Al Oula Real Estate Development Company

The Saudi-based Al Oula Real Estate Development Company specializes in real estate property investment, development and management. It had a portfolio of 14 projects in Saudi Arabia and one in the UAE, as of December 2009.

Al Oula and Emaar PropertiesEmaar Properties launched the SAR42 billion (USD11.1 billion) Jeddah Hills residential and commercial project, in 2006. The 25 million sq. m (269 million sq. ft.) project will comprise 24 residential villages, each measuring 465,000 sq. m (5 million sq. ft.) and 750 residential plots. Each village will also include a mosque, schools, clinics and recreation amenities, when completed in 2013.

Al Shamiyah is a SAR3.45 billion (USD930 million) 1.5 million sq. m (16.1 million sq. ft.) mixed-use development that Al Oula is planning to build in Mecca, through its subsidiary Al Shamiyah Urban Development. When completed in 2016, Al Shamiyah would include villas, hotels, residential apartments, commercial centers, markets, parking lots, schools, a police station and medical facilities.