Ar-Riyadh Development Co. is dedicated to real estate development, infrastructure installation, and the construction of retail, residential, and office buildings. Initially mandated to develop the Qasr AlHukm area in central Riyadh, the company operates under a philosophy aimed at enhancing the quality of life for citizens, vendors, and consumers while maximizing shareholder returns. Led by Chairman Abdulaziz bin Mohammed bin Ayaf al-Miqren and CEO Khalid al-Dugaither, Arriyadh Development Company boasts significant figures such as a paid-up capital of $267 million, a market capitalization of $366 million, and the ambitious Duhaira development project valued at $3.5 billion.
The vision of Ar-Riyadh Development Co. is to become the sustainable partner of choice in urban development, building on Riyadh's legacy to achieve promising horizons. In line with this vision, its mission is centered on achieving excellence in real estate development and management, strengthening its pioneering position in the fresh produce and public good services sector, and enhancing operational efficiency across its businesses. The company is committed to diversifying its investments, increasing asset returns, and maximizing total shareholder return while operating within a business philosophy that promotes impact creation and sustainability for the benefit of all stakeholders.
Arriyadh Development Company's investments and services encompass a wide spectrum. With a focus on real estate development and development management, the company is involved in residential, business, logistics, and educational real estate sectors. It also owns prominent markets in Riyadh, including Uteiqah Markets, AlTameer Wholesale Market, and the largest central market in the Middle East, AlAziziah Central Market, serving a significant portion of the population and businesses within the capital. Additionally, the company has a strong presence in the car auction market through AlTameer International Car Auction, providing solutions for consumers and financial institutions. Furthermore, Ar-Riyadh Development Co. is exploring financial investments, particularly in technology-enabled financial innovation (FinTech), modern real estate technologies (PropTech), and agricultural and food technologies (AgriTech), as part of its new strategic direction.
As a major player in the real estate market, Ar-Riyadh Development Company has substantially contributed to the urban growth and development of Saudi Arabia's capital, Riyadh. Ar-Riyadh Development Company was founded to support and complement Saudi Vision 2030's goals. Since then, it has been involved in several projects meant to improve the standard of living, draw in investments, and encourage economic diversification.
The company's portfolio includes various developments, including mixed-use, residential, and commercial buildings. One of the noteworthy projects is the King Salman Park project, a vast urban park covering more than 13.4 square kilometers, which places it among the world's largest city parks. In addition to giving locals access to recreational areas, this project aims to build a thriving urban ecosystem and support environmental sustainability.
The mission of Ar-Riyadh Development Company is to provide contemporary, environmentally friendly urban settings that adapt to the changing demands of Riyadh's citizens. The business wants to make Riyadh a vibrant, alluring metropolis through creative design and strategic planning. Ar-Riyadh Development Company, a major player in the real estate market, is essential to determining Riyadh's future and advancing the larger goals for the Kingdom of Saudi Arabia. One could consult official business releases or contact Ar-Riyadh Development business directly to obtain comprehensive and current information on certain projects and initiatives.
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