KHC investments begin: 1997
Based: Riyadh, Saudi Arabia
Kingdom Holding Company has a substantial shareholding in Real Estate Investment Company (REIC), sole owner of Kingdom City, an exclusive Western-style residential development in Riyadh catering to the growing demand for high-end living space in the capital.
Kingdom City management estimates a majority of comparable residential units in Riyadh are at least 20 years old and have become dated or fallen into disrepair. This creates an attractive relative market position for Kingdom City. Kingdom City plans to maintain its premium image through continuous property maintenance and upgrading, leveraging the Kingdom brand while making additional services available to residents.
Kingdom City comprises 362 superbly appointed residential units covering a total area of 721,000 square meters. The units range from luxury four bedroom family villas with private swimming pools to studio apartments and guesthouses. The development also boasts an excellent array of amenities, including restaurants, pools, sports recreation areas, shops, a business centre, a medical clinic and a school.
Kingdom City is at 100% occupancy with hundreds of aspiring residents on a waiting list. REIC is therefore embarking on a sequel development, a second Kingdom City in East Riyadh with even more advanced amenities (see Kingdom Riyadh Land).