The Saudi-based Al Oula Development Company was established in 2002 to provide real estate investment, development, property and project management, assessment and evaluation as well as infrastructure and land development. It also provides research and consultancy services and financial investment management through investment and real estate portfolios.

The company has 12 subsidiaries in Saudi Arabia, UAE, Kuwait, Oman and Egypt. Al Oula Egypt for Urban Development was established in 2006, with three Egyptian firms with a paid-up capital of USD87.7 million (EGP499 million).

Al Oula and Emaar PropertiesEmaar Properties launched the USD11.2 billion (SAR42 billion) Jeddah Hills residential and commercial project, in 2006. The 22.8 million square meter (246 million square foot) project will be comprised of 20,000 townhouses, villas and 24 residential villages with retail hubs, expected to go on sale by the close of 2007.

Al Oula Development Company expanded into the UAE with Umm Al Quwain Marina, one of the largest real estate projects in the emirate, with an area of 6 million square meters (64.8 million square feet). The AED12 billion (USD3.3 billion) Marina is scheduled for completion within seven years to comprise 9,000 residential units divided into 2,600 residential villas and 6,500 apartments.