Abdullah Al Othaim Investment buys SAR 180 bln land in Aseer

Meshaal Bin Omairh, CEO of Abdullah Al Othaim Investment Co.

Abdullah Al Othaim Investment Co. (AOIC) acquired an investment land plot on a total area of 145,000 square meters between Abha and Khamis Mushait at SAR 180 million.

CEO Meshaal Bin Omairh said the land acquisition in such a prime location is a new addition to the company’s core asset value. It also implies the company’s commitment to enhancing growth in the field of existing commercial complexes and expanding its pretense to cover most cities in the Kingdom.

The company owns 12 commercial complexes across the Kingdom. It aims to double this number in the next three years, Bin Omairh added, noting that Abdullah Al Othaim Investment will begin construction work at more than 10 new projects.

The company acquired several prime locations in various cities across the Kingdom, the latest of which was the land plots purchased in Madinah and Qurayyat. It also fully acquired the Mall Rabwa land in Riyadh.

He also stressed that the company’s expansion strategy will boost its business and its construction of full-fledged and mixed-use projects, including malls, entertainment parks, hotels and residential units.