support and the opportunities currently available to everyone, especially with the entry of Arab and foreign investors.  

The CEO stated that the number of visitors to the company's projects currently amounts to 50 million, expecting the number to rise to 200 million with new launches, including new and recurring visits.  

Omairh indicated that the company has shifted from building malls to mixed-use projects and integrated cities, which provide a unique quality of life.  

The CEO added that three pillars will shape the future of real estate. The first is the country’s clear strategy and vision, and support for prime projects; second, the increasing demand, as the percentage of youth in Saudi Arabia reaches 65%; and third, the link between quality and the future.  

Artificial intelligence (AI) and research and development (R&D) are linked to the future and quality of real estate, in terms of design, requirements, and access to customers, as well as in terms of smart city management and the debris associated with buildings and cities.   

Furthermore, data processing and analysis are important. It is difficult today to separate technical progress and AI from any industry, Omairh added.  

He pointed out that Al Othaim Investment has an AI subsidiary, noting that the presence of AI is not only considered an additional factor, but a key requirement for the future.