Riyadh-based AWJ Holding said that its potential investments in Saudi Arabia’s real estate sector will exceed 8 billion Saudi riyals ($2.13 billion) in the next five years.

The announcement comes after AWJ Investment, its subsidiary, acquired a 40 percent stake in Oud Real Estate, headquartered in the Saudi capital. 

The partnership will explore branded residential, commercial, and hospitality developments, focusing on major urban centres, including Riyadh and Jeddah.

Oud Real Estate was established in 2016 and has 600,000 sqm under construction.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.