Al Khozama and GFH Unveil SAR 1.5B Landmark Project in Riyadh

Riyadh’s skyline is about to welcome a striking new neighbour. Al Khozama Investment Company has joined forces with GFH Capital to create what’s being billed as a “landmark mixed-use destination” right beside the famous Al Faisaliah Tower on King Fahad Road. The partnership ropes in Outlive Group as the development manager, overseeing both design and delivery—a role that demands no small amount of creativity, given Riyadh’s rapidly evolving urban fabric.

Together, they’re pouring roughly SAR 1.5 billion into the project, which promises to combine high-end residential apartments, hotel residences, offices, lifestyle spaces and, importantly, a modern parking complex that should help ease the district’s daily traffic hustle. I reckon this sort of development says a lot about where Riyadh is heading: a transition from purely functional spaces to places that mix business, comfort and a sense of community.

Al Khozama’s CEO, Khalid S. AbuHaimed, said the collaboration with GFH mirrors both companies’ ambitions to “redefine mixed-use urban living” in the Kingdom. In plain terms, that means blending the charm of hospitality with the discipline of real estate. From my experience following similar projects for Arageek, it’s not just about erecting another tall structure—it’s a statement about how culture, commerce and modern life can coexist under one roof.

On the flip side, GFH Capital’s CEO, Razi Almerbati, noted that this development reinforces their growing footprint in Saudi Arabia. He highlighted the country’s “exceptional opportunities for forward-looking investors,” which, if we’re being honest, sounds spot on considering how Vision 2030 has reshaped the investment mood in the region. And believe it or not, GFH seems to be making a habit of tapping into projects that blend economic ambition with urban design flair.

Outlive Group’s Managing Director, Walid Alhindi, added another layer, pointing out that the focus here is on “innovation, sustainability and human-centric design.” It’s refreshing to hear that phrase—too many developments talk up glass façades and end up forgetting about the people actually using the space. If they can pull this off, the result might just be a model for what future Saudi mixed-use projects aim to become.

Now, while paperwork and planning are still in motion, the signs are encouraging. Al Khozama brings decades of hospitality know-how (think Al Faisaliah Tower and other premium real estate ventures), GFH Capital brings deep-pocketed investment strength, and Outlive adds a touch of design intelligence that leans on Gulf experience. It’s a trifecta that could, hopefully, avoid the sort of delays and design clashes that often plague major builds.

For those of us watching the startup and business scene, these large-scale property partnerships have a domino effect. They create new jobs, foster local supply chains and sometimes open doors for smaller tech firms offering smart infrastructure or sustainability solutions. I’ve seen that first-hand through Arageek’s work with MENA startups—where a single project like this can energise an entire ecosystem.

So, yes, we’re looking at another major Riyadh landmark in the making. It’s still early days, but if the promises hold up, this could become one of those city-defining places people talk about for years to come. As far as ambitious urban projects go, this one’s pretty exciting… and I’m definately curious to see how it unfolds.

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